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Bitcoin price closes in on $40K, but pro traders are still skeptical
The Bitcoin (BTC) daily price chart seems to be making a steady recovery pattern, but some concerning indicators are coming from derivatives markets. At the moment, the futures and options markets are showing a lack of confidence from Bitcoin pro traders, but there’s a positive spin to the data. Bitcoin price at Coinbase, USD. Source: TradingView The road to $40,000 seems uncomfortably predictable, and cryptocurrency traders usually call it “manipulation” when such price movements happen. If you #bitcoin around that region, just be careful. A picture speaks a thousands words and I think mine says it all. Make it or break it time around the corner for #btc. This weekend is weekly close & monthly close as well so expect volatility and manipulation.#Crypto pic.twitter.co...
Is the bottom in? Data shows Bitcoin derivatives entering the ‘capitulation’ zone
Analysts love to issue price predictions and it seems that 9 out of 10 times they are wrong. For example, how many times did analysts say “we will never see Bitcoin back at X price again,” only to see it plunge well below that level a few months later? It doesn’t matter how experienced a person is or how connected in the industry. Bitcoin’s (BTC) 55% volatility must be taken seriously and the impact this has on altcoins is usually stronger during capitulation-like movements. I was undeniably wrong about how much crypto could fall from macro contagion. I remain bullish on the space as a whole and think it is the most important mega-trend of our times. I joined CT during 2018 and I will be here with you guys in the coming yrs, bull or bear. — Zhu Su (@zhusu) Jan...
Bulls aim to turn the tide in Friday’s $580M options expiry after BTC tops $43K
Bitcoin (BTC) investors seem uncomfortable with adding positions after the most recent 40% correction from the $69,000 all-time high made on Nov. 10. In addition to the prolonged downtrend, remarks from the United States Federal Reserve on Dec. 15 about rising interest rates are also weighing on risk-on assets. The Fed signaled that it could raise its benchmark rate three times this year and there are plans to increase the pace of its asset purchasing taper. Consequently, traders are worried that these plans will negatively impact traditional and crypto markets because liquidity will no longer be “easily” available. Bitcoin price at Coinbase, USD (right) vs. China stock market MSCI index (left) Cryptoasset regulation in the U.S. has been in the spotlight and recently a member o...
2 key Bitcoin trading indicators suggest BTC is ready for a 62% upside move
Bitcoin (BTC) has been below $45,000 for 14 days and is currently 40% below the $69,000 all-time high. This movement holds similarities to late-September 2021, when Bitcoin price flat-lined for 11 days and was 36% below the previous $64,900 all-time high on April 14. Bitcoin price at Coinbase, USD. Source: TradingView To understand whether the current price momentum mimics late September, traders should start by analyzing the Bitcoin futures contracts premium, which is also known as “basis.” Unlike a perpetual contract, these fixed-calendar futures do not have a funding rate, so their price will differ vastly from regular spot exchanges. By measuring the expense gap between futures and the regular spot market, a trader can gauge the level of bullishness in the market. Excessive...
Bitcoin’s $6.1 billion options expiry was not enough to break the bearish sentiment
Bitcoin’s (BTC) price has been ranging between $46,000 and $52,000 for 26 days. Despite the large nominal $6.1 billion year-end options expiry, the bullish and bearish instruments were evenly balanced between $44,000 and $49,000. Therefore, it was no surprise that the $47,175 price at 8:00 am UTC on Dec. 31 brought little change to the price structure. Even the 3% rally to $48,500 following the event failed to sustain itself, signaling that bears are unwilling to cede their upper hand. Bitcoin/USD price on Coinbase. Source: TradingView Bulls might have interpreted the 9,925 BTC leaving Coinbase in 24 hours as a positive trigger, considering fewer coins are available on exchanges for newcomers. Besides, the first week of the year has been positive for the past four years, averaging 18...
Markets rally after FOMC meeting, but Bitcoin bears still have a short-term advantage
Bitcoin’s (BTC) price has been in a down-trend since the $69,000 all-time high on Nov. 10, when the the Labor report showed inflation pushing above 6.2% in the United States. While this news could be beneficial for non-inflationary assets, the VanEck physical Bitcoin exchange-traded fund (ETF) denial by the U.S. Securities and Exchange Commission (SEC) on Nov. 12 threw some investors off-guard. Bitcoin/USD price on Coinbase. Source: TradingView While the ETF request denial was generally expected, the reasons given by the regulator may be worrisome for some investors. The U.S. SEC cited the inability to avoid market manipulation on the broader Bitcoin market due to unregulated exchanges and heavy trading volume based on Tether’s (USDT) stablecoin. Analyzing the broader market st...
