Bitcoin RSI is either on track to deliver a six-figure BTC price next year or “this time is different,” analysis says. Bitcoin is technically on track to hit $233,000 — and that could come as early as Q1 2025. In a new BTC price forecast, X analytics account Bitcoindata21 used the relative strength index (RSI) to…
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Metaplanet has doubled its Bitcoin holdings this month with purchases totaling more than 450 Bitcoin. Shares in Metaplanet rallied 15.7% on Oct. 15 after the Japanese investment firm announced its latest purchase of almost 107 Bitcoin. Metaplanet’s latest purchase brings its total stash to 855.5 Bitcoin— worth more than $56.1 million — the firm said…
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Bitcoin’s failure to hold $68,000 could be an early sign that a price reversal is beginning. Bitcoin’s price has rebounded by more than 7.5% in seven days after hitting a 10-week high of $67,922 on Oct. 15. However, a sharp correction in the coming days is possible based on several technical and onchain factors. BTC/USD…
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Bitcoin derivatives metrics shifted as BTC price fell under $59,000. Are lower prices incoming? Bitcoin declined by 5.3% between Oct. 9 and Oct. 10, reaching a three-week low of $58,900. The market correction began after the United States reported higher-than-anticipated consumer inflation data, suggesting traders are concerned that the Federal Reserve has less incentive to…
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Bitcoin traders are reducing their risk exposure ahead of the upcoming US inflation report, among other factors contributing to the cautious sentiment. Bitcoin’s price is down today as traders play cautiously ahead of key inflation data in the United States and elevated open interest in the derivatives market. Bitcoin traders de-risk ahead of CPI data…
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Bitcoin ETFs have witnessed $287.80 million in daily outflows amid a growing de-risking mood across the crypto and traditional risk markets. Bitcoin’s price is falling today, mirroring declines across the global risk markets due to fears about the economic outlook. Recession risks pressure Bitcoin, stocks lower As of Sept. 4, BTC was down 3.30% to around…
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Bitcoin traders expect BTC to rally if the Fed rolls out a 0.50% rate cut, but hedging these bullish positions is also necessary. Here is how it’s done. Bitcoin has repeatedly failed to close above the $62,000 level since Aug. 3 and is currently down 11% over the past 30 days. More notably, the cryptocurrency…
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Bitcoin demand among United States investors surged after the Federal Reserve confirmed its intentions to lower interest rates. Bitcoin buyer interest in the United States hit a 39-day high following the US Federal Reserve further confirming that interest rates were due to fall, according to recent data. “Bitcoin demand in the US spiked today as…
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Institutional spot Bitcoin ETF outflows and lowered Bitcoin miner profitability could be driving the current price drop Bitcoin gained 4.3% between Aug. 16 and Aug. 18 but reversed this gain after failing to sustain levels above $60,000. The price corrected to $58,500 while the S&P 500 index futures and gold approached their all-time highs on Aug.…
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Despite Bitcoin dropping 21% from its all-time high, the majority of Bitcoin held in wallets hasn’t been sold or moved for the last six months. Around three-quarters of all circulating Bitcoin hasn’t been moved for the past six months or more, according to onchain data. The findings come from Glassnode’s Hodl Wave chart, which uses…
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