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ETH price finally polevaulted the $2,000 resistance, but will retail demand and network use support the current bullish momentum? Ether (ETH) experienced a surprising 8% rally on Nov. 9, breaking the $2,000 barrier and achieving its highest price level in six months. This surge, triggered by news of BlackRock registering the iShares Ethereum Trust in Delaware, resulted in $48 million worth of liquidations in ETH short futures. The initial announcement was made by @SummersThings on a social network, later confirmed by Bloomberg ETF analysts. The iShares Ethereum Trust has just been registered in Delaware. For context, BlackRock's iShares Bitcoin Trust was registered in a similar manner 7 days before they filed the ETF application with the SEC. Details below. [announcement: I’m moving to @SynopticCom soon] pic.twitter.com/IYafIaxMzA — Summers (@SummersThings) November 9, 2023 The news fueled optimistic expectations regarding a potential Ether spot ETF filing by BlackRock, a $9 t...

The highest Bitcoin open interest levels in over six months come as analysis predicts that BTC price action will fail to flip $36,000 this week. Bitcoin (BTC) fell toward $34,500 on Nov. 7 as analyst s’ attention turned to mushrooming open interest . BTC/USD 1-hour chart. Source: TradingView Open interest "surge" spooks Bitcoin pundits Data from Cointelegraph Markets Pro and TradingView showed BTC price trajectory struggling to reclaim $35,000 as support. The largest cryptocurrency lacked clear direction into the Wall Street open, but market participants predicted that volatility would soon return. The reason, they said, was a sharp increase in open interest (OI) on derivatives markets. “Almost 10k BTC (~$350MM USD) in open interest added today. Fireworks soon,” financial commentator Tedtalksmacro predicted on the day. As Cointelegraph reported, open interest reaching elevated levels has coincided with bouts of volatility in recent months. Commenting on current levels, whic...

Bitcoin’s reluctance to give up ground has attracted strong buying in select altcoins. Bitcoin (BTC) price climbed by 15% last week and 10.45% the week before. The S&P 500 Index dropped 2.53% last week and 2.39% the week before. This shows that Bitcoin has decoupled from the S&P 500 Index in the short term and may chart its own course. However, the path higher may not be easy. The Federal Open Market Committee’s meeting on Nov. 1 may cause some volatility, but it will li be short-lived as no surprises are expected. CME’s FedWatch Tool projects a 98% probability that rates will remain unchanged. Daily cryptocurrency market performance. Source: Coin360 A large part of the gains in Bitcoin have been fuelled by expectations that the United States Securities and Exchange Commission will approve a spot Bitcoin exchange-traded fund in the near future. Any adverse news in this regard may prove to be a major setback for the bulls. When traders start chasing prices higher, it increases ...

BTC price needs to recoup some more key levels before ditching longer-term bearish risk, the latest Bitcoin analysis says. Bitcoin (BTC) held above $30,000 at the Oct. 23 Wall Street open as Analysis said BTC price strength could cancel its “ bearish fractal .” BTC/USD 1-hour chart. Source: TradingView BTC price preserves majority of early upside Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it hovered near $30,700, still up 2.5% on the day. The largest cryptocurrency had made snap gains after the Oct. 22 weekly close, stopping just shy of $31,000 in what became its highest levels since July. Now, popular trader and analyst Rekt Capital was keen to see the $31,000 level break. “Bitcoin has Weekly Closed above the Lower High resistance to confirm the breakout,” he commented alongside the weekly chart. BTC/USD annotated chart. Source: Rekt Capital/X Rekt Capital argued that BTC/USD could disregard the bearish chart fractal in play throughout 2023 next. This ...

SBF, Caroline Ellision, Alameda and FTX may have conspired to keep Bitcoin price below $20,000, but is it actually possible and worth the effort? On Oct. 11, Caroline Ellison, the former head of the now-defunct Alameda Research, informed a U.S. court that she received instructions from FTX's co-founder and CEO, Sam "SBF" Bankman-Fried, to sell Bitcoin (BTC) if its price remained above $20,000.  This admission came as a shock to the entire crypto industry, but the two conspiring to suppress BTC price, versus actually doing it are two different things. While there are no details available regarding the size and timing of these trades, the timeframe likely falls within September and October 2022, just weeks before Alameda and FTX collapsed. Determining whether Alameda effectively acted to suppress Bitcoin's price below $20,000, as alleged by some analysts and traders is challenging, if not impossible. Nevertheless, it is possible to assess the significance of FTX'...

