BTC

Within the previous week, the dominance of Bitcoin over the cryptocurrency market has been steady despite its decline since the beginning of 2020. The dominance needs to reduce for altcoins to secure any kind of huge momentum that does not depend on Bitcoin. According to a renowned cryptocurrency analyst, this may soon happen, noting that the cryptocurrency market is now closer than ever to seeing altseason, which allows altcoins to record huge gains. In his explanation, three major factors support this outlook, and…

In recent times, the Bitcoin (BTC) markets incurred volatility that led to the liquidations of long and short positions which affected both buyers and sellers remarkably. It is such that there was about $223 million in 24-hour margin calls on BitMEX platform being evenly spread between Bitcoin shorts and longs. As at press time, long positions liquidated were worth somewhat more than $111.5 million, while short positions worth $111.3 million. Long positions represent 50.04 percent of the total liquidation, while…

The price of Ethereum has dipped by almost 80 percent from its lifetime high of $1.4k. This is due to the ICO bubble collapse and the history of a shift from altcoins to Bitcoins. However, by comparison, Bitcoin has only declined by 50 percent from its lifetime high of almost $20k. Numerous cryptocurrency market participants believe that Bitcoin will keep outperforming altcoins while a renowned investor is throwing his weight behind Ethereum. It is clear that the performance of Bitcoin…

Many people consider Bitcoin a store of value and they look for opportunities to buy when its price declines. This is one of the reasons it is called digital gold. Bitcoin is likewise hard money with a limited supply and despite being digital, it does not encounter the challenges faced by gold. The cryptocurrency is becoming scarcer every day even as its inflation has declined after the completion of its block reward halving. Additionally, hodlers’ attitude shows that they have…

It seems the revolution of cryptos and digital assets in the mainstream finance space is a disruptive force. Various flaws associated with traditional financial institutions and traditional forms of money were revealed during the economic troubles that ensued in 2008 and it appears that cryptocurrencies such as Bitcoin responded to them. Issues related to cryptos in the time of digital money were expatiated in a research paper published recently by Stanford Graduate School of Business. The paper also discussed whether or not regulatory bodies are necessary…

Get the weekly summary of cryptocurrency market trends, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $269 billion Bitcoin slumped to almost $8,700 but surged back to $9,500 over the weekend Ethereum is flying high on a 10% increase during the week XRP finally climbs above the $0.20 mark and stays there for more than a day Argentina defaults on $65 billion worth of foreign debt Crypto Trends 25th -…

Throughout the previous few weeks, analysts noted that BTC was eventually looking for a local top. Bitcoin has been rejected at $10k price range three times in the past few months. The rejections led to people’s reconsideration of their bullish stance on Bitcoin because this level is important. Market participants have been considering data from financial derivatives like futures and options to understand cryptocurrency price movements over the previous few months, as they keep providing crucial information. According to derivatives…

In the early hours of May 27, Bitcoin was able to move above $9k to attain $9.2k, after it spent some days below $9k price level. The move may seem small when it comes to percentage basis, but it has remarkable significance in terms of technical factors. The $9k level has since become a key technical and psychological level for Bitcoin. Bitcoin’s ability to surge above it once again presents some signals which suggest a possible rally above its monthly…

The most recent data has shown that Bitcoin (BTC) futures platform Bakkt is currently seeing the majority of its contracts settled in BTC, not cash. According to the provider of real-time data analytics for Bitcoin and Ether derivatives, Skew, the latest data on May 26 shows that Bakkt’s physically-settled Bitcoin Futures produced $34m, cash-settled Bitcoin Futures produced $9.3m and total open interest was $7.6m. Likewise, Bakkt’s physically-settled BTC Futures recorded a daily volume of $43m on the same day. The data shows that…