Bitcoin Koers Vlakbij $20.000: Breken We Uit, of Dalen We Verder?

Afgelopen zaterdag dook de bitcoin (BTC) koers onder de cruciale prijsgrens van $20.000, een eerdere all-time high (ATH). Op dit moment proberen de bulls om dit prijsniveau echter weer te heroveren met tot nu toe nog geen succes. Bitcoin koers vlak onder $20.000 Sinds afgelopen zaterdag wist de BTC koers met ruim 10% in

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Bitcoin below $20,000: what kind of crypto winter should investors expect

The post Bitcoin below $20,000: what kind of crypto winter should investors expect appeared first on Coinworldstory.

Bitcoin continued to fall in price against the backdrop of a decline in the traditional stock market and accelerating inflation, breaking the low of December 2020, pulling ether and other cryptocurrencies with it. On the morning of June 18, the first cryptocurrency  collapsed  to $19,000. Thus, BTC for the first time since December 15, 2020 […]

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TA: Bitcoin Recovery Stalls Near Key Juncture, Key Resistance Intact

Bitcoin started an upside correction from the $17,600 zone against the US Dollar. BTC is now facing a strong resistance near $20,500 and $21,000. Bitcoin was able to recover losses from the $17,600 support zone. The price is now still below the $20,000 level and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $19,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair remains at a risk of a fresh decline unless it settles above the $21,000 resistance zone. Bitcoin Price Eyes Steady Recovery Bitcoin price followed a bearish path and declined sharply below the $20,000 support zone. It declined over 10% and even spiked below the $18,000 level. A low was formed near $17,600 before the price started an upside correction. There was a recovery wave above the $18,000 and $18,500 resistance levels. Besides, there was a break above a key bearish trend line with resistance near $19,200 on the hourly chart of the BTC/USD pair. Bitcoin climbed above the 50% Fib retracement level of the key decline from the $22,950 high to $17,600 low. The price even spiked above the $20,000 level and the 100 hourly simple moving average. However, the bears were active near the $20,500 and $20,750 levels. The 61.8% Fib retracement level of the key decline from the $22,950 high to $17,600 low also acted as a resistance. The price is now trading below the $20,000 level and the 100 hourly simple moving average. Source: BTCUSD on TradingView.com An immediate resistance on the upside is near the $20,200 level. The first major resistance is near the $20,500 level. Any more gains might send the price towards the $21,000 level. A close above the $21,000 level could set the pace for a larger increase. Fresh Decline in BTC? If bitcoin fails to clear the $20,500 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $19,500 level. The next major support is near the $18,800 level. A downside break below the $18,800 support could spark a sharp decline. In the stated case, the price could test $17,600. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now just above the 50 level. Major Support Levels – $19,500, followed by $18,800. Major Resistance Levels – $20,200, $20,500 and $21,000.

Bitcoin Balansen van Exchanges Nemen in Rap Tempo Af

De bitcoin (BTC) koers zit al een tijd in een diep dal. Voor investeerders is het wachten op de bodem, maar waar die ligt weet niemand. Toch zien we hier en daar voorzichtig wat positieve signalen. Zo liet on-chain analyseplatform Santiment gisteren in een tweet zien dat de bitcoin balansen op exchanges

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Bitcoin Derivatives Exchange Reserve Surges Up As BTC Continues To Plunge

On-chain data shows the Bitcoin reserve of derivative exchanges has surged up recently as the price of the crypto has continued to crash down. Bitcoin Derivatives Exchange Reserve Observes Sharp Uptrend As explained by an analyst in a CryptoQuant post, the crashing BTC price may be forcing whales and long-term holders to open short positions in order to hedge their portfolios. The “derivative exchange reserve” is an indicator that measures the total amount of Bitcoin currently present on wallets of all derivative exchanges. When the value of this metric goes up, it means coins are entering into derivative exchanges right now. Such a trend may mean investors are opening leveraged positions at the moment, which can result in higher volatility in the value of the crypto. On the other hand, a downtrend in the indicator implies investors are withdrawing their coins from these exchanges currently. Now, here is a chart that shows the trend in the Bitcoin derivative exchange reserve over the past year: The EMA 7 value of the metric seems to have observed some uptrend recently | Source: CryptoQuant As you can see in the above graph, the Bitcoin derivative exchange reserve had been heading down for quite a while, until recently when the indicator’s value once again started rising up. Recent data suggests that the crash in the coin’s price has pushed around 50% of the total BTC supply into loss. Based on this, many long-term holders and whales are also bound to be underwater right now. Related Reading | Bitcoin Breaches $19K Level – Will Selloff Continue? What’s The Next Bottom? The quant believes that the uplift in the derivative reserve is because of these long-term holders and whales panicking about their portfolios losing value. These holders are looking to hedge their portfolios and reduce risk by opening short positions on derivative exchanges. The analyst points out, however, that such aggressive shorting would create even more selling pressure, causing the price to see further drawdown. Related Reading | Bitcoin Long-Term Holders Now Own Nearly 80% Of Realized Cap But another possibility also arises from this situation, and that would a huge short squeeze. A lot of demand and a sudden reversal in the price of Bitcoin will need to occur before such an event can take place. The quant thinks it may take more time and further decline in the value of the crypto for the correct conditions to align for it. BTC Price At the time of writing, Bitcoin’s price floats around $19.3k, down 29% in the last seven days. Over the past month, the crypto has lost 33% in value. Looks like the value of BTC has rebounded back a little after a dip below $18k | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com

Bitcoin Hashrate Slams Down After New ATH As Price Continues Struggle

Data shows the Bitcoin mining hashrate has already plunged down since the new all-time high as the crypto’s price has continued to struggle. Bitcoin Weekly Hashrate Sharply Trends Downward The “mining hashrate” is an indicator that measures the total amount of computing power connected to the BTC network. When the value of this metric rises, […]