Bitcoin and crypto assets are making a remarkable recovery today and markets are up almost $14 billion in under 24 hours.
Bitcoin Leading Crypto Markets
A few hours ago BTC started to move again, lifting off from its intraday low at support around $7,700. The move culminated in a top out at $8,250 according to Tradingview.com and a slight pullback has occurred over the past couple of hours.
The 7% surge has been extremely bullish for the rest of the crypto market as around $14 billion has been added to its total capitalization taking it to a seven-week high of $215 billion.
Since the beginning of the year, bitcoin and crypto asset markets have grown by 16% as technical signals are flipping bullish once again.
Altcoins are mostly in the green today with some pumping double digits but heavy resistance still looms ahead. Trader ‘Credible Crypto’ has eyed the chart patterns and sees nothing really bullish until these major resistance zones can be broken.
“Most coins are still under major resistance and have yet to prove themselves before we can say ‘the bottom is in’ …”
$ETH isn't the only coin that looks like this right now…most coins are still under major resistance and have yet to prove themselves before we can say "the bottom is in". I won't believe it till we start flipping some major resistance levels, until then this is just a dead cat. pic.twitter.com/R4VgXS2joN
— Credible Crypto (@CredibleCrypto) January 11, 2020
ETH Bears Keep Roaring
Ethereum has only managed a 4% gain on the day which has taken it above $140. The world’s second-largest crypto asset is still buried deep in a two-year bear market and still does not look strong enough to recover yet.
Despite huge momentum on Ethereum based Defi markets, and the release of ETH 2.0 Phase 0 specs, the asset remains in the digital doldrums where the price is concerned.
Ethereum needs to reclaim $150 and push higher before it can be considered bullish, until then the dead cat may well bounce as it has done so many times previously.
BSV Tulip Trust
The two altcoins on a roll at the moment are Bitcoin Cash which has surged 17% to top out at $275 and Bitcoin SV which has skyrocketed 40% to reach $170.
Recent developments in the ongoing legal battle between BSV protagonist Craig Wright, and the estate of his former business partner, the late David Kleiman have driven the momentum. A third ‘Tulip Trust’ document has been revealed alleging that there is another multi-billion dollar BTC fund owned by Wright.
BSV fans are hoping he will dump the BTC in favor of his own crypto coin which is pumping hard at the moment flipping EOS for seventh place.
Altcoin surges are nothing to get excited about any longer as in all probability they will be in the red again tomorrow.
Has the crypto altseason finally started? Add your thoughts below.
Images via Shutterstock, Coinmarketcap, Twitter: @CredibleCrypto The post appeared first on Bitcoinist.com. origin »
Bitcoin is trading steadily around $110,300 as markets consolidate. Traders have largely paused adding new risk after the recent Fed meeting. Bitcoin dominance has risen to approximately 60% of the total crypto market.
Bitcoin just reclaimed the $114,000 area on rate-cut optimism, with markets pricing an additional two cuts before the end of 2025. Liquidity continues to grow, and investors are back to taking risk.
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The post Prediction markets now give Bitcoin a 52% chance of reaching $100K in 2024 appeared first on Crypto Briefing.
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Most of the cryptocurrencies including the digital gold, Bitcoin (BTC), have been seeing a downtrend since Nov. 2021, when the markets were at their best and crypto hit an all-time high of $3 trillion.
After what has now been almost two quarters of an agonizing sell-off, markets seemed to have found solace with Bitcoin staying squarely atop the $28,000 level.
After this week’s catastrophic drop in the cryptocurrency market, Bitcoin has fallen around 24% over the past couple of days. The markets are completely frantic as regular investors continue to pull their money.
Bitcoin markets fell over -7% in the past day amidst a broader fallout in crypto markets and a surge in the Dollar Index (DXY), data from multiple sources shows.
The post 215k Bitcoin moved to ‘HODL’ wallets as asset recovers to $53,000 appeared first on CryptoSlate.
Cryptocurrency experts and enthusiasts often debate whether or not Bitcoin and the stock markets are correlated. One side says that Bitcoin is an independent asset with no dependence on the traditional financial sector.
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Since 2020, Bitcoin has rapidly been gaining mainstream adoption, especially from institutional investors. The collapse of oil markets into the negative territory, the unprecedented printing of fiat cThe post Bitcoin outperforms traditional stock markets appeared first on AMBCrypto.
Digital asset markets have started to recuperate this month with Bitcoin leading the charge, as it has done in previous recoveries. Industry analysts have envisioned this trend continuing, with BTC remaining in the driver’s seat for the wider cryptocurrency market.
Bitcoin just experienced its worst month since departing from its all-time highs 2 years ago, but still the leading crypto managed to outperform the US stock market in the first quarter of 2020. Global Pandemic Tears Markets Apart The financial markets were hit by the COVID pandemic that forced entire countries and industries to shut down.
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The crypto markets have continued sliding on the second day, with bitcoin (BTC) dropping below $6,000 amid a global market downturn caused by the gruesome coronavirus. The sell-off in the stock markets intensified after President Trump announced a 30-day suspension of travels from Europe to the United States starting from this Friday at midnight. Bitcoin, […]
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The aggregated crypto markets have been subjected to the volatility experienced by Bitcoin over the past several days, which has primarily favored bears. The recent market-wide downswing has led altcoins like Bitcoin Cash to shed some of their recent gains, although their market structures still remain firmly bullish.
The price of bitcoin has extended its losses to below 7000 levels as the gloomy sentiment has been looming the broader cryptocurrency markets. While the hype of the next BTC halving has been gradually building up as we are about to wrap up 2019, the seasonal pattern shows that BTC markets could be relatively calm.
Bitcoin lost billions of dollars worth of valuation within a 30-minutes timeframe as a Chinese cryptocurrency scammer allegedly liquidated its steal via over-the-counter markets. The initial sell-off by PlusToken caused a domino effect, causing mass liquidations.
Cryptocurrency markets are back in the red after yesterday’s meteoric rise. With some experts suggesting that yesterday’s rally was nothing more than a short squeeze, a retracement was to be expected.
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Now that the Bitcoin price has gone on an absolute tear, it will be interesting to see how all other markets evolve accordingly. So far, it seems things are heavily in favor of the world’s leading cryptocurrency, as alternative markets struggle to keep up.
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It has been a bearish week for the cryptocurrency market so far, with Bitcoin, Ether, and XRP all recording heavy losses over the last 24 hours. Bitcoin, the leading cryptocurrency by market cap, briefly dropped below the $86k level on Monday after losing nearly 4% of its value.
A crypto crash is happening today, with Bitcoin and top altcoins like Dogecoin (DOGE), Pi Network (PI), Cardano (ADA), Aster (ASTER), and Ondo (ONDO) falling by over 5%. The market cap of all tokens dropped by over 4% in the last 24 hours to $2.
BitMine's growing Ethereum holdings could influence market dynamics and regulatory perspectives, highlighting institutional crypto confidence.
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mETH Protocol launches a Buffer Pool using Aave’s ETH market to process ETH redemptions in about 24 hours, aiming to unlock institutional demand for liquid restaking. mETH Protocol, an Ethereum liquid restaking provider, announced a liquidity upgrade utilizing Aave’s ETH…
