Bitcoin (BTC) dropped back below $39,000 on Aug. 2, suggesting that short-term traders were booking profits after the price failed to close above $42,451.67. However, lower levels may attract the type of buying seen in late July. Data from Santiment showed that Bitcoin held on wallet addresses storing between 100 and 10,000 Bitcoin rose to a new all-time high at 9.23 million Bitcoin on Aug. 1. The previous all-time high for this group of investors was recorded on April 5, just over a week before Bitcoin hit an all-time high of $64,854 on April 14. Santiment highlighted that the “addresses …

Crypto as a payment option for real estate continues to gain traction as the adoption of digital currencies for commercial transactions continues to take shape. Scott Paul, founder of Utah-based marketing agency Wooly, put up his Saratoga Springs home for sale, with Dogecoin (DOGE) as an acceptable payment method, according to a report by Fox 13 on Sunday. While the listing price is set at $399,000, Paul is reportedly ready to offer a 10% discount if the purchase is made via Dogecoin. Commenting on the potential volatility risk associated with a real estate deal conducted via DOGE, Paul remarked, “I’m …

Bitcoin (BTC) and most major altcoins seem to be faltering near their respective overhead resistance levels. This suggests that some investors are continuing to sell at higher levels. However, 21st Paradigm co-founder Dylan LeClair said that on-chain data shows “big transfer volumes from over-the-counter (OTC) desks over the last week.” Cointelegraph also recently highlighted a historic 57,000 BTC outflow from exchanges on July 28. Ecoinometrics also cited on-chain data to show that "whales" and “small fish'' accumulated Bitcoin when the price recovered from $29,400 to over $40,800 this week. Institutional investors are also not to be left behind in their …

Bitcoin (BTC) and most major altcoins are attempting to break above their respective overhead resistance levels, indicating the return of the bulls. Data from Bybt shows that the Grayscale premium has been climbing and reached -5.88% on July 27, its closest level to zero since May 25. This suggests that institutional investors may have again started building positions via the Grayscale Bitcoin Trust. Another institutional investment product showing a possible return of buyers is Canada’s Purpose Bitcoin ETF whose assets under management rose to 1.1 billion Canadian dollars on July 27, its highest level since May 13. Swiss private bank …

The wider cryptocurrency market entered a period of consolidation on Tuesday following Bitcoin’s (BTC) brief spike above $40,000 the day before, which helped ignite a rally across the market and brought a renewed sense of optimism to the market. Data from Cointelegraph Markets Pro and TradingView shows that a mid-day attempt by bulls to lift the price of BTC back above the $40,000 level was rejected, resulting in a price pullback to $37,500. While Tuesday’s price pullback may suggest that Monday’s rally was simply a short squeeze, others point to the rising Grayscale Bitcoin Trust (GBTC) premium, which is now …

Bull market optimism returned to the cryptocurrency market on Monday after Bitcoin’s (BTC) price rallied above the $40,000 level for the first time in over six weeks. Monday’s rally to $40,581 was a continuation of Sunday’s breakout that saw BTC’s price rocket to $48,110 on Binance after a short squeeze resulted in nearly $500 million in shorts being liquidated in just two minutes. Data from Cointelegraph Markets Pro and TradingView shows that BTC spiked to an intraday high at $40,581 on Monday before pulling back to $37,500 as bulls looked to flip this resistance zone back to support in preparation …

Bitcoin (BTC) soared from $29,482.61 on July 21 to $40,000 today, its highest level since June 16. This sharp rebound shows a possible change in sentiment. The bulls received a boost on Sunday, following the news from an anonymous source within Amazon proclaiming that the company is planning to accept Bitcoin payments by the end of 2021 and is exploring the launch of its own cryptocurrency by 2022. This news seems to have sent the bears scurrying to the exit, resulting in a short squeeze. Data from Bybt shows about $1.1 billion of liquidations in 24-hours on Monday, the most …

Bitcoin’s (BTC) recovery is facing resistance near $32,500, suggesting that the ride higher may not be an easy one. However, a positive sign is that demand for cryptocurrencies remains strong and lower levels continue to attract buyers. A survey of 150 family office clients of Goldman Sachs shows that 15% have already invested in crypto-assets and 45% want to take the plunge. The family offices manage more than $6 trillion in assets, meaning, even a small percentage of inflow from this sector could eventually boost crypto prices. It is not only the wealthy who are investing in cryptocurrencies. A recent …

Coinbase Commerce, the e-commerce arm of the United States-based crypto exchange, has added support for Dogecoin (DOGE) payments. According to a Twitter announcement, Dogecoin became the seventh cryptocurrency for merchants to accept payments on Coinbase’s e-commerce portal. The platform currently supports Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC), along with stablecoins Dai and USD Coin (USDC). An integration with Coinbase.com enables Coinbase Commerce customers to convert their crypto payments into U.S. dollars, euros, British pounds or USDC without leaving the e-commerce portal. According to a blog post dated October 2020, the same integration for Coinbase Prime and Pro …

Bitcoin (BTC) circled $32,000 on Thursday after excitement over fresh comments by Elon Musk resulted in the strengthening of support. BTC bulls regroup at $32,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD ranging between $31,500 and $32,000 overnight on Wednesday hours after Musk joined others in praising Bitcoin during a conference panel. As Cointelegraph reported, Musk’s words came over broadly positive and less critical than many had assumed they would be — this, in turn, led to a brief price surge that topped out above $32,800. Thereafter, familiar resistance kicked in, and $32,400 once more became the level …

Bitcoin (BTC) is leading the recovery in crypto markets today after the price rallied back above the $32,000 level. Sam Trabucco, a quantitative trader at Alameda Research, said the firm had purchased the dip in Bitcoin on July 20. Trabucco said the sharp recovery in equity markets, fewer long liquidations in the crypto derivatives market and the possible end of FUD caused due to China mining ban and Grayscale unlocking could act as recovery catalysts that could boost the crypto rally further. However, analyst and podcast host Nebraskan Gooner views the recovery in Bitcoin as a shorting opportunity. Veteran trader …

Bitcoin (BTC) continued its bounce from its 2021 opening price on Wednesday, hitting $31,600 in what some fear is just a temporary reprieve from the downside. “Short the bounce?” Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it gained a respectable 7% during Wednesday. Bulls had successfully defended the largest cryptocurrency against further losses at just above $29,000 — the price at which the market began the year. As Cointelegraph reported, however, concern is running high over current strength being a “relief rally” — not a true comeback after a price floor. “It’s still ‘short the bounce’ season,” …