Bitcoin Finds Support Despite Aggressive Spot Selling; Bull Case Grows
Bitcoin has faced some massive selling pressure throughout the past few days and weeks, with buyers losing their edge over the market as sellers target further downside This weakness caused the crypto to dip all the way down towards $30,000 this morning before it was able to find some serious support There’s a strong possibility […]
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After weeks of aggressive selling, YFI looks primed for a move to $60,000 before Bitcoin. Bitcoin (BTC) bears looked on in disbelief as BTC price rallied to over $57,800 on Feb. 21, sparking a major altcoin rally. It seems bull flags are being printed one after the other on coins like Polkadot and Cardano, which are playing out predictably. However, one coin that is not getting the limelight it deserves right now is Yearn.finance (YFI), and at present, it looks like a period of aggressive selling could be coming to an end with a potential 50% move to the upside being imminent. But first,....
Bitcoin’s price action has remained rather stagnant throughout the past couple of days, with bulls being unable to catalyze a break above $40,000 on the first attempt The selling pressure here remains quite significant, and whether or not this level can be firmly broken above could set the tone for its mid-term trend From a technical perspective, Bitcoin’s short-term outlook remains somewhat unclear, as it is currently moving lower despite bullishness amongst altcoins It may […]
Bitcoin spot reserves continue the recent trend of decline as values now stand at the lowest since October 2017. This shows the supply shock is tightening its grip. Bitcoin Supply Shock Narrative Grows Further As Spot Reserves Decline To October 2017 Levels As pointed out by a CryptoQuant post, BTC spot reserves have dropped down to lows not seen since October 2017. The spot reserves is a Bitcoin indicator that shows the total amount of coins held on wallets of all spot exchanges. When the value of the metric goes up, it means there is now an increase in the supply of BTC for selling and....
Ethereum has seen some lackluster price action throughout the past few days, which comes as Bitcoin leads the crypto market into a consolidation phase The crypto will likely continue seeing some sideways trading until BTC finds some clear directionality The pivotal level for ETH at the moment appears to be $600, as the selling pressure here has proven to be significant in the past Each break above this level has been short-lived and followed by […]
Bitcoin prices could undergo an aggressive bull run in the coming sessions, with their upside price targets lurking anywhere between $60,000 and $64,000.