Crypto traders shift their focus to altcoins while Bitcoin price consolidates
Traders shift their focus to XRP, UNI, QNT and EGLD while Bitcoin continues to consolidate around the $20,000 level. It has been difficult for Bitcoin (BTC) and the cryptocurrency markets to start a strong sustained recovery while the United States dollar is near its multi-year high and the U.S. equities markets are near their June lows. This shows that the sentiment remains negative and traders are not interested in taking on risk in their portfolios.The U.S. equities markets fell sharply on Oct. 7 following the release of September’s nonfarm payroll data but they did manage marginal....
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Bitcoin is attempting to hold on to its recent gains and as the price consolidates, traders may focus their attention on altcoins such as LUNA, AVAX, ETC, and EGLD. Bitcoin (BTC) rose above $42,000 on March 19 but the bulls continue to face a strong challenge from the bears at higher levels. Although Bitcoin’s price has recovered from $37,578 on March 13, Cointelegraph market analyst Marcel Pechman highlighted that the long-to-short net ratio of top traders across three major exchanges shows that professional traders have not been buying aggressively.But while Bitcoin struggles at higher....
It has been a rough past few days for altcoins, with many posting capitulatory losses as Bitcoin continues struggling to garner any sustained upwards momentum that can send it past its $13,800 resistance. Despite the lack of momentum seen by BTC, it remains incredibly strong from a technical perspective, and there’s no real justification for […]
Crypto traders shift focus to ether as second-largest cryptocurrency surges to new record price, but bitcoiners aren't going anywhere.
Bitcoin price fell back into the descending triangle but this dip may attract buyers to altcoins and DeFi tokens in the short term. Over the past seven days, the crypto market saw an uptick in volatility as Bitcoin (BTC) and Dogecoin (DOGE) price rallied higher simply because of social media activity. In situations like these, traders who make their investment decisions based on emotions tend to incur heavy losses and this is exactly what happened last week. Dogecoin’s (DOGE) recent pump and dump caused several new traders who bought due to FOMO to lose money within a short time and this....
Over the past few weeks, Chainlink’s price action has been nothing short of lackluster, with the cryptocurrency failing to gain any serious momentum as investors widely shift their focus away from altcoins and towards Bitcoin. This trend shows few signs of letting up anytime soon, as most major altcoins are all stagnating as BTC continues […]