Tag: Rally

BTC Wraps up 13 Consecutive Years of Recorded Market Value, With No Santa Rally in 2022 – Featured Bitcoin News

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By the end of this year bitcoin will have 13 consecutive years of recorded market value under its belt. Seven of those years saw Santa rallies all the way up until New Year’s Eve, and five of the 13 years saw bearish returns from Dec. 1 to Dec. 31. There’s still six more days left until the end of 2022, but current market action seems to point toward negative returns this month. 13 Years of Bitcoin Prices in December 2022 wasn’t the greatest year for bitcoin (BTC) in terms of…

BTC price foregoes Santa rally as Bitcoin volatility hits record low

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Bitcoin (BTC) failed to deliver a Santa rally for Christmas 2023 as Dec. 25 offered even more sideways BTC price action. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin volatility index plumbs lowest ever levels Data from Cointelegraph Markets Pro and TradingView showed BTC/USD clinging to a tight trading range around $16,800. The pair had stubbornly refused to offer any form of volatility through much of the week, with an absence of a macro trigger reinforcing lackluster performance. “Bitcoin’s volatility is at an all-time low,” William Clemente, founder of crypto…

The Santa Rally Effect: True or Myth?

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The Santa Rally, also known as the “December Effect,” is a phenomenon that refers to a trend of stock and cryptocurrency markets seeing an increase in prices during the last days of December. This trend is believed to be caused by a combination of factors, including increased holiday spending, end-of-year tax planning, and optimism about the future. However, it is important to consider the current macro economic and market conditions when making investment decisions. Inflation remains a concern, with rates remaining high despite efforts by the Federal Reserve (FED) to…

Bitcoin Price Poised To Rally Big-Time On PCE Release Today

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The Bitcoin price could see a significant uptick today Friday, December 23 at 8:30 am (EST) if the Core Personal Consumption Expenditures Price Index (PCE) comes in better than expected. And the chances are high! Bitcoin price has been heavily dependent on macro data and the decisions of the U.S. Federal Reserve (FED) lately. The last FOMC meeting of the year on December 13 provided a bearish surprise, even though the consumer price index (CPI) came in better than expected. However, there was a catch. After the FOMC meeting, rumors…

What Could Trigger A Fresh Rally?

Ethereum is facing resistance above $1,250 against the US Dollar. ETH could gain bullish momentum if it clears the $1,230 and $1,250 resistance levels. Ethereum attempted a recovery wave and climbed above the $1,200 level. The price is now trading above $1,200 and the 100 hourly simple moving average. There is a key contracting triangle forming with resistance near $1,220 on the hourly chart of ETH/USD (data feed via Kraken). The pair could a steady increase if there is a clear move above $1,230 and $1,250. Ethereum Price Eyes Upsides…

Bitcoin Recovers to $21,000, but Traders Wary of Further Rally 

Bitcoin (BTC) showed early signs of recovery as it extended its second day of gains on Tuesday, holding over the $21,000 barrier in European hours. Even though established banking firms Morgan Stanley (MS) and Goldman Sachs (GS) said in client notes that recession risks were “not fully priced in,” the spike still occurred. Morgan Stanley said in its note that “The bear market will not be over until recession arrives or the risk of one is extinguished,.” In a similar vein, Goldman analysts said stock traders were pricing in a…

Stablecoins Flow Into Spot Exchanges, Fuel For Christmas Bitcoin Rally?

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On-chain data shows the number of stablecoin transactions going into spot exchanges have risen recently, something that could help fuel a Christmas Bitcoin rally. Stablecoin Deposits To Spot Exchanges Have Shown Increasing Demand Recently As pointed out by an analyst in a CryptoQuant post, there has been an increasing demand on spot exchanges recently. The relevant indicator here is the “stablecoin exchange depositing transactions,” which measures the total number of transfers involving these fiat-tied tokens that are heading towards exchanges. Investors usually use stablecoins whenever they want to escape the…

End Of Litecoin Rally? LTC Plunges 7% In Last 24 Hours

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Litecoin has observed a plunge of more than 7% in the last 24 hours, suggesting that the coin’s bullish momentum may have come to an end. Litecoin Drops Hard TodayS But Is Up 20% In The Last Month While the rest of the crypto market was struggling, LTC enjoyed some sharp bullish momentum in the third leg of November, leading some to believe the “pre-halving rally” had begun for the crypto. But the first half of December proved disappointing as the coin mostly consolidated, and now in the last two…

Bitcoin Santa Claus rally unlikely, according to on-chain and derivatives data

As the coldest days of the crypto winter set in, investors’ speculative interest in the crypto market has fallen to pre-2021 levels, impairing the chance of a substantial directional price move. However, there’s a possibility of a bear market rally akin to the July through August 2022 uptrend. The market enters a state of limbo The FTX implosion impacted over 5 million users globally and adversely affected numerous crypto companies that were exposed to it. The industry is currently in a recovery mode and Cumberland, a U.S.-based crypto market broker,…

Why This Bitcoin Bearish Divergence Could Spell Doom For BTC Rally

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A quant has explained how this bearish divergence in Bitcoin on-chain data can lead to a short-term correction in the price. Bitcoin Short-Term Holder SOPR Has Been Slowing Down Despite Price Going Up As explained by an analyst in a CryptoQuant post, a gap has been forming in the purchasing power of short-term holders and the BTC price. The relevant indicator here is the “Spent Output Profit Ratio” (SOPR), which tells us whether investors in the Bitcoin market are selling their coins at a profit or at a loss right…