Bitcoin surged past the $74,000 resistance level, approaching the key $75,000 mark, driven by a large short squeeze that forced traders betting against it to close positions, accelerating the price rise. This event wiped out over $175 million in short positions across Bitcoin, Ethereum, and Solana, reducing sell pressure and boosting bullish momentum. The rally has also positively impacted major altcoins like XRP, Solana, and Ethereum, signaling renewed investor confidence in the crypto market. However, geopolitical risks like the Hormuz Shock could still pose downside threats despite the current strong market structure.
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'...
