Tag: 116K

Market Wrap: Bitcoin Bumps Close to $11.6K; Ether Options Open Interest Dips

boss

Bitcoin bounced close to $11,600 before retreating a bit while ether options traders are less active than they were in September. Bitcoin (BTC) trading around $11,552 as of 20:00 UTC (4 p.m. ET). Gaining 1.7% over the previous 24 hours. Bitcoin’s 24-hour range: $11,186-$11,598 BTC is above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin trading on Coinbase since Oct. 9.Source: TradingView After a flat weekend that saw the world’s oldest cryptocurrency stick to a tight $11,300-$11,400 range, bitcoin’s price jumped Monday as high as…

Bitcoin briefly hits $11.6K as Fed says it will let inflation pass 2%

boss

Bitcoin (BTC) spiked to $11,600 on Aug. 27 as the United States Federal Reserve committed to maintaining an average of 2% inflation. Data from Coin360 and Cointelegraph Markets showed BTC/USD jumping several hundred dollars on Thursday as Fed Chair Jerome Powell delivered a speech on the state of the economy. Cryptocurrency market daily snapshot, Aug. 27. Source: Coin360 Powell: inflation can go “moderately above 2%” Markets had been waiting for signs about inflation retargeting, with rumors previously suggesting that the Fed would allow rates to go as high as 4%.…

Bitcoin price hits $11.6K as Fed says it will let inflation pass 2%

boss

Bitcoin (BTC) spiked to $11,600 on Aug. 27 as the United States Federal Reserve committed to maintaining an average of 2% inflation. Data from Coin360 and Cryptox Markets showed BTC/USD jumping several hundred dollars on Thursday as Fed Chair Jerome Powell delivered a speech on the state of the economy. Cryptocurrency market daily snapshot, Aug. 27. Source: Coin360 Powell: inflation can go “moderately above 2%” Markets had been waiting for signs about inflation retargeting, with rumors previously suggesting that the Fed would allow rates to go as high as 4%.…

Market Wrap: Bitcoin Dips to $11.6K, ETH Options Predict Price Below $400 by End of Year

boss

Bitcoin traders are hitting the sell button Friday while the ether options market loads up on lower prices. Bitcoin (BTC) trading around $11,674 as of 20:00 UTC (4 p.m. ET). Slipping 1.4% over the previous 24 hours. Bitcoin’s 24-hour range: $11,605-$11,892. BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians. Bitcoin trading on Coinbase since August 19.Source: TradingView Read More: Bitcoin Options Open Interest Nears All Time High After holding around $11,800 Thursday into Friday, bitcoin started to slide downward around 08:00 UTC (4 a.m.…

Market Wrap: Bitcoin Sinks to $11.6K as Ether’s Gas Keeps Rising

boss

Bitcoin traders are hitting the sell button. On Ethereum, DeFi is boosting fees again. Bitcoin traded as low as $11,613 Tuesday. Traders continued selling the world’s oldest cryptocurrency after it hit a 2020 high of $12,485 on Monday. For the time being, it may struggle to break much higher from that.  “Too much resistance at $12,000,” said over-the-counter crypto trader Alessandro Andreotti. “So it’s just going to go sideways for a while.”  Katie Stockton, analyst for Fairlead Strategies, expects a weaker bitcoin market ahead. “There are signs of short-term upside…

3 Reasons For $11.6K Bitcoin Price Drop and Why It Wasn’t a Surprise

boss

The price of Bitcoin (BTC) pulled back after achieving a new 2020 high at $12,486 on Coinbase. In the last 48 hours, BTC fell by around 5%, leading to larger losses in the altcoin market. There are three key reasons why Bitcoin rejected at the $12.4k level, namely major resistance, high funding rates, and an overheated rally. But traders believe it was a healthy pullback that could strengthen the momentum of BTC. Is a $1,000 correction healthy? As seen in previous Bitcoin price cycles, the digital asset typically sees a…

Bitcoin Price Rebounds to $11.6K as VIX Is ‘Extremely Bullish’

boss

Bitcoin (BTC) soared past the key technical resistance level of $11,500 and past $11,600 on Aug. 5 as a fresh round of bullish sentiment canceled out more of last weekend’s plunge. Cryptocurrency market daily snapshot Aug. 5. Source: Coin360 Data from Coin360 showed BTC/USD reaching four-day highs of $11,650 at press time on Wednesday, having gained over 4% in the past 24 hours. BTC/USD 1-day chart. Source: Coin360 Excitement remains palpable for Bitcoin, which has spent the week slowly patching up losses after it fell $1,200 from highs of $12,000…

Bitcoin ‘Fills’ $11.6K Futures Gap, But Is $10K More Likely Than $15K?

boss

The price of Bitcoin (BTC) has seen a great week with a surge to $11,700. After two months of consolidating inside a range, the price of Bitcoin finally broke through the psychological barrier of $10,000 and currently faces the final hurdle before the bull market can start.  Most often, people become bullish once they see green candles, with which extraordinary targets can be found on social media. Can these be justified or is a cool-down period more likely in the near term?  Cryptocurrency market daily snapshot 1/8/2020. Source: Coin360 Bitcoin…

Bitcoin Hits $11.6K for First Time in a Year as Traders Expect $15K

boss

The price of Bitcoin (BTC) has surpassed $11,600 for the first time in 12 months buoyed by rising market sentiment. As BTC/USD demonstrates strong momentum, investors believe there is little resistance until $15,000. Cryptocurrency market daily snapshot. Source: Coin360 Bitcoin rose to as high as $11,763 on BitMEX in a sudden weekend price move. It also “filled” the CME futures gap at around $11,630, which typically does not happen during the weekend. Little resistance between $12,000 and $15,000 Meanwhile, Kyle Davis, the co-founder of Three Arrows Capital, suggests that the…