The crypto market has continued extending its long-held consolidation phase, with this sideways trading largely coming about as a result of Bitcoin’s lack of momentum
Analysts are now noting that it may persist further in the near-term, as there are no immediate catalysts for momentum
One factor that could lend itself towards shifting this trend is the expiry of 60% of all Bitcoin options next week
Close to $1 billion in contracts are expiring on June 26th, and options traders with influence over the market may be incentivized to spark a trend in one direction or another
That being said, compared to the margin and futures market, options still comprise only a small percentage of the crypto’s total outstanding open interest.
Bitcoin and the aggregated cryptocurrency market have once again extended their long-held bout of sideways trading. BTC did experience some slight volatility overnight when it rallied to $9,400 before being pushed down to lows of $9,100.
From this point, it has recovered most of these losses, but buyers do seem to be growing increasingly weak as it continues ranging sideways.
The expiration of over $1 billion worth of Bitcoin options contracts could be a catalyst for imminent volatility, however one research firm is questioning just how impactful this event will be on the market.
Bitcoin’s Consolidation Persists, but This Could Soon Come to an End
At the time of writing, Bitcoin is trading down just over 1% at its current price of $9,290. This marks a slight decline from daily highs of nearly $9,500. It also marks a rebound from recent lows of $9,100.
Over the past several days, it has been stable around $9,400. The overnight decline that led it down to its current levels seems to point towards some underlying weakness amongst buyers.
Its consolidation range is still intact as long as buyers are able to maintain its price above the upper-$8,000 region.
The imminent expiration of Bitcoin’s monthly and quarterly options contracts on June 26th is one event that could trigger a trend-defining movement.
Arcane Research spoke about this in a recent report, saying:
“Close to $1 billion bitcoin options contracts will expire on Jun 26, accounting for 60% of the total open interest in the BTC options market. In situations like this, there could be significant financial incentives to move the spot price towards a certain level before the expire date.”
Image Courtesy of Arcane Research
The Options Market Still Remains Small, Signaling That it May Lack Influence
It is important to keep in mind that Bitcoin’s options volume only accounts for 1% of that seen by BTC futures and spot trading.
That being said, Arcane Research believes that the event may not have any meaningful impact on the market.
“A price move going into the expiry next week will then likely be driven by the spot or futures market, and not changes in the open interest in the options market.”
Featured image from Shutterstock. origin »
Since Donald Trump’s election victory on November 5, Bitcoin (BTC) has experienced a substantial rally, reaching record highs above $108,000. However, this momentum has recently faltered, with the cryptocurrency dropping below the critical $100,000 mark, This has prompted analysts to speculate on a potential deeper correction with some experts believing Bitcoin could dip to levels around $85,000 or even $75,000 before resuming its upward trajectory.
Bitcoin’s price prospects look promising after its recent notable upside momentum above the $100,000 pivotal milestone. This prompts a broader bullish outlook for the cryptocurrency asset to surge significantly in the upcoming weeks to unprecedented levels as the market gradually regains its uptrend.
Bitcoin’s price sharply declined nearly 2% on the 1-hour chart, falling below $95,000, deviating from its recent upward momentum toward the $100,000 milestone. Data from CryptoSlate shows that Bitcoin reached a low of $94,824 before recovering to $96,007 at the time of writing.
After experiencing a brief correction from its new yearly high of $35,300, Bitcoin (BTC), the leading cryptocurrency in the market, is showing signs of renewed bullish momentum. As the digital asset approaches the $35,000 mark again, a key indicator is following patterns observed in 2020, suggesting a potential surge that could propel Bitcoin to reclaim its previous peak of $65,000.
Bitcoin might not be able to observe any extended runs of bullish momentum until this on-chain indicator reverses its trend. Stablecoin Whale Supply Has Dropped To Lowest In Six Months During the past few days, Bitcoin has registered some rise and has managed to breach the $27,000 level.
Bitcoin showed reduced wallet growth and declining mean transaction sizes.
Traders have turned bearish, and implied volatility has decreased, suggesting a period of caution in the market.
BiThe post Is Bitcoin losing its momentum? appeared first on AMBCrypto.
Bitcoin price has managed to power through and retain its momentum above the $23,000 mark. Over the past week, the coin displayed bullish momentum. In the last 24 hours, Bitcoin showed minor appreciation, however, it has remained steady above its local support level.
Bitcoin (BTC) price momentum has weakened over the past month, which suggests the current trading range could persist into next week. Upside appears to be limited.
Bitcoin is one of the biggest store of value assets existing at the moment. Naturally, it also becomes the point of focus for the majority. While in most cases such attention would be for the better oThe post Is Bitcoin losing market traction or gaining momentum? appeared first on AMBCrypto.
