Cryptocurrency Analysis and News Portal
Cryptocurrencies failed to break the 42-day long downtrend after the $1.95-trillion capitalization resistance was rejected on March 20. Even though Bitcoin (BTC) gained a modest 3.7% over the past seven days, altcoins presented a robust rally.Crypto markets’ aggregate capitalization showed a 6.2% increase to $1.92 trillion between March 14 and
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Bitcoin's (BTC) last daily close above $45,000 was 66 days ago, but more importantly, the current $39,300 level was first seen on Jan. 7, 2021. The 13 months of boom and bust cycles culminated with BTC price hitting $69,000 on Nov. 10, 2021.It all started with the VanEck spot Bitcoin
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Whenever Bitcoin (BTC) fails to break through important resistance levels, traders gain confidence and add to their altcoin positions. The logic is that, unless BTC drops significantly, these movements historically provide decent rewards for those shifting their portfolios toward higher risk.Bitcoin/USD at FTX. Source: TradingViewIn the past seven days, the
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Blockchain analytics provider Glassnode has depicted a bearish scenario for Bitcoin as on-chain metrics suggest increased selling pressure is imminent.In its weekly analytics report on Feb. 21, on-chain metrics firm Glassnode said that Bitcoin bulls “face a number of headwinds,” referring to increasingly bearish network data.The researchers pointed at the
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Bitcoin (BTC) has a “possibility” of winning back more lost ground this month, but a retest of $40,000 may test bulls beforehand.In its latest market update on Feb. 11, trading suite Decentrader voiced cautious optimism over BTC price action.Derivatives turn complementaryAfter rallying above $45,500 on the back of United States economic data,
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Bitcoin analyst and co-founder of software firm Hypersheet Willy Woo believes that on-chain metrics show that BTC is not in a bear market despite observing “peak fear” levels. Speaking on the What Bitcoin Did podcast hosted by Peter McCormack on Jan. 30, Woo cited key metrics such as a strong
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As 2022 gets underway, the decentralized finance (DeFi) sector of the cryptocurrency ecosystem appears to be gaining momentum in what could be an echo of the bullish market seen in seen in early 2021. Data from crypto market intelligence firm Messari shows that over the past 30 days, five out of
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Bitcoin (BTC) has been struggling to sustain the $47,500 support since the Dec. 4 crash, a movement that wiped out over $840 million in leveraged long futures contracts. The downside move came after the emergence of the Omicron variant of the Coronavirus and recent data showing U.S. inflation hitting a
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Much to the chagrin of cryptocurrency proponents who call for the immediate mass adoption of blockchain technology, there are many “digital landmines” that exist in the crypto ecosystem such as rug pulls and protocol hacks that can give new users the experience of being lost at sea. There’s more to investing
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While ether, the native token of Ethereum’s blockchain, remains on an upward trajectory, metrics like active addresses, trading volumes have decoupled from the rising price. According to blockchain analytics firm Santiment, these negative divergences indicate scope for a price pullback. Source
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