The debt ceiling is unlikely to hold as the government faces increased pressure from interest rate payments, a potential catalyst for Bitcoin and cryptocurrencies. The U.S. Federal Reserve made a significant announcement on Sept. 14, revealing accumulated losses of $100 billion in 2023. What’s more, this situation is expected to worsen for the Fed, according to Reuters. But for risk assets like Bitcoin (BTC), this may actually be a blessing in disguise.  The Fed in the red The primary reason behind this financial setback is that the interest payments on the Fed’s debt have surpassed the earnings generated from its holdings and the services it provides to the financial sector. As a result of this development, investors are now scrambling to grasp how this will impact interest rates and the demand for provably scarce assets like BTC. Fed earnings remittances due to the U.S. Treasury, USD (millions). Source: St. Louis Fed Some analysts are of the opinion that the Fed’s losses, which com...

$24,500 keeps control on hourly timeframes as gains for both Bitcoin and Ethereum are quickly extinguished. Bitcoin (BTC) returned to range resistance on Aug. 17 amid ongoing concerns that a retracement is imminen. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView No success for Bitcoin bulls Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $24,448 on Bitstamp, up 3.25% from the previous day's low before diving $600 in under an hour. Momentum gained speed on the day, but bulls faced familiar resistance at levels keeping them broadly in check since mid-June. The past week's trips to $25,000 and beyond remained brief breakouts beyond a two-month price ceiling. Analyzing the scenario, veteran trader Peter Brandt eyed a rising wedge setup in progress for Bitcoin with $20,700 as its starting point. On-chain monitoring resource Material Indicators was less convinced about the staying power of the current rally. Uploading a snapshot of the Binance...

BTC price bounces and the U.S. dollar falls from fresh twenty-year highs as PMI numbers reignite talk of recession. Bitcoin (BTC) headed for multi-day highs after the Aug. 23 Wall Street open as United States economic data tripped up the dollar. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Dollar suffers as data shows incomes "squeezed" Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it eyed $21,700 at the time of writing, near resistance in place since last week’s near-12% drop. The pair gained momentum as the U.S. Purchasing Managers Index (PMI) prints for August showed a drop versus the month prior , hitting the lowest levels since May 2020 at the height of the first round of COVID-19 lockdowns. “The S&P Global Flash US Services Business Activity Index posted at 44.1 in August, down from 47.3 in July, to indicate a further reduction in overall services activity,” a press release from curator S&P Global stated. “The decrease ...

Bitcoin hodlers need to look at November 2024 for clues as to when BTC price will aim for the moon next, says CryptoCon. Bitcoin (BTC) is about to test hodlers with a “mid cycle lull” before starting a bull run in late 2024, a new BTC price model states. According to its creator, popular analyst CryptoCon, the “November 28th Cycles Theory” demands the BTC price all-time high in 2025. Countdown to BTC price “bull run launch” Amid debate over the nature of the current Bitcoin four-year price cycle, CryptoCon believes that all may be simpler than many imagine when it comes to how BTC/USD behaves at a given time. Unveiling the November 28th chart on X (formerly Twitter), he delineated the date as a key pivot point in the year, along with a three-week period either side. “Using 4-year time cycles against my Theory, produces Bitcoins exact behavior in time since its inception. Cycles are centered around the date of the first halving Nov 28th,” he explained. “Bitcoin price action began at th...

It may be a case of "so near yet so far" when it comes to June's multi-year low being the next BTC price floor, warns Willy Woo. Bitcoin's (BTC) market behavior is not yet “synonymous” with previous bear market bottoms, one of the leading crypto analysts argues. In a Twitter thread on Sept. 14, statistician Willy Woo, creator of data resource Woobull, offered three examples of why BTC/USD should still have further to fall. Despite many calling a new macro price bottom during June’s trip to $17,600, not everyone is confident that Bitcoin will avoid a retest. For Woo, there is still reason to believe that lower levels will mark the new price floor — and this could be anywhere, including below $10,000. "Underwater" supply short of bottom zone One metric Woo flags is the percentage of the overall BTC supply held at a loss — now worth more than the price at which it last moved. In previous bear markets, price bottoms coincided with more than 60% of coins being u...

