Bitcoin Breaks $30K, But Could Price Entrap Late Longs?
Bitcoin has been trading in the green over the past 24 hours as traditional markets see an overall recovery. The number one crypto by market cap experienced an increase in selling pressure over the past month as macro-economic conditions favored a decline in risk-on assets. Related Reading | Bitcoin On-Chain Data Signals A Long Squeeze Brewing In Futures Market At the time of writing, Bitcoin trades at $31,200 with a 7% profit in the last 24-hours. Data from Material Indicators (MI) suggest support for Bitcoin below its current levels at lower timeframes. This could support bulls....
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Longs have been paying the price since early December, data shows, in a sign that accompanied a market reversal several times last year. Bitcoin (BTC) has dealt significant pain to bulls in recent weeks, and now, fresh data shows just how much.In a tweet on Jan. 10, on-chain analytics firm Glassnode revealed that those longing BTC had suffered a rerun of last May, when BTC/USD began to fall toward $30,000.Long traders fail to “catch the knife”According to Glassnode’s Longs Liquidations Dominance metric, the “majority” of liquidations over the new year involved longs.This is unsurprising,....
After dropping below $100,000 earlier this month, Bitcoin has faced sluggish price movement with little upward momentum. Over the past week, the asset has just ranged below this six-digit mark with its price now hovering above $96,000 as of today. This sideways movement reflects a lack of significant momentum and has left many traders questioning what might spark the next major move. Related Reading: Bitcoin’s Bull Cycle: Analyst Says The Upside Isn’t Over Yet Late Longs Liquidated: The Impact Despite the lack of a breakthrough, Bitcoin’s price behavior continues to attract the attention....
The Bitcoin price is once again trading above $20,000, its 2017 all-time high, with bullish momentum on low timeframes. The cryptocurrency has been in a similar situation since losing this level early in 2022, leaving many traders to wonder if the bulls will be able to sustain the current price action. Related Reading: Thorchain Shows A Glimpse Of Hope, Are The Green Days Near? At the time of writing, the Bitcoin price trades at $20,100 with a 4% profit in the last 24 hours and a 5% profit in the last 7 days, respectively. Other cryptocurrencies in the top 10 by market capitalization are....
The bitcoin price fell below the landmark $200 point at 07:24 (GMT) today, putting it back into territory not seen since late 2013. Within five minutes of crossing that threshold it had plunged further to $185. Less than 15 minutes after that, it fell to $179.13. The latter price is significant as it lies just below 1,000 Chinese yuan, the currency involved in 65% of bitcoin trades, possibly crossing a lesser-acknowledged psychological barrier. At press time, the price had rebounded somewhat to $205.54. Gox-like prices. The last time the bitcoin price crossed the $200 line was in late....
Over the past two weeks, the demand for Bitcoin has significantly increased due to global financial market instability, major economic changes and currency devaluation. Analysts state that once Bitcoin breaks the $790-800 region, it will quickly head towards a four figure price. The demonetization of 500 and 1,000 bank notes in India, the devaluation of the Chinese yuan, the crackdown on Chinese wealth management products (WMPs) and the election of Donald Trump, among many other factors, has led to the price of Bitcoin to escalate quite rapidly. On Oct. 22, Bitcoin was being traded at....