Category: Price Watch
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Here’s what was behind Bitcoin’s sharp market health decline seen this week
Bitcoin’s recent price action has largely favored sellers, as the benchmark cryptocurrency is currently trading down roughly $1,000 from its weekly highs of just over $9,800. The decline from these highs came about after multiple failed attempts to break above $10,000, pointing to some underlying weakness amongst BTC buyers. This price plunge has also caused…
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Despite ongoing rally, OmiseGo would need to rally over 1,400% to reclaim highs
OmiseGo – a relatively small crypto with a market cap of $261 million – has been caught within the throes of a parabolic uptrend over the past several days. This uptrend has allowed it to post some massive gains emblematic of those seen during 2017’s “altseason” – in turn drumming up significant interest amongst investors.…
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Unlike 2016, analysts say Bitcoin won’t see a brutal post-halving crash for 2 reasons
On March 12, 2020, during the infamous “Black Thursday,” the price of Bitcoin (BTC) dropped to as low as $3,600 across major exchanges. Now, analysts believe the intense correction will benefit the dominant cryptocurrency in the coming months. After a block reward halving, the price of BTC tends to drop. In the previous two halvings…
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Bitcoin options on the CME are seeing surging popularity; here’s what this could mean
After first launching Bitcoin futures products in late-2017, the CME has been garnering massive adoption amongst BTC traders and investors in recent times. The platform’s options products, in particular, have seen a massive spike in popularity over the past few weeks, now accounting for 40 percent of the total outstanding open interest for Bitcoin futures…
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Bitcoin options skew shows a massive demand for puts; here’s what this means
Bitcoin’s options market is suggesting that there is a growing demand for put positions amongst traders. This is a sign that investors are moving to protect themselves from the cryptocurrency potentially seeing significant downside. Market markets, however, do not seem to be too concerned about the prospect of the benchmark cryptocurrency seeing further downside –…
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On-chain metrics spell trouble as Bitcoin dips below $9,000
The past 24 hours have been characterized by fear, uncertainty, and doubt in the cryptocurrency market. The state of commotion among investors and market participants alike appears to have been triggered by a 50 BTC transaction originating from a wallet that had not been touched in over a decade. As speculation mounted that the transaction…
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Sentiment data shows investors have overreacted to 2009 wallet’s 50 Bitcoin movement
Bitcoin’s price saw a sharp decline earlier today that came about close on the heels of news regarding a wallet from 2009 moving 50 BTC for the first time in a decade. Despite there being some initial speculation that the wallet may belong to the mysterious Bitcoin founder – Satoshi Nakamoto – data now reveals…
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This data shows Bitcoin could soon see a retail investor frenzy
Bitcoin’s sharp recovery from its meltdown in mid-March has revitalized its investor base, leading positive sentiment to flourish amongst market participants. This positivity is likely rooted in its bullish performance against a backdrop of global instability, with comments from legendary investors like Paul Tudor Jones further vindicating the cryptocurrency’s value. The benchmark cryptocurrency is now…
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3 key data points show it wasn’t Satoshi who moved 50 Bitcoin today
50 BTC from a block mined in February 2009 is moving. It is the first batch of Bitcoin to move from the Satoshi generation in many years. But, three key data points show it was not Satoshi who moved approximately $470,000 in BTC. The three data sets are: the absence of a “Patoshi pattern,” it…
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Ethereum sees booming demand as network utility continues growing
Ethereum’s price action has been rather lackluster in recent times, but this hasn’t been enough to slow its thriving utility. This utility has been largely rooted in the growing popularity of DeFi and Stablecoins, which have both directed a massive amount of network activity to the Ethereum blockchain. Although it hasn’t yet been reflected in…