Here are the Key Technical Factors that Could Determine Bitcoin’s Future

Bitcoin is currently caught within a consolidation phase following its intense decline from highs of $11,200 last week. The cryptocurrency has been drifting lower ever since, but bulls were able to defend against it seeing any serious downside earlier today when they propelled it off of its $10,200 lows. The rebound here was significant and seemed to elucidate some underlying strength amongst the cryptocurrency’s buyers. That being said, it has not been able to find any strong momentum in the near-term, and its outlook remains in limbo as bulls and…

Bitcoin’s realized cap is now $43 billion above the 2017 all-time high

Crypto market data aggregator Glassnode has published data indicating that Bitcoin’s (BTC) realized capitalization has increased by more than 50% since tagging its all-time high of $20,000 at the end of 2017. The realized capitalization metric measures the value of each BTC when it was last moved on-chain, which enables analysts to estimate the aggregate cost-basis of market participants. However, coins on centralized exchanges are absent from the metric, indicating the data is probably more accurate in terms of the cost-basis of long-term investors rather than intra-day speculators. Bitcoin’s realized…

How Bitcoin’s 2020 High Compares To Past Bull Market “Tops”

Bitcoin price suffered a powerful correction from the 2020 high of $12,400, taking the crypto asset back below $10,000 briefly. After a short-lived dead-cat bounce to $11,200, Bitcoin price is back once again at $10,500 and trying to hold. Although the correction has been steep, the selloff closely resembles the last bull market’s most violent tops. And while sentiment has swiftly shifted bearish, if history repeats, buying even the scariest dips will be incredibly rewarding. Crypto Bull Market Tops Match Current Price Action Despite Bearish Sentiment Shift In a bull…

How BTC Held On Exchanges Matches Bitcoin’s Deadliest Drop Yet

Several signs indicate that Bitcoin is potentially on the brink of a new bull market, and much higher prices are ahead. However, one seemingly bullish sign that investors are preparing for mark up, is actually at the same level as just prior to the collapse to the cryptocurrency’s bottom. Are looks this deceiving, and Bitcoin is about to take a similar plunge once again? Or is this potentially bullish signal the first real indication that the bull run is here? Investors Move BTC Off Of Crypto Exchanges At Hastening Rates…

Indicator Shows Bitcoin’s Selloff May be Running Out of Steam

It has been a rocky past day for Bitcoin, with the benchmark crypto posting massive losses as buyers struggle to garner significant momentum. This selling pressure has sent shockwaves throughout the entire cryptocurrency market, causing altcoins to see massive selloffs that have erased the bulk of their recent gains. One trader is specifically noting that the cryptocurrency could be on the cusp of seeing its ongoing selloff come to an end, however, as one indicator points to slowing downside momentum. That being said, the declining delta seems to indicate that…

Bitcoin’s Weekly Candle Just Closed—And We’re In the “Middle of Nowhere”

Just an hour ago, Bitcoin’s weekly candle closed after an eventual week in which the leading cryptocurrency surged from lows near $10,000 to a local high at $11,150. The coin now trades at $10,950 as of this article’s writing, slightly above the ~$10,850 weekly close. The cryptocurrency, while above the pivotal $10,000 technical and psychological support level, is purportedly still in the middle of nowhere on a macro time frame. Bitcoin will need to move above local range highs or lows to confirm a trend. Related Reading: Ethereum Transaction Fees…

Critical On-Chain Signal Predicts That Bitcoin’s Next Move Will Be Upward

As many analysts predicted, Bitcoin was cleanly rejected in the low-$11,000s on Wednesday due to a cluster of resistance in that region. $11,000 is a price point that BTC bounced off multiple times during last month’s consolidation. Critical on-chain data, though, predicts that the leading cryptocurrency is poised to move higher in the medium term. This adds to the bullish long-term perspective imposed by other on-chain data points. Related Reading: Here’s Why This Crypto CEO Thinks BTC Soon Hits $15,000 Bitcoin Could Soon Surge Upward: Here’s Why One cryptocurrency trader recently…

Here’s Why Altcoins Are “In Trouble” Despite Bitcoin’s Bullish Behavior

Bitcoin price today smashed back above $11,000 and is attempting to hold currently. The incredibly bullish price action following a retest of resistance turned support could have given bulls the confidence to push the crypto asset’s price much higher. But as bullish momentum builds in Bitcoin, altcoins have turned bearish. According to one crypto analyst, alts are “in trouble” no matter which direction the first-ever cryptocurrency heads next. Analyst: Bitcoin Is Bullish But Is Ready To ‘Rekt’ Alts Whatever Route It Takes Bitcoin has been the best-performing mainstream asset of…

Here’s the Pivotal Level Where Bitcoin’s Ongoing 10% Surge May End

Bitcoin is surging despite weakness in the altcoin market. Since bottoming at $9,800 last week, the coin has gained $1,000 and over 10% as its price has reached $10,850 as of this article’s writing. Earlier today, the coin traded as high as $10,900 as buyers stepped in, seemingly responding to MicroStrategy purchasing over 10,000 coins. The leading cryptocurrency’s rally may soon end, though. Analysts in the space are currently eyeing $11,000-11,200 as a potential region where Bitcoin’s ongoing move higher will come to a stop. This does not take away…

World’s largest banks lost 3x Bitcoin’s market cap during the pandemic

Since the outbreak of COVID-19, the world’s 14 largest banks have lost $635.33 billion in market capitalization. This is more than three times the current market capitalization of Bitcoin (BTC) and almost double the capitalization of all cryptocurrencies. Market capitalization of the world’s biggest banks. Source: Buy Shares. The starting point for this data is December 19. For reference, Bitcoin’s market cap at the time was $130 billion. As the world was entering the pandemic induced recession, six of the banks on the list had a market cap higher than…