Bitcoin keeps up the gains with U.S. stocks with hours to go until a decision on rate hikes and comments from Fed Chair Powell. Bitcoin (BTC) set new one- month highs on the Dec. 14 Wall Street open on the day of key events for the United States Federal Reserve. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView Bitcoin bullish with Ustocks into FOMC Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $18,126 on Bitstamp, beating the $18,106 high from the day prior. U.S. stocks edged higher as markets eagerly awaited feedback from the Fed after the November Consumer Price Index (CPI) print showed inflation slowing beyond expectations. Dec. 14 was set to see a decision on rate hikes for the month from the Federal Open Market Committee (FOMC), together with a speech from Fed Chair Jerome Powell. The latter event tends to spark considerable volatility, with pundits closely scrutinizing Powell’s language for hints about longer-term economic policy. “With FO...

Bitcoin whales are guiding BTC price around $25,000 and caution is needed, analysis warns. Bitcoin (BTC) spent another day tackling $25,000 on Feb. 20 as analysts continued to warn over market manipulation. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin buoyed by "Notorious B.I.D." Data from Cointelegraph Markets Pro and TradingView showed BTC/USD making up losses from around the weekly close to approach the $25,000 mark again at the time of writing. Bulls remained unable to spark a resistance-support flip, however, and whale activity on exchanges kept suspicions high. In its latest update, monitoring resource Material Indicators revealed that large-volume traders were artificially “thinning” resistance overhead, making it more likely that BTC/USD would move higher. Co-founder Keith Alan referenced a wall of bid liquidity buoying spot price , something he called the “Notorious B.I.D.” “Multiple rejections from $25k correlates perfectly with BTC macro TA ...

BTC price action is all about the 200-day moving average into the monthly close, with opinions on the outlook increasingly polarized. Bitcoin (BTC) is retaining this week’s gains, with some trader s doubling down on their bullish BTC price bets. BTC/USD 1-hour chart with 200-day EMA. Source: TradingView Trader: Bitcoin price may have bottomed A key moving average is buoying low-timeframe BTC price action, which continues to preserve $27,000, data from Cointelegraph Markets Pro and TradingView shows. Bitcoin may have retraced from its local highs above $28,000, but bears have not yet sparked a full retrace of the move. For some, this is increasingly positive news, as BTC/USD is now successfully holding a long-term trend line lost as support earlier in August. This comes in the form of the 200-day exponential moving average (EMA), currently at $27,180. Some hourly candles closing below into Aug. 31 were not enough to spark a more significant breakdown, and Bitcoin is tightly hugging...

This week’s episode of Market Talks discusses the future of BTC mining and how miners can maximize profits, as well as the upcoming Bitcoin halving and its impact on the mining industry. On the latest episode of Cointelegraph’s Market Talks , host Ray Salmond spoke with Dan Rosen, associate director of derivatives at Luxor, a United States-based Bitcoin (BTC) mining pool, research hub and service provider. The show touched on a number of broad topics, including Rosen’s view on how the upcoming Bitcoin halving will impact BTC price, why Bitcoin’s volatility is set to remain in the double-digits for years to come, and miners’ ability to hedge their operations via hash rate derivatives. According to Rosen: “Any maturing asset goes through experiences of high volatility when it first launches, and if you compare Bitcoin to the tech stocks of the early 90s, like Apple and Google, their volatility was astronomical. Bitcoin has also touched crazy high levels of volatility in the 70% to 100...

Two investment moguls are betting on different directions for inflation and Treasury yields, with potentially negative impacts on Bitcoin. Warren Buffett and Bill Ackman are two of the most successful investors in the world, but they have taken opposing views on the bond market in recent months. Only one can be right. Billionaire investor Bill Ackman says he is shorting US Treasuries. if long-term inflation is 3% not 2%, the 30y Treasury yield could rise to 5.5%. In contrast, Warren Buffett has announced buying positions in 10y US Treasuries. Shorting US 10y bonds seems… pic.twitter.com/X2zSPzJ91Y — Holger Zschaepitz (@Schuldensuehner) August 5, 2023 Buffett has been buying short-term Treasury bills, while Ackman has been shorting long-term Treasury bonds. Could both of these investors be right? Warren Buffett is the chairman and CEO of Berkshire Hathaway, one of the world's largest investment holding companies. Buffett’s worth is estimated to be over $100 billion. Bill Ackma...