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Ether, in the past, has decoupled from bitcoin for brief periods. The latest weakening of correlation may be long-lasting, meaning bitcoin, the world's largest and most liquid digital asset, may no longer anchor ether and the broader market, according to Pulkit Goyal, Vice President of trading at OrBit Markets, an
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The US Commerce Department’s recent shows that economic growth and GDP have slowed even as Bitcoin struggles to regain $30,000. The price of Bitcoin (BTC) has remained relatively stagnant for about a week as the US gross domestic product (GDP) is slowing. Currently trading at $28,870 according to CoinMarketCap data, BTC
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"The market eyes growth at 2% – shouldn't move markets too intently given the backward nature of the data point – would need to be a big beat/miss to the move rates expectations and the USD, gold, Nasdaq," Chris Weston, head of research at foreign-exchange brokerage Pepperstone, said in a
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From a fundamental perspective the weaker correlation supports diversification arguments in favor of holding both BTC and ETH, the report said. Source
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Bitcoin continues to move in lockstep with the Nasdaq to S&P 500 ratio. The positive correlation suggests bitcoin is still a risk asset. Source
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Options are derivative contracts that give the purchaser the right, but not the obligation, to buy or sell the underlying asset at a predetermined price on or before a specific date. A call option gives the right to buy, a signal the holder has a bullish stance, while a put
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Bitcoin (BTC) wicked to five-day lows on Feb. 22 as a comedown for United States equities continued.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewAnalyst on Bitcoin: "Waiting for a bit lower"Data from Cointelegraph Markets Pro and TradingView recorded lows of $23,871 on Bitstamp, with S&P 500 futures slipping under 4,000 ahead of
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"Wages have decelerated in all meaningful forward-looking gauges, while housing is printing at extremes relative to reality in the CPI, meaning that we see a larger downside risk/reward in core relative to headline," Larsen noted, while forecasting positive contributions from energy component, prices for goods, including used cars, and fatigue
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As a trader, it’s important to understand the various factors that can influence the price of an asset. For those interested in Bitcoin, it’s worth considering the potential relationship between the cryptocurrency and the DXY, a popular index that measures the value of the US dollar against a basket of
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Bitcoin (BTC) could get sucked toward $50,000 like a magnet if it continues to follow gold, fresh analysis predicts.In a Twitter update on Jan. 26, popular trader and market commentator TechDev presented a lofty new BTC price target tied to XAU/USD.Gold, Bitcoin inverse dollar correlation “without question”As the debate over
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