TA: Bitcoin Drops To $54K, Why Recovery Could Be Limited In Short-Term
Bitcoin price extended its decline below the $55,500 support zone against the US Dollar. BTC is currently recovering, but it is likely to struggle near $55,500 and $56,450. Bitcoin failed to clear $58,000 and it started a fresh decline below $57,000. The price is now trading well below $56,450 and the 100 hourly simple moving […]
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The downside of Bitcoin is limited in the short term as BTC attempts to recover from a steep pullback. Throughout the past few days, the sell-side pressure from all sides has intensified. Bitcoin miners have sold their holdings at a scale unseen for over three years. On top of this, the inflow of whale-associated BTC into exchanges has substantially spiked. The combination of the two data points indicates that miners and whales have been selling in tandem.Bitcoin continues to trade under $18,000 following a week of aggressive selling from whales, miners and, possibly, institutions.....
Bitcoin short-term supply continues to shrink further as the amount of BTC changing hands drops down to 2015 levels. Bitcoin Short-Term Supply Declines To 2015 Levels As per the latest Arcane Research report, the BTC supply shock continues as the number of coins changing hands drops down to levels not seen since 2015. The “number […]
Ethereum formed a short-term top near $620 and started a sharp decline against the US Dollar. ETH price is correcting gains and it could revisit the $500 support zone. Ethereum started a downside correction after it failed to stay above the $580 support. The price traded below the $550 support and the 100 hourly simple […]
According to Glassnode’s latest The Week On-Chain report, Bitcoin (BTC) must remain above the Short-Term Holder (STH) cost basis to avoid potential downside risks. Historically, this price level has served as a crucial pivot point between local bull and bear market phases, making it a key area to watch. Bitcoin Must Avoid Sliding Below STH […]
Cardano (ADA) has seen the bulls finally reclaim control after a long stretch in the bear territory. This is a welcome change for the digital asset which remains one of the largest cryptocurrencies and widely used networks. However, after properly cementing its position in this bullish level for the short term, the question still remains on how the digital asset is looking towards the long term. ADA Bullish For The Short Term The price of Cardano (ADA) successfully broke above $1.2, which puts it on a bullish path for the short term. The indicators for this include the fact that the....