Soaring Treasury yields are worrying economists — But what does this mean for Bitcoin?
Soaring Treasury yields are worrying economists — But what does this mean for Bitcoin? Soaring Treasury yields are worrying economists — But what does this mean for Bitcoin? This week’s correction in the price of Bitcoin (BTC) showed that a market doesn’t go up in a straight line. Meanwhile, another topic has been gaining attention, namely the big rise in the 10-year yields of United States government bonds. In recent weeks, the 10-year Treasury yield of U.S. government bonds has surged 35% to a new high of 1.44%, the highest point since the cross-asset crash in March 2020. Treasury yield bounces from a 60-year low
The 10-year Treasury yield has been accelerating massively in recent weeks, similar to the run-up to the economic downturns in 2000 and 2008. Hence, rising yields are typically considered a signal of weakness for the economy and can have a big impact across many markets. As the yields increase, governments must pay more for their underlying government bonds. This combined with the current economic conditions of the post-COVID-19 era and record national debt are factors that are unsurprisingly worrying economists. However, looking at the chart above from a technical perspective, this entire run can still be considered as a simple bearish retest of the previous support level. Such an example is shown by the previous attempt to test the resistance above. This could be happening here as well, where the rates will then drop back down from the 1.53% level. But it is important to keep an eye on this level because breaking through it can have a major impact on the markets. The government bond yields also have an impact on mortgage markets. Given that the real estate market is massively overheated at the moment, with people taking on massive debt to purchase homes, an increase in interest rates could pop this entire bubble, similar to what happened in 2008. However, yields also impact other markets, as gold often reacts to these moves as well. But is this time different? And how will Bitcoin respond to these potential macroeconomic shocks? weakening dollar vs. Bitcoin
The U.S. dollar currency index (DXY) index continues to show weakness as yields are rising, which is generally good news for Bitcoin bulls. This suggests that investors are fleeing the dollar toward higher risk, higher reward investments, such as Bitcoin. However, from a technical perspective, the DXY saw a bearish retest at 91.50 points, followed by more downside for the dollar, as seen in the chart above. Now, a retest of the 90 points level is underway, with the primary question being whether this level will hold as support.
Nevertheless, it’s debatable whether the rise in yields is having any direct effect on the price of Bitcoin, particularly in recent days. Meanwhile, the DXY has often been inversely correlated with the price of Bitcoin, though this has been decreasing in recent months (see below).
After the crash in March 2020, this inverse relationship grew stronger until September 2020, as a weakening dollar was accompanied by a major increase in BTC price. Of course, assets are only correlated until they aren’t, and many other factors can have a much bigger impact on BTC in the short term — for example, miners or whales selling Bitcoin, government regulations, etc. Why is gold showing weakness?
The 3-day chart for gold’s price shows a clear-cut correction since August 2020. More importantly, the increase in yields and the weaker dollar have not impacted the gold market as much as Bitcoin’s market. Even with the recent surge in yields, people are not buying gold. In fact, an increase in yields has historically not benefitted gold — at least not in the short term — because higher yields would make government bonds more attractive for funds to hold for settlement and as a risk-off asset in their portfolios. When yields continue rising toward higher levels, however, the uncertainty surrounding the economy also increases, and investors typically begin to shift from the dollar to gold as a safe haven. This was seen in the 1980s when yields ran toward 14% and gold also spiked to new all-time highs. BTC has become increasingly important in macroeconomicsIn the current state, however, falling gold prices may simply be an immediate reaction to the increase in yields in general. However, another possibility is that an increasing number of investors are opting for “digital gold” instead of the precious metal, not only because of the higher upside potential — i.e., risk-reward — but also because these positions can be liquidated much easier. But another possibility is that an increasing number of investors are preferring “digital gold” to the precious metal — not only because of the higher upside potential but also because these positions can be liquidated much easier on digital trading platforms. 11 August 2020, dotted blue line, US corporations led by $MSTR begin buying #bitcoin as a treasury asset. pic.twitter.com/LEMNzwqQru — Willy Woo (@woonomic) February 25, 2021 Today, the market capitalization of Bitcoin is still only 7% to 10% of gold’s, which highlights this massive upside potential. Therefore, the macro conclusion that can be drawn is that the markets are becoming increasingly uncertain about the economy’s and the dollar’s future, as exemplified by the rising 10-year Treasury yields. However, it’s still too early to write off the recent correction in BTC price to this macroeconomic development, as multiple other variables are at play. Ultimately, the rising yields and a weakening dollar are exciting developments to keep an eye on moving forward. With Bitcoin becoming an increasingly important player in the macroeconomic environment, strategists at JPMorgan Chase, for example, believe BTC may continue to eat away at gold’s market share. This will likely result in an even higher valuation for Bitcoin, particularly in the event of another economic crisis at the expense of gold. In December 2020, JPMorgan strategists noted: “The adoption of bitcoin by institutional investors has only begun, while for gold, its adoption by institutional investors is very advanced. If this medium to longer-term thesis proves right, the price of gold would suffer from a structural headwind over the coming years.” author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision. Title: Soaring Treasury yields are worrying economists — But what does this mean for Bitcoin?
