Data Shows: Bitcoin Traders Going Long, Blast Above $30,000 Looming?
Bitcoin continues to trade sideways during today’s trading session, holding the line draw for the past few weeks. Recent data shows that the cryptocurrency has been recording “crab-like” price action in the short term, but operators favor the long side of their trades. Related Reading: Why This Billionaire Continues To Advocate For Bitcoin Amid Surging US Debt? As of this writing, Bitcoin trades at $29,700 with a 0.7% loss in the last 24 hours and a 2% loss in the previous week. The cryptocurrency’s implied volatility has been trending to the downside while BTC’s price holds still at its....
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Data shows pro traders increased leveraged long positions even as the Bitcoin price traded in a tight range this week. Bitcoin (BTC) might have been ranging from $57,000 to $59,500 over the last couple of days, but the top traders at major exchanges have increased their long positions. A similar move also happened in the monthly futures contracts, as the basis rate has increased.Bitcoin price at Coinbase, USD. Source: TradingViewAfter marking a $61,750 all-time high on March 13, Bitcoin has been trying to find new support levels. Although BTC initially held ground at $54,000, there....
Evernode, the XRP Ledger (XRPL) Layer 2 platform, has shared a series of updates on its journey toward launch, offering insights into its progress and the challenges it has faced. XRP Ledger Layer 2 Platform Audit Scheduled For Mid-August Evernode is a Layer 2 platform that seeks to bring smart contracts to the XRP Ledger ecosystem via Hooks. The platform is being developed by a team of experienced developers working to enhance the XRP Ledger network with advanced functionalities. Related Reading: Data Shows: Bitcoin Traders Going Long, Blast Above $30,000 Looming? In the first update,....
As the week draws to a close, there have been some interesting turns in the price of bitcoin. The digital asset which had been struggling to hold the $20,000 had finally broken out of this funk and was able to make a rally to the mid $22,000s. This rally had naturally led to liquidations in the market and as time goes on, these liquidations ramped up with the volatility that has followed this price recovery. More Than 65,000 Traders Rekt As of Friday morning, data from Coinglass shows that more than 65,000 traders have been liquidated over the last 24 hours. The liquidations had surged....
On-chain data shows both the short-term and long-term Bitcoin Cash holders have entered into profits following the 13% rally. Bitcoin Cash Traders Return To Profits As Whales Ramp Up Activity According to data from the on-chain analytics firm Santiment, Bitcoin Cash traders who bought within the past 30 days, as well as those who did […]