Bitcoin Rally Hits Wall as Price Stalls Below $104K, Analyst Cites Derivative...
Bitcoin experienced a notable surge earlier this week, climbing above the $104,000 mark and registering a weekly gain of nearly 10%. However, after reaching this level, the asset appears to have encountered resistance, with upward momentum slowing and price action remaining relatively flat in recent days. At the time of writing, BTC is trading at $103,663, reflecting a modest 1.7% increase over the past 24 hours. Amid this price performance, one of CryptoQuant’s top analysts, Darkfost, offered insight into the current market stagnation. Related Reading: Bitcoin Rally Stalls as SOPR Spikes:....
Related News
Despite experiencing a crash to new lows, analysts remain optimistic about the Dogecoin price outlook. Notably, Trader Tardigrade, a crypto expert on X (formerly Twitter), has predicted a surge to $2 for the Dogecoin price. The analyst cites historical price patterns that show the meme coin typically undergoes a significant pullback before a rally to […]
A few analysts say Ripple’s XRP is preparing for an explosive price action. Steph, an analyst under the “StephIsCrypto” username, offers a bold, positive outlook for XRP, saying that a significant price rally is in the pipeline thanks to increased global liquidity. Related Reading: Solana DeFi Momentum Soars With $5.7 Billion Locked In Q3 In a published analysis, Steph highlighted the token’s historical relationship with increased liquidity and structural patterns like the descending channel and the Bollinger Bands. According to Steph, these are the primary factors that set up XRP for a....
Ether's derivative market looks overheating amid the cryptocurrency's rally to new record highs.
Bitcoin’s price remains below the $100,000 mark, trading at $98,000 at the time of writing. While this positions its daily performance in positive territory, the larger picture suggests continued bearish pressure. Over the past month, Bitcoin has declined by 6%, and its current price represents a 10% decrease from the all-time high above $109,000 recorded last month. This prolonged downturn has led market participants to closely examine on-chain metrics for clues about what might come next. Related Reading: Bears In Trouble? Bitcoin Liquidity Signals A Brutal Squeeze To $111,000 Short-Term....
The ETH price stalls following a week of gains, leading analysts to call for a pullback in the short term followed by a rally into September when the mainnet Merge is predicted to occur. Price action across the cryptocurrency market was largely subdued on July 21, as traders took a day to digest gains over the past week and book profits following the biggest relief rally since early June.Amid speculation about what drove the recent rally, the Ethereum Merge has consistently ranked at the top of the list. The market rally shifted into high gear after a tentative date of Sept. 19 was set for....