Bitcoin Finds Rejection At This Historical Line, Bear Market Back On?
On-chain data shows Bitcoin has failed in its latest retest of a historically significant metric, a sign that a bearish trend might have taken over. Bitcoin Has Been Rejected From The Short-Term Holder Cost Basis As pointed out by an analyst in a post on X, BTC is currently facing resistance at the short-term holder’s realized price. The “realized price” here refers to the cost basis or acquisition price of the average investor in the Bitcoin market. When the spot price of the cryptocurrency is below this level, it means that the investors as a whole are currently in a....
Related News
Taking to X on October 12, Zoran Kole, a trader, said reasonable bids for Bitcoin stand at around $17,000 and $18,000. Though Kole didn’t provide timelines for retraining these levels, the prediction means the coin could slide 35% to around December 2022 territory if the prediction comes true. Will BTC Drop To December 2022 Levels? The position the trader takes appears contrarian and opposes every optimistic preview laid out by bulls. Bitcoin finds itself in a precarious position and is primarily bearish at spot rates. Looking at the daily chart, the coin is down approximately 17%....
Data shows the Bitcoin drop below the $27,000 level has made most investors fearful for the first time this month. Bitcoin Fear & Greed Index Is Pointing At “Fear” Right Now The “fear and greed index” is an indicator that tells us about the general sentiment among investors in the Bitcoin and broader cryptocurrency market. Alternative created the metric, and according to the website, it’s based on these factors: volatility, trading volume, social media sentiment, market cap dominance, and Google Trends data. The indicator uses a numeric scale from zero to....
Bitcoin price has returned to $450 after retesting this week’s low. Local support is holding and the market has, so far, avoided additional lows. Price fell back to Tuesday’s lows, overnight, but snapped back to the vicinity of $450 during today’s trade. Despite the rejection from upside resistance, price remains in an upward trajectory, as illustrated by the rising channel lines annotated in grey. Since the late-April low, the price chart has printed a series of higher lows. The potential decline targets described in this week’s previous analysis posts, will only become applicable if....
Data shows that Dogecoin transactions have dropped more than 98% since June, a sign that investors have lost interest in the meme coin. Dogecoin 7-Day Transaction Count Has Dropped To Just 37,300 According to data from the market intelligence platform IntoTheBlock, activity on the DOGE network has really slowed down recently. The metric of interest here is the total number of transactions that the Dogecoin blockchain is observing every day. When this indicator has a high value, it means that the investors are making a large amount of moves on the network right now. Such a trend implies....
Bitcoin has had a big week this past week. With the new all-time highs and the VanEck Spot ETF rejection, it is interesting to see how the market has reacted to these. VanEck had filed its ETF with the SEC and on Friday, it got back the dreaded rejection. The reason given for the rejection […]