OKEx Promises Secure Private Key Backups

Key Takeaways OKEx has published new rules on how it will manage the private keys of its multi-signature crypto wallets.  The exchange’s wallet keys will be backed up, but stored in isolation to prevent abuse of privileges. The decision is a response to OKEx’s October key loss. Share this article OKEx CEO Jay Hao has announced that the exchange is making its fund storage methods more secure. Hao broadcast his statement on Telegram, which was later posted to OKEx’s website. OKEx Responds to October Incident On Oct. 16, OKex announced…

Bitcoin adoption is the main key right now, Novogratz says

Mike Novogratz, CEO of financial services firm Galaxy Digital, recently expressed his usual bullish Bitcoin sentiments on CNBC’s Squawk Box morning show. During the short segment, the show’s interviewer asked Novogratz about Bitcoin (BTC) in relation to gold. He noted that big players are seemingly buying crypto after selling their gold investments, with gold recently seeing an all-time high level of outflow. “I think it’s meaningful but it’s not the real story,” Novogratz said on Tuesday morning. “The real story is adoption of Bitcoin, adoption of crypto, across a vast variety of accounts,”…

4 key indicators reflect extreme optimism from pro Bitcoin traders

Most investors that follow Bitcoin will have recently heard about the growing impact Bitcoin (BTC) futures and options markets have on Bitcoin price. The same can be said for the price swings caused by liquidations at OKEx and Huobi exchanges. Considering that derivatives markets are now playing a much bigger role in Bitcoin price fluctuations, it is becoming increasingly necessary to review some of the key metrics professional traders use to gauge activity in the markets. While reviewing futures and options contracts can be quite complicated, the average retail trader…

XRP price now eyeing $1.00 after key support level holds, BTC price soars

While Bitcoin (BTC) is facing a potential new all-time high, other coins are showing strength as well. One of those coins is XRP, which has been going vertical in the previous weeks.  XRP’s price surged from $0.22 to a high of $0.78 during the month of November, which immediately ended up in a massive correction towards $0.45. Let’s take a look at the XRP price charts to determine whether this was an entry opportunity before the next leg up. The crucial zone around $0.45 holds as support XRP/USDT 1-day chart.…

Ripple (XRP) Retreats Sharply, $0.50 Is The Key For Next Increase

Ripple retested the $0.7500 resistance level before a sharp decline against the US Dollar, similar to bitcoin and ETH. XRP price is holding the $0.5500 support, but it might even test $0.5000. Ripple started a strong downside correction after it failed to clear $0.7500 against the US dollar. The price broke the $0.6000 support, but it is still well above the 100 simple moving average (4-hours). There was a break below a key contracting triangle with support near $0.6465 on the 4-hours chart of the XRP/USD pair (data source from…

Bitcoin Correcting Gains, Key Resistance Turned Support Nearby

Bitcoin price broke to the upside and traded close to $19,500 against the US Dollar. BTC is currently correcting gains, but the previous resistance near $18,800 could provide support. Bitcoin traded above the $18,700 and $18,800 resistance levels before correcting lower. The price traded close to the $19,500 level and settled above the 100 hourly simple moving average. There is a major bullish trend line forming with support near $18,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase as…

Chainlink May Soon Set New All-Time Highs Once It Breaks This Key Level

Chainlink has been incredibly strong over the past few days, fully exposed to the upside seen across the aggregated cryptocurrency market as bulls take full control. Its price has surmounted multiple key resistance levels that have slowed its ascent in the past, and it is now only a stone’s throw away from setting fresh all-time highs. The cryptocurrency is facing some intense resistance within the lower-$16.00 region, as each attempt to break above this zone has resulted in it seeing massive inflows of selling pressure. If it remains trapped below…

Key Bitcoin and Ethereum options metrics show traders are wildly bullish

In the last few days, Bitcoin (BTC) price has underperformed Ether (ETH) by almost 20%. Even though BTC seems to be struggling to break the $18,800 barrier, both cryptocurrencies display the same bullishness according to derivatives markets data. BTC/USD and ETH/USD at Bitstamp. Source: Digital Assets Data Ether is entering a parabolic rally as its Eth2 network launch progresses, and this optimism is reflected in the options markets. Despite the lack of similar price action from BTC, Bitcoin traders seem unfazed, and data shows they are still wildly bullish. Futures…

Key Bitcoin price metric shows pro traders are nervous about $19K BTC

This week Bitcoin (BTC) price rallied to a new 3 year high at $18,965, leading investors to believe a new all-time high above $20,000 is on the cards.  While these are exciting times, data does show that some professional investors feel antsy about the price at these levels and the absence of retail FOMO has some calling for a sharp pullback. Data shows Bitcoin hasn’t seen a drop larger than 5% since Sept. 4 and over the past 77 days the digital asset has gained 84%.The last time similar price…

Ethereum Struggles Below $485, Why 100 SMA Is The Key

Ethereum rallied close to $495, but it failed to test $500 against the US Dollar. ETH price is currently correcting gains (similar to bitcoin) and showing bearish signs below $485. Ethereum is correcting lower and trading below the key $485 pivot level. The price is holding the main $470 support level and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $474 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline sharply if there is a clear…