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Bitcoin (BTC) continued to range below $50,000 on Aug. 31, the final day of the month, as analysts demanded higher levels in order to continue the bull run.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView$51,000 remains the deal-breaker for BTCData from Cointelegraph Markets Pro and TradingView painted a dull picture for investors
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Bitcoin exchange inventory level is a good way to gauge market sentiment towards the cryptocurrency. Inflows to exchanges in the past have usually indicated strong sell sentiment. Stemming from investors wanting to cash out the profits that they have made. This is usually the case during bull markets when prices
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Bitcoin (BTC) lost its appetite for further gains on Thursday as BTC price action targeted levels below $45,000.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC price heads toward $44,000Data from Cointelegraph Markets Pro and TradingView showed BTC/USD testing $44,200 during Thursday, down over 4% in 24 hours.The pair had spent the
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Bitcoin (BTC) demanded a $40,000 resistance flip on July as on-chain data revealed large withdrawals from exchanges.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewExchange balances shed 57,000 BTCData from Cointelegraph Markets Pro and TradingView showed BTC/USD rise to challenge the upper end of its trading range once more on Thursday.The pair
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The Grayscale Bitcoin Trust (GBTC) is echoing bullish sentiment in Bitcoin (BTC) as its premium over spot price rises to its highest since May.Data from analytics resource Bybt shows that on Tuesday, the so-called Grayscale premium stood at -5.88%. The last time it was closer to zero was on May
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Cardano (ADA) has been one of the most resilient coins in the crypto market. While Bitcoin has experienced a 50% correction and has revisited the yearly open, ADA has traded well above its previous lows. At the time of writing, ADA trades at $1,14 with a 2.7% and 4.8% loss in
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The Crypto fear/greed index has dropped to 30These levels were last witnessed in April 2020 after the Coronavirus crash of March 2020Such a low level could be a sign that it is time to buy the dipBitcoin’s sentiment is also at its lowest since September 2020However, caution is advised when
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In an announcement on Monday, Riot Blockchain reported that it produced 187 Bitcoin (BTC) — roughly $11.2 million — last month, an 80% increase over its BTC mining in March 2020. The company said it held more than 1,565 Bitcoin on its balance sheet as of March 31, representing more than
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The price of Bitcoin (BTC) has surpassed $61,000 on April 10 for the first time in nearly a month. Following the breakout, traders are starting to look at new levels of resistance and support in the short-term as optimism returns to the market.In the near term, besides the all-time high
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In brief:Bitcoin’s 30-day rolling correlation with the S&P 500 has increased to levels last seen in March and October of 2020Bitcoin’s correlations with gold, bonds and the dollar index (DXY) have decreasedBitcoin price is currently more influenced by the global macro eventsBTC is currently challenging gold as an ideal hedge
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