Key metrics show this week’s $4B Bitcoin options expiry favors bulls

Over the past two weeks, Bitcoin price appears to have lost momentum and some analysts are suggesting that bears will be in control for the foreseeable future. Taking a look at derivatives market data provides a clearer picture of what is happening on the institutional side and how the moves of larger players may impact the spot markets. After peaking at $10.6 billion on Jan. 14, the open interest on Bitcoin (BTC) scaled back to $8.4 billion. The Jan. 29 monthly expiry continues to stand apart, totaling 47% of the…

Here’s the Key Demand Zone Ethereum Might Test Before Surging Higher

Ethereum has seen some notable strength today despite Bitcoin’s lackluster price action This has allowed it to gain some serious ground on its BTC trading pair, and the crypto is on the cusp of seeing a massive breakout Where it trends in the mid-term will undoubtedly depend at least partially on whether or not bulls can take firm control of its price action Analysts have noted that where it trends in the mid-term will likely depend on its reaction to a few key levels The current demand zone for the…

3 key reasons why Polkastarter (POLS) price rallied 500% since December

Polkastarter (POLS) is a cross-chain token pool and auction protocol built on the Polkadot (DOT) blockchain. It launched in October of 2020 as a way for projects to raise capital in a decentralized environment and since January the token has rallied 500% to a new high at $1.78. Three possible reasons for the recent growth of POLS are the strong rally seen from Polkadot, strategic partnerships and exchange listings and an expanding list of token launches via auctions. POLS/USDT 4-hour chart. Source: TradingView The rise of Polkadot The rising popularity…

Bitcoin Remains At Risk, Why $38K Holds The Key For Fresh Surge

Bitcoin price is struggling to gain momentum above $37,500 and $37,800 against the US Dollar. BTC could decline again if it breaks the $36,000 support zone. Bitcoin is facing a strong resistance near the $37,800 and $38,000 resistance levels. The price is now trading just above the $36,500 support and the 100 hourly simple moving average. There is a key contracting triangle forming with support near $36,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the $38,000 resistance to start a fresh…

Grayscale holds the key to Bitcoin hitting $40K, says JPMorgan

Grayscale Investments, the world’s largest digital-asset manager, could hold the key to Bitcoin’s (BTC) short-term price outlook, according to JPMorgan Chase.  As Bloomberg reports, strategists led by Nikolas Panigirtzoglou believe Bitcoin could lose its luster over the short-term unless it can “break out” above $40,000. The flagship cryptocurrency breached that key level on two occasions this month, once in the lead-up to new all-time highs near $42,000 and the other just last week. The strategists determined that the Grayscale Bitcoin Trust, which currently has $23 billion in assets under management,…

Ethereum is About to Flip a Key Resistance Level into Support; New Highs Imminent?

Ethereum has seen some mixed price action as of late, with the cryptocurrency mainly taking its cues from Bitcoin This has caused it to struggle to gain any serious momentum, with its price being stuck within the mid-$1,200 region throughout the past few days The selling pressure at $1,300 has catalyzed a strong rejection in the past, confirming this level as resistance Where it trends next will undoubtedly depend largely on ETH and whether or not the entire market can gain any momentum in the near-term One analyst is noting…

Timing is key as Bakkt secures NYSE listing

Digital assets marketplace Bakkt is set to go public on the New York Stock Exchange in 2021, which could pave the way for more cryptocurrency service providers to follow suit. The Intercontinental Exchange announced on Jan. 11 that its cryptocurrency marketplace Bakkt would soon be listed on the NYSE public stock market. This will be done through a merger with a special purpose acquisition company VPC Impact Acquisition Holdings. The shell company will be used to merge with Bakkt in order for it to be listed on the stock market…

Bitcoin Just Reached this “Key Zone” — Here’s What Analysts Say Comes Next

Bitcoin’s price has been on a roller coaster of a ride throughout the past couple of weeks After rejecting above $40,000, the cryptocurrency faced massive inflows of selling pressure that sent it reeling down to lows of $30,000 The support here proved to be significant and helped the cryptocurrency see further momentum One trader is now expecting Bitcoin to see significantly further short-term upside, noting that its fate depends almost entirely on its reaction to one key level If it can break above this level, it could spark a second…

Polkadot (DOT) Surges 35%, Key Resistance Turned Support at $10.5

Polkadot’s DOT started a strong surge after it broke the $10.00 resistance against the US Dollar. It is up over 35% this week, and it outperformed bitcoin. DOT gained pace above the $9.50 and $10.00 resistance levels against the US dollar. The price traded to a new yearly high at $11.60 and settled well above the 100 simple moving average (4-hours). There was a break above a key bearish trend line with resistance near $9.35 on the 4-hours chart of the DOT/USD pair (data source from Kraken). The pair could…

Exodus of key staff from Aragon amid philosophical differences

It’s been a rough week for the Aragon governance platform where philosophical differences have brought about a long list of resignations. Aragon co-founder Jorge Izquierdo announced on Jan. 11 he would no longer be working as CEO of the for-profit Aragon One, a company dedicated to building tools and services related to Aragon. Aragon is an Ethereum-based platform involved with decentralized governance. The announcement took place just hours after news broke that Aragon had purchased Dvote Labs, the company behind blockchain voting protocol Vocdoni. Today I resigned as Aragon One’s…