The crypto markets and the U.S. equity markets sold off on Sept. 20 on fears that the collapse of Chinese property giant Evergrande could not only hurt China but also have wider implications in other markets. When the sentiment is bearish, traders dump positions that they perceive as risky in favor of safe-haven trades. This could be one of the reasons for the sharp fall in Bitcoin (BTC) and most major altcoins on Sept. 20. Data from Bybt shows that Bitcoin held in Binance wallets has surged by 29,717 Bitcoin in the past 30 days. History suggests that an increase …

One of the familiar themes seen in previous crypto market cycles is the shifting market caps, popularity and ranking of the top 10 projects that see significant gains during bull phases, only to fade into obscurity during the bear markets. For many of these projects, they follow a recognizable boom-to-bust cycle and never return to their previous glory. During the 2017–2018 bull market and initial coin offering (ICO) boom, which was driven by Ethereum network-based projects, all manner of small smart contract-oriented projects rallied thousands of percentage to unexpected highs. During this time, projects like Bitcoin Cash (BCH), Litecoin (LTC), …

Bitcoin’s (BTC) recovery is facing stiff resistance near $48,500, indicating that bears are active at higher levels. By combining the popular stock-to-flow Bitcoin price model and the illiquid supply data, analyst William Clemente projects $39,000 to act as a strong floor on any declines. On the upside, analysts remain bullish. Bloomberg Intelligence chief analyst Mike McGlone has maintained his target of $100,000 for Bitcoin. McGlone said that a number of different charts underline the bullish potential for Bitcoin. Along with Bitcoin, Ether (ETH) is also showing signs of accumulation. Crypto analytics provider IntoTheBlock said $1.2 billion worth of Ether was …

Bitcoin (BTC) is leading the recovery in the crypto sector and the cryptocurrency briefly rallied to $48,429 on Sept. 15, before pulling back to test the underlying support levels. While speaking during a live stream at the SALT conference, Ark Invest CEO Cathie Wood said that Bitcoin is the default currency of the crypto space and could rise tenfold in the next five years. Her projection is based on the presumption that Bitcoin will find a place in the balance sheets of many companies and institutional investors will increase their allocation to Bitcoin and other cryptocurrencies to about 5%. Several …

Bitcoin’s (BTC) failure to make a strong recovery in the past few days has resulted in profit-booking in most major altcoins, threatening to pull the total crypto market capitalization back below $2 trillion. The United States equity markets witnessed profit-booking and the S&P 500 dropped by 1.69% last week, suggesting the development of a risk-off sentiment. Charles Edwards, CEO of investment manager Capriole, pointed out that “almost every Bitcoin correction in 2021” has corresponded with a 2% or more drop in the S&P 500. Irrespective of the near-term weakness in Bitcoin, MicroStrategy has continued to build its holdings. The company’s …

Bitcoin’s recent plunge does not seem to have shaken the investors and data shows that exchange reserves were down to 2.399 million Bitcoin (BTC), which is close to the May all-time low at 2.390 million Bitcoin. Ki Young Ju, CEO of on-chain analytics platform CryptoQuant, said this could result in a “sell-side liquidity crisis on Bitcoin.” Although Bitcoin has outperformed gold by a huge margin in 2021, Omega Advisors chairman and CEO Lee Cooperman remains averse to investing in it because he said that he does not understand Bitcoin. The billionaire investor still considers gold to be a better store …

Analysts are attributing Bitcoin’s (BTC) plunge on Sept. 7 to the liquidation of over-leveraged positions. According to Bybt data, about $3.68 billion worth of long positions were liquidated in the last 24 hours in the Bitcoin options market. On-chain monitoring resource Whalemap said the decline was largely due to selling by whales who had bought their Bitcoin recently and not by the HODLers. Separately, analyst Willy Woo also said: “Leverage markets sold off but investor buying just got stronger.” Every bull market has its share of corrections where weaker hands are shaken out and the stronger hands solidify their position. …

Bitcoin’s (BTC) market capitalization is nearing the $1 trillion mark and several altcoins have also been rallying hard in the past few days. This has driven the Crypto Fear and Greed Index into the extreme greed territory where the range fluctuates between 79 and 100. Generally, tops are made when the index hits around 95, which shows there is some more room to run. PlanB, the creator of the Bitcoin stock-to-flow model, believes that BTC is on target to reach $100,000 by Christmas this year. Eventually, he believes that BTC price will be much higher than $100,000 before the end …

Bitcoin (BTC) finally broke above the $50,500 resistance and Ether (ETH) has risen above the $4,000 mark. This suggests that there is growing interest in cryptocurrencies and several legacy finance companies are initiating steps to tap into this increasing demand. One of the world’s largest independent asset managers, Franklin Templeton, is accepting applications for fresh mid-senior level positions in crypto trading and research, according to Linkedin job listings. Meanwhile, in Japan, financial conglomerate SBI Holdings is planning to set up one of the first crypto funds in the country by the end of November. Tomoya Asakura, the director and senior …

The price of XRP edged higher on Sept. 2 as traders assessed Ripple Labs gaining an edge over the United States Securities and Exchange Commission in an ongoing courtroom battle. The XRP/USD exchange rate surged 4.74% to reach $1.296 for the first time since Aug. 23. The pair's climb appeared alongside a spike in trading volume on the four-hour chart, confirming traders' intent to support the upside move in the coming sessions. XRP has shot to go higher this week, reflecting a similar bullish move in other top digital assets. CrediBULL Crypto, an independent market analyst, noted that the Ripple …

Bitcoin (BTC) is struggling to break above $50,000 but analysts remain confident due to strong on-chain metrics. Analyst Willy Woo believes that investors have been accumulating Bitcoin and a break above $50,000 could result in a quick up-move to $60,000. Another positive voice was that of SkyBridge Capital CEO Anthony Scaramucci, who said in an interview with Cointelegraph that the limited, fixed supply of Bitcoin and exponentially growing demand will boost prices higher. Scaramucci personally believes that Bitcoin could reach $100,000 before the end of the year. Currently, the focus seems to have shifted to Ether (ETH) as it rallied …

There is an old proverb which says that history does not always repeat, but it tends to rhyme. If that holds true for Bitcoin (BTC), then a strong up-move may not happen in the month of September. Bybit data shows that since 2013, Bitcoin has closed September in the red for six years and has managed a positive monthly close only on two occasions. The best performance was in 2016 when Bitcoin rose 6.04%. However, September’s poor historical performance has not stopped small and large traders from accumulating Bitcoin in August. Ecoinometrics reported rising account balances for addresses holding 1,000 …