Bitcoin Stalls Near $75K As Traders Move Coins To Exchanges
A key price level is giving Bitcoin trouble — and on-chain data may explain why. Related Reading: XRP Moves Into ‘Scarce Zone’ As Exchange Supply Dries Up Realized Price Puts A Ceiling On The Rally The $75,000 mark is not just a round number for Bitcoin traders. It sits at the lower band of what analysts call the “traders’ on-chain Realized Price” — a metric that tracks the average price at which active market participants last moved their coins. According to CryptoQuant head of research Julio Moreno, that band has historically acted as a ceiling during bear markets, and....
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As bitcoin trades in a range, traders are studying the "Grayscale premium" and watching traditional markets for clues to the next market move.
Whale wallets quietly shifted to buying mode over the past two weeks — even as the broader crypto market absorbed one of its worst single-day liquidation events in recent memory. Related Reading: Bitcoin Stalls Near $75K As Traders Move Coins To Exchanges A Massive Options Expiry Freezes The Price Friday’s settlement of Deribit’s March options contracts has effectively put Bitcoin on hold. The expiry involves 24,838 contracts with a combined notional value of $1.72 billion, and BTC has landed squarely at the $70,000 strike — the exact level known as “max pain,”....
For six straight weeks, Bitcoin was losing the battle against gold. That streak has now reversed — and it has held for two weeks running, with Bitcoin up more than 4% against the precious metal this week alone. Related Reading: Bitcoin Stalls Near $75K As Traders Move Coins To Exchanges A Parallel Decline Reshapes The Debate The timing of that rebound is striking, given that both assets are deep in correction territory right now. Bitcoin dropped from a weekly high of $76,000 to below $70,000, a slide of roughly 8.7%. Gold fared no better, shedding 8.5% in the same period, pushing the price....
One of the world's largest Bitcoin exchanges, OKCoin, has just announced yet another service they will be adding for their Bitcoin traders - futures. Futures allow for traders to hedge their risk when dealing with high levels of volatility, which is one of the largest challenges Bitcoin faces at this time. Futures trading is something offered on most stock brokerage service such as E*Trade or TDM Ameritrade, and is now coming to the Bitcoin arena. OKCoin's futures trading allows traders to "lock in" future prices to buy their coins. Futures are legally binding agreements between two....
Crypto trading platforms in South Korea are delisting certain digital currencies as they move to comply with stricter rules for the industry. The trading of some high-risk coins has been either halted or completely suspended on several Korean exchanges this week. South Korean Exchanges Wipe Trading Lists of Risky Digital Assets Trying to meet Seoul’s tougher new rules for the cryptocurrency sector, Korean exchanges are now purging their trading lists of high-risk assets. According to a report by Arirang, a number of crypto trading platforms have temporarily halted or ended the....