Category: Bitcoin Analysis

Bitcoin and Gold Should “Hold Up” if Stocks Unwind

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Bitcoin has slid lower as legacy markets have undergone a strong correction over recent days. This was evident when BTC crashed around 8% when the S&P 500 slid by around 3% in a single trading session. The leading cryptocurrency seems primed to move lower if stocks continue to drop. But according to a macro analyst, if stocks slip lower, gold and Bitcoin may be able to hold up well. Related Reading: These 3 Trends Suggest BTC Is Poised to Bounce After $1,000 Drop Bitcoin Could Hold Up If Stocks Drop: Macro…

Bitcoin Bears May Soon Be Punished as On-Chain Data Grows Bullish

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Bitcoin has seen some incredibly bearish price action throughout the past few days, with the cryptocurrency’s price declining to lows of $9,900 before being able to find some strong support. The buying pressure here did prove to be rather significant, as it allowed the token to rally higher and once again stabilize within the lower-$10,000 region. This mixed price action has done little to offer insight into its near-term trend, but it does appear that BTC is at a pivotal point. Any sustained dip below $10,000 could cause it to…

Bitcoin Price Slips Below $10,000, Liquidating $40 Million

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Bitcoin has sustained a strong correction over the past few days as legacy markets have turned red. The price of the leading cryptocurrency just plunged under $10,000 minutes ago for the third time in the past 48 hours. BTC now trades for $9,950 as of this article’s writing, around a percent or two above the local lows of $9,800. The market’s momentum seems to be bearish. This is exemplified by futures markets for Bitcoin, which have begun to print a series of negative funding rates, which means the prices of…

This Simple Chart Shows Why Bitcoin Remains Bullish on a Macro Scale

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Bitcoin has sustained a strong drop over the past few days as legacy markets have undergone a strong correction after a record rally. The leading cryptocurrency traded around $9,800 on Friday morning as bears sent the cryptocurrency lower. This is a stark correction from the $12,000 local highs seen just days ago and the $12,500 seen in August. Bitcoin remains bullish on a macro scale, though, as analysts note that the asset’s long-term chart and fundamentals remain skewed to appreciation. Related Reading: These 3 Trends Suggest BTC Is Poised to Bounce…

Trader That Predicted Bitcoin’s Plunge Under $10,000 Thinks This Comes Next

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Few expected Bitcoin to be in the position it’s in now just days ago. Just earlier this week, the leading cryptocurrency was riding high, trading above $12,000 as investors thought the rally to new all-time highs had begun. There were reasons to believe this: gold was surging, the U.S. dollar was crashing, increased inflation was hinted at, and altcoins were surging. But one trader, the whole time, was predicting a strong move lower under $10,000 to $9,755. With Bitcoin having traded under $10,000 twice in the past few days, he’s…

Bitcoin’s Selloff Shakes Out “Top Buyers” as Analysts Eye Further Blood

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It has been a rough past few days for Bitcoin, with the benchmark digital asset erasing virtually all of the gains that came about as a result of its strong uptrend seen throughout the past several days and weeks. The cryptocurrency has mostly been consolidating for the past couple of months, with buyers ardently defending $11,000 while bears stopped it from breaking above $12,000. The latest rejection it posted within the lower-$12,000 region happened just a few days ago and was the event that first caused the market to begin…

3 Key Reasons Why Bitcoin Could Bounce After $2,000 Drop

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Bitcoin has experienced a strong drop in the past 48 hours after a strong rally to start the week. The leading cryptocurrency now changes hands for $10,300 after it underwent a strong $2,000 correction that brought it as low as $9,990 on Friday morning. There are crucial reasons why the cryptocurrency could soon undergo a strong bounce. Traders are critically eyeing the $10,500 as we head into the weekly close due to that level’s macro importance to BTC’s price action. Bitcoin should bounce soon if it is to maintain its…

Bitcoin Nosedives To $10,000: Here Is Why It Could Correct In Short-Term

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Bitcoin price declined over 10% and it traded close to the $10,000 support against the US Dollar. BTC might correct higher, but upsides are likely to remain capped near $10,800. Bitcoin started a strong decline and it weakened over $1,000 in the past three sessions. The price is down over 10%, and it broke the $10,500 support and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $10,750 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair…

Here Are the Levels to Watch After Bitcoin Plunged $1,500

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Earlier this week, Bitcoin surmounted $12,000 as global markets surged as the U.S. dollar saw a notable collapse. The world’s reserve currency, though, has since reversed, dragging down global markets with it. Like the stock market and precious metals, BTC has recently sustained a heavy correction. The cryptocurrency has plunged around 12% in the past 48 hours, shedding notable price support levels. Analysts note that all hope is not lost yet. Here are levels that the leading cryptocurrency must hold in the near future to maintain its technical uptrend as…

Barron’s Recommends Hedging A Stock Portfolio, But What About Bitcoin?

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Barron’s, an American finance publication operated by Dow Jones & Company, has given a rare suggestion to its audience to hedge their stock portfolios ahead of the upcoming election. The risk hanging over the market could also be responsible for the recent collapse in Bitcoin. Given the recommendation, how should crypto investors consider hedging their portfolio too? Or should stock market investors consider hedging against uncertainty with Bitcoin? Barron’s Warns Of Stock Market Decline, Recommend Hedging Portfolio Ahead Of “Weird” Election In a new report from financial market magazine Barron’s,…