On-Chain Clues Suggest Bitcoin Bounce Might Be a False Signal—Here’s What to ...
Bitcoin has shown signs of stabilization following its earlier correction this month, which saw the asset fall to as low as $74,000. Over the past week, Bitcoin has rebounded strongly, gaining nearly 10%, and now trades above $84,000. This upward movement has reignited optimism among investors, though some analysts remain cautious about calling this a definitive trend reversal. Related Reading: Bitcoin’s Last Drawdown To $74,000 A ‘Healthy Correction’ — Analyst Says Bull Cycle Is Still On Apparent Demand Shows Recovery, But Trend Reversal Uncertain According to recent on-chain data, the....
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Ethereum has undergone a strong bounce since the lows seen in September. As of this article’s writing, the coin trades for $372, around 20% above those lows. The cryptocurrency is about the set a weekly close above the $365-370 resistance. Despite this strong bounce in the price of Ethereum, on-chain metrics show that the blockchain is currently weakening. Fortunately, the leading cryptocurrency has positive fundamental and technical trends that may result in growth in the […]
Bitcoin has pulled back $10,000 from highs set earlier in the year, and according to on-chain data, it is due to extreme profit taking from early investors and miners. Here’s what past bull markets suggest about the current sell off and if this is an opportunity to “buy the dip,” or if the top is in. Bitcoin Bull Market Correction Is Here, According To On-Chain Data After rising from $3,800 to over $40,000 in less […]
Bitcoin price could be due for a triangle breakout this week as there are top-tier catalysts on deck. Bitcoin Price Key Highlights. Bitcoin price is still stuck inside its symmetrical triangle consolidation pattern on the 4-hour time frame. Price is hovering close to the support around $450 for now, still deciding whether to make a bounce or break. A bounce could lead to a test of resistance at $455 while a breakdown could trigger a longer-term downtrend for bitcoin. Technical Indicators Signals. The 100 SMA is above the 200 SMA on the 4-hour time frame so a bounce seems more likely.....
Bitcoin has bounced back from a high area of around $20,000 and managed to break some important resistance on its bounce, it still faces many hurdles. At the time of writing, BTC trades at $34,129 with a 14.1% profit in the daily chart. Despite the bounce, many argued that the conditions in the market remain […]
Here’s what futures market data could suggest about whether this latest Bitcoin recovery will be a dead-cat bounce or not. Bitcoin Futures Market Shows No Signs Of Overheating So Far As explained by an analyst in a CryptoQuant Quicktake post, the BTC funding rate has stabilized around a relatively low value recently. The “funding rate” […]