Market Analysis

Bitcoin (BTC) has better probability of recovering back to $60,000 than to break below its current support level of $30,000 and target $20,000, believes Mike McGlone, senior commodity strategist at Bloomberg Intelligence. A screenshot from McGlone’s latest analysis on the flagship cryptocurrency, first shared by Bloomberg’s senior ETF analyst, Eric Balchunas, shows him comparing Bitcoin’s ongoing

Ethereum (ETH) is currently the leader when it comes to smart contract capabilities and the sheer number of projects operating on its network, but the push to build products on Bitcoin (BTC) is gaining traction with advocates like Square CEO Jack Dorsey spearheading the effort to bring decentralized finance (DeFi) to the Bitcoin network.  One

This Friday’s weekly Bitcoin (BTC) options expiry currently holds a $330 million open interest. Considering the recent struggle to regain the $32,000 support, this event is an important test of bulls’ willingness to display reversion signs. On July 21, Alameda Research announced that the company made Bitcoin purchases below $30,000, and Sam Trabucco, the firm’s

Bitcoin (BTC) is rebounding despite the ongoing Grayscale Bitcoin Trust (GBTC) unlocking events — and most shares are already released. According to data from tracking resource Bybt, the remaining unlockings combined involve fewer shares than those which were released on just one day last weekend. Putting an end to GBTC “FUD” July 18 saw around

Bitcoin’s (BTC) painful plunge below $30,000 on Tuesday turned into a so-called “buy the dip” opportunity for Alameda Research, a Hong Kong-based quantitative trading firm and liquidity solutions firm headed by FTX-famed Sam Bankman-Fried. The company’s quantitative trader Sam Trabucco revealed late Tuesday that they purchased Bitcoin during its latest price decline, adding that their

Billion-dollar investment firm Rothschild Investment Corp quadrupled its exposure to Bitcoin (BTC) since April, new records show. In a filing with the United States’ Securities and Exchange Commission (SEC) on July 17, Rothschild confirmed that it now owns 141,405 shares of the Grayscale Bitcoin Trust (GBTC).  Rothschild GBTC shares near 150,000 A quiet but nonetheless

A recent sell-off in the Bitcoin (BTC) market pushed its prices below the key psychological support of $30,000. While the cryptocurrency’s move downhill prompted many analysts, including Luno exchange’s Vijay Nayyar and Kinetic Capital’s Jehan Chu, to predict a further depressive move below $25,000, Anthony Pompliano offered a contrasting bullish outlook. The Morgan Creek Digital

China’s ongoing crackdown on Bitcoin (BTC) mining resulted in a mass relocation of mining operations out of the country and it has led to a more than fifty percent drawdown in the Bitcoin network hashrate from an all-time high of 197.9 exahash per second (ehash/s) on April 15 to its current rate at 97 ehash/s. 

The head of crypto investment giant Grayscale believes that only a “couple of maturation points” separate the United States from its first Bitcoin (BTC) exchange-traded fund (ETF). Speaking to CNBC on July 19, Michael Sonnenshein reiterated that a U.S. ETF is a matter of “not ‘if,’ but ‘when.’” Sonnenshein: “If, not when” for U.S. Bitcoin

In the last 29 days, Bitcoin (BTC) has been ranging from $31,000 to $36,000 as the impact of the recent China ban and a $1.4 billion Grayscale GBTC share unlocking continue to pressure markets. China’s government implemented a series of measures to curb cryptocurrency mining and trading by ordering the immediate shut down of some

It’s now three months since the last Bitcoin (BTC) all-time high, but one measure suggests that holders may be waiting even longer for the next. In a series of tweets on July 17, analytics service Ecoinometrics revealed that this year’s descent from all-time highs is the second-longest in Bitcoin bull market history. $30,000 may stay

Bitcoin (BTC) bears should watch out for a potential blow as the number of margined short positions on the Bitfinex exchange crashes by roughly 25%. The dataset dropped to 11,066 BTC as of 12:20 GMT Saturday, compared to 14,897 BTC at the session’s open. Meanwhile, the drop came as a part of a bigger downside

Dollar traders have kept a close eye on a potentially bullish “inverse head-and-shoulders” pattern building in the U.S. dollar index (DXY) chart. Meanwhile, the smell of a stronger greenback is weakening Bitcoin’s (BTC) upside case, especially as the flagship cryptocurrency struggles to break out of its current $30,000-35,000 trading range. Three troughs, one price ceiling

Bitcoin (BTC) passed $32,000 later on July 16 as positive reactions over Bank of America’s (BoA) Bitcoin futures go-ahead continued. Bitcoin nears $32,300 point of interest  Data from Cointelegraph Markets Pro and TradingView showed BTC/USD rising 1.4% on the day to hit new local highs of $32,150 on Bitstamp. The pair saw an abrupt reversal of

Bitcoin (BTC) may be a “scam” for former U.S. president Donald Trump, but his treasury secretary appears to have made a U-turn on the world’s first and best-known cryptocurrency. Speaking to CNBC on July 14, Steven Mnuchin confirmed that his perspective on Bitcoin had “evolved.” Mnuchin: Bitcoin stance has “evolved a little” The Trump administration

Bitcoin (BTC) dropped to its “final support zone” above $31,000 on July 15 as a low grind downward brought fresh predictions of a BTC price crash. Binance debacle spreads as $32,000 falls Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting fresh local lows of $31,550 on Thursday. The pair had made little progress overnight,