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What Bitcoin price levels will invalidate the short-term bearish scenario?
What Bitcoin price levels will invalidate the short-term bearish scenario? What Bitcoin price levels will invalidate the short-term bearish scenario? The price of Bitcoin (BTC) is continuing to range between $48,000 and $51,000, unable to break out of the $51,600 resistance level. If Bitcoin struggles to surpass the $51,600 resistance area in the near term, technical analysts say the probability of a correction rises.
$51,600 is the key level to watchAccording to Josh Olszewicz, a cryptocurrency trader and technical analyst, the $51,600 level is currently acting as a strong resistance level. For Bitcoin to retest the all-time high at $58,000 and initiate a potential rally towards $62,000, it needs to cleanly move past $51,600, he explained. Hence, a rally beyond $51,600 is the clear invalidation point for any short-term bearish scenario for Bitcoin. The failure to break out in the near term could result in a bearish test of lower support areas, found at around $42,000. He said: “If 4h breaks down, be prepared for some uber bearish calls to start popping at 36.7k meanwhile, I’ll be bidding the daily Kijun at 42k. Alternatively, if $BTC breaks above 4h Cloud at 51.6k, I like ATH retest at 58k, R3 yearly pivot test at 62k, macro PF diag test at 70k, R4 yearly pivot test at 80K. Seasonality suggests we go neutral/sideways through March and then reach for those higher targets in Q2.” The $42,000 support area is a key level because it marks the top of the previous rally. On Jan. 8, the price of Bitcoin peaked at $42,085 on Binance, seeing a steep correction afterwards. Bitcoin dropping to $42,000 to retest the previous top as a support area would not be necessarily bearish beyond the short term, however. Whale clusters show similar levels of supportMoreover, analysts at Whalemap noted large inflows to whale wallets at $48,500 and $46,500, which they say should provide BTC with some support. “The current situation looks similar to the one we had at 29K,” they explained. What’s more, the $46,532 level may now be “the new $29,000,” which held as support during the previous correction in January before the rally continued. They added: The $55,400 is an important level to keep an eye on as well. Getting back above it will be a good sign The most compelling argument for a short-term Bitcoin dropBitcoin tends to seek liquidity after a prolonged consolidation, which means it can drop down to fill buy orders at lower support areas that can ultimately fuel a new rally. A pseudonymous trader known as “Salsa Tekila” echoed this sentiment. He said that there is a big support area at $41,000, followed by resistance at $54,000. He wrote: “My current take on $BTC mid term: 1) Support around $41K. 2) Resistance around $54K. Depending on context, I might trigger swings around those two vicinities. Likely just scalp until then, unless major events come to fruition.” Bitcoin tested the $44,800 support level in the past 72 hours, but it was not enough to propel BTC above $51,600. This trend could cause the price of Bitcoin to drop back to the $44,800 level or to a lower support level, at $42,000. The ideal scenario would be for Bitcoin to hold onto the $44,800 support area if it drops again, stabilize it as a macro support level, and move back up. Title: What Bitcoin price levels will invalidate the short-term bearish scenario?
