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Ethereum’s intense momentum stalled after it peaked at $145 this weekend. The cryptocurrency now appears to be well-positioned to see further upside, as this momentum significantly bolstered its market structure.The recent movement that led ETH to rally from the lower-$200 region to highs of $245 left a trail of destruction
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Ethereum has been able to maintain its position above $200 despite facing some intense selling pressure earlier this week.The cryptocurrency is now attempting to generate some upwards momentum as it fast approaches a key resistance level.Traders do anticipate this level to be surmounted in the days ahead, as its technical
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Ethereum has some immense weakness in recent times, severely underperforming Bitcoin and the aggregated crypto market as it continues struggling to garner any upwards momentum.Traders don’t seem to think that this lackluster price action will last for too much longer, however, as open interest for ETH has been rocketing higher
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Open contracts on bitcoin options rose to record highs on Thursday as the cryptocurrency’s price rose into five figures.Data from major exchanges – Deribit, LedgerX, Bakkt, OKEx, and CME – shows that open interest on options rose above $1 billion, surpassing the previous all-time high of $70 million registered on
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Just five days out from the Bitcoin block reward halving, analysts are buying coins en-masse in preparation for more upside.The cryptocurrency topped $9,750 just minutes ago for the first time since March, setting a new local high just shy of $9,800. With this, BTC is up 4% from ~$9,400 in
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Bitcoin is quickly gathering upward momentum alongside a surge in open positions on futures listed on the Chicago Mercantile Exchange (CME). The top cryptocurrency by market value jumped to a high of $9,220 at 10:20 UTC on Wednesday, having settled (UTC) above $9,000 on Tuesday to register its first above-$9,000 daily
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While bitcoin hit fresh three-month highs on Wednesday, open interest in monthly bitcoin futures on the Intercontinental Exchange's (ICE) Bakkt platform jumped to record highs. Open interest, or the number of open futures contracts, rose to $13 million, surpassing the previous record high of $12 million reached on Feb. 3, according
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The number of traders who had bullish positions on bitcoin is declining. And it could be significant in determining the cryptocurrency’s next big move.Charts on the Bitfinex exchange earlier showed an almost parabolic rise in long positions, showing that investors expected to profit from a rise in the bitcoin price.Between
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It has been a profitable week, largely because I caught the big Bitcoin (BTC) move up from the local bottom. I closed a majority of my altcoin trades, some on tight stops and others at a decent profit. Overall, I’m very happy with the results, although as I mentioned last
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Trading altcoins continues to be one of the most profitable strategies in the crypto market. The highlight of this week was the MATIC (MATIC) pump and subsequent dump, which I was lucky enough to time perfectly, securing a 60% profit near the all-time high. I closed a number of
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