Category: Price Watch
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Analysts explain why Bitcoin is primed for a rally back to $40k and higher
The price of Bitcoin is hovering under $37,000 after the correction from $40,000 in the past 72 hours. Trader Peter Brandt believes BTC would either face a “complicated” correction or see a broader rally. Brandt, a long-time trader, pinpointed the daily price chart of Bitcoin to explain that the range is tightening. When the range…
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Yearn.finance (YFI) surges 10% on v2 vault teaser
YFI soared 10% within an hour after a V2 vaults teaser was uploaded by the Yearn.finance Twitter handle. pic.twitter.com/2bcO70Ps6h — yearn.finance (@iearnfinance) January 18, 2021 A pseudonymous developer working on the v2 vaults said: “After 4 months and 8 design iterations, v2 Vaults are finally live! So proud to see this extensive redesign in action!…
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Alpha Alarm: The Bitcoin outlook
This analysis was brought to you by Alpha Alarm, a Substack newsletter featuring daily crypto analysis. You can subscribe here. The market sentiment around Bitcoin is improving once again. Bitcoin strongly recovered from $30,500, solidifying it as a major support area. Oaktree’s Howard Marks, who was a Bitcoin skeptic for a long time, has become…
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Bitcoin surges a day after Grayscale reopens deposits, and it’s not a coincidence
The price of Bitcoin has recovered strongly overnight, rising from around $34,000 to $38,500. The 10% rally coincides with Grayscale reopening its products. Last month, Grayscale closed its products for new investors. Since Christmas, the Grayscale Bitcoin Trust did not report any additional inflow as a result. The Grayscale Bitcoin Trust is the go-to investment…
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Why this trader thinks the Bitcoin bottom is in based on volume trends
On January 12, the day the price of Bitcoin dropped from $41,000 to $30,500, over $2.5 billion worth of futures contracts were liquidated. The derivatives market, which was extremely overleveraged and overcrowded, saw a massive reset. Following the shakeout, a pseudonymous trader known as “Byzantine General” said that there is a chance the “bottom” is…
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Bitcoin frenzy? Coinbase surpassing $9 billion in daily volume shows big demand
The demand for Bitcoin is increasing as the rising volatility shows. Coinbase, the largest cryptocurrency exchange in the U.S., recorded $9 billion in daily volume on Jan. 11. Yesterday, Coinbase, Kraken, and several other exchanges and data providers saw technical difficulties amid record-high trading volume. The explosive increase in the trading volume of Bitcoin led…
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Data shows Bitcoin sells are being scooped up by BTC whales
Bitcoin jubilation turns to panic as the market downturn takes hold. The last 24-hours have seen $260 billion wiped from the crypto market cap in what can only be described as a blood bath. Indications of a dip began to show over the weekend when Bitcoin failed to hold the crucial $38.8k level. Since then,…