Bitcoin still faces significant resistance at $62,000, and if it breaks, it could liquidate over $845 million of leveraged shorts. Crypto market analysts say the Bitcoin bear trap is officially over. Based on historical chart patterns, they are eyeing the next price breakout. Was the 25% Bitcoin price drawdown a bear trap? A bear trap is a form…
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Bitcoin is just 12% shy of all-time highs, but a trader says it could stay in this zone for at least the next few months unless demand comes through. The price of Bitcoin may hover around the $66,000 zone until September, and if so, will provide investors with ample opportunities to accumulate, according to a…
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BlockTower Capital CIO Ari Paul is prepared to “lay 10:1” against the possibility of the US creating a Bitcoin strategic reserve in the next four years. The idea of the United States government holding a Bitcoin strategic reserve may be “bullish” for its price, but it is unrealistic to actually come to fruition in the…
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Institutions are buying as Bitcoin dips under $60,000, strengthening the long-term bullish outlook for BTC’s price. Independent market analyst Arsen remains unfazed by the recent dip in Bitcoin’s price, predicting a monumental rebound to $330,000 in the current bull cycle. Smart money is accumulating Bitcoin Arsen argues that smart money — institutional investors, market experts and other…
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The Bitcoin price correction provided a strong opportunity for ETF investors to buy the dip. United States-based Spot Bitcoin exchange-traded funds (ETFs) experienced a surge in inflows on July 6, following Bitcoin’s price dropping below $54,000 just days earlier on July 4. According to Farside Investors, the spot Bitcoin ETFs saw their largest net inflows in a month,…
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The German government’s latest Bitcoin transfers could impact the market significantly, as it moves 3,000 BTC to various crypto exchanges and an unknown wallet. A crypto wallet linked to the German government transferred more than 3,000 Bitcoin worth over $172 million in parts to three crypto exchanges and a wallet. On July 4, blockchain investigator PeckShieldAlert…
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Around $222 million in long Bitcoin positions were liquidated in the past 24 hours, with the price of BTC hitting its lowest point since February. Bitcoin hit a four-month low of $53,499 on Coinbase as news of Mt. Gox’s latest cold wallet transfer hit the markets. Bitcoin (BTC) plummeted at around 4:19 am UTC on…
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Capriole Investments founder Charles Edwards says that multiple onchain metrics point to a “sign of weakness” in the Bitcoin price. The Bitcoin price has fallen 2.25% over the last 24 hours and is currently 16% below its all-time high of $73,835, reached on March 14. BTC/USD daily chart. Source: TradingView The Bitcoin price is down 8.75% over the…
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Low exchange balances indicate low selling pressure and could trigger a supply shock as institutional investors continue to accumulate Bitcoin. The Bitcoin exchange reserve, the total amount of Bitcoin available on exchanges, has dropped to a 3-year low, according to data from June 19, 2024. Analytics from CryptoQuant revealed that there are currently 2,825,703 Bitcoin left…
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Bitcoin price above $72,000 would liquidate $800 million worth of leveraged shorts, making it a significant resistance level for BTC. If the price of Bitcoin reaches $72,000, it would act as a “fuse,” triggering the breakthrough of the $75,000 psychological barrier. Bitcoin hitting $72,000 would spark a wave of mass liquidations, paving the way to new…
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