Ethereum started the week with a promising performance, experiencing a gain of over 3%. However, the bullish momentum was short-lived as the altcoin failed to sustain its position above a key resistance level. Within the past 24 hours, ETH’s market value has declined by nearly 3%. Throughout the week, the ETH price has shown limited…
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Bitcoin (BTC) has failed to hold onto gains over the past few weeks, giving back nearly all price increases shortly after they are made. According to crypto analyst and trader Daan Foppen, this phenomenon can be attributed to the outsized influence of futures markets on Bitcoin’s price action. Foppen notes that Bitcoin’s spot market, where…
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Bitcoin price is falling, testing the low $26,000 area of support after weeks of painful, sideways consolidation. While the horizontal support line is clearly important, it’s nowhere near as critical as another line that BTCUSD absolutely must hold to remain bullish. Drawing Trend Lines In Bitcoin Technical Analysis In the practice of technical analysis, drawing…
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Despite lackluster trade volume and price movements in the cryptocurrency market, Tether’s market cap is rising, nearing its all-time high of $82.9 billion. Tether, also known as USDT, is a stablecoin pegged to the U.S. dollar, making its value more stable than other cryptocurrencies. USDT’s Explosive Growth The question remains: why is Tether’s market cap…
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On-chain data shows the Bitcoin sell-side risk ratio has approached all-time lows recently, a sign that a big move could be coming for the coin. Bitcoin Sell-Side Risk Ratio Has Observed A Plunge Recently As pointed out by the lead on-chain analyst at Glassnode in a Tweet, BTC sellers may have become exhausted recently. The…
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The Ethereum (ETH) network has reached a significant milestone following the highly-anticipated Shanghai upgrade, as staking activity soars to new heights. According to crypto analytics platform Cryptorank, the Ethereum deposit contract balance has exceeded $40 billion, with users depositing over 4.4 million ETH since April 12 (the date of the Shanghai upgrade launch). This surge…
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Polkadot (DOT) is in the red today as the bears seek to regain control over its price. DOT traded at $4.37 on January 1, 2023, and increased to $5.13 on January 11. It remained within this range before moving to $6.23 on January 20. Also, DOT increased to the $7 price level on February 17…
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A press release shared with Bitcoinist claimed that Bitfinex partnered with crypto bank OrionX. The cooperation will allow the trading venue to strengthen its foothold in the Latin American region by targeting key countries with a high demand for crypto products. Bitfinex Grows In Latin America, What’s Behind Deal With OrionX? Based in Chile, OrionX…
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Cosmos (ATOM) experienced a short bullish momentum on May 10, 2023. The asset saw an increase of 10.89% taking its price to a high of $11.2. However, the bears regained control of the market on May 13 and sent the coin to its current price of $10.40, representing a decrease of 1.12%. From the beginning of…
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Data shows the sharks and whales of the largest stablecoins have been accumulating, something that may turn out to be bullish for Bitcoin. Sharks & Whales Have Been Loading Up On Stablecoins Recently According to data from the on-chain analytics firm Santiment, the sharks and whales have recently improved their share of the total supply…
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