Bitcoin jumped about $1,400 within an hour, pushing its price back above $78,000 due to a short squeeze that liquidated roughly $25 million in short positions and added around $30 billion to its market cap. This move brought Bitcoin to the upper end of its recent trading range between $75,000 and $80,000, sparking debate among traders whether this is a sustained breakout or a temporary spike. The rapid price action was driven by forced liquidations in thin order books, a pattern seen multiple times this quarter amid high leverage and market hype. While Bitcoin remains influential with a market cap over $1.5 trillion, the risk of price retracement remains once forced buying subsides, making aggressive shorting risky at current support levels.
Bitcoin recently rallied to $65,086, its highest close since late June, driven mainly by softer US inflation data that lowered expectations for Federal Reserve rate hikes. However, Bitfinex reports that this rally lacks sustained spot buying and depe...
Veteran trader Peter Brandt has identified a potential "inverted head and shoulders" bottom pattern in Bitcoin's price, suggesting a possible shift in momentum. However, he cautions that the pattern is unconventional and not yet confirmed. Meanwhile,...
Ethereum rose 3.17% to $1,923.53, outperforming Bitcoin's modest 0.18% gain to $64,588.87, signaling an early rotation toward large-cap altcoins. Despite this, overall market activity slowed, with declines in DeFi, stablecoin, and derivatives trading...
Ether has surged about 11% over the past week, outperforming other major cryptocurrencies like Bitcoin, which rose 4%. This rise is driven by $96 million inflows into U.S. spot ether ETFs, mainly BlackRock’s low-fee funds, while Grayscale’s higher-fe...
Bitcoin's price surged to nearly $65,000 following softer-than-expected U.S. inflation data for June, easing fears of Federal Reserve rate hikes. However, on-chain data reveals two main groups of investors—long-term holders who bought near last year'...
