Bitcoin’s Price Dips Back Below $750 on Profit Taking
Last week Bitcoin continued its strong autumn rally as price broke above the $755 local high on the way to testing the June high of $778. While the bulls were unable to break above that key level on the first try, unsurprisingly, we think there will be another opportunity following the current pullback and consolidation. While many U.S. traders were spending time with family during the Thanksgiving holidays over the past few weeks, Bitcoin market makers were hard at work pushing the price to the upside in order to test key resistance levels. Following a breakout above the near-term local....
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Key Highlights. Litecoin's price surged higher and even managed to break an important resistance area of $3.50-60. A perfect break can be easily noticed on the hourly chart (data feed from HitBTC), with support now at $3.60. Buying dips may be a good idea in the short term, as the broken resistance area could act as a support moving ahead. Litecoin's price traded higher intraday, and our idea yesterday of buying with a break played well. Now we can look to buy dips in the short term. Buy Dips? Litecoin price is currently trading in an uptrend on the 1-hour chart, as there was a critical....
Bitcoin is getting livelier at current six-week highs, data shows, as profit-taking comes back into the spotlight. Bitcoin (BTC) asleep for up to a decade is waking up this week as BTC price action sees six-week highs.Data from on-chain analytics firm Glassnode shows some of the oldest “dormant” bitcoins returning to circulation.BTC trends out of hibernationAs BTC/USD stages something of a comeback in the second half of October, hodlers are changing their behavior after a year-long bear market.According to Glassnode, the number of bitcoins previous stationary in their wallet for 7-10 years....
While demand for Bitcoin remains high, current profit-taking behavior suggests that the market may be on the verge of turning bearish. After weeks of Bitcoin (BTC) sell-offs, high-net worth Bitcoin holders, or whales, are finally back to buying. Their buying activity not only picked up when BTC's price broke out of the two-months ascending triangle to new all-time highs, but it has also stayed intact since the price crash on April 18.Whales have come back to accumulate BitcoinWhales' continuous buying activity comes at a time when the number of addresses holding more than 1,000 Bitcoin has....
On-chain data shows investor realized profits on the Ethereum network have hit their highest level in three weeks alongside the dip in the ETH price. Ethereum Realized Profit/Loss Shot Up Recently According to data from on-chain analytics firm Santiment, the Ethereum Network Realized Profit/Loss has observed a spike recently. This indicator tells us, as its name suggests, the net amount of profit or loss that ETH investors as a whole are realizing through their transactions. Related Reading: Bitcoin Falls Below $80,000: Coinbase Sellers To Blame? The metric works by going through the....
Bitcoin has retraced back to the $71,000 level, as on-chain data shows profit-taking behavior among investors has once again witnessed a spike. Bitcoin Realized Profit Crossed $20M/Hour During Rally In a new post on X, on-chain analytics firm Glassnode has talked about the latest trend in the Bitcoin Realized Profit, which is an indicator that […]