Bitcoin has seen some massive momentum throughout the past few days, with the cryptocurrency’s price rallying to new highs over $30,000 as its uptrend turns parabolic Where the cryptocurrency trends in the mid-term will undoubtedly depend on whether or not bulls can maintain full control of the crypto’s upswing or if it will post a […]
Bitcoin’s price has seen some significant momentum throughout the past few days The cryptocurrency is currently trading at the highest price it has been at since before the summer rally came to an end This momentum appears to be the result of a confluence of different factors, including growing BTC adoption amongst corporations Just today, PayPal announced that they are planning to rollout cryptocurrency buying, selling, and storage features to all of their users Bitcoin, […]
Bitcoin’s price action has grown stagnant over the past few days and weeks, with the cryptocurrency struggling to gain momentum as bulls and bears battle for control of its near-term trend. Last week, the benchmark digital asset incurred some serious momentum after news broke regarding Square’s acquisition of $50 million worth of BTC. This news […]
Bitcoin’s price action has been fairly boring in recent weeks, with it establishing a wide trading range between $10,200 and $11,200.
The post Analytics firm: Bitcoin investor sentiment reaches 2-year low as momentum stalls appeared first on CryptoSlate.
After a few days of sideways trading, it seems that Bitcoin bulls have roused and are pushing BTC towards $12,000 again. The current price of Bitcoin is around $11,697 with positive momentum. On the daily chart, the first-ranked digital asset is not facing a lot of resistance until $12,123, but of course, the $12,000 psychological […]
The crypto market is heading into the weekend without any clear momentum, as the past week has been relatively quiet for Bitcoin Many altcoins are still maintaining their firm upwards momentum, although this appears to be slowing down as investors grow more concerned about where Bitcoin may trend next There are four factors that one analyst is closely observing that could provide BTC with better guidance in the near-term This comes as the cryptocurrency continues […]
Bitcoin is flashing some tempered signs of strength right now as it attempts to push up towards $9,300. This comes after an extended period of trading at $9,100 and seems to mark an extension of the momentum that the crypto first incurred when it bounced from its recent lows of $8,900 last week. This momentum […]
After a surge in its price post-halving, Bitcoin's valuation slowed down over the course of the past 24-hours. This bullish momentum was still evident in the market, at press time, but the king coin'sThe post Bitcoin, Monero dip slightly as DASH gains a bit of momentum appeared first on AMBCrypto.
Bitcoin (BTC) has been caught in a firm uptrend over the past several days, which has primarily been the result of the massive upwards momentum that was sparked when it tapped lows of $6,400 earlier last week.
Coinspeaker Uncertainty Looms as Bitcoin Records near Term Bullish Momentum to $7,400After reaching a price level of $ 7340. 59 after the opening, the Bitcoin market was able to reverse during the session as the bears took control.
Bitcoin has been able to extend the upwards momentum that it has incurred over the past day, which has allowed it to gain what appears to be a solid foothold within the mid-$8,000 region. This foothold may allow bulls to begin pushing the cryptocurrency higher, although it is important to note that BTC is still.
Overnight Bitcoin (BTC) was able to incur a significant amount of upwards momentum that sent it shooting past its previously established resistance level around $10,800, and any extension of this upwards momentum is highly likely to send the crypto into the $11,000 region in the very near-future.
Save for news that Bitcoin (BTC) news publication CCN is shutting its doors, Monday was quiet for the crypto industry. But, BTC rallied anyway, quickly rushing past $7,800 and $8,000 in rapid succession during the wee hours of Monday morning.
Jeez… Bitcoin Hasn’t Stopped Yet Call us a broken record, but wow, Bitcoin (BTC) has been on an absolute tear. As of the time of writing this, the asset has just tapped $7,100 for the.
Woobull. com, a provider crypto asset market, and network data has added new charts to its Bitcoin price, momentum, volume, and volatility platform. Bitcoin Price Building ‘Momentum’ The news was originally announced in a tweet by Willy Woo, market analyst and founder of Woobull.
It doesn’t happen all that often all of the leading cryptocurrencies are in the green across the board. Both the one-hour and 24-hour changes look incredibly promising as of right now. This positive momentum is pushing the Bitcoin Cash price toward $800 once again, which shows there is a lot of positive momentum looming ahead. […]
As cryptocurrency and blockchain continue to attract new investment, more institutional capital and regulatory oversight pervade the global markets. In light of recent developments, cryptocurrency prices are showing signs of gaining positive momentum.
Welcome traders and investors, to your weekly price update on bitcoin and gold. At the time of writing, bitcoin is trading at $6,490. It has recently retreated from the $6,600 region, which it had been trying to...
Bitcoin – Bullish Momentum Builds
Bitcoin has recovered nearly 13% after scraping its knees on a new 2018 low, but is the current uptick in momentum just a relief rally or the makings of a bullish reversal? The general outlook for Bitcoin remains overwhelmingly bearish as the cryptocurrency is roughly 70% down from it’s all-time-high and most long-term indicators remain
Bitcoin has recovered nearly 13% after scraping its knees on a new 2018 low, but is the current uptick in momentum just a relief rally or the makings of a bullish reversal? Market Overview After scraping the bottom of the barrel last week, Bitcoin appears to have mustered enough short-term momentum to attempt a bull reversal but, at the time of this writing, this is yet to be determined.
