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WBTC Growth Shows Ethereum Users Appreciate the Exposure to Bitcoin
The growth of wrapped BTC hit an all-time high in January before backtracking slightly this month. WBTC is essentially a receipt token for Bitcoin in the form of an Ethereum-based token, called ERC-20. Chart of the Day shows that users of Ethereum appreciate exposure to bitcoin. Christine Lee explains the data on “All About ETH.”
Bitcoin Traders Prepare for a Tumultuous March
New data by Glassnode shows bitcoin traders are getting ready to ride out a rocky month ahead. Traders are pricing in uncertainty via the derivatives market, but on-chain supply of the crypto remains stable indicating that the market is ready to “ride out the storm ahead.”
Bitcoin Holds Above $41K as Hashrate Surged to All-Time High
Bitcoin held above the $41,500 resistance level over the weekend after declining from $46,000 last week, and has shown strength this month after a dip to yearly lows of $33,000 in January.
Bitcoin Breaks Above $40K Resistance
New TradingView data reveals bitcoin crossed its 50-day moving average earlier this week at the $42,500 price level and has stayed above it since. Continuation of this price movement would imply strength and set bitcoin for a move toward $49,000 as it sees institutional demand.
BTC Breaks Through 2022 VWAP Over the Weekend
Bitcoin broke key resistance levels related to the “volume weighted average price,” or VWAP, a tool that calculates the average price a security has traded at throughout the day using both price and volume. Could bitcoin have room for further gains? “All About Bitcoin” host Christine Lee breaks down the Chart of the Day.
Crypto Fund Inflows Quadrupled Last Week to $85M, Follow Pickup in Market Sentiment
New data from CoinShares reveals inflows into crypto funds quadrupled last week to $85 million, a sign of positive sentiment among investors as bitcoin’s price climbed back above $40,000. “All About Bitcoin” host Christine Lee breaks down the Chart of the Day.
BTC Bounces Above $40K for First Time in 2 Weeks Despite Low Volumes
January’s spot trading volume for the crypto market across major exchanges reached their lowest level since December 2020. Still, bitcoin topped $40,000 for the first time in two weeks Friday after dipping. Is this an end to the bear market? “All About Bitcoin” host Christine Lee breaks down the Chart of the Day.
Bitcoin Turns Lower From Bearish Trendline, Support at $35.5K
Bitcoin is staring at a support level of $35,500 after failing to penetrate critical technical resistance connecting highs reached in November and January, according to CoinDesk’s Omkar Godbole. The next support level is around $33,000, the low reached on Jan. 24. “All About Bitcoin” host Christine Lee breaks down the Chart of the Day.
Bitcoin’s ‘MACD’ Indicator Threatens Long-Term Bullish Bias as Rate Hike Fears Linger
Bitcoin’s long-term bullish outlook is in danger of being invalidated on technical charts as BTC reels under selling pressure, stemming from adverse macro factors. Its monthly moving average convergence divergence (MACD) histogram has crossed below zero, a so-called sell signal, indicating a bullish-to-bearish trend change on the longer duration price chart.
Bitcoin Worth $670M Leaves Centralized Exchanges After Hawkish Fed Comments
Crypto investors seem to have stepped up bitcoin accumulation, shrugging off prospects of faster interest-rate hikes from the U.S. Federal Reserve. More than 18,000 bitcoin worth $670 million left centralized exchanges Thursday, registering the biggest single-day net outflow in over a month. “All About Bitcoin” host Christine Lee breaks down the Chart of the Day.