Bitcoin RSI Moves Into Bull Market Territory, Here’s What Happens Next

Bitcoin price nearly set a new higher high and confirmed a bull trend. But before the leading cryptocurrency by market cap could set a new peak, a popular trading indicator might have jumped the gun and confirmed the bull market. The rare reading on the Relative Strength Index has only happened a grand total of 14 times in more than a decade, and on average each impulse has resulted in over 239% upside. This signal has only just appeared, potentially, suggesting that the latest impulse could reach as high as…

Market Wrap: Bitcoin Jumps to $13.7K, Nearing 2019’s High; Ether Volatility Reverses Course

Bitcoin made gains Tuesday toward its 2019 high while ether’s volatility rose after an October in decline. Bitcoin’s price was on a steady run upward Tuesday, hitting as high as $13,756.33 before settling down to $13,668, according to CoinDesk 20 data. It is now within reach of its 2019 high of $13,879.24; any point above that puts bitcoin prices where they were during the late 2017-early 2018 bull run and subsequent collapse. Increased spot bitcoin volume, at $840 million, helped lead the price higher Tuesday. That figure has averaged $432…

Market Wrap: Bitcoin Falls to $12.7K as Global Equities Falter; Ethereum Fees Continue to Drop

Bitcoin’s price fell Monday on larger macroeconomic concerns while lower Ethereum fees benefit hardcore DeFi users. Bitcoin (BTC) trading around $13,011 as of 20:00 UTC (4 p.m. ET). Slipping 0.33% over the previous 24 hours. Bitcoin’s 24-hour range: $12,773-$13,250 BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians. Bitcoin trading on Bitstamp since Oct. 24.Source: TradingView Bitcoin’s price was riding high Monday, going up to $13,250 on spot exchanges like Bitstamp before dropping as low as $12,773 around 17:00 UTC (1 p.m. ET).  John Willock,…

Data Says Bitcoin Market Sentiment Is Rapidly Changing

Bitcoin price this week surged over $1,000 in a single day on the heels of positive PayPal support news. Just three weeks ago, however, negative sentiment was recently at all-time lows, and shorts were climbing. But in a flash, sentiment has rapidly turned and already reached euphoria. What does this sharp and sudden sentiment shift say about the crypto market, and where it is headed next? Crypto Market Social Sentiment Rapidly Reverses From All-Time Lows The best crypto analysts utilize several key tools they have at their disposal, including technical…

Market is proving Bitcoin is ‘ultimate safe haven’ — Anthony Pompliano

Bitcoin (BTC) “could not be more uncorrelated” with the stock market, Anthony Pompliano says as data shows that BTC is leaving macro assets behind. In a series of tweets on Oct. 26, the Morgan Creek Digital co-founder, also known as “Pomp,” took critics to task over their accusations that Bitcoin was a poor store of value. Pomp on safe haven Bitcoin: “The market is proving it” Pompliano uploaded a chart from behavior analysis platform Santiment, which showed Bitcoin hitting 0 for 30-day correlation with the S&P 500. “It could not…

The CME Bitcoin (BTC) Futures Market is Now the Second Largest

Summary: Institutional demand for Bitcoin is rising as CME BTC Futures are now ranked second The open interest of the CME Bitcoin futures eclipses that of Binance, Bitmex and even Bybit This is a sign of continual institutional interest in Bitcoin  Outside of futures platforms, 785,999 BTC is currently held by publicly traded companies The demand for Bitcoin (BTC) has continued to spread outside regular retail traders. According to data from Arcane Research, the CME Bitcoin futures market is now the second-largest with an open interest of nearly $800 Million.…

Market Wrap: Bitcoin Pulls Back From $13K While Ether Falls on DeFi Cooling

Bitcoin has pulled back from 2020’s highs while ether slips as DeFi cools off. Bitcoin (BTC) trading around $12,919.97 as of 20:00 UTC (4 p.m. ET). Slipping 1.36% over the previous 24 hours. Bitcoin’s 24-hour range: $12,731.06-$13,192.25. Bitcoin’s price had a minor pullback Friday after hitting fresh new 2020 highs that put it above $13,000 in the past week. However, analysts and traders said they were not surprised at all by the recent moves.  Read More: Active Bitcoin Addresses at Highest Since 2017’s $20K Price Record An immediate sell-off by…

CME becomes 2nd biggest Bitcoin futures market

The CME Bitcoin futures market overtook Binance Futures to become the second-biggest Bitcoin (BTC) futures exchange by open interest. The data shows that the institutional volume is rapidly gaining a larger share of the cryptocurrency market. On Oct. 10, Skew reported that the CME Bitcoin futures market’s open interest rose sharply by 1,500 contracts. Since then, within three days, the price of BTC surged 9% to over $13,000. The growing open interest of CME’s futures contracts on BTC is likely to have a positive effect on BTC price, particularly as a…

AAVE Jumps 25% on DeFi Market Comeback; Analysts Predict Bull Run

AAVE was trading higher on Friday, continuing a rebound that followed a massive 45 percent price crash between October 15 and 21. The decentralized finance token rose by up to 9.87 percent to establish an intraday high above $40. Its latest upside move brought its total retracement up by circa 25 percent, leading analysts to predict an extended bullish momentum. A pseudonymous daytrader said that he expects AAVE/USD to hit $42 in the near-term. Another one went more bullish with his market outlook, stating that the pair deserves to rise…

Barclays Q3 Numbers Surprises Market, BARC Shares Jump

During Q3 2020, Barclays managed to significantly reduce provisions for the loan losses thereby putting less budget for bad loan provisioning. Its corporate and investment banking (CIB) division shows strong performance during the tough times. Earlier today, October 23, British banking giant Barclays plc (LSE: BARC) surprised the markets with stunning Q3 results. The bank reported a net profit of £611 million ($797.7 million) more than double the market expectations of £273.5 million. The British lender has clearly laid its recovery plans from the Coronavirus pandemic. This strong performance comes…