Tag: High

Bitcoin price drops below $27k despite high social volume

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Bitcoin (BTC) has been tumbling over the past three days as the war in the Gaza Strip took off. While the asset’s price fell below the $27,000 mark, Santiment data shows high social volume. Bitcoin’s price fell by 0.7% in the past 24 hours and is trading at around $26,900 at the time of writing. The flagship cryptocurrency witnessed a 2.7% decline over the past week. However, BTC’s 24-hour trading volume has surged by 7.6%, reaching $12.4 billion with a total market capitalization of roughly $525 billion. BTC price, whale…

Bitcoin Supply Metric Touches New All-Time High, Time For Reversal?

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Bitcoin has been named the best performer among asset classes in 2023, but the cryptocurrency is still struggling to break new levels in its price. Despite the current bearish sentiment, many analysts have hinted and predicted a bull run in the coming months, especially as the market awaits the approval of a spot Bitcoin ETF.  This has probably prompted many investors to hold on to their coins, as on-chain metrics have shown that the amount of Bitcoin supply idling recently reached a new all-time high.  Unmoved Bitcoin Supply Reaches Record…

Bitcoin dominance hits 3-month high as ‘hammered’ altcoins risk dive

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Bitcoin (BTC) ground higher on Oct. 10 after the start of legacy market trading saw “de-risking” take over. BTC/USD 1-hour chart. Source: TradingView Bitcoin price preserves weekly support Data from Cointelegraph Markets Pro and TradingView showed BTC price stability returning ahead of the Wall Street open. Bitcoin bulls had lost their footing as the week began, with BTC/USD heading to $27,300 before reversing to trade near $27,700 at the time of writing. “Overall there’s been a lot of market de-risking into $27.4K – $27.3K,” popular trader Skew wrote in part…

Binance’s CZ expects Bitcoin to hit new all-time high in 2025

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As Bitcoin halving approaches, the Binance boss doubts that BTC will reach a new maximum by the end of 2024. The crypto community should brace for a long recovery as Binance CEO thinks Bitcoin (BTC) won’t hit a new all-time high (ATH) sooner than 2025. In a blog post on Binance Feed, the exchange’s head, Changpeng Zhao (CZ), said the market will face “anxiety, expectations, hype, hope” as the halving approaches. Based on his experience, CZ says the bitcoin price won’t double overnight the day after the halving. However, once…

Crypto Investor Buying Power Just Reached A 6-Month High, What This Means

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For the crypto market to fully enter another epic bull run, investors must be willing to purchase digital assets in large quantities. After a long stretch of abysmal performance, it looks like crypto investors are finally starting to believe in the market as they begin to pool their buying power to enter back into the market. Crypto Buying Power At 6-Month Highs An interesting development reported by the on-chain data tracker Santiment is the accumulation of Tether’s USDT stablecoin by crypto investors. As Santiment points out, the total amount of…

ADA Targets Range High Post Support Flip

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Cardano (ADA) saw its market structure undergo a significant bullish transformation following a series of recent gains. This rally, which began in late September, has propelled ADA’s price up by more than 10% in just one week, measured from its lowest point to the recent peak. Although ADA experienced a retracement in the past few hours, it has managed to retain its overall bullish outlook. The initial signs weren’t entirely encouraging, as evidence from volume indicators hinted at dwindling buying pressure. Nevertheless, the bulls rallied with determination, successfully defending the…

30-Year Mortgage Rates Spikes to Two-Decades High as Fed Fights to Lower Inflation

The affordability of funding new houses is expected to strain the already heavily taxed small businesses and individuals. At current 30-year mortgage rates of about 7.72 percent, it would cost a borrower about $1,429 every month to service a $200,000 housing plan, thus putting the total interest on the mortgage at about $314,325. The rising 30-year mortgage rate continues to put more strain on borrowers as the high inflation bites further into investors’ pockets. According to market aggregate data, the 30-year mortgage rate has risen from around 3 percent in…

Cardano To Shed Its Gains? Profit-Taking Spikes To High Levels

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On-chain data shows the profit-taking among Cardano investors has spiked to high levels, a sign that the asset may register a decline in the coming days. Cardano Has Observed High Profit-Taking After The Rally According to data from the on-chain analytics firm Santiment, AAVE, ADA, and CRV are among the altcoins that have recently observed the most extreme profit-taking. The relevant indicator here is the “ratio of daily on-chain transaction volume in profit to loss,” which, as its name suggests, tells us about how the profit-taking volume of any cryptocurrency…

Could A New All-Time High Be On The Horizon? Analyst Predicts

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Crypto Rover, a seasoned cryptocurrency trader and analyst, has recently shared insights suggesting that Bitcoin’s current trajectory may change. Based on the latest technical analysis, Bitcoin might soon paint a brighter, bullish picture. Bitcoin Break From The Bearish Shackles In his recent analysis, Crypto Rover explained Bitcoin’s price action shift. It’s been noted that the leading crypto is making headway in breaking a longstanding negative trend that has persisted for 77 days. This shift marks a monumental moment for Bitcoin, which had been entrapped in bearish confines for a considerable duration.…