Will Bitcoin Show A Repeat Of The March Rebound?
Will Bitcoin observe a repeat of the rebound that took place after the crash back in March? Here’s what this on-chain metric suggests. Bitcoin Short-Term Holder SOPR Is Showing A Pattern Similar To March As an analyst in a CryptoQuant post explained, if the BTC short-term holder SOPR crosses above 1 in the coming days, a rebound might occur. The “Spent Output Profit Ratio” (SOPR) here refers to an indicator that tells us whether the investors are selling their Bitcoin at a profit or a loss right now. When the value of this metric is greater than 1, it means that the....
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After a continuous decline back in the beginning of March, Bitcoin’s price is now undergoing a period of tentative growth. Will this end up in a new, even sharper fall? What trend should we expect in April? The first month of spring has passed. As was predicted, Bitcoin’s price underwent a downward rebound toward $400-390. The likelihood of that rebound was high, due to the price reaching a key level, while moving along an upward trend. After that, the market had to choose a new trend, and it needed a rebound to do that. Bitcoin price has recoiled and stopped at another key level. At such....
A repeat transaction to Binance of 125 million USDT sees one trader follow suit into Bitcoin, with BTC/USD yet to react at the Wall Street open. Bitcoin (BTC) could be set for a repeat of this week's run to weekly highs after Blockchain protocol Terra appeared set to buy another $125 million of BTC.A wallet thought to belong to Terra but not officially confirmed to be under its control sent another 125 million Tether (USDT) to Binance on March 23.Rinse and repeat for 5.6% BTC price gains?The Bitcoin price narrative gained a new player this week after Terra co-founder Do Kwon let slip about....
Relief rally hopes rise as BTC price remains stuck inside the $34,000-$45,000 range. Bitcoin (BTC) looks poised to test the $43,000 level in March, according to a technical setup shared by Rekt Capital, a pseudonymous market analyst. BTC rebounds from solid 2022 supportBitcoin's drop toward $37,000 yesterday was met with modest buying sentiment, leading to a price rebound above $39,000 on March 8. Interestingly, the upside retracement move originated around the same upward sloping trendline serving as an accumulation zone for traders in 2022.Update after 2 months: Too many retail investors....
Back in March, live streaming company Streamin' Garage announced the world's first bitcoin-only game show, "Take My Bitcoins." Since then, the series has gone on to produce four episodes with between 18 and 19 BTC given away to participants to date. "Take My Bitcoins" is sponsored by ButterflyLabs, and uses bitcoins generated by the show's in-house mining rig for prizes. ButterflyLabs also contributes to each show's prize purse, which averages 4 BTC per show. Creator, host and executive producer Mike Rotman told CoinDesk that one of the major successes of the show has been the opportunity....
If BTC can flip $41,000 back to support, XRP, NEAR, XMR and WAVES could attract buyers. Bitcoin (BTC) plunged below $40,000 on March 4 and has been trading below the level throughout the weekend.Although the crypto price action has been volatile in the past few days, Glassnode data shows that institutional investors have been gradually accumulating Bitcoin through the Grayscale Bitcoin Trust (GBTC) shares since December 2021.Another positive sign has been that fund managers have not panicked and dumped their holdings in GBTC. This suggests that managers possibly are bullish in the long....