Tag: Bitcoins

Bitcoin’s brief sub-$41k plunge triggered ‘buy the dip’ social sentiment

boss

Bullish outlooks prevailed on crypto social media as proponents encouraged tapping price dips even as Bitcoin fell over 10% in a single day.  According to blockchain data provider Santiment, the number of “buy the dip” calls on platforms like Telegram, Reddit, Twitter, and 4chan skyrocketed beyond a 323 level not seen since March 2022. Buy the dip social volume and Bitcoin’s USD price | Source: Santiment Buy the dip sentiment surged following a sharp drop in the price of Bitcoin (BTC), crypto’s top token by market cap. BTC’s short nosedive…

Traders liquidate almost $700m amid Bitcoin’s precipitous decline

boss

Against the falling Bitcoin (BTC) exchange rate, the daily liquidation volume on the crypto market approached $700 million. Traders liquidated $698 million worth of positions in the last 24 hours, according to Coinglass data. Source: Coinglass The majority came from BTC, $11.1 million, with the vast majority coming from short positions. Ethereum (ETH) became the second most popular asset for liquidation, with traders liquidating $5.57 million worth of positions, most of which came from long. Source: Coinglass Positions were mainly liquidated on crypto exchanges Binance, OKX, and Bybit. The most…

Bitcoin’s (BTC) Strong Start to January May Falter

Although bitcoin began January by hitting a 21-month high above $45,000, the month has historically not seen positive returns. Only twice in the past five years has the largest cryptocurrency gained in January, according to data from TradingView. Bitcoin gained 40% last January, but lost 16% the year before. It dropped 8% over 24 hours to trade at around $42,000 on Wednesday. Still, there’s room for bitcoin to rally should a spot bitcoin exchange traded fund (ETF) be approved in the U.S., According to LMAX Digital. “As much as the…

BTC’s 20-month high: exploring Bitcoin’s potential rally

boss

Bitcoin starts 2024 by surpassing the $45,000 mark, setting a new 20-month high. What’s next? At the onset of 2024, Bitcoin (BTC) has made a leap, surpassing the $45,000 mark and setting a new 20-month high. As of this writing, BTC is trading at $45,465. In 2023, Bitcoin experienced an increase of 156%, indicating its strongest yearly performance since 2021. This surge was primarily driven by the anticipation of the approval of spot Bitcoin exchange-traded funds (ETFs) in the U.S. Secondly, the expectation of major central banks cutting interest rates…

Bitcoin’s strong recovery in 2023 outshines gold and S&P 500

boss

Bitcoin (BTC) experienced an exceptional year in 2023, achieving a significant 144% increase and outshining other major assets and indices. The latest surge added an impressive $530 billion to its market capitalization, showcasing a solid recovery from the 65% decline it experienced in 2022. The previous year’s downturn was influenced by tighter monetary policies and a series of industry challenges, including the bankruptcy of major companies like FTX. Bitcoin price has jumped $25,506 in 2023, reaching $42,208, according to CoinMarketCap data. The highest level of this digital currency was hit…

Bitcoin’s ranging price could trigger dip below $40k

boss

The decline in Bitcoin price coincided with a significant supply zone, where some 1.8 million addresses scooped crypto’s largest token by market cap. Crypto buyers acquired 730,000 Bitcoin (BTC) as the token fell into a demand channel within the price range of $41,200 and $42,400, according to IntoTheBlock data. One trader predicts that this latest movement from crypto’s leading coin could spur a descent to lower levels amid buy-the-dip calls from bulls on social media. The analyst, known by their X page name ali_charts, surmised that Bitcoin’s ranging price is…

Bitcoin’s 8-week win streak is in danger, but ATOM, FIL, EGLD, and ALGO don’t care

boss

Bitcoin’s (BTC) eight-week winning streak is likely to end as the price is down nearly 4% this week. The recent weakness indicates profit-booking by traders but it does not change the short-term uptrend. The pullback will also help reduce the froth that may have been building. After the initial shakeout, strong hands are likely to re-enter the crypto market as the macro environment remains bullish for risk-assets. The decision by the Federal Reserve to pause rate hikes and possibly reduce rates in 2024 could further boost demand for crypto products.…

How To Accept Crypto Payments And Who Accepts Bitcoins?

boss

Accepting crypto payments may sound daunting, but with the right tools and knowledge, it’s a game-changer for businesses. This article simplifies the process, from understanding the basics of crypto payments to seamlessly integrating them into your business operations. We’ll explore how to accept crypto payments, the most effective cryptocurrencies for transactions, highlight businesses leading the charge which accept Bitcoins as payments, and unveil the advantages of adopting this futuristic payment method. Crypto Payments For Businesses Explained For businesses, adopting crypto payments is not just a nod to modernity; it’s a…

Move Over Anchoring Bias, But Bitcoin’s Bull Run Still Has Plenty of Steam Left

boss

Traditional finance investors who want exposure to bitcoin could fall victim to the anchoring bias and intuitively wait for cheaper entry prices. That’s because, in conventional markets, assets rarely double in value in less than a year. Besides, investors, in general, are vulnerable to loss aversion, a cognitive behavior of booking out of winning trades early and holding on to loss-making bets for longer. Original

Bitcoin’s open interest declines as BTC falls below $42k

boss

Bitcoin (BTC) total open interest (OI) sees sharp decline as whales dump at $44,000.  According to data provided by the market intelligence platform Santiment, Bitcoin’s total OI declined by 10.4% in the past 24 hours — dropping from $8.1 billion to $7.2 billion. After surpassing $44,000 on Dec. 6 the price of one BTC has slipped by 0.6% in the past 24 hours and is currently at $41,950. BTC price and open interest – Dec. 12 | Source: Santiment The asset’s market cap currently stands at $822 billion with a…