Bitcoin 30-Day CDD Down: Market Absorbs LTH Selling Without Breaking Support
Bitcoin is trading at a decisive level after surging to fresh all-time highs, touching $124,000 before pulling back. Bulls remain in control, but the market now shows signs of hesitation, with BTC struggling to confirm momentum above $120,000. This price action reflects indecision among traders as the market balances profit-taking with renewed accumulation. Related Reading: Ethereum On-Chain Volume Soars To $13 Billion, Approaching Historic Records On-chain data highlights a key shift in dynamics. After a sharp increase in the 30-day average Coin Days Destroyed (CDD) — a metric often used....
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The Bitcoin price appeared to have resumed its bull run as it ran up to a new all-time high on Thursday, August 14. However, this positive momentum was short-lived, as the premier cryptocurrency crashed from the unprecedented high of $124,000 down to around $118,000. The Bitcoin price has struggled to reignite this bullish run over the weekend, hovering in and around the $118,00 level for the majority of Saturday, August 16. The latest on-chain data suggests that this price sluggishness might persist over the next few weeks. Bitcoin Netflow On Binance Turns Positive As Selling Pressure....
Properly identifying support and resistance levels can be the difference between a winning trade and significant losses. Trading should just be a simple process of buying low and selling high but for many investors the process is more akin to rocket science. One of the most basic and easy-to-understand strategies that can help accomplish this is to identify an asset’s support and resistance levels.Once traders can spot the support and resistance levels, they can improve their entry and exit timing in the market. Support and resistances are also helpful during bullish, bearish and....
Crypto exchange Binance has had a tough few months in terms of market news and pressure from regulatory bodies. Just a few days ago, Binance lost another payment processing partner after Checkout.com terminated its contract with the crypto exchange. And now, another rumor that appears to be spreading is that Binance is selling Bitcoin on the spot market to sustain the price of its native token, BNB. Is Binance Really Selling Its Bitcoin To Buy BNB? The rumor originated from a post made by @WhaleChart on X (formerly Twitter), claiming that Binance is allegedly selling Bitcoin on the spot....
The competition will become clearly one-sided as the black hole of value that is bitcoin absorbs everything around it.
Bitcoin has been trading on the green side this Thanksgiving morning with a 4.1% profit in the 24-hour chart. Approaching a critical resistance level, BTC’s price stands at $59,042 and could see more appreciation in the short if it manages to flip $60,000 to support. Bitcoin has been rangebound for the past week with low volatility for the most part as the price was rejected close to $60,000 on Monday. According to QCP Capital, an institutional investor is most likely responsible for the price action and suppression of any serious momentum on BTC’s price rally attempts. Related Reading....