Category: Analysis

Small bitcoin stake makes sense regardless of cryptocurrency thesis, says Fidelity

boss

Some investors might be trying too hard to understand bitcoin and missing an investing opportunity in the process, according to an executive from Fidelity Digital Assets. Matt Horne, head of digital asset strategies at the firm’s custody and trading arm for institutional investors, said investors and advisors are busy sharpening their cryptocurrency thesis when a small portfolio allocation is likely appropriate for them regardless of their thesis. “You could have multiple investment theses on bitcoin, and that’s okay,” Horne said Monday at the 2024 Vision conference, a crypto investing conference…

Bitcoin Price Gains Momentum: Bullish Surge Ahead?

Bitcoin price found support at $67,000 and started a fresh increase. BTC climbed above $69,500 and might continue to rise in the near term. Bitcoin started a decent increase above the $68,500 and $69,500 resistance levels. The price is trading above $68,500 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance at $68,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it settles above the $69,500 level. Bitcoin Price…

Binance Discontinues Cash Payment Option for P2P Crypto Trades in India

Binance users in India can no longer avoid tax payments by making cash deposits for P2P trades as the exchange has suspended this option. Major crypto exchange Binance has blocked the use of cash payments for peer-to-peer (P2P) cryptocurrency trades in India. Local users can no longer buy or sell supported cryptocurrencies by depositing or receiving cash payments. Binance P2P Users in India Cannot Use Cash Anymore Before now, Binance allowed Indian traders to use an escrow option that allows users to close transactions after cash has been received or…

Bitcoin Price Slips Lower: Slow Descent or Opportunity Ahead?

Bitcoin price extended losses and declined below the $67,200 level. BTC found support near $66,650 and now consolidating in a range. Bitcoin spiked below $67,000 but the bulls are still in action. The price is trading above $68,000 and the 100 hourly Simple moving average. There is a key rising channel forming with resistance at $68,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it settles above the $68,400 level. Bitcoin Price Stuck Below $70K Bitcoin price extended its…

Bitcoin investors see sideways trading in June as focus turns to Washington

boss

Markets are nearing the official start of summer, but bitcoin may languish in June. The flagship cryptocurrency jumped 13% in May, according to Coin Metrics, its eighth monthly gain in the past nine months and its best month since February, when it soared 44%. That’s thanks to last week’s ether-led rally ahead of the SEC’s approval of a rule change allowing ether ETFs in the U.S., when ether surged 20% in two days. Now, aspiring sponsors of ether ETFs need to file their S-1 registration forms for the individual funds.…

Crypto Analyst Reveals Why $69,000 Is Very Important In The Grand Scheme Of A Bitcoin Recovery

boss

Crypto analyst Pierre has provided insights into why $69,000 is a significant price level for Bitcoin. He suggested the flagship crypto could hit a new all-time high (ATH) if it successfully holds above that range.  A Breakout Above $69,000 Could Lead To A Bitcoin Recovery Pierre mentioned in an X (formerly Twitter) post that Bitcoin must break above $69,000 as it would allow the crypto token to retest a range around the ATH region of $73,000. This could also open up the possibility of the flagship hitting a new ATH…

Bitcoin ETFs aren’t winning the hearts and minds of financial advisors

boss

Omer Taha Cetin | Anadolu | Getty Images A major thesis around bitcoin ETFs was that financial advisors needed regulated funds like them to direct their wealthy clients to invest in bitcoin. Almost six months after the launch of those ETFs, there are few signs that advisors are clamoring for the funds. Many remain just as averse to bitcoin now as they were before. That doesn’t mean the ETFs were a failed experiment, however. For one, bitcoin ETFs have been hailed as the most successful ETF launches in history, with BlackRock’s iShares Bitcoin Trust (IBIT) reaching…

DOGE Hang On Tight or Prepare to Bark!

Dogecoin corrected gains and tested the $0.1620 zone against the US Dollar. DOGE is now forming a base and might start a fresh increase above $0.1680. DOGE price declined and tested the key support at $0.1620. The price is trading below the $0.1650 level and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $0.1685 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price must settle above $0.170 to move into a positive zone and start a fresh…

Can Cardano (ADA) Bounce Back? A Closer Look at Its Recovery Potential

Cardano (ADA) corrected gains and tested the $0.4520 support zone. ADA must stay above the $0.450 support to start a fresh upward move. ADA price is struggling to gain bullish momentum above the $0.4750 zone. The price is trading below $0.460 and the 100-hourly simple moving average. There was a break above a connecting bearish trend line with resistance at $0.4570 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could gain bullish momentum if there is a close above $0.4620. Cardano Price Tests Support…

Bitcoin Price Struggles to Reclaim $70K: Will the Bulls Prevail?

boss

Bitcoin price struggled to stay above $70,000 and corrected gains. BTC is now trading below $69,000 and showing a few bearish signs. Bitcoin extended its downside correction below the $69,000 zone. The price is trading below $69,000 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at $67,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase unless there is a move below the $67,500 support. Bitcoin Price Revisits Support Bitcoin price started…