One observer noted 7,000 PlusToken-related ETH transferred to crypto exchanges on Wednesday, raising concerns about potential selling pressure.
The bullish jobs report adds fuel to hopes for an “Uptober” and fourth-quarter rally in Bitcoin’s price.
Bitcoin surprised traders by opening the week in the red, and the Federal Reserve’s announcement about future rate cuts failed to reverse the downtrend.
Bitcoin’s monthly close could reverse a 6-month-long downtrend and signal traders’ intent to push BTC price to new highs.
Bitcoin’s monthly close could reverse a 6-month-long downtrend and signal traders’ intent to push BTC price to new highs.
Bitcoin’s monthly close could reverse a 6-month-long downtrend and signal traders’ intent to push BTC price to new highs.
The post-Fed risk-on rally supports the normalization narrative, but some indicators disagree, suggesting caution to bulls.
Bitcoin (BTC) could benefit from the People’s Bank of China’s (PBOC) decision to cut the reserve requirement ratio (RRR) by 50 basis points (bps). China Injects Economic Stimulus, Will Bitcoin Benefit? In an announcement on September 24, 2024, the Chinese central bank stated it had slashed the RRR by 50bps. The move bears semblance to […]
Cardano founder's upcoming meeting with the Argentine president Javier Milei is one of the main bullish factors for ADA this week.
Cardano founder's upcoming meeting with the Argentine president Javier Milei is one of the main bullish factors for ADA this week.
BlackRock has reinforced the view that Bitcoin may be the future of the financial sector, as the $9 trillion asset management company has selected Bitcoin as a protection against a sudden Federal Reserve dollar crisis. Related Reading: Hong Kong Crypto Growth Tops Eastern Asia – How Did It Outpace The region? BlackRock Turns To Bitcoin […]
Bitcoin’s failure to hold $64,000 could be an early sign that a price reversal is beginning.
Bitcoin’s failure to hold $64,000 could be an early sign that a price reversal is beginning.
Given the renewed upward performance of the entire cryptocurrency market following the recent Federal Reserve (Fed) interest rate cut, Bitcoin is witnessing a wave of bullish predictions from crypto experts, with some forecasting that BTC’s final surge for this cycle has officially set in. Bitcoin Might Be Poised For The Last Great Rally Crypto expert […]
Bitcoin is trending higher at spot rates, floating above $60,000 and confirming gains of September 13. From price action in the daily chart, buyers appear to be back in the picture. The confidence follows the United States Federal Reserve’s (Fed) decision to slash rates by 50 basis points on September 18. Over $21 Billion Of Shorts To Be Liquidated If Bitcoin Breaks $70,500 While buyers double down, flocking back to BTC, looking at the sharp uptick in trading volume over the past day, one analyst on X has identified an interesting observation if bulls continue to dominate. Citing market data and the liquidation map of Binance perpetuals, the analyst said if Bitcoin flies above $70,500, over $21 billion of shorts will be liquidated. Liquidation happens in the perpetuals market where leverage traders aim to clip market volatility for profit. There are longs, or traders banking on bulls to press prices higher, and shots, betting for prices to drop. Related Reading: October To Remember: Descending Broadening Wedge Says Bitcoin Is Going To $90,000 These positions are leveraged in both instances, meaning they borrow funds from the exchange. The collateral, in this case, the margin, acts as an “insurance” for the exchange. As a result, they will forcefully sell it should the market move against the trader. Looking at the state of price action in the daily chart, Bitcoin needs to expand by around 11% from spot rates of $70,500 to be hit. The immediate liquidation level is at around $66,000, marking August highs. If this level is broken, and the leg up is rising trading volume, the resulting rally could easily be the basis for bulls to overcome the intense liquidation pressure of around $70,000 and $72,000. The $70,000 And $72,000 Resistance Zone Is Crucial For BTC Traders Bitcoin bulls have struggled to break $72,000 since the retest in June. Accordingly, any firm and decisive close above $70,000 can trigger a short squeeze. Therefore, it is highly likely that BTC may retest $73,800 and even print print fresh all-time highs. Related Reading: Cardano Goes Bullish On-Chain: Can ADA Price Catch Up? Coinglass data on September 19 shows that over $69 million of leveraged shorts have been liquidated in the last 24 hours. Meanwhile, more than $13 million worth of longs were also forcibly closed due to market volatility. Over 66,000 crypto traders were liquidated in the past day, and the largest leveraged BTCUSD position worth over $8.9 was closed on Bybit, a perpetuals trading platform, during this period. Feature image from DALLE, chart from TradingView
Former BitMEX CEO Arthur Hayes thinks the upcoming interest rate cuts by the US Federal Reserve (Fed) could ignite a short-term crypto market crash. Fed Is Doing A Colossal Mistake, Hayes Says Delivering a presentation titled ‘Thoughts on Macroeconomic Current Events’, at the Token2049 event in Singapore on September 18, Hayes indicated he is not […]
Bitcoin price rallies to $61,000 after the US Federal Reserve cuts rates by 50 basis points for the first time since 2020.
Wednesday's FOMC meeting carries uncertainty for the market, with investors still divided on the magnitude of rate cut.
With the Federal Reserve’s rate cut only a few days away, a crypto expert has shed light on the aftermath of Bitcoin‘s performance once the interest rate is decreased, particularly on September 18, which has been a major discussion within the general community. Bitcoin’s Short-Term Panic Is A “High Probability” In a cautionary post on […]
Ether’s price in Bitcoin terms has also fallen to its lowest level since April 2021.
Markets are rallying as might be expected on a new rate cut cycle, but crypto continues to struggle.
Bitcoin must hold above the $50,000 mark until the Sept. 18 Federal Reserve meeting to avoid more downside.
Prior to this report, the Fed was widely expected to trim its benchmark lending rate by 25 basis points at its policy meeting next week.
Crypto ownership has not significantly risen even with the bear market over, according to the Federal Reserve Bank of Philadelphia’s Consumer Finance Institute.
Dallas-based United Texas Bank is the latest crypto-friendly bank to face a cease and desist order from the US Federal Reserve, according to a press release issued on September 4, 2024. Federal Reserve Keeping A Close Eye On Bank’s Crypto Business The US Federal Reserve has identified United Texas bank as having “significant deficiencies” in […]
The U.S. central bank has indicated it will cut rates at its mid-September meeting, but the size of the move is up for debate.
Bitcoin remains below $60,000 and is falling. While there is optimism that bulls will flow back and reclaim key resistance levels in the coming days, one analyst on X is bearish. Bitcoin Must Clear This Level For Bulls To Take Over In a post on X, the analyst said the short-term trend will favor sellers […]
Bitcoin may be decoupling from concerns about a US recession and aligning more closely with the US dollar's performance and signs of easing monetary policy, according to ETC Group.