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Soaring Sell Orders Contrast Sharply with Bitcoin’s Renewed Bull Run
Alongside the cryptocurrency’s meteoric climb over the back half of 2020 and early 2021, a curious phenomenon has unfolded; heightened profit-taking and conversion to fiat currencies. Data collected by Simplex, a fiat-crypto gateway, underscores this seemingly paradoxical development. A Curious Race to Convert Crypto to Fiat Has Accompanied Bitcoin’s Latest Drive Higher Sharing exclusive data with Bitcoin.com, Simplex cofounder and chief analytics officer Netanel Kabala says: While the international press coverage of Bitcoin’s rally has caused a swathe of new users to....
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Despite the weekend, the price of Bitcoin has seen volatility within the past 12 hours as stacked sell orders at $16,500 likely caused the drop. The price of Bitcoin (BTC) has seen volatility within the past 12 hours. The top cryptocurrency fell from $16,400 to $15,750 within hours, rejecting sharply after surpassing the $16,000 resistance earlier this week.As of Nov. 14, the 20-day moving average of Bitcoin on the daily chart is at $14,600. In the near term, if a pullback occurs, the $14.6K level remains a favorable area for buyers.An algorithmic trader known as “CryptoGainz” explained....
Bitcoin prices are up $100 on the day, having already shot past the $1,100 mark. Markets have risen nearly 10% over the course of the day’s trading, according to data from the CoinDesk Bitcoin Price Index (BPI), which hit a high of $1,141 at time of writing before falling back. With the move, global exchange averages have inched closer to the BPI's all-time high of $1,165.89, set on 30th November, 2013, leaving them roughly $25 below that level. The digital currency's price appreciated sharply after crossing the $1,100 line, quickly spiking to a high of $1,129.28, before meeting some....
There's no shortage of demand for Bitcoin, even at $50,000, as big buyers dwarf smallholders in the latest stage of the bull run. Bitcoin (BTC) whales and institutions alike have made the most of the recent BTC price "dip" by buying big, data suggests.In an update on March 9, on-chain analytics service Material Indicators noted that buy orders of $100,000 and higher on Binance — the biggest cryptocurrency exchange by volume worldwide — are reaching all-time highs.Big Bitcoin buyers don't hesitateIn stark contrast to orders worth less than $100,000, larger buys are more frequent than ever....
Bitcoin prices appear to be encountering some resistance near $1,300. Order books on digital currency exchange Bitfinex show a rise in the amount of sell orders closer to that level, according to figures provided by BFX DATA. As of roughly 22:15 UTC, that increase can be seen in sell orders starting slightly below $1,280. Bitfinex sell orders accounted for more than 90% of all orders in the hour leading up to this time. However, buy orders maintained a very slim majority in the 24 hours before 22:15 UTC, making up 51.3% of all orders placed during this time. The exchange constitutes....
The price of Bitcoin has achieved another new all-time high but it is struggling to break past $30,000. The price of Bitcoin (BTC) has reached a new all-time high above $29,400 across major exchanges on Jan. 1. In other words, BTC is just 2% away from reaching the psychological resistance level at $30,000.Breaking $30,000 could fuel renewed confidence in the market with the last remaining technical roadblock right below this level. BTC/USDT 4-hour price chart (Binance). Source: TradingView.comHence, in the near term, sellers would look to defend the $30,000 resistance level with stacked....