The Luna Foundation Guard’s 80k Bitcoin Sold to Save UST’s Peg Were Likely Scooped Up By BTC Whales

Summary: Earlier this month, the Luna Foundation Guard drained its 80k Bitcoin reserves to save UST’s peg. According to Glassnode, the Bitcoin sold to save UST’s peg likely ended up being bought by small-time BTC whales owning less than 100 coins. The Luna Foundation Guard now holds 313 Bitcoin, down from 80,394 BTC declared on May 7th, 2022. According to an analysis by the team at Glassnode, the Luna Foundation Guard’s (LFG) 80k Bitcoin sold in an attempt to save UST’s peg likely ended up being bought by small BTC…

Analysts flag Bitcoin price levels to watch after LFG sells 80K BTC

Bitcoin (BTC) needs to hold current levels and work to reclaim higher ones to avoid a crash in the $20,000 range, the latest analysis warns.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Is $20,000 incoming? Data from Cointelegraph Markets Pro and TradingView showed BTC/USD still failing to cement $30,000 as support on the May 16 Wall Street open. The pair had seen fresh losses after the weekly close at $31,300 — this, in itself, disappointing market participants after sealing a record seventh consecutive red weekly candle. Even as the Luna Foundation…

Bitcoin hits 2022 high as analyst gives new $80K BTC price target

Bitcoin (BTC) gave $48,000 a second grilling on March 29 after a modest overnight correction provided a welcome respite from the upside. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader has “strong doubts” over crash below $30,000 Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it dipped to local lows of $46,900 before returning to crack $48,000 prior to March 29’s Wall Street open. The pair maintained support at the yearly open even while consolidating, fueling hopes that the 2022 trading range had been truly broken. Now, while acknowledging…

Bitcoin has stalled, but here’s why pro traders still expect $80K by January

Selecting a timeframe for technical analysis is always a tricky topic, but usually, the longer the trend, the higher the odds it shall prevail. For example, those analyzing the 3-day Bitcoin (BTC) chart will unarguably identify an ascending channel pattern that initiated in late June. Bitcoin price in USD on FTX. Source: Tradingview Bears will also always find ways to justify their views despite the fact that Bitcoin has hit new all-time highs following the United States consumer price surge to 6.2%, which is the biggest inflation surge in 30…

Bitcoin’s consolidation is ‘normal’ — Analysts set $80K BTC price target

Bitcoin (BTC) bulls are still hoping for a major breakout but at the moment, bears are applying pressure and keeping the digital asset pinned below $61,000.  Data from Cointelegraph Markets Pro and TradingView shows that an early morning breakout by bulls to make a run above $62,000 was met with a strong defensive line from the bears who handily rejected the attempt. BTC/USDT 4-hour chart. Source: TradingView Here’s a look at what traders and analysts are saying about Bitcoin’s current price action and what they expect in the short term.…

Fintech panel forecasts $80K BTC price top this year — Finder poll

A favorable macro environment, strong on-chain fundamentals and the approval of new futures-based exchange-traded funds (ETFs) in the United States are set to launch Bitcoin (BTC) to new all-time highs this quarter, according to a survey of fintech industry specialists commissioned by Finder. The 50-person industry panel expects Bitcoin to peak just above $80,000 this quarter before ending the year at around $71,400. The flagship digital currency is trading at $62,600 on Tuesday, according to Cointelegraph Markets Pro. An $80,000 target represents 28% more upside for BTC in the coming…

Bitcoin falls below $58K as Bloomberg eyes $80K BTC price in Q2

Bitcoin (BTC) reversed recent gains to lose 1.5% on April 6 as bulls were kept frustrated with no sign of an attack on all-time highs  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin will “likely” squash $60,000 resistance Cointelegraph Markets Pro and TradingView showed local lows of $57,340 hitting during Tuesday after another failed attempt at tackling $60,000 resistance. Despite being a matter of thousands of dollars away from all-time highs of $61,700, BTC/USD has been unable to drive sellers away for good. While thinning out, the last band of…

Over $6B in Bitcoin Options Set to Expire Today, April Contracts Show Bets for $80K per BTC – Bitcoin News

A number of options traders are betting that bitcoin prices will tap $80,000 by May 2021. Meanwhile, over 100,000 bitcoin options worth more than $6 billion are set to expire on Friday, smashing the previous record expiry seen in January. $6 Billion in Bitcoin Options Set to Drop, April Bets Target $80,000 per Bitcoin Today on March 26, 2021, the crypto ecosystem is about to witness one of the largest options expiries to-date as more than 100k bitcoin options will expire. Today’s $6 billion worth of expiries exceeds the last…

Options traders target $80K by May, Skew suggests just 6% chance they’re right

With Coinbase’s highly anticipated direct listing IPO expected to take place next month, options traders appear to be betting that Bitcoin will once again soar to new all-time highs in the coming weeks. On March 24, the founders of crypto analytics firm Glassnode tweeted data suggesting that options traders on peer-to-peer crypto derivatives exchange, Deribit, are loading up on contracts set to expire on April 30 with a strike price of $80,000. Contracts worth a notional value of 4,000 BTC have been purchased targeting the price-point in total, more than…

High priced $80K Bitcoin options signal pro traders expect more upside

Betting on an $80,000 Bitcoin call options for June doesn’t seem outrageous given BTC’s bullish performance over the past few weeks. This was not the case a couple of months ago when BTC peaked at $42,000 on Jan. 8 and subsequently dropped to the $30,000 level.  Bitcoin price, USD. Source: TradingView At that time, a 150% upside was needed from the $32,000 price on Jan. 26, and this seemed quite far-fetched. Therefore, the June $80,000 BTC call (buy) options traded at Deribit for $2,240, or 0.07 BTC. BTC $80,000 June…