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"Short-positioned traders are dominating the derivative market. This indicates that bitcoin's bounce was driven by [the spot market] rather than derivatives, which is confluent with the significant bidding seen on Coinbase," Marcus Sotiriou, analyst at the UK-based digital asset broker GlobalBlock, wrote in an email to CryptoX. Source
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Bitcoin (BTC) held onto fresh upside on Tuesday after a resurgent stock market took the largest cryptocurrency above $37,500.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView.Fed may spark fresh volatilityData from Cointelegraph Markets Pro and TradingView showed BTC/USD trading above $36,000 on Tuesday, with maximum 24-hour gains totaling 14% versus Monday’s floor. Bitcoin’s
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UBS, Switzerland’s largest bank, has warned about a crypto winter where prices crash and may not recover for years. The bank’s analysts explained several major reasons affecting the prices of cryptocurrencies. UBS Expects Crypto Winter That Could Last Years Switzerland’s largest bank, UBS, has warned of a crypto winter where prices crash
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Bitcoin (BTC) hash rate has returned to all-time highs despite losing a key hash rate contributor. Meanwhile, amid lackluster price action, Block CEO Jack Dorsey confirmed the creation of an open Bitcoin mining system.The BTC space continues to surprise and bewilder critics and fanatics alike. Kazakhstan, the network's second most important
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“The Fed sees inflation lasting till mid-2022 and that is probably when they will let the balance sheet decline,” Edward Moya, senior market analyst at The Americas OANDA said. “The path of inflation may drive quicker rate hikes and a sooner start to shrinking the balance sheet, and that could
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That said, the technical indicator’s past record as a predictor of bear markets is mixed. According to research by Kraken, many of bitcoin’s previous death crosses, including those seen in 2014 and 2018, coincided with “either a sell-off in the days that followed or a continued macro downtrend that confirmed
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China’s social media giant, Wechat has said it will support the digital yuan in a move that is expected to increase the of Chinese residents that use the central bank’s digital currency (CBDC). Wechat’s support of the digital yuan potentially avails the digital currency to the social media’s 800 million
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“If the Fed goes to 4 hikes next year, that is a big statement. That means either two things. First, they are hiking in March, which would be no gap between the end of QE and the first hike. Not impossible, but that is a big statement about intent,” John
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A finance professor at the Wharton School of the University of Pennsylvania has warned about inflation and the Fed hiking rates many more times than the market expects. He also said that bitcoin has become the new gold for the millennials. Finance Professor on Bitcoin and Inflation Wharton’s finance professor Jeremy Siegel
Read MoreBitcoin (BTC) could see further downward price pressure this week as network difficulty is set to drop the most in five months.Data from data resource BTC.com estimates that difficulty will drop by 8.3% at the next automatic readjustment in four days’ time.Difficulty set to repeat June readjustmentThe mining difficulty is
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