Manchester United, Chelsea jostle for £25 million Euro 2020 star
Manchester United and Chelsea have expressed interest in signing Denmark defender Joachim Andersen following his impressive performances at Euro 2020. Lyon centre-back Andersen, 25, featured in all three of Denmark’s knockout matches at the Euros, as Kasper Hjulmand’s side beat Wales and the Czech Republic before suffering a semi-final defeat to England. Having spent the 2019-20 season on loan at Fulham – and impressing for Scott Parker’s side despite the Cottagers’ relegation – Andersen is known to Premier League clubs. Despite returning to Lyon this summer, Andersen is expected to sign a permanent deal at an English club before next season, with a number of sides interested in securing his signature. The Sun say both Manchester United and Chelsea have identified the £25m star as a cheape...
Nacho extends Real Madrid contract to 2023
Real Madrid have extended Nacho’s contract through to the summer of 2023 as questions continue to be asked of Raphael Varane’s future at Santiago Bernabeu. A 31-year-old centre-half has agreed to prolong his association with the Blancos, with a home-grown talent remaining a one-club man. That is good news for Real as they are left sweating on the options that Carlo Ancelotti will have to pick from at the heart of his back four in 2021-22. A statement from the Blancos on their official website reads: “Real Madrid C. F. and Nacho Fernandez have reached an agreement to extend the player’s contract in a deal that ties him to the club for the next two seasons and until 30 June 2023.” Recommended Stories You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what ...
Danish players criticise decision to resume game after Christian Eriksen collapse
Denmark’s goalkeeper Kasper Schmeichel and striker Martin Braithwaite on Monday lamented that they had to choose whether to restart the Denmark-Finland Euro 2020 match while they were reeling from Christian Eriksen’s mid-game collapse. “We were put in a position, that I personally feel that we shouldn’t have been put in,” Schmeichel told Danish media at a press event in Helsingor north of Copenhagen. “We had two options,” Schmeichel explained. “Either come back the day after (Sunday) at noon or continue the game.” The Leicester City goalkeeper said he wished someone more senior would’ve said “that it wasn’t the time to take that decision, and that we should maybe wait until the day after to decide”. “What has happened has happened, and hopefully they’ll learn from this,” Schmeichel said, a...
France coach fires warning ahead of Euro 2020 opener
Didier Deschamps has attempted to play down the hype surrounding his France side going to the European Championship, warning those who think they “have already won” that plenty of hard work lies ahead. The 2018 World Cup winners are favourites to land this summer’s tournament, with Deschamps possessing a hugely talented squad with depth in all areas. That has understandably caused excitement among the supporters across the country, something Deschamps is keen to temper before the big kick-off. Asked whether not winning the tournament would be considered a failure given the talent at his disposal, Deschamps told Mundo Deportivo: “Right away there is talk of failure. We are world champions. I am aware, and the players are too, of our strengths. “We have quality, talent, high-level players, b...
IMF, World Bank urge G7 to release surplus vaccines
The heads of the International Monetary Fund and World Bank on Thursday urged the Group of Seven advanced economies to release any excess COVID-19 vaccines to developing countries as soon as possible, and called on manufacturers to ramp up production. In a joint statement to the G7, IMF Managing Director Kristalina Georgieva and World Bank President David Malpass also called on governments, pharmaceutical companies and groups involved in vaccine procurement to boost transparency about contracting, financing and deliveries. “Distributing vaccines more widely is both an urgent economic necessity and a moral imperative,” they said. “The coronavirus pandemic will not end until everyone has access to vaccines, including people in developing countries.” Malpass and Georgieva will meet in person ...
Danish players criticise decision to resume game after Christian Eriksen collapse
Denmark’s goalkeeper Kasper Schmeichel and striker Martin Braithwaite on Monday lamented that they had to choose whether to restart the Denmark-Finland Euro 2020 match while they were reeling from Christian Eriksen’s mid-game collapse. “We were put in a position, that I personally feel that we shouldn’t have been put in,” Schmeichel told Danish media at a press event in Helsingor north of Copenhagen. “We had two options,” Schmeichel explained. “Either come back the day after (Sunday) at noon or continue the game.” The Leicester City goalkeeper said he wished someone more senior would’ve said “that it wasn’t the time to take that decision, and that we should maybe wait until the day after to decide”. “What has happened has happened, and hopefully they’ll learn from this,” Schmeichel said, a...