Most retail traders find it difficult to go against the herd and buy when the market is down. They generally wait for the price to recover and for improvements in sentiment before jumping in. By doing this, retail traders typically miss the larger part of relief rallies and pocket a smaller profit. On the other hand, professional investors capitalize on sharp corrective moves by purchasing if they believe that the fundamental long-term trajectory remains intact. Daily cryptocurrency market performance. Source: Coin360 New research by OKEx Insights and Catallact indicates that retail traders were “shaken out” by Bitcoin’s (BTC) crash in …

In recent weeks, most of the cryptocurrency market has been doing poorly except for a few select altcoins. One of them is Yearn.finance (YFI), which was discussed in an earlier article. The other large-cap cryptocurrency doing well is Binance Coin (BNB), as the token of the cryptocurrency exchange dropped to $18 and immediately ran to $32 within one week. This is a rally of 80% in a matter of days and, therefore, ripe for technical analysis to gauge where BNB may be headed next. Crypto market daily performance. Source: Coin360 Binance Coin faces final resistance before test of all-time highs …

This week Digital Assets Data CEO Mike Alfred told Cointelegraph that mainstream investors are still “skeptical of Bitcoin and the ecosystem." However, Alfred believes that this “skepticism and disbelief” will turn out to be a positive for Bitcoin (BTC) because when the “traditional folks capitulate, they will be forced by their clients and partners to get involved at significantly higher prices." While Bitcoin has struggled to start a sustained uptrend in the past few weeks, select altcoins and tokens in the DeFi space have been in a strong bull run. This shows that traders attention has shifted away from Bitcoin. …

A week ago, the market was on shaky ground as volatility went through the roof with massive drops in portfolios seen across the board. However, this past week was relatively boring and stable as the price of Bitcoin (BTC) is now in a narrow range. This narrow range is confusing the majority of traders as it is not hinting at any direction for further momentum. Will Bitcoin break back above $11,000 or will the markets close the CME gap at $9,650? Let’s take a closer look at the charts. What are the crucial levels for Bitcoin? The U.S. Dollar is …

The President of the European Central Bank (ECB) Christine Lagarde said that the coronavirus pandemic has acted as a catalyst in boosting the adoption of digital payments in the European Union. Lagarde expects the majority of the consumers to continue using digital services even in the future. In order to support the digitalization, the ECB has formed a task force, which is “exploring the benefits, risks and operational challenges” of developing a digital euro and is expected to announce its findings within the next few weeks. While a central bank digital currency might build up consumer interest in the short-term, …

One of the hottest cryptocurrencies in recent weeks has been Yearn.finance (YFI). The project fundamentals are food for thought, but its price is also a relatively new approach in the cryptocurrency markets, with YFI valued at over $30,000 per YFI, or three times the price of one BTC, albeit with a much smaller market cap. Nevertheless, it has caught the attention of traders and its price also surged in the past few days after Coinbase Pro announced on Sep. 10 that it will list the token shortly. Yearn.finance tests support at $19,000 and surges with 100% YFI/USDT 1-day chart. Source: …

The short-term gyrations in crypto and stock prices are usually based on sentiment and technicals, while the long-term trends generally follow stronger underlying fundamentals. Therefore, if the fundamentals do not weaken, smart investors view short sharp corrections as a buying opportunity. Data suggests that large investors, oftentimes dubbed ‘whales’, have been accumulating Bitcoin (BTC) since March. Along with them, several new small traders have also been buying Bitcoin and this suggests that retail and high net worth traders believe that Bitcoin will work as a store of value during the next crisis. Daily cryptocurrency market performance. Source: Coin360 Morgan Stanley’s …

As the price of Ethereum’s native digital currency, Ether (ETH), has had record-high transaction fees recently, the price of ETH has also shown an increased amount of volatility. A new high was hit at $495 at the end of August, after which the price took the elevator down and dropped more than 30% to $308. This dropdown caused the overall cryptocurrency market to slide as well, as the price of Bitcoin tumbled to test $10,000. Let’s take a look at the technical chart to see where ETH price, and hence many other cryptocurrencies, may be headed next. Crypto market daily …

Corrections are healthy for the strength of an uptrend because they shake out the excess exuberance and provide an opportunity to the traders who missed the bus earlier to make an entry at lower levels. About 68 crypto investors did the same thing when they used the recent dip to purchase anywhere between 1,000–10,000 Ether (ETH). Buying against the prevailing short-term negative sentiment during a correction is not an easy task but it is generally the right thing to do if the medium-term trend is bullish. Daily cryptocurrency market performance. Source: Coin360 Tops and bottoms are confirmed only in hindsight, …

Last weekend was incredibly rough for most cryptocurrency investors as massive sell-offs occurred. The price of Bitcoin (BTC) dipped below $10,000 several times but seems to have found short-term support at this level. The primary question for the markets is whether a relief rally is around the corner or further downside movement is expected. Let’s take a look at the charts to determine what might happen next. Crypto market daily performance snapshot. Source: Coin360 Bitcoin clings to $10,000 as a psychological support level BTC/USDT 1-day chart. Source: TradingView The psychological barrier at $10,000 is currently acting as support, indicating that …

The U.S. stock markets, gold, crude oil, and crypto markets have all corrected in the past week, which shows that traders booked profits in most asset classes. The total crypto market capitalization corrected from a high of above $394 billion to a low of about $313 billion, which is roughly a 20% correction. This decline also led to a sharp fall in Bitcoin (BTC) futures open interest, which was down by $653 million on Sep. 3, suggesting squaring up of positions by a few professional short-term traders. However, even after the fall, the trend in several major cryptocurrencies has not …

The markets are bleeding out. Ether (ETH) dropped from $500 to $300 in a matter of days, people are screaming that the DeFi bubble has burst already, and are crying about their favorite “[insert food name] coin” crashing in value after a one-month-old Twitter account rug pulled 38K ETH from investors. Yes, it’s just another week in crypto, but did anyone else notice that Tron (TRX) was pumping amidst all this? Might just be a coincidence, but the last time this happened so quickly the entire crypto market bled out in the long, cold crypto winter. Daily cryptocurrency market snapshot, …