Crypto Markets Analysis: While bullish and bearish narratives collide, how much $BTC is being held on exchanges may provide the most telling clues on how confident investors are a price rise will continue. GWilliamsJr_CMT reports
Bitcoin breaching $30,000 for the first time in 10 months answers questions about its resiliency while broaching new questions about its ability to hold its price at higher levels.
Hourly volume implies conviction behind the move higher as it has largely surpassed its 20-day moving average. Daily volume appears poised to do the same. A bullish narrative is the Federal Open Market Committee will slow interest rate cuts later this year. But there appears to be a bearish divergence between bitcoin's price and its momentum, particularly if measuring since January. BTC has risen 45% since Jan. 14, but its 14-day Relative Strength Index has fallen 19%.Given the contradiction of narratives, traders may ultimately turn to what is happening with BTC balances on exchanges.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ripple Case Ruling Might Prove to Be Crypto's Biggest Week, John Deaton SaysPro-Ripple lawyer predicts XRP-SEC lawsuit ruling might be crypto's biggest week ever XRPArmy XRPHolders XRPCommunity XRP $XRP
Read more »
Bitcoin Approaches $30K, Reaching Highest Price Since JuneBitcoin surged past $29.3K for the first time since last June, jumping about 4% over an hour-long period Monday. Investors now await the March Consumer Price Index on Wednesday to see if inflation has continued to wane. JPRubin23 writes
Read more »
Bitcoin Breaks Above $30K for First Time Since June 2022Bitcoin has surged past $30,000 for the first time since June, a move that has now seen the most popular crypto gain more than 80% year-to-date. JPRubin23 reports
Read more »
Bitcoin hits $30K to mark highest price since June 2022Bitcoin has finally hit $30,000 marking both the highest price in 10 months and a new high for 2023.
Read more »
Bitcoin Shorts Take on 87% of Futures Liquidations as BTC Crosses $30KStrength from bitcoin pushed the asset over the crucial $30,000 level for the first time since June 2022, causing heavy losses to traders betting on a decline. By shauryamalwa.
Read more »
Crypto Markets Gain $60B as Bitcoin Explodes Above $30K (Market Watch)Solana has skyrocketed the most from the larger-cap alts, adding 10% of value daily.
Read more »