Bitcoin is approaching the critical $60,000 level, a key support tied to institutional cost bases and derivatives hedging. If it falls below this threshold, it could trigger mechanical selling by market makers and forced liquidations of leveraged long positions, potentially accelerating the decline. This level is crucial because many institutions bought Bitcoin between $60,000 and $67,000, and a drop below $60,000 would increase unrealized losses, prompting rushed selling amid competing market rallies like AI stocks. The derivatives market also poses risks, as over $1.2 billion in put options at the $60,000 strike could force market makers to sell Bitcoin to hedge, deepening the selloff.
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'...
