Bitcoin bulls are confident even as a key BTC price metric hits a new low
Bitcoin’s long-to-short ratio has dropped to a five-month low, but bears are not taking the bait, suggesting bulls are still in control of BTC price. Margin trading allows an investor to borrow money or cryptocurrency to leverage their trading position and increase its size or the expected return. For example, borrowing Tether (USDT) will allow one to buy Bitcoin (BTC), thus increasing the exposure. Although there’s an interest rate involved with borrowing, the trader expects BTC's price appreciation to compensate for it.Newer traders might be unaware of this, but investors can borrow BTC....
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The Bitcoin price has been gaining momentum and steadily rising back to a more bullish price position of $30,000. Despite market downturns, long-term holders of the cryptocurrency are increasing their investments in hopes of a significant bull run. s the holder metric hits a new all-time high. Bitcoin Price Rises As Holder Metric Peaks Bitcoin’s […]
The "Investor Tool" is now telling the market that "outsized returns" are due for anyone who buys Bitcoin now. Bitcoin (BTC) bulls may only need a pair of simple moving averages (SMAs) to determine if the bottom is in this halving cycle.In a Twitter thread on June 2, Checkmate, lead on-chain analyst at crypto analytics firm Glassnode, flagged the Investor Tool metric hitting “buy the dip” territory."Generational zone" enters for Bitcoin's Investor ToolThe Investor Tool is a simple yet effective BTC price metric showing the potential for buyers to enjoy “outsized” returns.Its creator,....
Bitcoin seals new all-time highs against multiple major fiat currencies, but overall mainstream interest from consumers is still at rock bottom. Bitcoin (BTC) failed to beat its all-time highs on Oct. 20, but a separate record kept bulls confident of a breakout.BTC/USD 1-day candle chart (Bitstamp). Source: TradingViewBitcoin hits new all-time high against euroData from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $64,490 on Bitstamp overnight.While inches from matching April’s peak, the action nonetheless sealed Bitcoin’s highest-ever daily close — around $64,230.In....
On-chain data shows stablecoins reserve has hit a new all-time-high (ATH), here’s what it could mean for Bitcoin’s price based on past patterns. Stablecoins All Exchanges Reserve Achieves New ATH As pointed out by a CryptoQuant post, the all exchanges stablecoins reserve has spiked up and reached a new ATH. Past pattern of the indicator might help predict how Bitcoin’s price will move next. The all exchanges stablecoins reserve is a metric that measures the amount of stablecoins present on all centralized exchanges. When the value of this indicator goes up, it means more....
Bitcoin and most major altcoins have not tracked the recovery seen in stocks, a possible indicator that further downside is possible. Equities markets in the United States rallied sharply on May 25 and 26 but Bitcoin (BTC) and altcoins have not followed a similar trajectory. This suggests that traders are not confident that the crypto markets have bottomed out yet. On-chain analytics firm Glassnode said that the number of Bitcoin whales has been reducing and on May 27, the metric fell to the lowest level since July 2020. On May 24, Miller Value Partners founder and chief investment officer....