Bitcoin's price surged above its 50-week moving average near $81,041, reaching around $81,797 before settling near $81,400. This move places the cryptocurrency close to a critical resistance zone between $82,000 and $83,000, with $82,814 identified as a decisive level that could signal the end of the bearish trend if surpassed. The rally was supported by significant futures activity, including $84.74 billion in volume and $229.56 million in liquidations, mostly from short positions, indicating strong short-covering pressure. Traders will closely watch the weekly close to see if Bitcoin can hold above these levels, which would confirm a higher high and potentially mark a bullish market reversal.
JPMorgan highlights the importance of Bitcoin crossing the $85,000 mark, which represents the average production cost for miners. Bitcoin spent 280 days below this level, putting pressure on miners who may have had to sell reserves to cover costs. A ...
Bitget, a centralized crypto exchange, is suspected of being hacked after over $180 million was moved from its hot wallet, including the purchase of 7,111 ETH. This has raised significant security concerns about centralized exchanges and could increa...
Bitcoin's market value to realized value ratio (MVRV) has crossed above its one-year average, a signal previously seen at the start of the 2019 and 2023 bull markets, suggesting a potential recovery. This momentum shift comes as bitcoin briefly recla...
Bitcoin recently rose above its 365-day moving average for the first time in 310 days, a pattern that historically preceded significant 12-month gains in similar past instances. Analysts at Altcoin Pro highlight that the key bullish signal depends on...
Bitcoin's price remained around $84,000 after dropping sharply from $87,000, triggered by over $80 million in long position liquidations out of $110 million total. The price fluctuated between roughly $82,870 and $84,830, showing volatility but holdi...
