Bitcoin buying algos 'seldom care about price' in 2021, says analyst
A blow-off top may yet appear but market composition has changed and 20% dips are being bought with "aggression," says filbfilb. Bitcoin (BTC) is not far from a blow-off top price implosion but investors are "aggressively" buying the dip.Speaking to Cointelegraph on Jan. 8, popular analyst filbfilb revealed that Bitcoin was due a corrective phase given the pace of recent gains.filbfilb: I don't think we're far from blow-off topOn Thursday, BTC/USD exceeded $40,000 before a spectacular reversal saw a $2,200 drawdown in under give minutes. Thereafter, fresh attempts to flip $40,000 to....
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Crypto analysts Nik and Doctor Profit have provided insights into why the Bitcoin price is crashing today. The flagship crypto has again dropped below the psychological $90,000 level, sparking bearish sentiments among market participants. Why The Bitcoin Price Is Crashing Today In an X post, Nik remarked that the Bitcoin price didn’t dump because of bad news but because the “clock flipped.” He noted that a large number of algos sold off at the same time with the daily close, and also considering that it is a new week and a new month. The analyst added that it is not traders making....
CME Group’s recent announcement that it will launch ether (ETH) futures on Feb. 8, 2021, is the “writing on the wall” that institutions will being buying the cryptocurrency next year, according to a pair of tweets by Ryan Watkins, an analyst at crypto data provider Messari.
Traders are buying every dip and pushing Bitcoin price to new highs on a daily basis, triggering many altcoins to follow suit. Bitcoin (BTC) again rose to a new all-time high on Friday as bulls continued to buy on every minor dip. As the price reached a new high, Bitcoin’s market capitalization soared above $775 billion, taking it past Facebook’s market cap, according to the website Companies Market Cap. This means, there are only six companies in the world that currently have a greater market cap than Bitcoin. The pace of the rally seems to have caught several traders off guard. Popular....
On-chain data shows the Litecoin whales have participated in a significant amount of buying recently, a sign that could be bullish for LTC’s price. Litecoin Whales Have Added Big To Their Holdings Recently As explained by analyst Ali Martinez in a new post on X, the LTC whales have been busy buying during the last […]
The XRP price is nearing the final stages of an ABC correction, potentially setting the stage for a strong recovery. According to a crypto analyst, the XRP price may decline further before making a move to the upside. As the final leg unfolds, the altcoin may soon present new price targets for a compelling buying […]