BTC price drops to fill Bitcoin futures gap as focus turns to $46.5K bull target
The latest CME futures gap is filled within hours on Monday, with an attractive gap nearer $50,000 providing a frame of reference for bulls. Bitcoin (BTC) traded at crucial support near $33,000 on Monday after a weekend of gains disappeared in hours. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin futures mark fresh price targetsData from Cointelegraph Markets Pro and TradingView showed BTC/USD reversing bullish performance at $35,900 to drop just over 5% on the day.The U-turn leaves Bitcoin firmly within its established trading range, with traders mindful of various....
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The price of Bitcoin achieved a new all-time high above $57,800 after a brief overnight correction. The price of Bitcoin (BTC) dipped to as low as $53,905 on Binance overnight, recording a sudden 6% drop. But despite the minor correction, the price of Bitcoin quickly recovered thereafter, reaching a new all-time high above $57,800 on Feb. 21.BTC/USDT 4-hour price chart (Binance). Source: TradingView.comWhy did Bitcoin drop and recover so quickly?Although Bitcoin saw a steep drop within merely hours, analysts pinpointed that it fell to the exact bottom of a short-term trendline.John Cho,....
Spot Bitcoin prices rallied toward $40,000 over the weekend but hinted at bullish exhaustion as CME Bitcoin futures opened Monday with a $1,500-plus gap. A run-up toward $40,000 in the Bitcoin (BTC) market risked exhaustion as Chicago Mercantile Exchange’s futures opened on Monday with a gap of $1,575, the first since May 17.In retrospect, the downside risks heightened due to Bitcoin’s recent bearish pullbacks near the $40,000 level. Atop that, the said CME gap formed between Friday’s close of $37,325 and Monday’s open of $38,900, raising possibilities that the next correction would prompt....
On January 4, 2020, the price of bitcoin slid to the lowest point of the year dropping from Sunday’s high of $33,800 per unit to $27,734 a few minutes after 5 a.m. (EST). In fact, the price dip filled CME Group’s large futures gap after the regulated exchange has seen six consecutive gaps since the run-up. Meanwhile, a number of other cryptocurrencies have seen significant gains and they did not drop as much as the leading crypto asset. Bitcoin (BTC) prices took a hit on Monday morning losing a total of -17.94% from 1:30 a.m. to 5:15 a.m. (EST). On Sunday, BTC’s daily....
The likelihood of another steep selloff for BTC is diminishing as more holders are accumulating, according to data from Santiment. The amount of Bitcoin (BTC) held on exchanges has been declining steadily since mid-May, offering reassurance that the worst of the market selloff has passed. At current levels, Bitcoin’s exchange supply is at its lowest level since early January, according to crypto analytics firm Santiment. “The 6-month low is a promising sign, as it generally will indicate that there is a decreased risk of more major $BTC selloffs,” the analytics firm tweeted Monday morning.....
While digital currency markets have increased significantly in value a number of crypto asset proponents are wondering how far the next bull run will take them. For instance, the last three bitcoin bull runs saw different price spikes and significant drops below 80% as well. If the next bitcoin bull run follows a similar pattern, it’s quite possible the crypto-asset could reach $160k per unit. At the time of publication, the cryptocurrency economy is well above a half of a trillion dollars and is hovering at $538 billion today. The great 2020 crypto price boom has a number of crypto....