3 reasons Bitcoin recovered by 8% overnight — Key levels to watch next

The price of Bitcoin (BTC) recovered by more than 8% overnight on March 1 following a steep drop during the weekend. There are three reasons the price of Bitcoin recovered swiftly in the past 24 hours. They include the recovering global stock market, rising Coinbase premium, and a typical weekend reversal. BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview Rising global stock market coincides with weekend reversal The global stock market has started to recover as soon as the market opened on Monday, March 1. The stock market slumped over the…

3 reasons why Reef Finance, Bridge Mutual and Morpheus Network are rallying

As new institutional and retail investors enter the cryptocurrency space on a daily basis, large-cap top performers like Bitcoin (BTC) and Ether (ETH) attract the lion’s share of investor’s attention as they are the well-known ‘secure’ blockchain projects.  Once these new investors get a taste of the mainstay cryptocurrencies and how to navigate the volatile markets, their attention soon turns to smaller cap coins as they search for the up-and-coming projects that could be the next big thing. Currently, CoinMarketCap shows that there are 8,475 tokens and more are added daily.…

3 reasons Bitcoin price is quickly recovering from its ‘severe’ 23% correction

The price of Bitcoin (BTC) quickly recovered from around $44,800 to over $50,000 within merely 22 hours.  Behind the rapid recovery are three major factors, including low funding rates, Square’s $170 million Bitcoin purchase, and the spot market stabilizing. Bitcoin futures funding rates substantially drop Across major futures exchanges, including Binance, Bybit and Bitfinex, the funding rate of Bitcoin has dropped to 0.01%. The Bitcoin futures funding rate was consistently above 0.1% throughout the entirety of the rally from the $40,000s to $58,000. BTC/USDT 4-hour price chart (Binance). Source: TradingView.com…

3 reasons why Fantom (FTM) price continues to rally to new all-time highs

Interoperability has emerged as the hot topic in February as platforms like Binance Smart Chain and Polkadot work on building Ethereum network bridges that allow users to escape high transaction costs and network congestion. Fantom (FTM) is the latest project to receive a boost by offering cross-chain functionality with Ethereum, and data from Cointelegraph Markets and TradingView shows a 1,570% increase in FTM price from $0.025 on Jan. 23 to a new high of $0.43 on Feb. 21. FTM/USDT 4-hour chart. Source: TradingView Three fundamental reasons for Fantom’s current rally…

2 Key Reasons Why Bitcoin Bulls Expect Further Upside

Bitcoin has seen strong gains over the past seven days. According to CoinGecko, the leading digital asset is up 16% in the past seven days, outperforming Ethereum and a number of other digital assets. Despite this strong rally in the price of the leading digital asset, analysts are expecting further gains in the weeks ahead. Here are a few reasons why this sentiment has been shared about Bitcoin. Related Reading: Wall Street Veteran Kickstarts Own Bitcoin Fund With $25m Investment #1: Bitcoin Is Seeing Strong Corporate Demand Bitcoin is seeing…

3 reasons why IOST price has risen 650% in 2021

Keeping up with the latest trends in cryptocurrency is a must for projects that want to stay relevant and continue to gain market share. The hype is currently swirling around decentralized finance (DeFi) and NFTs (non-fungible tokens) — and IOST is one protocol that has been capitalizing on these growing movements to help expand its community.  Data from Cointelegraph Markets and Tradingview shows that the price of IOST, the 78th-ranked digital asset by market capitalization, has risen 650% since Jan. 8, from $0.0058 to $0.045 on Feb. 17, its highest…

3 Reasons Why Bitcoin’s Price Just Fell by $3K

Bitcoin saw a significant drop early on Monday, soon after it had looked primed for a convincing move above $50,000.  The top cryptocurrency slipped from nearly $49,000 to $45,926 during the early Asian hours and was last seen changing hands near $47,790 – down 1.8% on the day, according to CoinDesk 20 data.  The decline surprised many investors, as a notable all-time high milestone had looked on the cards amid optimism generated by the recent wave of institutional adoption.  So what happened? Here are three reasons that may explain the…

3 reasons why Theta price hit a new all-time high at $3.49

The sustained bullish performance from Bitcoin (BTC) and Ether (ETH) has increased the confidence of crypto investors and many are now looking deeper into projects that have strong fundamentals and offer real-world use cases.  This week investors turned their attention to Theta (THETA), a decentralized network that allows users to share bandwidth and computing resources in order to stream video. In the last two months THETA price has increased by more than 350%, rallying from $0.66 on Dec.10 to a new all-time high of $3.44 on Feb.13. THETA/USDT 4-hour chart.…

Traders say there aren’t many reasons to be bearish on Bitcoin

Bitcoin hit just shy of $50,000 in the past 24 hours, following news earlier this week that Tesla had purchased $1.5 billion worth of the asset. Despite Bitcoin (BTC) rising more than 100% past its 2017 high near $20,000 over the course of the past few months, Cheds, a crypto analyst and trader on Twitter, thinks the scene remains bullish.  “I think many people are looking for a local top here, or perhaps reasons for one because the price has risen so far so fast,” Cheds told Cointelegraph. Cheds is CMT level I…