Two bitcoin wallets, possibly controlled by the same trader, closed a long position held for nearly two months, securing an $11.6 million profit as bitcoin surged from $58,000 to above $81,000. This exit coincided with a massive rally fueled by $225 million in short liquidations and optimism around U.S. Treasury bond buybacks signaling a new bull market. The move highlights profit-taking by large holders amid bitcoin's strongest quarter since 2021. Market watchers will closely monitor if the $80,000 level holds as support or if profit-taking pressures push prices down in the coming days.
Bitcoin traded near $79,771 after reaching an intraday high of $81,280 but failed to break decisively above the $82,000 resistance level. Veteran trader Peter Brandt disclosed a long Bitcoin position following a bullish inverse head-and-shoulders bre...
Veteran trader Peter Brandt revealed he remains long on Bitcoin even as the cryptocurrency struggles to break above the key resistance zone around $82,000. Bitcoin recently climbed above $80,000 but faced strong selling pressure, causing a pullback. ...
Grayscale's Zach Pandl highlights that the US Treasury's bond repurchases aim to ease pressure from soaring government debt, which recently surpassed $40 trillion. While these repurchases may reduce Treasury supply and stimulate the economy, they don...
Bitcoin surged above $80,000 following Nvidia's Q2 revenue of $96.2 billion, beating forecasts by $4 billion and boosting tech stocks. US spot Bitcoin ETFs saw $242 million in net inflows on August 27, marking nine straight days of gains and the stro...
The memecoin sector led gains last week with a 16% average return, second only to Layer 2 tokens. Bitcoin's 10% rise helped boost altcoin sentiment. SPX6900, a memecoin parody of the S&P500, soared 60% over the week, with Open Interest jumping nearly...
