danielcawrey

danielcawrey

Bitcoin’s jump over $10,000 might compel selling in the alternative cryptocurrency, or altcoin, market, said Jack Tan of trading firm Kronos Research. “Unfortunately, this might actually suck the energy out of the altcoins and high flying DeFi tokens.” One asset to watch: The ETH/BTC pair Monday is down 4% on Coinbase as traders are selling ether for bitcoin on...

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Gold is on the brink of an all-time high, up 0.80% Friday, at $1,901 per ounce. Sweden-based over-the-counter bitcoin trader Henrik Kugelberg sees gold nearing its all-time high as a positive for the world’s oldest cryptocurrency. “Bitcoin will pass $20,000 in a surge. I suspect a new normal discounted bitcoin price will be around $15,000 in 2021, like it has been...

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The bitcoin market is still in bullish territory after yesterday’s move over $9,400, a price not seen in almost two weeks. “Bitcoin is flirting with its 50-day moving average, but has seen short-term momentum improve after having deteriorated as of mid-May,” said Katie Stockton, analyst at Fairlead Strategies.

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“Bitcoin might be waking up,” said Rupert Douglas, head of institutional sales at London-based crypto brokerage Koine. “A close above $9,600 would be a strong sign.” Gains in the equity markets appear to have been the catalyst for bitcoin’s positive trading day. “Bitcoin seems pretty correlated to equities at the moment,” Koine’s Douglas told CoinDesk. “The test...

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Holding on to $9,200 after a weekend in the $9,100 range is the best traders could hope for in a weaker-than-normal market for bitcoin. “After a brief consolidation in the region of $9,000, bitcoin began to adjust upward,” said Constantin Kogan, partner at cryptocurrency fund of funds BitBull Capital. “Now it is near the next important level at $9,200. If today’s...

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Wednesday’s Twitter hack didn’t seem to bother traders very much. “The attack may have harmed bitcoin’s public perception, but the fact that the market has hardly reacted is a positive sign,” said Rich Rosenblum, co-founder of New York-based trading firm GSR. Investors continued to buy in when bitcoin dipped to $9,000. The price headed that low in early Thursday...

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Traders seem to pine for the bitcoin volatility that was once the norm – and they expect it to return after what has been a lull. “Trading bitcoins is about as exciting as sitting in traffic,” said Jack Tan, founding partner of Taiwan-based quantitative firm Kronos Research. “I’m guessing bitcoin’s time will come in the next couple of months, but for now just...

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The price of bitcoin is stuck in the $9,200 price range as low volumes continue to plague the markets, said Katie Stockton, an analyst for Fairlead Strategies. “Bitcoin has been tethered to its 50-day moving average recently after having suffered a loss of short-term momentum in June.” Bitcoin’s 50-day moving average is around $9,240 as of Tuesday. Still,...

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“In recent trading sessions, bitcoin traded in a narrow range of $9,100-$9,200,” said Constantin Kogan, partner at cryptocurrency fund BitBull Capital. “After a short-term bullish impulse, the asset managed to peak at $9,300, followed by a downward correction.” Over the past few days, bitcoin has approached $9,320, only to see the price drop, Kogan noted. “The...

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The market at $9,200 per bitcoin erased gains earlier in the week when the world’s oldest cryptocurrency popped to $9,400 Wednesday. “Two days ago, bitcoin rallied 1.9% then dropped 2.1% and is now flat. Just another failed breakout,” said Elie Le Rest, partner at quantitative trading firm ExoAlpha. Still, traders buying when prices dip isn’t providing enough...

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Bitcoin is back at $9,200 Thursday as crypto derivatives helped push its price down and equities closed lower. Bitcoin (BTC) trading around $9,211 as of 20:00 UTC (4 p.m. ET), slipping 2.3% over the previous 24 hours. Bitcoin’s 24-hour range: $9,154-$9,469 BTC below 10-day and 50-day moving average, a bearish signal for market technicians. When stocks overall...

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Bitcoin's jump past $9,400 Wednesday came during a time of lower spot trading activity. Volumes have dipped since May on spot exchanges like Coinbase after a month of excitement due to bitcoin’s halving, its drop in programmed new supply. The average daily volume over the past three months on Coinbase, for example, is $133 million. In July so far, the daily...

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Over the past month, while market action has been relatively quiet, crypto traders have punched the buy button when bitcoin’s price drops below $9,000. “Bitcoin managed to approach the level of $9,300, after which immediately rolled back to the $9,250 area,” said Constantine Kogan, partner at cryptocurrency fund of funds BitBull Capital. “The coin continues to...

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“I’m quite bullish on bitcoin by this time next year,” said Neil Van Huis, of crypto liquidity provider Blockfills. “However, there could be a lot of whiplash in between. I guess that is the beauty of the markets.” Although bitcoin is up over 28% this year, it hasn’t exactly been a smooth ride in 2020.

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Bearish sentiment is affecting all markets today as investors appear to be de-risking, selling liquid assets for the safety of instruments like cash, said Neil Van Huis, director of institutional trading at cryptocurrency liquidity provider Blockfills. “Looks a little risk-offish on all risk assets across the board,” Indeed, major stock indices are all in the...

danielcawrey Updated 

The ether-bitcoin (ETH/BTC) trading pair is jumping to highs not seen since late May, which shows the strength ether is experiencing lately. This trading pair is available on almost all cryptocurrency exchanges and prices ether in terms of bitcoin – for example, 1 ETH currently equals 0.02528 BTC. It is a way for crypto traders to capitalize on price movements...

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Interestingly enough, bitcoin dominance is down from its 70.5% high in January 2020 and has flattened during June. This suggests a thesis that alternatives, such as assets on the Ethereum network, might be of greater interest to traders in June.

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Bitcoin and ether are soundly beating nearly all major global equities indices on the year. Of the two, ether is handily beating bitcoin’s price performance when the market is moving higher.