Tag: Key

3 key Ethereum derivatives metrics suggest $1,600 ETH support lacks strength

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Ether (ETH) price is up 60% since May 3, outperforming leading cryptocurrency Bitcoin (BTC) by 32% over that span. However, evidence suggests the current $1,600 support lacks strength as network use and smart contract deposit metrics weakened. Moreover, ETH derivatives show increasing sell pressure from margin traders. The positive price move was primarily driven by growing certainty of the “Ethereum merge” transition to a proof-of-stake (PoS) consensus network in September. During the Ethereum core developers conference call on July 14, developer Tim Beiko proposed Sept. 19 as the tentative target…

Ether creates history as key metric in ETH options exceeds Bitcoin by 32%

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Ether (ETH) has taken over Bitcoin (BTC) in the options market for the first time in history as the open interest (OI) of Deribit Ether options, with a value of $5.6 billion, exceeded the OI of Bitcoin options worth $4.6 billion by 32%. OI is calculated by adding all the contracts from opened trades and subtracting the contracts when a trade is closed. It is used as an indicator to determine market sentiment and the strength behind price trends. Deribit is the world’s biggest BTC and ETH options exchange, accounting…

Market correction vs. bear market: Key differences explained

Market corrections and bear markets both involve price declines, but knowing how to differentiate between the two is crucial in protecting your investment portfolio. Market correction vs. bear market To summarize, here are some of the key differences between the two: While corrections and bear markets can be daunting, remember they’re normal occurrences within a healthy economy. Learning to differentiate between the two will allow you to navigate them better. In terms of recovery time, markets tend to recover from corrections faster—typically within a couple of months. Bear markets, however,…

Pocket DAO Passes Two Key Proposals on Node Incentives – Press release Bitcoin News

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press release PRESS RELEASE. Pocket Network, a decentralized Web3 infrastructure provider that services blockchain data requests for applications and developers, is implementing key protocol changes after its community DAO voters rallied to boost network efficiency and bring costs down. As of late June, the Pocket DAO has passed two proposals with significant impacts on the incentive structure for nodes participating in Pocket Network’s protocol. Pocket’s protocol is serving approximately 1 billion RPC requests every day, and is on course towards a goal of supporting 100 blockchains before year-end. At the…

Monero Climbs To 5-Week Peak, Nears Key Resistance At $155

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Monero (XMR) spiked to its peak levels in three months, in the face of challenges in the crypto market. XMR has been gaining momentum since June 13 as it has been enjoying highest highs over the past few months. The token has been on an uptrend for the fourth day in a row and today it’s at fever-pitch with an intraday high beaming at $153.09 3hich is considerably the highest gain it has had since June 13. With this big move, XMR/USD has set its targets on a new resistance…

Bitcoin Price Could Rally Again If It Stays Above This Key Support

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Bitcoin started a downside correction from the $24,000 resistance against the US Dollar. BTC is finding bids near $22,500 and might start a fresh increase. Bitcoin started a downside correction and traded below the $23,000 level. The price is now trading above the $22,000 level and testing the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $22,750 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might continue to rise if it stays above $22,500…

Bitcoin bulls miss key resistance flip as BTC price sheds 8%

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Bitcoin (BTC) extended losses on the July 21 Wall Street open after a key resistance level failed to hold as new support. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Dollar rises to squeeze risk assets Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dropping to $22,340 on Bitstamp after the opening bell, down 8% from its local top.  The pair’s progress had seen a challenge from Tesla, which revealed that it had sold 75% of its BTC position at a loss. Macro events then added to Bitcoin’s woes in the…

XRP Must Breach This Key Level To Avert The Downturn

Despite the recent sluggishness of XRP, the token is performing significantly better compared to other coins. The bulls successfully defended the $0.3 support and tried to reverse the trend by breaching above the crucial resistance. As the price has not fallen following a false breakout, this indicates that the bulls may be stronger than the bears. Thus, the volume has increased, which is a positive indicator. As of this writing, XRP is trading at $0.364, up 12% in the last seven days, data by Coingecko show, Monday. Suggested Reading | CEL Token Seen…

Bitcoin ready to attack key trendline, says data as BTC price holds $20K

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Bitcoin (BTC) consolidated higher on July 16 after the Wall Street trading week finished with modest gains for United States equities. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Can Bitcoin bulls reclaim the 200-week moving average? Data from Cointelegraph Markets Pro and TradingView showed BTC/USD ranging between $20,500 and $21,000 into the weekend. The pair thus preserved the majority of its comeback from the week’s lows, these following shock U.S. inflation data and sparking weakness across risk assets. Now, out-of-hours trading meant that the classic scenario of breakouts and fakeouts on…

Key Data Indicates Positive Trend For BTC Long-Term Holders

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Bitcoin is among the assets that have shown high volatility in the current crypto bear market. Recently, the price of BTC has been hovering around the $20K level. However, the uncertainty with the leading cryptocurrency, most of its long-term holders have not shown any deviation from the token. Hence, they don’t seem to have taken a position. Data from Crypto Quant, an on-chain analytics firm, noted some sales from BTC holders irrespective of its low price. However, the sentiment for the present BTC sell-offs lies in the expectation of more…