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“# Top 5 cryptocurrencies to watch this week: BTC, ETH, BNB, XMR, CAKE ” Corrections in a bull phase are usually a bullish sign as they reduce the frothy excitement and allow stronger hands to enter the markets. However, the recent correction in Bitcoin (BTC) from its all-time high at $64,849.27 does not seem to…
“# Bitcoin dominance teeters at 50% as ETH, altcoins gain traction ” Bitcoin (BTC) dominance briefly fell below 50% last week for the first time since January 2018, sending a strong signal that more speculative bets on altcoins was on the rise. The Bitcoin dominance index, which measures BTC’s market capitalization relative to the broader…
“# DEX volumes continue to surge even as Bitcoin and altcoins correct ” Decentralized finance (DeFi) started 2021 by taking the cryptocurrency sector by storm and helping to kick the bull market cycle into high gear as traders capitalized on ways to easily trade cryptocurrencies and earn high yields on their hodl stacks. Eventually, high…
“# New altcoin era? Dogecoin liquidations briefly surpass Bitcoin ” Dogecoin (DOGE) saw more liquidations than Bitcoin (BTC) at one point on April 24. This shows there is a significantly high demand for trading the meme cryptocurrency even as Bitcoin and Ether (ETH) struggle to recover. Various trends and metrics, such as social volume, trading…
“# Bitcoin funding rate flips negative after $48K retest — Was it a bear trap? ” As Bitcoin (BTC) lost the $52,000 support on April 22, the futures contracts funding rate entered negative terrain. This uncommon situation causes the shorts, investors betting on price downside, to pay fees every eight hours. While the rate itself…
“# PlanB speculates that BTC price fall doesn’t mean the end ” Bitcoin’s (BTC) price has declined over the past day or so, falling from highs above $60,000 to below $50,000. That, however, does not necessarily mean the asset’s bull run is over, according to a well-known crypto analyst, PlanB. “Nothing goes up in a…
“# Pros say Bitcoin’s ‘very healthy’ correction ‘builds ground for more stable growth’ ” Bitcoin and the wider cryptocurrency market took a beating in the late hours of April 22 and intense selling saw (BTC) price dip below $48,000 in a move that came as a relief to quant analysts like PlanB who were worried that the price…
“# Price analysis 4/23: BTC, ETH, BNB, XRP, DOGE, ADA, DOT, UNI, LTC, BCH ” As Bitcoin price crashed below $50,000, mainstream media highlighted that the selling across the market could have been triggered by reports that the Biden administration proposed increasing the capital gains tax to 39.6% from the current 20% for people earning…
“# Bitcoin is not an inflation hedge, Bitcoin skeptic claims ” Untied to any single government or country, Bitcoin is often labeled as a store of value asset and a hedge against other areas of finance. Nassim Taleb, a former risk analyst and author, thinks otherwise, however. In an interview with CNBC on Friday, after…
“# 5 reasons Bitcoin and Ethereum plummeted 15% in a single day ” The price of Bitcoin (BTC) and Ether (ETH) fell by 15% and 20%, respectively, on April 23 as the cryptocurrency market became engulfed in a major correction. Five factors likely caused the price of Bitcoin and Ether to steeply drop in a…