Tag: Data

Bitcoin traders anticipate new yearly lows after BTC’s $25K rejection — Data disagrees

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Bitcoin (BTC) showed weakness on Aug. 15, posting a 5% loss after testing the $25,000 resistance. The move liquidated over $150 million worth of leverage long positions and has led some traders to predict a move back toward the yearly low in the $18,000 range. The price action coincided with worsening conditions for tech stocks, including Chinese giant Tencent, which is expected to post its first-ever quarterly revenue decline. According to analysts, the Chinese gaming and social media conglomerate is expected to post quarterly earnings around $19.5 billion, which is…

Bitcoin price hits multi-day low as data warns of ‘overbought’ stocks

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Bitcoin (BTC) sank to intraday support on Aug. 16 as concerns emerged over the fate of United States stock markets. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView U.S. stocks face stiff resistance Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $23,685 on Bitstamp, nearing lows from Aug. 12. After an eerily calm 24 hours, downside set in at the day’s Wall Street open as previous highs in excess of $25,000 looked increasingly like a double top. #BTC is dipping right now as part of a potential technical retest of…

Good news for Bitcoin: New CPI data suggests inflation has peaked

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In this weeks episode of Market Talks we welcome senior market analyst at Cubic Analytics, Caleb Franzen. Caleb is a Senior Market Strategist at Cubic Analytics, analysing new data/charts on the economy, the stock market, and Bitcoin to make better investment decisions. He is also a former corporate banking & portfolio analyst. The main topic of discussion with Caleb will be the new CPI data and what they mean for the crypto market, specifically Bitcoin (BTC). Is there a correlation between the data and the recent price pump? How sustainable…

Is The Bitcoin Surge Due To An External Reason? What The Data Suggests

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The world’s first and largest cryptocurrency is making gallant steps towards the greens in a recent outturn of events. Bitcoin is experiencing a sharp rise in price within its market. Recent trading activities got BTC’s price to hit the $24,000 mark. This creates a positive record for the top cryptocurrency across the industry. Though Bitcoin is making a tremendous improvement in value, its number of active addresses seems to be downtrend. The sudden growth in price for BTC likely has little connection with the overview of the crypto market. This…

Could Today’s CPI Data be Bullish? – Blockchain News, Opinion, TV and Jobs

By Marcus Sotiriou, Analyst at the publicly listed digital asset broker GlobalBlock  After Bitcoin slumped just under 5% on Tuesday, it hovers above $23,000 at time of writing, after Coinbase’s Q2 earnings were released. They reported a 63% decline in revenue in the second quarter, hence leading to a $1.1 billion loss from a year ago, despite its monthly customer rising from 8.8 million to 9 million. This demonstrates further how impactful the macroeconomy has been have been for many crypto exchanges during the past few months. Coinbase also predicted that over the…

$29K Bitcoin is closer than you might expect, according to derivatives data

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Bitcoin (BTC) price continues to battle at the $24,000 resistance and the price was rejected there on Aug. 10, but the rejection was not enough to knock the price out of the 52-day-long ascending channel. The channel has a $22,500 support and this bullish formation suggests that the BTC price will eventually hit the $29,000 level by early October. Bitcoin/USD 12-hour price. Source: TradingView Bitcoin derivatives data does show a lack of interest from leveraged longs (bulls), but at the same time, it does not price higher odds of a…

Bitcoin braces for US inflation data as CPI nerves halt BTC price gains

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Bitcoin (BTC) hit multi-day lows into Aug. 10 as crypto traders braced for impact with fresh United States inflation data.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader: Market “could get ugly” if CPI keeps rising Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to $22,668 on Bitstamp at the most recent daily close — its lowest since Aug. 5. Bullish momentum had evaporated during the day prior, and the mood among traders was firmly risk-off as markets awaited the latest Consumer Price Index (CPI) readout. Covering July,…

Europe’s Securities Regulator ESMA Seeks to Obtain Crypto Transaction Data – Regulation Bitcoin News

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The European Securities and Markets Authority (ESMA) is gearing up to implement stricter oversight in regards to crypto-related transactions. The agency is now looking to hire suppliers of trading data, as monitoring major participants in the market falls under its responsibilities. ESMA Launches Public Procurement for Providers of Crypto Trading Data The securities watchdog of the European Union, ESMA, is preparing to increase scrutiny on transactions involving cryptocurrencies, a public tender has indicated. On Tuesday, the authority launched a procurement procedure for suppliers of trading data on crypto transactions including…

Bitcoin miners now hold 1.856M BTC in 2-year high — new data

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Bitcoin (BTC) miners now own more BTC than at any time since 2020 as the impact of the past months’ turbulence wears off. According to data from on-chain analytics firm CryptoQuant, miners’ BTC holdings increased dramatically in July. Miners keep stacking sats In the latest sign of miners recovering from recent price weakness, the amount of BTC in their wallets has hit a fresh multi-year high. As originally noted by CryptoQuant contributor and analyst Jan Wuestenfeld, their combined balance totaled 1,865,272 BTC as of July 29. The start of August…