Bitcoin’s range-bound price action below $10,000 is leading its Google trends down. Search volume for the cryptocurrency has dipped lower after topping at 63 earlier this year. The slipping score attests to a lesser public interest than what was during mid-2019. Even amid a financial crisis, Bitcoin has emerged as one of the year’s most…
DetailsEthereum is currently consolidating above the $210 level against the US Dollar. ETH price is still struggling to clear the $215 and $216 resistance levels. Ethereum is facing an uphill task near the $215 and $216 resistance levels. A strong support is forming above $208 and the 100 hourly simple moving average. There is a…
DetailsWhile Bitcoin has seen its fair shares of rallies and crashes since the 2017 highs of $20,000, the cryptocurrency has not yet entered its fourth macro market cycle. Though a crucial on-chain indicator signals that this is changing. Related Reading: There’s an Unexpected Silver Lining to J.K. Rowling’s Bitcoin Tirade Bitcoin on Verge of Its…
DetailsDeribit has been the most dominant force in the Bitcoin options market throughout 2020. With a 78 percent market share, no other competitor is close to reaching similar levels of volume and open interest. On May 20, the exchange achieved 100,000 BTC open interest, equivalent to around $970 million based on data from Skew. According…
DetailsIn February this year, Justin Sun’s Tron Foundation purchased social media crypto DApp Steemit. Following that, Sun and the Steem leaders were at loggerheads over who would lead the community. Ultimately, a month later, this resulted in community members hard forking the Steemit protocol to relaunch as “Hive.” Today, Sun made a lengthy response to…
DetailsBitcoin is trading above the $9,600 and $9,500 levels against the US Dollar. BTC price is showing positive signs and it seems a few steps away from smashing the $10,000 resistance. Bitcoin is trading nicely above the $9,600 and $9,560 support levels. The price is likely to make another attempt to clear the $9,950 and…
DetailsResearch from crypto-friendly venture capital firm Andreessen Horowitz found that the compound annual growth rate (CAGR) for Bitcoin’s price and social media activity regarding cryptocurrencies reached 200%. The company analyzed 10 years’ worth of data from various social media channels to determine whether or not this market has moved in cycles. The Crypto Market Actually…
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Bitcoin has seen some notable upwards momentum throughout the past several weeks, but it has failed to successfully surmount the $10,000 region. This price region has been a historically strong level of resistance for the benchmark cryptocurrency, as it has failed to hold above it for any extended period of time subsequent to its late-2017…
DetailsThe transaction fees on the Bitcoin network have increased by more than 1,300% since the beginning of the year, with the halving pushing the amount necessary to perform a transaction all the way up to $5.1 on May 11. However, despite the huge increase in fees, many pointed out that Bitcoin is still a lot…
DetailsThe global events seen throughout 2020 have largely altered Bitcoin’s underlying market dynamic, causing the cryptocurrency to see a massive rise in institutional involvement. Many of these institutional investors have been moving to gain exposure to BTC via its CME futures, which has seen a massive rise in open interest throughout the past several days…
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