Tag: 118K

Market Wrap: Bitcoin Bounces to $11.8K; Over 10K BTC Locked in Harvest Finance

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Bitcoin traders hit the buy button Monday while a DeFi project gains $135 million in BTC locked since the start of September. Bitcoin (BTC) trading around $11,689 as of 20:00 UTC (4 p.m. ET). Gaining 2.2% over the previous 24 hours. Bitcoin’s 24-hour range: $11,409-$11,839 BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin trading on Bitstamp since Oct. 17. Source: TradingView Bitcoin’s price is making major gains Monday, with a rally starting around 12:00 UTC (8 a.m. ET) and the price jumping from…

Bitcoin Sells Off At $11.8K ahead of Powell Speech; Is $10.5K Next?

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Much of Bitcoin’s short-term market bias now hinge on the outcome of the virtual Jackson Hole meeting at the end of this week. The benchmark cryptocurrency showed signs of weakness ahead of the event. It fell by close to 1.5 percent during the early London trading session Tuesday after setting an intraday top at $11,823 a day before. Traders showed resilience to enter the market at the said high as they waited for the monetary policymakers to shed more light on the global economy’s health. To Ease or Not to…

Market Wrap: Bitcoin Hits $11.8K; Ethereum Gas at All-Time High

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The bitcoin market is experiencing low volume Monday but ether continues to fuel DeFi’s growth. Bitcoin (BTC) trading around $11,737 as of 20:00 UTC (4 p.m. ET). Gaining 0.34% over the previous 24 hours. Bitcoin’s 24-hour range: $11,592-$11,823. BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin trading on Coinbase since August 22.Source: TradingView Read More: Leveraged Funds Take Record Bearish Positions in Bitcoin Futures Bitcoin’s price opened the week heading higher, hitting $11,823 on Monday before dipping lower. “Bitcoin has settled into a…

Market Wrap: Bitcoin Breaks $11.8K; BTC in DeFi Doubles in August

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Bitcoin’s price is trending up while August has been a hot month for the cryptocurrency in decentralized finance. Bitcoin is on the uptrend, going as high as $11,891 with buyers outnumbering sellers in the market Thursday. ”This is similar to what we saw on Sunday, Aug. 9 – a quick move from $11,500 to $12,000 and then back to $11,300,” said John Willock, CEO of crypto asset manager Tritum. “Maybe we’ve got $13,500 in the next phase up in the coming days,” he added.  David Lifchitz, chief investment officer for…

Market Wrap: Bitcoin Slides to $11.8K; Uniswap at $7M in Monthly ETH Fees

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Bitcoin’s prices were off from Monday’s high. Meanwhile, high fees on Ethereum helped decentralized exchange Uniswap rake in $7 million over the past month. Bitcoin (BTC) trading around $12,002 as of 20:00 UTC (4 p.m. ET). Slipping 2.8% over the previous 24 hours. Bitcoin’s 24-hour range: $11,825-$12,412 BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians. Bitcoin trading on Coinbase since Aug. 16. Source: TradingView Read More: Bitcoin Mining Pools See Hashrate Drop Amid Rainstorms in China After hitting a 2020 high Monday, bitcoin dipped…

Market Wrap: Bitcoin Bounces to $11.8K as Ether Option Traders Go Bearish

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Bitcoin is up Friday while ether options traders are overwhelmingly bearish. “Crypto has had a good run for about three weeks in a row, since late July,” said David Lifchitz, chief investment officer for quantitative trading firm ExoAlpha. “There is a current resistance level of $12,500 for bitcoin, which looks pretty normal as markets, even crypto, cannot go up in a straight line day after day.” Indeed, over the past month, bitcoin reached a high of $12,130 before dipping. That signaled a retrenchment will be likely before a move to further…

Bitcoin Price Eyes New 2020 High Once Bulls Break $11.8K Resistance

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Bitcoin (BTC) price perked up on August 5, rallying from $11,090 to $11,784 before briefly retracing to the $11,650 area as the daily close approached. Currently the price trades near the $11,500 support after bulls were unable to tackle the $11,800 level.  Despite a pullback to lower support, Wednesday’s 6.29% push through the $11,100 to $11,250 zone was much needed as the price had lingered below this level for about 3 days.  BTC/USD 4-hour chart. Source: TradingView As the 4-hour chart shows, once above $11,450, traders were able to slice…