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Traders remain bullish even as DeFi’s TVL falls to $54.4 billion
Traders remain bullish even as DeFi’s TVL falls to $54.4 billion Traders remain bullish even as DeFi’s TVL falls to $54.4 billion Decentralized finance and the numerous platforms offering investment services have been the talk of the cryptocurrency sector for several months, and this has resulted in investors capturing spectacular gains for some of the top DeFi tokens like Uniswap’s UNI and AAVE. The fast-moving prices and 1,000% annual percentage yield on staked tokens elicited cheers from investors when the market was going up, but the recent selling pressure seen as Bitcoin’s (BTC) price dropped below $45,000 shows that the highest fliers are often the quickest to fall as traders rush to exit their positions and lock in their gains.
On Feb. 22, Bitcoin’s price entered a sharp corrective phase that saw the top digital asset pull back by more than 20% from its all-time high of $58,274. As this occurred, the majority of altcoins also saw double-digit corrections, and DeFi tokens like PancakeSwap’s CAKE fell as much as 55%. Total value locked in DeFi shows resilienceThe total value locked (TVL) in DeFi platforms also took a hit as Bitcoin and altcoins corrected. Data from DeFi Llama shows the combined TVL of all DeFi platforms fell from $64.89 billion to $54.22 billion on Feb. 24. Cointelegraph also reported that this week’s correction led to the second-largest day of DeFi loan liquidations in history.
The decline in TVL is a result of decreasing token values rather than protocol outflows, indicating that tokenholders remain committed to the continued expansion of decentralized finance and that the current yields are still incentivizing investors to remain engaged. Market analysis indicates that despite the recent $5.8-billion Bitcoin and altcoin liquidation, bulls remain optimistic and see this price pullback as a sign of a healthy market. The same goes for the DeFi sector, which has been in a strong uptrend since the start of the year. Increasing DEX volume and as a rising TVL show that DeFi is still in the early stages of growth, and while pullbacks are to be expected, the overall trend is positive as institutional and retail investors increasingly gain exposure to this emerging asset class. Title: Traders remain bullish even as DeFi’s TVL falls to $54.4 billion
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Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together Traders remain bullish even as DeFi’s TVL falls to $54.4 billion Traders remain bullish even as DeFi’s TVL falls to $54.4 billion was originally published here https://topnewsscoop.blogspot.com/2021/02/traders-remain-bullish-even-as-defis.html Traders remain bullish even as DeFi’s TVL falls to $54.4 billion was originally published here https://tracyslowik.blogspot.com/2021/02/traders-remain-bullish-even-as-defis.html
Sam Bankman-Fried: The crypto whale who wants to give billions away
Sam Bankman-Fried: The crypto whale who wants to give billions away Sam Bankman-Fried: The crypto whale who wants to give billions away
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3 reasons Bitcoin price is quickly recovering from its ‘severe’ 23% correction
3 reasons Bitcoin price is quickly recovering from its ‘severe’ 23% correction 3 reasons Bitcoin price is quickly recovering from its ‘severe’ 23% correction The price of Bitcoin (BTC) quickly recovered from around $44,800 to over $50,000 within merely 22 hours. Behind the rapid recovery are three major factors, including low funding rates, Square’s $170 million Bitcoin purchase, and the spot market stabilizing. Bitcoin futures funding rates substantially dropAcross major futures exchanges, including Binance, Bybit and Bitfinex, the funding rate of Bitcoin has dropped to 0.01%. The Bitcoin futures funding rate was consistently above 0.1% throughout the entirety of the rally from the $40,000s to $58,000.
When the futures funding rate is high, it means the market is overcrowded with buyers and the rally likely overextended. This creates a major risk of a long squeeze, which can cause the price of Bitcoin to drop quickly in a short period. With the funding rate back to 0.01%, the risk of a long squeeze is significantly lower and if a new uptrend ensues, the rally could be more sustainable.
