Bitcoin Ready For Fireworks? Long Positions See Uptick This 4th Of July
Bitcoin seems to be forming a new range around its current levels as the cryptocurrency moves between the $18,600 and $21,000 area. BTC’s price has seen some recovery during today’s trading session and might experience some volatility due to the U.S. Independence Day, July 4th. Related Reading | Solana (SOL) Stuck Below $33 In Past Days As Bearish Pressure Still Intact At the time of writing, Bitcoin trades at $19,500 with a 4% profit in the last 24 hours. Data from analyst Ali Martinez indicates an increase in Bitcoin holdings from addresses with 100 to 10,000 BTC. These whales have....
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Derivatives data shows Bitcoin whales added to their leveraged positions after BTC price topped out at $42,600. Bitcoin (BTC) might have failed to sustain the $42,000 support, and for many, this is a slightly bearish sign. Interestingly, the downward move occurred shortly after Saudi Aramco, KSA's largest oil exporter, denied claiming to start mining Bitcoin.Top traders at exchanges seized the opportunity to add leverage-long positions, a clear bullishness indicator. Furthermore, margin traders have been increasing their stablecoin borrowing, indicating that whales and professional traders....
Discover the intricacies of short and long positions in crypto trading. These principles can be applied by both new and experienced traders. How can margin trading amplify the targets of long and short positions?Margin trading can magnify the potential results of long and short positions thanks to leverage — i.e., borrowed funds.Going long or short might be lucrative, especially when the cryptocurrency is volatile. Still, professional traders prefer margin trading, as they can amplify potential profits by several times. However, the risks also increase by the same degree, which is why....
Bitcoin has undergone another massive leg higher over the past day. After bottoming at $12,800 yesterday, the cryptocurrency has surged higher towards $13,800. The coin currently trades for $13,700 as it attempts to stabilize after the daily candle close. Analysts are getting ready for fireworks as Bitcoin nears the pivotal $14,000 resistance level. $14,000 has […]
The transparency blockchain provides lets fundamental analysts see when whales are loading up on Bitcoin, but it can’t tell when technicals take a turn. However, whale behavior might still be the key to understanding price action. Right now, whales on the long-standing crypto exchange Bitfinex have amassed one of the largest collective long positions ever. […]
Data shows around 300k in ETHUSD long positions have been closed on the Bitfinex Ethereum futures market, something that could provide impedance to the latest rally. Ethereum Long Positions Have Dropped By More Than 300k During The Last Few Days On Bitfinex As pointed out by an analyst in a CryptoQuant post, the past data of the ETHUSD long positions on the crypto exchange Bitfinex would suggest the current pattern may prove to be bearish for the value of the coin. The relevant metric here is the total number of Ethereum long positions (ETHUSD pair) currently open on the Bitfinex exchange.....