Bitcoin Exchange Inflows Spike as Analyst Expects Pullback to $8.8K

Bitcoin (BTC) edging ever closer to $9,000 support may lead to a major sell-off by exchange users, one analyst warns. According to data from on-chain analytics resource CryptoQuant, inflows of BTC to exchanges spiked on July 15. Kraken posts unusual $38.5M daily BTC inflows When traders return Bitcoin to exchanges from a private BTC wallet, it suggests they have a desire to trade or sell at short notice. The opposite is also true — as Cointelegraph reported, exchange balances witnessed a long-term downtrend which in May hit its lowest since…

Market Wrap: Bitcoin Dips to $8.8K but Optimism Seen Continuing Ahead of Halving

Bitcoin’s trading volume was lower on Monday compared to the latter part of last week but traders appear to be staying optimistic ahead of the expected bitcoin halving next week.  Bitcoin (BTC) was trading down less than 1 percent over 24 hours , with 10-day and 50-day technical indicator moving averages signaling bearish sentiment Monday. In early trading at 00:00 UTC, the world’s first cryptocurrency’s price tumbled from $8,950 to $8,533 but rebounded to at $8,837 as of 20:00 UTC (4 p.m. EDT). Bitcoin trading on Coinbase since May 1Source:…

Bitcoin Rises Back to $8.8K Even as Futures on US Stocks Drop

Bitcoin is up again Friday as losses are seen in U.S. stocks futures. Following a rise of 23% over the last two days, though, the rally looks overstretched and the gains may be short-lived. At press time, the biggest cryptocurrency by market value is trading near $8,860, representing a 2.8 percent gain on the day, according to CryptoX’s Bitcoin Price Index. Prices have risen from lows near $8,600 seen earlier today. Meanwhile, the futures tied to the S&P 500, Wall Street’s equity index, are down over 2 percent. Renewed growth…

Bitcoin Rises Back to $8.8K Even as US Stock Futures Drop

Bitcoin is up again Friday as losses are seen in U.S. stock futures. Following a rise of 23% over the last two days, though, the rally looks overstretched and the gains may be short-lived. At press time, the biggest cryptocurrency by market value is trading near $8,860, representing a 2.8 percent gain on the day, according to CoinDesk’s Bitcoin Price Index. Prices have risen from lows near $8,600 seen earlier today. Meanwhile, the futures tied to the S&P 500, Wall Street’s equity index, are down over 2 percent. Renewed growth…