Square buys $170 million worth of BTCOn Feb. 24, the U.S. payments giant Square bought $170 million worth of Bitcoin. This comes after purchasing $50 million worth of Bitcoin on Oct. 8 of last year. At the time, Square’s chief financial officer Amrita Ahuja said: “We believe that bitcoin has the potential to be a more ubiquitous currency in the future. As it grows in adoption, we intend to learn and participate in a disciplined way. For a company that is building products based on a more inclusive future, this investment is a step on that journey.” The additional purchase of Bitcoin by Square carries a significant meaning because it shows that the company is confident in BTC over the long term. The price of Bitcoin is substantially higher than where it was in August of last year, which indicates that as its price rises, the confidence from institutions also increases. Spot market is stabilizingWhen the price of Bitcoin was correcting, the price of Bitcoin on spot exchanges, like Coinbase, was much lower than futures exchanges On Feb. 23, for instance, Bitcoin was trading $600 lower on Coinbase at one point when the price was near $44,800. When the price of Bitcoin initially recovered from $44,800 to $48,000, there were signs of a bearish retest. John Cho, the director of global expansion at GroundX, said: “We were expecting it, but didn’t think it’d come this soon or this fast. A solid bounce from here would be ideal; but some potential retracement support regions I’m watching. My bias is towards the 40-41k region as it would fulfill a 30% correction from ATH.” Bitcoin price has recovered above $50,000 since, and that could have reduced the likelihood of a bearish retest and the potential for more downside. In the near term, if Bitcoin continues to remain above $50,600, which has turned into a support area, the probability of a rally toward the next resistance level at $56,000 rises. Lastly, such corrections are quite normal for a Bitcoin bull market cycle, as Cointelegraph previously pointed out. In fact, they were commonplace during the 2017 bull market, which had nine major pullbacks between 20–40%. But despite these reoccurring “severe” corrections, the price of Bitcoin still increased by 20 times from its previous all-time high during that year. Title: 3 reasons Bitcoin price is quickly recovering from its ‘severe’ 23% correction
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Tyler Tysdal Video Regarding Selling Your Business
Tyler Tysdal Video Regarding Selling Your Business Tyler Tysdal And Robert Hirsch Discuss Appropriate Timing of the Sale of Your Company About Freedom Factory At Freedom Factory ®, we have actually experienced and seen the explosive outcomes of entrepreneurs lining up passion and purpose to produce amazing value. However, most entrepreneurs have no idea how to make the most of the value of their service and move on to the next chapter of their lives. That's where we can assist. https://directory.libsyn.com/episode/index/id/14437211 https://oembed.libsyn.com/embed?item_id=14437211 Freedom Factory ® has actually drastically interfered with the method high-growth, lifestyle business are purchased and sold, which historically was a terribly inefficient market. When I offered my first company in the 1990s, I went to numerous financial investment banks and offered my company to among less than 5 companies they called. Recalling, I see precisely just how much cash I left on the table and knew that there needed to be a better way. The bottom line is that business owners don't speak banker, and lenders sure do not speak entrepreneur. https://twitter.com/TysdalTyler/status/1363871316126928898 Contact Freedom Factory Freedom Factory 5500 Greenwood Plaza Blvd., Ste 230 Greenwood Village, CO 80111 Phone: 844-MAX-VALUE (844-629-8258) https://www.freedomfactory.com/ Freedom Factory Managing Partner Tyler Tysdal https://vimeopro.com/freedomfactory/tyler-tysdal/video/445058690 Who is Tyler Tysdal? Tyler T. Tysdal is a lifelong entrepreneur who first found the pleasures and challenges of self-employment at the age of 14. Tyler Tysdal was a collector and trader of baseball cards and his budding entrepreneurial spirit spurred him to create Triple T's Sports Collectibles, a national mail-order trading card and souvenirs business that found a broad audience through ads in trade magazines. While market ineffectiveness were many in this pre-internet age, a young Tyler Tysdal experienced his first big business win with $14,000 a month of earnings outcome. A lot of cash for 14. It hit him during a trip with his mommy to the post workplace to mail dozens of card deliveries: He would likely be a business owner and financier the rest of his profession. Extra Websites to Follow Tyler T. Tysdal https://www.flickr.com/photos/tylertysdal/ https://twitter.com/tysdaltyler?lang=en https://sites.google.com/view/tylertysdal Watch Video Tyler Tysdal Video Regarding Selling Your Business was originally published here https://topnewsscoop.blogspot.com/2021/02/tyler-tysdal-video-regarding-selling.html Tyler Tysdal Video Regarding Selling Your Business was originally published here https://tracyslowik.blogspot.com/2021/02/tyler-tysdal-video-regarding-selling.html Charles Hoskinson Reveals Significant Updates for Cardano (ADA) as Price Attempts Recovery2/24/2021
