Price analysis

Bitcoin (BTC) is attempting to break above the psychologically critical level at $50,000 and close the year on a strong note. The up-move in Bitcoin has led to a sharp recovery in the value of the Crypto Fear & Greed Index from 27 to 45 within a day, signaling improving sentiment. BlockFi co-founder Flori Marquez said in a recent interview that new talent, regulatory clarity and higher crypto prices could lead to a feeling of FOMO, boosting crypto adoption in 2022. Marquez added that the “majority of Blockfi’s clients—when they receive a BTC reward, they’re not selling that for cash.” Daily cryptocurrency market performance. Source: Coin360 In another positive news that could boost crypto adoption further, popular internet browser Opera announced an integration with Polygon (MATIC), ex...

Bitcoin (BTC) continues to lose ground in December, a signal that traders may be locking in their gains before the end of the year. The lack of a Santa rally in the U.S. equity markets indicates that the risk-off sentiment prevails due to the uncertainty regarding the spread of the COVID-19 omicron variant in several parts of the world. Even after the sharp drop in Bitcoin’s price, the demand from institutional investors remains tepid, and data shows that the largest institutional Bitcoin product, the Grayscale Bitcoin Trust (GBTC), is trading at a discount of more than 20%. Daily cryptocurrency market performance. Source: Coin360 Veteran trader Peter Brandt said that “high volume panic capitulations” usually signal a bottom in Bitcoin and that has not yet happened during the current decli...