Ether's (ETH) impressive 85% gain in the past thirty days will have surprised even the most bullish investors and it makes the $800 range seen from mid-July seem like ages ago. Bulls now hope to turn $1,900 to support, but derivatives metrics tell a completely different story and the data suggests that professional traders remain highly skeptical. It's important to remember that the leading cryptocurrency, Bitcoin (BTC), gained 28% in the same period. Thus, there should be no doubt that the Ether bull run was driven by the "Merge" expectation, a transition to a proof-of-stake (PoS) consensus network. "Goerli" was …

Bitcoin (BTC) price continues to battle at the $24,000 resistance and the price rejected there on Aug. 10, but the rejection was not enough to knock the price out of the 52-day-long ascending channel. The channel has a $22,500 support and this bullish formation suggests that BTC price will eventually hit the $29,000 level by early October. Bitcoin derivatives data does show a lack of interest from leveraged longs (bulls), but at the same time, it does not price higher odds of a surprise crash. Curiously, the most recent Bitcoin downturn on Aug. 9 was accompanied by a negative performance …

The Bitcoin (BTC) price chart from the past couple of months reflects nothing more than a bearish outlook and it’s no secret that the cryptocurrency has consistently made lower lows since breaching $48,000 in late March. Curiously, the difference in support levels has been getting wider as the correction continues to drain investor confidence and risk appetite. For example, the latest $19,000 baseline is almost $10,000 away from the previous support. So if the same movement is bound to happen, the next logical price level would be $8,000. Traders are afraid of regulation and contagion On July 11, the Financial …

The total crypto market capitalization has fluctuated in a 17% range in the $840 billion to $980 billion zone for the past 28 days. The price movement is relatively tight considering the extreme uncertainties surrounding the recent market sell-off catalysts and the controversy surrounding Three Arrows Capital. From July 4 to 11, Bitcoin (BTC) gained a modest 1.8% while Ether (ETH) price stood flat. More importantly, the total crypto market is down 50% in just three months, which means traders are giving higher odds of the descending triangle formation breaking below its $840 billion support. #Bitcoin Bottom scenario : Since …

A descending triangle pattern has been pressuring Bitcoin (BTC) for the past three weeks and while some traders cite this as a bullish reversal pattern, the $19,000 support remains a crucial level to determine the bulls' fate. Despite the apparent lack of a clear price bottom, Bitcoin derivatives metrics have significantly improved since June 30 and positive news from global asset manager VanEck may have eased traders' sentiment. On July 5, two retirement funds in the U.S. state of Virginia announced a $35 million commitment to VanEck's cryptocurrency-focused investment fund. On the same day, a Huobi exchange subsidiary received its …

South Korean crypto investment startup platform Uprise reportedly lost around 99% of its assets worth about $20 million when it got liquidated shorting the Luna Classic (LUNC) token. Uprise’s trading desk Heybit uses an artificial intelligence (AI) trading system that was designed to reduce the risks associated with leveraged trading. Local news outlet Seoul Economic Daily reported on Wednesday that Uprise’s AI, which it calls a robo-advisor, made a disastrous misread in May on LUNC as it fell precipitously from $60 to fractions of a cent. The system shorted LUNC but got liquidated during the token’s bizarre price pumps along …

Institutional investors loaded up on a record $51.4 million worth of investment products offering exposure to shorting the price of Bitcoin (BTC) last week. According to data from the latest edition of CoinShares’ weekly “Digital Asset Fund Flows” report, there was $64 million worth of inflows for digital asset products between June 27 and July 1, with short BTC funds representing 80% of that figure. United States-based investors accounted for the lion’s share of inflows at $46.2 million, with short-BTC investment products in solid demand after ProShares launched the first-ever U.S.-based short Bitcoin exchange-traded fund (ETF) on June 22. The …

A mild sense of hope emerged among Bitcoin (BTC) investors after the June 18 drop to $17,600 becomes more distant and an early ascending pattern points toward $21,000 in the short-term. Recent negative remarks from lawmakers continued to curb investor optimism. In an interview with Cointelegraph, Swiss National Bank (SNB) deputy head Thomas Muser said that the decentralized finance (DeFi) ecosystem would cease to exist if current financial regulations are implemented in the crypto industry. An article published in The People's Daily on June 26 mentioned the Terra (LUNA), now renamed Terra Classic (LUNC), network's collapse and local blockchain expert …

The Singapore-based crypto venture firm Three Arrows Capital (3AC) failed to meet its financial obligations on June 15 and this caused severe impairments among centralized lending providers like Babel Finance and staking providers like Celsius. On June 22, Voyager Digital, a New York-based digital assets lending and yield company listed on the Toronto Stock exchange, saw its shares drop nearly 60% after revealing a $655 million exposure to Three Arrows Capital. Voyager offers crypto trading and staking and had about $5.8 billion of assets on its platform in March, according to Bloomberg. Voyager's website mentions that the firm offers a …

Ether (ETH) price is down 37.5% in the last seven days and recent news reported that developers decided to postpone the network's migration to a proof-of-stake (PoS) consensus. This upgrade is expected to end the dependency on proof-of-work (PoW) mining and the Merge scalability solution that has been pursued for the past six years. Competing smart contracts like BNB, Cardano (ADA) and Solana (SOL) outperformed Ether by 13% to 17% since June 8 even though there was a market-wide correction in the cryptocurrency sector. This suggests that the Ethereum network's issues also weighed on the ETH price. The "difficulty bomb," …

Bitcoin (BTC) has been unable to restore the $24,000 support since Celsius, a popular staking and lending platform, paused withdrawals from its platform on June 13. A growing number of users believe Celsius mismanaged its funds following the collapse of the Anchor Protocol on the Terra (LUNA; now LUNC) ecosystem and rumors of its insolvency continue to circulate. An even larger issue emerged on June 14 after crypto venture capital firm Three Arrows Capital (3AC) reportedly lost $31.4 million through trading on Bitfinex. Furthermore, 3AC was a known investor in Terra, which experienced a 100% crash in late May. Unconfirmed …

The total crypto market capitalization has been trading in a descending channel for the past 29 days and currently displays support at the $1.17 trillion level. In the past seven days, Bitcoin (BTC) presented a modest 2% drop and Ether (ETH) faced a 5% correction. The June 10 consumer price index (CPI) report showed an 8.6% year-on-year increase and crypto and stock markets immediately felt the impact. Still, it’s not certain whether the figure will convince the United States Federal Reserve to hesitate in future interest rate hikes. Mid-cap altcoins dropped further, sentiment is still bearish The generalized bearish sentiment …