Category: Price Watch
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U.S. election causes Bitcoin, crypto prediction markets havoc on Biden lead
Traders in the crypto market are increasingly betting on the outcome of the contested U.S. election. So far, the majority of bets are on Joe Biden, the Democratic candidate. Bitcoin is surging on the predicted outcome, as a blue sweep benefits the dominant cryptocurrency. The betting odds in the crypto prediction markets, primarily augur, are…
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Bitcoin in “overbought territory” says researchers as BTC suddenly corrects
According to researchers at Santiment, Bitcoin has been in an “overbought territory.” Merely two hours after the report came out, BTC dropped 4% within two hours. Possibly due to the uncertainty around the U.S. election on November 4, the cryptocurrency market saw a steep pullback. As Bitcoin declined from $13,750 to $13,200, Ethereum and other…
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Yearn.finance (YFI) fell to four digits—but are whales accumulating?
The price of YFI, the native token behind the decentralized finance (DeFi) giant Yearn.finance dropped to double-digits. It has started to recover as the market sentiment around Yearn.finance started to show signs of improvement. On October 30, the price of YFI dropped to as low as $9,631 on Binance. The DeFi space saw a marketwide…
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Top crypto fund manager explains the bull case for Uniswap (UNI)
It’s been a bloody past few weeks for the DeFi market. Most coins pertaining to this space have dropped over 70 percent from their all-time highs set in August or September. Yearn.finance (YFI), for one, recently dropped back into the four-digit region after peaking at $44,000 two months ago. Uniswap (UNI) is another DeFi coin…
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U.S. megafund Fidelity targets Asian family offices wanting Bitcoin
US-based Fidelity Investments, a trillion-dollar fund manager with a deep interest in the cryptocurrency market, is targeting rich Asian investors by way of a new partnership with a fund in Singapore, financial publication Bloomberg reported Thursday. Asian family offices are FOMOing into crypto Stack, the Singapore fund that provides access to crypto products and similar…
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Bitcoin’s organic valuation is at an all-time high and it’s a bright mid-term sign
The Bitcoin NVT Ratio is at an all-time high, which indicates that the blockchain network activity is supplementing the price. The metric shows the ongoing rally of BTC is organic, led by genuine retail and institutional demand. The Bitcoin NVT price hits a new all-time high and enters price discovery. Source: Willy Woo Bitcoin’s NVT…
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Miners begin offloading Ethereum holdings as it continues underperforming BTC
Ethereum has been severely underperforming Bitcoin throughout the past few days and weeks, with the second-largest cryptocurrency by market capitalization currently trading far below its yearly highs. Meanwhile, Bitcoin’s price is currently trading at the highest price seen in well over a year, with bulls vying to break the $13,800 level and bring the crypto…