Tag: 11k

3 Reasons Bitcoin Just Tanked Below $11K for First Time in a Month

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Bitcoin prices tumbled 6.2% Thursday, falling below $11,000 for the first time in a month. The price drop trimmed the largest cryptocurrency’s 2020 rally to 50% and sent digital-asset market traders and analysts scrambling to explain the sell-off. Here are three reasons cited by analysts: 1. Bitcoin slid in sync with traditional markets. The Standard & Poor’s 500 Index of large U.S. stocks retreated Thursday after climbing to a new record high earlier in the week. A report showing new U.S. jobless claims at 881,000 in the final week of…

These Simple Factors Suggest Bitcoin May Plunge to $11k Before Surging

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It has been a rocky past couple of weeks for Bitcoin and the aggregated crypto market. Despite some turbulence, BTC bulls have been able to guard against it seeing any significant near-term downside. Late last week, the crypto started gaining some momentum that sent it to highs of $11,600, at which point it faced an influx of selling pressure that caused its price to decline to lows of $11,100. Bulls were able to guard against any further downside and have since pushed the crypto up towards highs of $11,800 that…

Bitcoin Holding Strong At $11K, But 100 SMA Holds The Key To Start Fresh Rally

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Bitcoin crashed more than $1,500 from the $12,115 high against the US Dollar. BTC is currently consolidating above $11,000 and it must surpass the 100 hourly SMA for a fresh rally. Bitcoin is holding a couple of important supports near the $11,000 and $10,850 levels. The price seems to be facing a strong resistance near the 100 hourly SMA and $11,450. There is a key contracting triangle forming with resistance near $11,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the 100…

Crypto Tidbits: Bitcoin Explodes Past $11k, Ethereum 2.0 Nears, Cardano’s Shelley Launches

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Another week, another round of Crypto Tidbits. It’s been an explosive week for the Bitcoin and crypto market, to say the very least. Bitcoin surged from under $10,000 to as high as $11,500 this week. Over the past seven days, the asset has gained approximately 20% — the best weekly performance in many months. Chart of BTC’s price action over the past two weeks from TradingView.com Bitcoin’s recent price action comes as a breath of fresh air for crypto traders, which had to deal with BTC flatlining in the $9,000s for…

Bitcoin Trading Below $11K Now, BTC Price Wants to Grow but Cannot

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On Thursday, July 30th, the BTC growth rate has slowed down. The cryptocurrency is generally trading at $10,936. By Dmitriy Gurkovskiy, Chief Analyst at RoboForex. Bitcoin trading below $11,000 again: BTC price tech analysis Commission fee for BTC transactions has grown New records of BTC trade in the Chicago Mercantile Exchange The growth of the BTC rate: new forecasts On W1, the price has broken the upper border of the descending channel. The quotations keep growing to the resistance level at 100.0% Fibo. The MACD histogram has entered the positive zone,…

Stablecoin On-Chain Activity Explodes as Bitcoin Breaks $11K

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The on-chain activity for the three of the biggest stablecoins exploded as Bitcoin (BTC) was breaking the $11,000 price barrier. 7-day average transfer volume for USDT, DAI, USDC & BTC Price. Source: Glassnode. Stablecoin growth Several stablecoins, including the market-leading Tether (USDT), have recently experienced a significant growth in market capitalization. We observe that a significant increase in the transfer volume of USDT, DAI (DAI), and USDC (USDC) coincided with the latest Bitcoin bull run. It is not clear from the chart whether this metric can be considered a leading…

93% of Bitcoin’s Supply Profitable at $11K, ‘Realized Price’ Recovers from Black Thursday

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Onchain data shows that bitcoin’s breakout above $11,000 puts 93% of the circulating supply in a state of profit. Additionally, seven-day metrics show that bitcoin’s “realized price” has recovered from the low that took place on March 12. The research and analysis firm Glassnode revealed that when the price of bitcoin (BTC) is over the $11,000 range, 93% of bitcoin in circulation becomes profitable. At the time of publication, BTC has been struggling to hold that momentum as the price has shifted below the $11k range a couple of times…

Tether Exchange Inflow Reached 8-Month High as Bitcoin Rallied to $11K

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Tether (USDT) exchange inflow has recently spiked to its highest level in the last 8 months, according to data from on-chain data provider Glassnode. Exchange inflows for the stablecoin reached a 2020 high yesterday as Bitcoin (BTC) soared to $10,270, although BTC has since continued on its rally, currently sitting at $11,000. USDT Exchange inflows. Source: Glassnode While research firms have found that there is an inverse correlation between the USDT held on exchanges and the price of Bitcoin, the inflow can also be considered as a bullish sign for…

Bitcoin Price Can Hit $28K, Says Max Keiser, as BTC Crossed $11K Mark

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With sharp bullish trends for BTC in recent days, Bitcoin’s relevance in the investment world keeps gaining investors’ attention. Bitcoin (BTC) has shown impressive bullish runs in the past days capped with hitting the recent high of $11,300. This surprising Bitcoin move has prompted analysts including Max Keiser to project new highs for the coin. Max Keiser in a series of tweets pitched Bitcoin to hit an all-time high with six figures after first correcting at $28,000. Somewhere, @PeterSchiff is puking his brains out right now. 🤮 $28,000 is in…