While some investors are confident about the long-term growth of the crypto market, the fact remains that the current price has not yet recovered from the big correction in January. The market, which started to pick up in April, failed to sustain its upward momentum and peaked in early May before going downhill once more.
The ongoing “luck of the draw” for all cryptocurrency markets seems to hold up quite well. Although a few currencies have suffered from minor losses, the Bitcoin price is still in the green.
Bitcoin Price Key Highlights Bitcoin price has broken above the double bottom neckline and bullish flag to signal upside momentum. Price is forming another bullish flag pattern, which might signal a continuation of the climb.
Key Points Bitcoin cash price traded further higher and broke the $750 resistance zone against the US Dollar. Yesterday’s highlighted declining channel was broken with resistance near $735 on the hourly chart of the BCH/USD pair (data feed from Kraken).
Octagon Strategy, one of Asia’s largest digital asset brokerages, remains bullish on Bitcoin despite the recent downward trajectory that pushed the price below the $6,000 barrier last Friday.
BCH/USD Medium-term Trend: Bearish Supply zones: $900, $950, $1000 Demand zones: $600, $550, $500 Bitcoin Cash continues in bearish trend in the medium term. The pullback by the bulls that occurred over the weekend pushed the cryptocurrency to $745.
Bitcoin sits precariously perched at the bottom of the annual market low and many bitcoin investors aren’t sure what to make of it. However, something to note about this bearish close is the lack of volume and lack of momentum on the follow through.
Bitcoin sits precariously perched at the bottom of the annual market low and many bitcoin investors aren’t sure what to make of it. Although the market seems to be continuing its drift to new lows with greater and greater ease, there are a couple of bullish signals worth considering while the market continues to consolidate: Figure 1: BTC-USD, Daily Candles, New Market LowOn Friday, June 29, 2018, for the first time this year, the daily candles closed below the annual low of $6,000s.
As was to be expected, the weekend has brought some much-needed relief to all cryptocurrency markets. Although these gains can still be wiped out fairly quickly, the Bitcoin Cash price enjoys a brief spell of positive momentum.
Bitcoin Price Key Highlights Bitcoin price was previously consolidating in an ascending triangle pattern before breaking lower. This suggests that further losses are in the cards, especially as a small bearish flag is forming.
Key Points Bitcoin cash price moved a few points above $700, but it failed to gain momentum against the US Dollar. This week’s highlighted important bearish trend line was broken with resistance at $708 on the hourly chart of the BCH/USD pair (data feed from Kraken).
While the cryptocurrency market is constantly showing high volatility, the prices of various coins which were on the bearish side have been gaining the momentum back. On 24th June, Bitcoin [BTC], was trading at its monthly low of $5826 has bounced back to $6167 today.
The cryptocurrency boom in December 2017 and January 2018 injected cryptocurrencies into the mainstream. Popular news outlets were flooded with news about the price of Bitcoin, yes, whilst Bitcoin did see some impressive momentum, other cryptocurrencies such as Ripple XRP actually managed to make more of an impact, despite only moving up to a value of $3.
After a slightly positive day yesterday, the markets have reset themselves on a steep negative trajectory once more. Of course, we didn’t see yesterdays progress as a sign of recovery, however we did assume that this positive momentum may have lasted a little longer than just a morning.
Bitcoin price extended losses and traded below the $95,000 zone. BTC is showing bearish signs and might decline heavily below the $92,000 level. Bitcoin started a fresh decline below the $95,000 zone.
Bitcoin price extended losses and traded below the $100,000 zone. BTC is showing bearish signs and might continue to move down toward the $91,200 support zone. Bitcoin started a fresh decline from the $100,000 resistance zone.
Bitcoin price extended losses and traded below the $100,000 zone. BTC is struggling and might continue to move down toward the $92,000 support zone. Bitcoin started a fresh decline from the $102,000 resistance zone.
Bitcoin price started another decline below the $105,000 zone. BTC is down nearly 5% and attempting a close below the $100,000 support zone. Bitcoin started a fresh decline from the $108,000 resistance zone.
Bitcoin price started another increase above the $106,000 resistance zone. BTC traded to a new all-time high above $108,000 and is currently correcting gains. Bitcoin started a fresh surge above the $106,000 zone.
Bitcoin price struggled to clear the $102,000 resistance zone. BTC is correcting gains and might test the $97,500 support zone. Bitcoin started a downside correction from the $102,000 zone. The price is trading above $98,000 and the 100 hourly Simple moving average.
Elon Musk’s crypto investments have soared to staggering new heights, with the combined Bitcoin holdings of Tesla and SpaceX reaching an estimated value of $2 billion.
