FLOW prices slipped on Thursday as traders unwind their bullish bets from the lately bullish digital assets. The FLOW/USDT exchange rate lost up to 15.22% New York morning, a sharp reversal from Wednesday when the pair closed at a one-month high of $16.99 following a 43.87% rally. However, it continued its upside momentum in the early Asia-Pacific session, hitting $18.44 before correcting lower. Thursday's selloff in the FLOW market was broad-based and came in sync with a massive downside correction in the cryptocurrency market. For instance, Bitcoin, the flagship cryptocurrency that typically influences its digital asset rivals, plunged more than …

Bitcoin’s (BTC) price looks poised to retest $30,000 as traders continued to pull back from upside bets on a spell of a bearish technical pattern. Dubbed as a Symmetrical Triangle, the structure forms when an asset fluctuates between two converging trendlines. In doing so, the asset rebounds after testing the Triangle’s lower trendline as support and pulls back upon treating the upper trendline as resistance. Eventually, it breaks out of the range, in the direction of its previous trend, and falls by as much as the maximum distance between Triangle’s upper and lower trendline. Why $30,000? Bitcoin was trending inside …

As Bitcoin (BTC) continues trading sideways inside the $30,000–$40,000 range, new data is emerging about the potential for a bullish breakout. Is Bitcoin silently readying for a breakout like in Q4 2020? Willy Woo, an on-chain analyst, anticipates a potential supply shock in the Bitcoin market, as long-term holders continued raking BTC supply from short-term ones. Woo stated in his Friday newsletter that the process might push more Bitcoin out of circulation. The analyst referred to the ratio of Bitcoin held by strong hands versus weak hands — also known as Bitcoin Supply Ratio — noting that the former is …

Aave hovered near its three-week high on Tuesday, helped by the prospects of its foray into the mainstream through the launch of an institutional lending platform. Fundamentals Dubbed as Aave Pro, the platform expects to become a “permissioned liquidity protocol” by offering institutions, corporates and fintech clients access to decentralized finance (DeFi). That said, it would follow strict regulations while onboarding participants, ensuring that their Ethereum addresses are safe-listed following a thorough Know Your Customer process. “We will have different kinds of permissioned markets so that DeFi will be more layered and tailored to specific needs,” Stani Kulechov, founder and …

Ether (ETH) could rise by almost 40% against Bitcoin (BTC) in the coming trading sessions, according to one analyst. So believes Michaël van de Poppe, an Amsterdam-based market analyst who predicts that the ETH/BTC exchange rate will climb from its current 0.05–0.06 BTC range to as high as 0.07 BTC soon. The technical chartist based his bullish analogy on the pair’s support level at 0.063 BTC. The price floor was instrumental in maintaining ETH/BTC’s bullish bias during the mid-May 2021 notorious crypto market crash. It also served as solid support during the pair’s uptrend in the early May 2020 trading …

Bitcoin (BTC) faces the prospects of reaching $47,500-$50,000 based on its current trend's eerie similarity with the one in June through December 2019. 2019 Bitcoin fractal In detail, Bitcoin topped out around $14,000 on June 26, 2019, before turning lower for the remainder of the year on profit-taking sentiment, and as well as FUD sparked by the Bitcoin Cash hardfork, Facebook's stand-off with regulators over its crypto project Libra, and then U.S. President Donald Trump and Treasury Secretary Steven Mnuchin's threatening tone on Bitcoin. The flagship cryptocurrency crashed to near $6,500 in December 2019. In doing so, it prompted its …

Whether a potential sell-off of shares tied to a multi-billion dollar Bitcoin (BTC) investment fund could crash the cryptocurrency's spot prices has turned into a hotly debated topic among the analysts in the space. Grayscale's premium remains negative for months The argument concerns Grayscale Bitcoin Trust, the world's largest digital assets manager that allows institutional investors to gain indirect exposure in the Bitcoin market through its product, GBTC. Investors purchase GBTC shares directly via Grayscale in daily private placements by paying in either Bitcoin or the U.S. dollar. Nevertheless, investors can sell their GBTC shares only after a six-month lockup …

A recent run-down in the Bitcoin (BTC) market faces the prospects of exhaustion before confirming a full-fledged bearish breakdown, so reflects a classic momentum-based oscillator. RSI forming higher lows Dubbed as Relative Strength Index, or RSI, the indicator measures the speed as well as change of directional price movements. It operates within a set range of numbers—between 0 and 100. The close is RSI to 0, the weaker is the price momentum. Conversely, an RSI reading near 100 reflects a period of strong momentum. The range also helps determine an asset's buying and selling opportunity. In detail, an RSI reading …

Gold is set to outperform Bitcoin (BTC) in the second quarter of 2021. An ounce of gold has surged from $1,707.45 on April 1 to over $1,750 in the still-running June 30 session. That marked a roughly 3.9% jump over the quarter. Meanwhile, Bitcoin has plunged by more than 40% to below $35,000 after topping out near $65,000 in mid-April, all in the same period. The inverse correlation between Bitcoin and gold markets surged specifically in April and May 2021. Analysts at JPMorgan noted in May that large institutional investors rotated their money out of the overvalued crypto markets to …

Ethereum Classic (ETC) reached its highest level in almost three weeks Wednesday, buoyed by Barry Silbert-backed Digital Currency Group’s $50-million investment and by an overall cryptocurrency market recovery led by Bitcoin (BTC). The 17th-largest cryptocurrency by market value traded as high as $63.19 — a nearly 98% rise from its June 22 low of $31.91. Meanwhile, the market value of all the Ethereum Classic tokens in circulation crossed $7.53 billion. $ETC was part of the 1%. +65% since Barry told us he was buying. https://t.co/gIa8FAeUQM — Hsaka (@HsakaTrades) June 30, 2021 Digital Currency Group (DCG) revealed on June 21 that …

Ether (ETH) prices reclaimed $2,000 on Monday, increasing expectations that the latest rebound would serve as a cue for further upside moves based on bullish fundamental and technical outlooks. The world’s second-largest cryptocurrency by market capitalization surged up to 4.96% to $2,083 ahead of the London opening bell. Its gains appeared as a part of an overall upside correction that started late Saturday. At that time, bids for ETH/USD had fallen to as low as $1,717.41. On Sunday, the pair closed the session at $1,984.71, following it up with another spike above $2,000 on Monday, a level that traders consider …

Altcoin traders and investors should look for cover if Bitcoin (BTC) undergoes major price declines. So believes Filbfilb, an independent market analyst and co-founder of Decentrader trading suite. In a tweet published late Friday, the pseudonymous entity said a 30% crash in the Bitcoin market could prompt altcoins to drop twice as harder. When Bitcoin consolidated between $50,000 and $60,000 in the March-May period, altcoins exploded. Similarly, the recent correction in the Bitcoin market, which witnessed the flagship cryptocurrency falling from circa $65,000 to as low as $28,000, also had altcoins crash; still, to the levels, they held as support …