Tag: Rally

Bitcoin Whales Driving The Rally Are Now Taking Profits, Data Suggests

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Data shows that the Bitcoin whales that may have been helping drive the latest rally have switched to profit-taking instead. Bitcoin Whales On BitMEX Have Changed Their Tune Recently An analyst in a CryptoQuant Quicktake post explained that the BitMEX whales were likely the ones helping fuel the latest rally. The relevant indicator here is the “Open Interest,” which keeps track of the total amount of Bitcoin derivative positions open on a centralized exchange. When this metric’s value increases, investors are opening up new contracts on the platform. On the…

BNB’s failure to capitalize the crypto rally reflects Binance’s troubles

Despite the significant rally across the crypto market, Binance’s BNB is down by nearly 5% in a month. BNB’s immediate competitor, Ethereum, is up by over 25% in a month. Also, recent statistics reveal that while the cryptocurrency market experienced an approximately 12% increase in value, amounting to an upswing of around $180 billion, BNB only recorded a modest 1.7% growth. This muted performance of BNB, which is closely linked to the fortunes of Binance, might reflect the market’s response to the exchange’s recent legal challenges in the United States.…

Cardano Could See 70% Rally To $0.75, Analyst Predicts When

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An analyst has explained how Cardano may be heading towards a rally to $0.75 soon if the historical pattern is anything to refer to. Cardano Could See A Rally Of Over 70% In The Near Future As explained by analyst Ali in a post on X, ADA currently appears to be mirroring the same pattern as that between 2018 and 2020. Below is the chart shared by the analyst, which points out this similarity. Looks like ADA might be heading towards a break | Source: @ali_charts on X From the…

Bitcoin’s massive rally wiped out $6b in short positions in 2023

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Short sellers in the cryptocurrency industry have faced losses exceeding $6 billion this year, primarily due to Bitcoin’s (BTC) remarkable rally since the start of January. A Dec. 5 report by S3 Partners reveals that traders who took short positions against publicly listed cryptocurrency companies like Coinbase, MicroStrategy, and Marathon Digital are currently facing on-paper losses amounting to $6.05 billion. Most of these losses have occurred in the past three months during a period marked by a dramatic turnaround in Bitcoin’s (BTC) value, the report goes on to state. After…

Bitcoin’s huge rally has nuked $6B in shorts this year: S3 Partners

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Crypto industry short sellers have lost at least $6 billion trying to bet against publicly-traded crypto firms this year, due largely to Bitcoin’s (BTC) outsized rally since Jan. 1. According to a Dec. 5 report from research firm S3 partners, traders who bet against publicly traded crypto firms such as Coinbase, MicroStrategy, and Marathon Digital are now nursing $6.05 billion in on-paper losses. The bulk of the losses for short sellers have been concentrated in the last three months. After Bitcoin fell to a quarterly low of $25,133 on Sept.…

Bitcoin Price Consolidates Rally and Primed To Surge Toward $45K

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Bitcoin price started a strong increase above the $42,000 zone. BTC is now consolidating gains and might rally further toward the $45,000 zone. Bitcoin gained pace above the $42,200 and $43,200 levels. The price is trading above $43,000 and the 100 hourly Simple moving average. There are two bullish trend lines forming with support near $43,900 and $42,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely setting up for a fresh increase above the $44,000 level. Bitcoin Price Remains Supported Bitcoin price…

Trading Guru John Bollinger Weighs In On BTC Ongoing Rally

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John Bollinger, known for his expertise in market analysis, has recently shared his insights on Bitcoin’s current market trajectory, noting that the premier cryptocurrency is exhibiting “signs of strength.” This observation comes when Bitcoin consistently sets new highs amid the ongoing bull run. The asset has experienced a surge, climbing above $44,000, representing a 4.5% increase over the past 24 hours. It now appears to be aiming for the next resistance level. Bitcoin Shows Signs Of Strength John Bollinger, the creator of the renowned Bollinger Bands, a popular technical analysis…

South Korean Crypto Traders Emerge as Major Force in BTC Rally

South Korea has long been recognized for its robust blockchain and crypto community. Crypto traders in South Korea have recently emerged as key players, wielding considerable influence during the latest Bitcoin (BTC) rally that has seen the digital currency surge by more than 50%, according to reports. The Rise of the South Korean Won Over the Dollar Recent data compiled by CCData shows that the South Korean won surpassed the US dollar to become the largest fiat trading pair in the crypto market. According to the data, the won accounted…

Crypto Analyst Anticipates 65,000% Rally Signal Today

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The XRP price has been rather stagnant in recent days. However, this could be about to change according to crypto analyst Jaydee. In a recent technical analysis, Jaydee has highlighted a potential golden cross on the 4-day chart which may be confirmed as soon as today. Crucial XRP Price Signal Today? The chart presented by Jaydee shows a potential golden cross, a bullish chart pattern that occurs when a shorter-term moving average crosses above a longer-term moving average. The last occurrence of a golden cross was followed by an impressive…

Bitcoin Bull Rally Is Far From Over According To These Large Whales

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Bitcoin has really heated up in the past few weeks, pushing its price above consecutive price resistances to reach new yearly highs. Bitcoin recently pushed past $44,000, registering gains of 15% in a 7-day timeframe.  However, while the price gain can be partly attributed to hype around the spot Bitcoin ETFs, on-chain data shows increased activity among many big holders. According to the on-chain analytics platform Santiment, the recent surge in the price of BTC has been connected with an increase in the number of wallets holding more than 100…