The difference, represented by funding rates (that is, the cost of holding long/short positions in perpetual futures, also called perp premium), has surged above an annualized 10% across major exchanges, including Binance, according to Velo Data. Positive funding rates mean buyers, or longs, pay shorts to keep their leveraged bullish bets open. Original
A ripple of excitement has recently coursed through the crypto market, particularly on Bitcoin. Bolstered by speculation regarding the impending approval of a spot Bitcoin exchange-traded fund (ETF) —a sentiment propelled by BlackRock’s iShares ETF’s appearance on the DTCC website—Bitcoin recorded an 18-month high trading above $35,000. This upward movement came on the heels of a notable 10% surge on Monday. ProShares Short Bitcoin Strategy ETF: A Declining Tale? Contrary to the general jubilance, not all BTC-related financial instruments are shared in the celebration. The ProShares Short BTC Strategy ETF,…
Bitcoin (BTC) experienced a remarkable surge last night, briefly hitting $35,200. This surge can be attributed to several compelling factors. Among these factors are the eagerly anticipated halving event and the growing confidence among investors regarding the approval of BTC Spot ETFs. This surge not only marks a significant price movement but also underscores Bitcoin’s current momentum relative to the broader digital asset market. The cryptocurrency market is no stranger to volatility, but Bitcoin’s recent ascent to $35,200 has captured the attention of investors and enthusiasts alike. Matteo Greco, a…
Glauber Contessoto, known widely as the “Dogecoin Millionaire” for his massive investment in the meme-inspired cryptocurrency earlier this year, tweeted a word of caution about Bitcoin’s (BTC) recent price surge. On Oct. 23, Contessoto urged investors to stay cautious. He claimed that “technically speaking we shouldn’t be anywhere near an actual bull run right now.” The #Bitcoin historically predates all bull runs in the past and the next one isn’t until April 2024. This could merely be a bull trap. Invest accordingly. Glauber Contessoto Contessoto took a major risk when…
The prices of top cryptocurrencies like Bitcoin have been fluctuating wildly in recent months. However, Eric Wall believes BTC is currently undervalued. As pointed out by developer Eric Wall, the Bitcoin Rainbow indicator suggests the cryptocurrency is now in the “buy zone” and severely oversold. He commented, “We’re so back.” Bitcoin is currently in the buy zone | Source: Look Into Bitcoin The Rainbow Chart uses colored bands overlayed on a logarithmic growth curve to visualize Bitcoin’s long-term valuation cycles. When the Bitcoin price enters the zone near the bottom…
Bitcoin (BTC) has established strong support between $25,000 and $30,000. Take a look at the next key resistance. The price of Bitcoin has been steadily rising since October 13, following its inability to break the support level of around $26,000. Since then, it has continued to climb, reaching $35,000 earlier today, a level not seen since May 2022. The move from the support level to $35,000 represents a price increase of over 30% in just two weeks. The BTC rise has boosted the hopes of many investors, with some believing…
At the Plan B Forum in Switzerland, Rikki and David from the Bitcoin Explorers Project shared their observations on cryptocurrency adoption in Turkey and Lebanon, countries currently grappling with severe inflation. Crypto in Turkey Rikki described the rampant inflation plaguing Turkey, with prices rising 60% annually, according to official statistics, and possibly more unofficially. He recounted seeing locals lining up to exchange Turkish lira for US dollars and gold to preserve their purchasing power. Rikki also showed images of Bitcoin ATMs and shops accepting cryptocurrency in Istanbul, evidence of growing…
At the PlanB conference in Lugano on Oct. 20, a panel of experts discussed how Bitcoin and blockchain technology could disrupt traditional capital markets. The panel, titled “Exploring the Future of Capital Markets: Your Second Layer,” featured leaders from several Bitcoin and blockchain startups including Blockstream, Sideswap, Setup Labs and Stalker. Panelists outlined how Bitcoin’s decentralized, transparent and programmable nature enables direct peer-to-peer trading of assets including stocks, bonds, derivatives and more. This removes the need for intermediaries like stock exchanges and clearing houses, reducing costs and risks. According to…
Bitcoin (BTC) is becoming scarcer than ever — if you are a BTC price speculator or new to the market. The latest data from on-chain analytics firm Glassnode shows a record portion of the available BTC supply is locked up in long-term storage. Bitcoin long-term holder presence beats all-time highs At more than 76%, Bitcoin’s long-term holders (LTHs) control more of the BTC supply than at any point in history. Despite the supply increasing with every block, in percentage terms, the low-time preference Bitcoin investor cohort has a record market…
Bitcoin (BTC) has retraced to the $28,400 level following a failed breakout above $30,000, resulting in a high rate of liquidations for both long and short positions. Additionally, the recent fake news surrounding the approval of Blackrock’s spot Bitcoin Exchange-Traded Fund (ETF) by the US Securities and Exchange Commission has disrupted the upward trend and introduced new bearish indicators in the Bitcoin market. RSI Screams Sell Renowned trader and crypto analyst Ali Martinez suggests selling BTC based on its 4-hour chart Relative Strength Index (RSI) indicator. His simple trading strategy…