The U.S. dollar has been heavily shorted since early October in hopes for a so-called dovish Fed pivot and looks ripe for a short squeeze, a move higher driven by unwinding of bearish positions. Bitcoin tends to move in the opposite direction of the dollar. origin »
Bets that the dollar will continue to decline have become a popular trade in recent days. Due to the worldwide economic woes, short positions against the dollar have grown substantially over the past four months, leading some to believe that positions could be squeezed.
VeChain (VEN) has just broken out of a falling wedge against the US Dollar as can be seen on the VEN/USD daily chat above. The price has yet to test the bottom of the descending channel it has been trading in since the beginning of the year.
Bitcoin price, after hitting resistance above $97,000, has cooled to trade slightly above $95,500. BTC is trading at $95,699 as of 2:01 a.m. EST, with [...]
The Ethereum price has surged 7% in the last 24 hours to trade at $3,392, as BitMine Immersion Technology makes a $200 million equity investment in [...]
Bitcoin price broke out of a two-month consolidation to reach a high of around $97,704 on Wednesday. The world’s largest cryptocurrency was up 1.7% on [...]
Bitcoin price crossed above the $94,000 psychological resistance to top $95,000 with an intraday high of around $95,804, just shy of $96,000. BTC is up [...]
The Bitcoin price is still capped below $92,000, as investors hold steady ahead of what US Securities and Exchange Commission (SEC) Chair Paul Atkins says [...]