Category: Bitcoin

Bitcoin price and Coinbase volumes are showing a rare decoupling, Mizuho says

boss

It’s becoming clear that investor apathy in this year’s crypto market is starting to hurt Coinbase , according to Mizuho analysts. The crypto exchange’s trading volume historically has been influenced by moves in the price of bitcoin . But that trend has been falling apart since the beginning of the year, Mizuho managing director Dan Dolev said in a note Tuesday, calling it a “stark” and “likely unprecedented” bifurcation. Dolev highlighted that while bitcoin has risen from its fourth-quarter 2022 trough to an average of $28,500 in the third quarter…

Bitcoin Price Prints Bearish Technical Pattern, Why It Could Drop To $24K

boss

Bitcoin price broke the key $25,350 support. BTC is now consolidating near $25,000 and remains at a risk of more downsides in the near term. Bitcoin traded below the $25,600 and $25,350 support levels. The price is trading below $25,600 and the 100 hourly Simple moving average. There is a major bearish trend line forming with resistance near $25,620 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down if it stays below the $25,600 resistance. Bitcoin Price Breaks Key Support…

Bitcoin Bulls Continues To Struggle, Here’s Why Upsides Could Be Limited

boss

Bitcoin price is still consolidating above $25,500. BTC might attempt an upside correction, but upsides might be limited above the $26,200 resistance. Bitcoin is still trading in a range above the $25,500 support zone. The price is trading below $26,000 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $25,950 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could attempt to recover but the bears might remain active near $26,200. Bitcoin Price Stuck In Range…

Bitcoin and crypto are about to embark on a ‘much stronger fundamental’ rally, Bernstein predicts

boss

The setup for the next bitcoin bull run has become even clearer wiafter last week’s landmark ruling in Grayscale’s suit against the Securities and Exchange Commission delivered what Bernstein calls a “game changer” for asset managers. This time, however, it will be led by institutions rather than retail investors, which helps explain why crypto prices remain stagnant despite having several positive catalysts in recent weeks. “The strong showing in the courts (Ripple and Grayscale in two months), improved ETF chances and the progressive institutional interest are positioning crypto for an…

Here’s the bitcoin outlook for September as crypto industry turns focus on Washington

boss

Bitcoin is poised to end August on a down beat despite the crypto industry scoring a milestone win on the regulation front. The cryptocurrency could be mired in a range during September, market participants say. The cryptocurrency is on pace for a 10% decline this month, according to Coin Metrics. Bitcoin recently jumped 7% after a federal appeals court sided with Grayscale over the Securities and Exchange Commission in a key crypto ETF case. However, that wasn’t enough to lift the flagship crypto back to the $29,000 level. Investors are…

Here’s what’s next for bitcoin ETFs after a court ruled in favor of Grayscale over the SEC

boss

The Securities and Exchange Commission’s approach to regulating the crypto industry took another blow on Tuesday in a court case that could prove to be a key milestone in the ongoing fusion of bitcoin and traditional asset management. A federal appeals court struck down the SEC’s order denying the conversion of the Grayscale Bitcoin Trust (GBTC) into an exchange traded fund. Specifically, the ruling swatted down the regulator’s argument that the spot and futures markets for bitcoin were separate enough to justify holding off direct crypto ETFs even though futures…

Bitcoin’s most faithful are staying put despite the crypto market’s recent weakness

boss

Even after a big correction, which followed weeks of almost complete inactivity, and a new focus on real rates, bitcoin’s most patient investors are still holding onto their coins. The cryptocurrency closed at $25,972.52 on Friday and lost 0.25% for the week – its eight negative week in the past nine, according to Coin Metrics. It had posted an 11% decline for the previous week. Coin Metrics measures a week in crypto, which trades 24 hours a day, from the 4:00 p.m. ET stock market close one Friday to the next.…

Bitcoin ordinals inscriptions have been climbing steadily this summer despite lull in prices

boss

Ordinals inscriptions have been consistently higher this summer, while the price of bitcoin was in a lull. The number of ordinals recorded onto the Bitcoin blockchain has spiked above 400,000 three times since July 30, surpassing their May high of 400,091, according to Dune Analytics. Twice in July they jumped above 385,000. Ordinals are a new protocol that makes it possible to store and trade digital content on the Bitcoin blockchain. The idea is similar to NFTs, barring some technical differences, and investors are excited about their ability to bring…

Bitcoin Price Trims Gains But Resistance Turned Support Intact

boss

Bitcoin price started a downside correction from $30,200. BTC is now trading near the previous breakout resistance at $29,400. Bitcoin is correcting gains and trading below the $29,800 level. The price is trading above $29,400 and the 100 hourly Simple moving average. There was a break below a key bullish trend line with support near $29,840 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $29,400 support zone. Bitcoin Price Holds Support Bitcoin price started a…

What bitcoin investors can learn from Litecoin’s halving this week

boss

Traders have been looking to next spring’s Bitcoin halving as a beacon of hope while regulatory uncertainty weighs on the industry and trading volumes remain suppressed. The halving is a market moving event that typically happens every four years when the reward for mining bitcoin is cut in half, as designed in the Bitcoin code, to reduce the supply of the cryptocurrency. Historically, it has set the stage for new bull runs, and the next one is expected to come in May 2024. Meanwhile, Litecoin – an offshoot of Bitcoin that…