Institutional investors continue to pour money into the crypto sector even with the current dip below $45,000. On Feb.24, business intelligence firm MicroStrategy announced that it had recently purchased over $1 billion worth of Bitcoin (BTC) at an average rate of $52,765 per coin. This takes the company’s total holding to 90,531 Bitcoin. Another company that bought Bitcoin during the current market correction is Square. The company said it had acquired roughly “3,318 Bitcoin at an aggregate purchase price of $170 million.” These purchases by institutional investors show they are bullish on the long-term prospects of Bitcoin and believe that …

Bitcoin’s (BTC) price has been grinding up nicely over the past few weeks, but the past 24 hours have seen a significant correction. BTC price dropped by over $10,000 from $58,000 to under $48,000, a correction of almost 20%. This pullback — which many anticipated as 28,000 BTC was deposited to Gemini — also caused other cryptocurrencies to fall alongside Bitcoin, resulting in Bitcoin's market dominance rising as a result. But will history repeat and produce a dull, corrective March? Let's analyze the charts. Bearish divergence implying further downside to come Markets never go up in a straight line, and …

The Purpose Bitcoin (BTC) exchange-traded fund debuted on the Toronto Stock Exchange on Feb. 18 and has quickly ramped up trading volumes of about $400 million worth of shares in two days. This is quite impressive, considering that the equity market in Canada is only a fraction of the size of the U.S. markets. This shows strong demand for Bitcoin and investor's preference to take the ETF route to establish fresh positions. Last week, Bitcoin reached another important milestone when it hit the critical $1 trillion market capitalization on Feb. 19, making it the sixth asset on the list of …

Bitcoin’s (BTC) price has been consistently rallying in the past few weeks, reaching its latest new high of around $57,500 on Feb. 20. The week has seen more bullish news such as the first German-listed company allocating its cash reserves to BTC as well as the launch of the first Bitcoin ETF in Canada, which traded over $220 million in its debut. Just for a day — Elon Musk (@elonmusk) February 19, 2021 Such news is fueling the price of Bitcoin, while Elon Musk has also embraced the latest “laser eye” meme to the joy of hodlers who are itching …

The current Bitcoin (BTC) price bull run seems almost unstoppable right now as BTC just notched another new high on Feb. 17. The psychological barrier of $50,000 finally broke on Tuesday after multiple tests of this level in the previous week. In addition, banks are revealing their interest in BTC, and more public companies are starting to hop on the Bitcoin bandwagon, with the first German company revealing its position today. This rally could now extend to $63,000. Meanwhile, altcoins are feeling some pain in their BTC pairs as a result while Bitcoin dominance is crawling back up. The primary …

Bitcoin (BTC) created another milestone on Tuesday when its price breached the $50,000 barrier. Bitcoin has now risen about 1,230% from a low of $3,803.58 on March 13, 2020 to a new all-time high at $50,622 on Tuesday. This rally has been led by strong institutional demand that is showing no signs of stopping. MicroStrategy, meanwhile, said it plans to again raise $600 million through a sale of convertible notes, and the proceeds will be used to buy Bitcoin. While institutional investors continue to buy, Glassnode data suggests that long-term Bitcoin investors are using this rally to book profits. Bitcoin …

A large part of the current crypto bull run has been driven by institutional demand. But for the first time, the institutions may be stepping back. According to CryptoQuant, the Coinbase Premium Index — the difference in Bitcoin’s (BTC) price on Coinbase Pro and Binance — has turned negative, which suggests that pro traders may be taking profits. The institutional selling needs to be monitored closely because roughly 3% of the Bitcoin in circulation is held by these investors. If they start to dump their positions, that could result in an exodus by other traders, leading to a sharp pullback. …

The strength of the cryptocurrency market appears to be spreading to privacy-focused coins. The calm price action of Bitcoin (BTC) often sets up an intense period for altcoins to rally, where several groups of coins can start becoming bullish. One of those segments is privacy coins. For example, Monero (XMR) rallied by more than 50% last week. Meanwhile, Dash has more than doubled, with a 125% gain, while Zcash (ZEC) rallied by 70% during the same period. Monero breaks out of USD downtrend Prior to the rally, XMR was lagging behind Ether (ETH), as the construction is quite similar between …

Demand and supply metrics determine the price of an asset and data from Glassnode, an on-chain data firm, shows that Bitcoin’s (BTC) liquid supply has been decreasing since June 2020. This signals that traders owning Bitcoin are not selling their holdings. While the supply is shrinking, demand has been going up in the past few months as an increasing number of institutional investors have been buying Bitcoin. Bloomberg recently reported that Morgan Stanley Investment Management’s subsidiary Cointerpoint Global “is exploring whether the cryptocurrency would be a suitable option for its investors.” According to Morgan Stanley’s website, Counterpoint Global chooses to …

Bitcoin’s (BTC) price has been consolidating in recent days, which kickstarted the rest of the cryptocurrency market. This frequently happens as Bitcoin starts to consolidate, it gives the chance for the rest of the market to catch up. Cardano (ADA) is one such cryptocurrency, which gained 170% in February alone with its price nearing $1 for the first time ever. Cardano's BTC pair is showing signs of life However, lots of information can be derived from the BTC chart as it’s just starting to wake up from its bear market slumber. The recent run created a new higher high — …

Bitcoin’s (BTC) price broke through the crucial level at $40,500 as news of Tesla adding $1.5 billion in Bitcoin to their balance sheet. This news event pushed the price to new all-time highs, putting the next major resistance level at $50,000. What's more, other cryptocurrencies are accelerating left and right as the landscape is ideal for altcoins to start moving. All-time highs are being established daily across many altcoins while Bitcoin is consolidating. But how long will this consolidation last? Let's take a look at the charts. Bitcoin price breaks key resistance on Tesla news The 4-hour chart shows an …

Bitcoin (BTC) has attracted several institutional investors in the past few months, but with the market capitalization sustaining above $700 billion, many more institutions are likely to contemplate buying Bitcoin. Similarly, Ether (ETH) with a market cap of about $180 billion also cannot be ignored by the investors. The institutional adoption of the top two cryptocurrencies is likely to attract numerous venture capitalists and early investors into smaller projects that have gained a decent size but have not yet reached their full potential. Although the risk is high in such investments, the returns could be equally attractive. For such investors, …