Bitcoin (BTC) failed to break the critical $50,000 psychological barrier on Aug. 23 and has since then retested the $47,000 support. If historical data plays any role in Bitcoin price, the month of September presented negative performances in 4 of the previous 5 years. Cointelegraph contributor and market analyst Michaël van de Poppe recently said that Ether's (ETH) break above $3,500 could be a leading indicator for Bitcoin's next bull run, and now that Ether trades at $3,700, traders anxiously await BTC's next move. Bulls could be excited for El Salvador's Bitcoin Law, which is scheduled to take effect on …

Very few events can shake the cryptocurrency markets in a sustainable manner that really sends Bitcoin and altcoin prices into a sharp directional move. One example is when Xi Jinping, China's President, called for a country-wide development of blockchain technology in October 2019. The unexpected news caused a 42% pump in Bitcoin (BTC), but the movement completely faded away as investors realized China was not altering its negative stance on cryptocurrencies. As a result, only a handful of tokens focused on China's FinTech industry, blockchain tracing, and industry automation saw their prices consolidate at higher levels. Some 'crypto news' and …

Bitcoin (BTC) price is still 4.4% down from its Aug. 23 high at $50,500, leading some traders to question whether the local top marked the end of the recent 34-day long bull run. Even with the current correction, derivatives data and the maneuvers of professional investors are not flashing any bearish signals. On Aug. 24, prominent technical analyst John Bollinger suggested that Bitcoin price could be pushed lower in the short term. A pseudonymous market analyst called 'CryptoHamster' shared a similar bearish outlook based on analyzing a technical pattern called an ascending channel. Bearish news coming from exchange regulation could …

$2 billion worth of Bitcoin (BTC) options will expire on Friday, Aug. 27. Some analysts argue that a strong call (buy) option buying activity on Sunday was likely the catalyst for the recent $50,000 price test. Digital asset trading firm QCP Capital mentioned in its market update that an entity has been “consistently pushing (option) prices higher in the last few weeks.” The activity, which took place during the morning trading session in Asia, aggressively bought bullish options in chunks of 100-BTC contracts each. The report also mentions the exhaustion of regulatory concerns in the near term, as crypto-related decisions …

The price of Bitcoin (BTC) is back at the $50,000 level, and there's little doubt that the 47% positive rally over the past 30 days has been fueled by whale accumulation, institutional adoption and positive remarks from regulators regarding a possible exchange-traded fund (EFT) approval. Despite the positive newsflow, the top traders at crypto exchanges and derivatives data appear unmoved by the recent rally to the $50,000 resistance. Crypto analyst Will Clemente highlighted the accumulation from addresses containing 1,000 to 10,000 BTC. Price down today while whale holdings went up by ~13,000 BTC. Funny how that works. pic.twitter.com/a6tb2DiqxH — Will …

Over the past seven days, Bitcoin (BTC) has failed to break through the $48,000 resistance, but its price has remained flat even as Minneapolis Federal Reserve Chairman Neel Kashkari bashed the industry. During an appearance at the Pacific NorthWest Economic Region Annual Summit on Aug. 17, Kashkari said: “So far, what I’ve seen is […] 95% fraud, hype, noise and confusion.” Moreover, Kashkari specifically targeted Bitcoin when he mentioned that its only use case has been funding illicit activities. Even with the current pullback, Bitcoin investors should be glad that the $44,000 support held because the Federal Reserve also signaled …

On Friday, Aug. 13, a total of $675 million worth of Bitcoin (BTC) options are set to expire, and currently the bulls enjoy a significant advantage after a 20% weekly rally to $46,743. As Cointelegraph previously reported, two things that marked the positive shift seen from institutional investors were that deposits to derivatives exchanges reached their lowest levels since May 11 and that entities with 10,000 to 100,000 BTC added over $12 billion additional Bitcoin to their holdings. Meanwhile, cryptocurrency adoption continues to rise as the Paypal-owned payments firm Venmo has expanded its support by allowing credit card holders to …

Despite the recent breakouts to the $40,000 level, Bitcoin’s (BTC) price could still face downward pressure in August. The 42% rally in late July effectively inspired some optimistic short-term options bets, but the initial data largely favors the neutral-to-bullish call options, and failure to sustain $40,000 has significantly reduced this advantage. A good deal of the pressure is probably coming from the infrastructure proposal in the United States Senate. HR 3684 tightens rules on businesses handling cryptocurrencies and expands reporting requirements for brokers, which has had a knock-on effect on the market’s bullish momentum. In addition to tightening regulations on …

Long-dated Bitcoin options and bulls still make waves with their ultra bullish bets, but even they must admit that the possibility of (BTC) trading above $60,000 in the next couple of months is dim. Many traders have added leveraged-long positions via futures contracts to chase after the elusive all-time high, but this seems like an unrealistic outcome. According to Willy Woo, a popular on-chain analyst, exchange outflows and accumulation from BTC miners and whales suggest that Bitcoin price will reach the $50,000 to $65,000 range in the coming sessions. Even Gary Gensler, the Chair of the United States Securities and …

On Friday, July 30, a total of 42,850 Bitcoin (BTC) options contracts ($1.7 billion) are set to expire. This might be the first time since the May 21 weekly expiry that bulls will be able to profit from the $40,000 call (buy) options. The most recent surge in price may have been prompted by the rumor that Amazon would accept crypto payments, but after the e-commerce giant denied these rumors, BTC has held relatively steady. According to options markets, regardless of the reason behind the recent market strength, a few incentives are in place for bulls to sustain the $40,000 …

Bitcoin (BTC) traders might be feeling extra euphoric after the recent 35% rally, but data suggests bears are not too worried because a similar breakout took place in mid-July and the price failed to hold the $40,000 support. To understand how bullish investors are this time around, let's take apart the derivatives data and look at the futures contracts premium and options skew. Typically, these indicators reveal how professional traders are pricing the odds of a potential retrace to $36,000. Even though the pattern isn't exactly similar, Bitcoin crashed to $31,000 on June 8 and bounced to $41,000 six days …

This Friday’s weekly Bitcoin (BTC) options expiry currently holds $330 million in open interest. Considering the recent struggle to regain the $32,000 support level, this event is an important test of bulls’ willingness to display reversion signs. On Wednesday, Alameda Research announced that it had made Bitcoin purchases below $30,000, and Sam Trabucco, the firm’s quantitative trader, mentioned that the narrative for BTC could turn bullish because of the ongoing fear, uncertainty and doubt (FUD) caused by the China BTC mining ban, Grayscale GBTC unlock and recovery in stock markets. The chart above shows that the current downtrend channel, initiated …