Bitcoin News

Bitcoin Price Consolidates, Why Recovery Could Be Capped

Bitcoin extended its losses below the $21,000 support level against the US Dollar. BTC is consolidating and any rallies could face hurdles near $21,500. Bitcoin remained in bearish territory and traded below $21,000. The price is now trading below the $21,500 level and the 100 hourly simple moving average. There is a major bearish trend …

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Bitcoin Bounces Off Historic “Mayer Multiple” Bottom Zone

The data shows that the bitcoin price broke above the 0.55 Mayer Multiple level, below which the cryptocurrency has historically formed bottoms. Bitcoin has now left the region below the 0.55-myr multi According to the latest weekly report from glassBTC price escaped above the Mayer Multiple bottom area. The “Meyer multiple“It is an indicator that …

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Crypto Market Holds The Line On “Dull” Earnings Week Start

The general sentiment in the cryptocurrency market appears to be turning bearish as Bitcoin and Ethereum posted losses during today’s trading session. The two largest cryptocurrencies by market capitalization are still posting some gains on higher time frames, but they seem to be preparing for a shady week. Related reading | Bitcoin Puell Several Lifts …

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Bitcoin Puell Multiple Lifts Off From Buy Zone, Bull Momentum To Follow?

On-chain data shows that the Bitcoin multiplier has begun to leave its “buy” territory, an indication that the cryptocurrency may be heading for bullish momentum. Bitcoin Puell Multiple has gone up in value in recent days As pointed out by an analyst at CryptoQuant MailThe BTC puell multiplier is currently breaking through the historical buy …

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Bitcoin Price At Clear Risk of Sharp Drop, Indicators Turn Red

Bitcoin has started a new decline from the $23,000 resistance level against the US Dollar. BTC is dropping and is still at risk of a sharp drop below $21,800. Bitcoin started a bearish correction and traded below the $22,200 level. The price is now trading below the $22,500 level and the 100 hourly simple moving …

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Bitcoin Funding Rate Remains Positive, More Decline Soon?

Cross-chain data shows that Bitcoin’s funding rate remains at a relatively high positive value, which indicates that the cryptocurrency may see a further decline in the near term. Bitcoin funding rate has been at a positive value for the past few days As pointed out by an analyst at CryptoQuant Mailthe current funding rate indicates …

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Rumors Of MicroStrategy Selling Bitcoin Grow With Tesla’s Disclosure

Bitcoin and the cryptocurrency market lost momentum in the last 24 hours after suffering a rally. Yesterday, Elon Musk-led automaker Tesla announced that it has sold 75% of its BTC holdings to convert it into fiat currency. Related reading | Cardano (ADA), after up 35%, is holding on to the next target: $0.55 This has …

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Bitcoin NUPL Shows Average Holder Back In Profit, But For How Long?

On-chain data shows that the Bitcoin NUPL metric has returned to a positive value, indicating that the market as a whole is back in profit. Bitcoin NUPL recent trend could indicate bottom is already in place As one analyst pointed out in a CryptoQuant post, a BTC NUPL breakout above the neutral market could be …

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