Another week, another round of Crypto Tidbits. Bitcoin has been one of the best-performing assets in financial markets over the past week, managing to rally as high as $9,500 — over 25% higher where it started this week. Altcoins, interestingly, have underperformed the market leader, with Ethereum and XRP both gaining around 10% over the past…
DetailsDespite the roaring recovery in the S&P 500, crypto, and other markets, many facets of the global economy remain in recession. Dozens of millions are unemployed, consumer spending is down, and the global supply chain has come to a screeching halt. With cashflows going negative around the world, meaning firms are at risk of going…
DetailsThe past few days have undoubtedly been bullish for Bitcoin, with the cryptocurrency ripping over 20% higher from the mid-$7,000s to a price as high as $9,500 over the course of 48 hours. This stunning rally has brought the cryptocurrency above some key resistance levels pointed out by traders. One trader noted that during the…
DetailsBitcoin’s correlation with the S&P 500 broke Friday as it climbed circa 4.5 percent ahead of the New York opening bell. On the other hand, futures tied to the U.S. benchmark fell 2.26 percent. The losses came despite Amazon announcing record revenues, shifting focus to fresh trade tensions between the U.S. and China. Bitcoin resumed…
DetailsXRP holders breathed a collective sigh of relief as Ripple continues to pause sales of its native token. This equates to a total of six months in which the firm has not benefitted from “XRP dumping.” The issue first gained traction around the end of 2019. Back then XRP investors claimed that “XRP dumping” (or…
DetailsLast night’s Bitcoin monthly April candle closed as a bullish engulfing, often considered a reversal candle by traders and analysts. Bulls must beware, however, as one of the most respected top technical analysts recommends not trading this setup when the primary trend is down, as more often than not it leads to another devastating crash.…
DetailsChainlink is joining forces with Smart Chain Arena and Cryptonomic to provide the Tezos developer community with real-time data feeds via its decentralized oracle network. Now, anyone building smart contracts on top of the Tezos protocol will be able to access off-chain resources and use this data within their on-chain applications. “Providing Tezos developers with…
DetailsThe cryptocurrency margin trading platform that once enjoyed the crown across the industry, has just reached a historical low on the platform’s now-notorious Bitcoin open interest. According to data, the once industry leader has been on a downward trajectory ever since the Black Thursday collapse that not only crushed Bitcoin prices, but may have put…
DetailsAlthough Chainlink has been one of the most bullish cryptocurrencies throughout 2019 and 2020, its short-term price action has lagged against that of Bitcoin and many of its other peers. The crypto is flashing some signs of immense short-term weakness after its bullish divergence was “destroyed,” leading some analysts to now watch for a significant…
DetailsBitcoin’s insane rally yesterday that allowed it to climb nearly $2,000 at its peak has stalled, with the retrace from its daily highs of $9,500 printing a massive wick that has made its daily candle look quite bearish. Analysts are now noting that a myriad of different technical factors suggest that the cryptocurrency may be…
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