Bitcoin May Have Hit Wall of Profit Takers Around $19,500: Analyst
Huobi Global saw an influx of larger-than-average bitcoin deposits soon before the price drop, an analyst said.
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The bitcoin market looks to be shrugging off increased selling pressure from profit takers after prices surged this week.
On-chain analytics firm Glassnode has revealed how the different Bitcoin investor cohorts have been reacting to the latest price dip. Bitcoin Conviction Buyers Are Stepping In, But Profit Takers Have Also Surged In a new post on X, Glassnode has discussed about the how the supply associated with the various Bitcoin behavioral cohorts has changed […]
Ethereum, the world’s second-largest cryptocurrency by market capitalization, established a new record high on Thursday. The ETH/USD exchange rate reached $1,927 ahead of the London opening bell after surging 4.12 percent. Later, the pair gave up a small portion of its gain to profit-takers. It was trading at $1,896 as of 1224 UTC, still up […]
An analyst has explained how Bitcoin’s bottom in the current cycle may not follow the same pattern as historical bear markets. Bitcoin Could Bottom Around True Mean Price Instead This Time In a new post on X, Checkonchain co-founder Alec Dejanovic has talked about a couple of pricing models related to Bitcoin. The first of these is the “Realized Price,” keeping track of the cost basis of the average investor on the BTC network. Related Reading: XRP Rebounds From Channel Bottom, Analyst Says $2.60 Could Be Next When the BTC spot price is trading above this level, it means....
Wall Street trading firms are a cautious lot, but they can't keep their eyes off of bitcoin. Big trading and investment houses don't want to miss out on possible profit opportunities as bitcoin continues to grow. More of the big proprietary trading firms are dipping their feet into bitcoin, thanks to the profit opportunity it can offer and its ability to streamline transactions, according to an article in The Wall Street Journal. The growing interest of Wall Street trading and investment firms serves to raise Bitcoin's profile in the investment community and the economy at large. "Their....