Following the World Health Organization’s (WHO) declaration of a pandemic in March, central banks have continued to maintain near-zero interest rates. Analysts argue the rate cuts have not been “natural,” and over the long-term, some investors say it could positively affect Bitcoin.
In a column published by the Financial
The majority of traders on top Bitcoin futures exchanges appear to be leaning cautious on Bitcoin’s short-term price trend.
Long and short contract ratios across Bitcoin futures exchanges. Source: Bybt
Data released by cryptocurrency futures trading and information platform Bybt shows more than 50% of traders are shorting Bitcoin.
Bitcoin has been trading above $10,000 USD for around six weeks, demonstrating firm momentum and resilience. It has established the previous $10,500 USD peak achieved in February 2020 as a support level, maintaining an upward trend.
The current market structure is more favorable than previous price cycles because
Bitcoin has been trading above $10,000 USD for around six weeks, demonstrating firm momentum and resilience. It has established the previous $10,500 USD peak achieved in February 2020 as a support level, maintaining an upward trend.
The current market structure is more favorable than previous price cycles because
Following the World Health Organization’s (WHO) declaration of a pandemic in March, central banks have continued to maintain near-zero interest rates. Analysts argue the rate cuts have not been “natural,” and over the long-term, some investors say it could positively affect Bitcoin.
In a column published by the Financial
The majority of traders on top Bitcoin futures exchanges appear to be leaning cautious on Bitcoin’s short-term price trend.
Long and short contract ratios across Bitcoin futures exchanges. Source: Bybt
Data released by cryptocurrency futures trading and information platform Bybt shows more than 50% of traders are shorting Bitcoin.
The newly released minutes from the Federal Open Market Committee’s July 28 and 29th meeting has sent shockwaves through the global financial markets, not stopping at Bitcoin’s price action.
The overall tone of the meeting was grim, with committee members expressing concerns over how the ongoing pandemic may
According to the on-chain market analysis firm Glassnode, Bitcoin reserves on exchanges in August fell to a level unseen since June 2019. This indicates that retail investors are not intending to to sell their bitcoin.
When retail investors move to sell their bitcoin holdings, they typically send their funds to
According to data from the Commodity Futures Trading Commission (CFTC), hedge funds are net short the U.S. dollar for the first time in two years. The decline in demand for the dollar could benefit Bitcoin in the long term as it is increasingly perceived as a store of value.
Investment firm Grayscale’s assets under management surpassed $6 billion USD for the first time, the firm’s CEO Barry Silbert shared, showing a continuous increase in institutional demand for Bitcoin.
Grayscale operates various regulated publicly-traded investment vehicles that tailor to accredited and institutional investors.
The firm’s most widely-used
$71 billion USD banking giant Goldman Sachs anticipates the S&P 500 to surge 20% by the year’s end. Since April, Bitcoin and the S&P 500 have been seeing some correlation, and favorable market conditions could benefit Bitcoin’s long-term trajectory.
David Kostin, the chief U.