Charles Hoskinson Reveals Significant Updates for Cardano (ADA) as Price Attempts Recovery
Charles Hoskinson Reveals Significant Updates for Cardano (ADA) as Price Attempts Recovery Charles Hoskinson Reveals Significant Updates for Cardano (ADA) as Price Attempts Recovery The decentralized open-source project running a public blockchain platform for smart contracts, Cardano, plans to implement several significant upgrades in the upcoming few months. During a recent interview, the project’s founder, Charles Hoskinson, also noted that Cardano has been negotiating potential partnerships with many industry names such as Celsius, Fireblocks, and Prime Trust. Significant Updates Coming for CardanoThe 33-year-old co-founder of Ethereum spoke about his current project’s upcoming plans during an interview with the Financial Fox. Although he failed to provide more precise information on what’s coming, he said that the network will see many “smart contract stuff” in the next up to three months. Simultaneously, the research arm of the Cardano Foundation is working on several new implementations: “We are going to be announcing several new things like a smart contract institute that specializes in smart contract development design embedded at a university.” Cardano’s founder said that he and his team have met with representatives from Prime Trust, Fireblocks, SingularityNET, and Celsius to discuss potential partnerships, such as support for Cardano. He believes that integrations on larger-scale companies like the aforementioned names could enhance the adoption of the entire ecosystem. “You need that for dApps, you need that for institutional investors to come in, you need that for all different kinds of actors, and that’s what consumes the majority of our time right now as a company.” CryptoPotato recently reported that Cardano plans to release its long-anticipated Hard Fork Combinator (HFC) called Mary on March 1st, while all quality assurance and developer checks take place on February 24th. DA’s Price Performance Cardano’s native cryptocurrency, ADA, has been among the best performers in the past several weeks by taking full advantage of the bull run. The asset entered the new year at $0.16, but it exploded in value in the following weeks. Several days ago, ADA breached $1 and continued north to a new 3-year record above $1.20. Following this 650% price surge, though, came the most recent cryptocurrency market correction. ADA traded at about $1,15 when the sentiment changed, and the bears took control. In about 24 hours, the asset plummeted by more than 30% and bottomed beneath $0.80. Nevertheless, it has reclaimed some ground since then and has neared $1 once again.
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Ethereum Price Analysis: 30% Correction in Two Days But is the Worst Over for ETH?
Ethereum Price Analysis: 30% Correction in Two Days But is the Worst Over for ETH? Ethereum Price Analysis: 30% Correction in Two Days But is the Worst Over for ETH? ETH/USD – Market Falls Of Out Rising Pirce ChannelKey Support Levels: $1465, $1425, $1358. Yesterday, Ethereum dropped to $1550 but quickly recovered by the end of the day to close the daily candle just beneath $1800. Today, the market tumbled again and declined by another 10% to reach the current $1550 level. Ethereum had slipped further earlier in the day, reaching a low of $1358 before recovering to its current rate. The support here was provided by the low seen on February 2nd, 2021, and was further bolstered by a rising trend line. If ETH closes near these levels today, it would have fallen out of the ascending price channel that it has been trading within throughout the entire period of 2021.
ETH-USD Short Term Price PredictionLooking ahead, if the bearish action continues, the first support lies at $1465 (.382 Fib & 50-day MA). This is followed by $1425, $1358 (today’s low), and $1291 (.5 Fib). Additional support lies at $1250 (downside 1.618 Fib) and $1173 (100-days EMA). On the other side, the first resistance lies at $1600. This is followed by $1681 (previous channel support – now resistance), $1700, $1765, and $1800. The daily RSI took a precipitous drop over the past few days as it fell from the bullish favor into extreme bearish territory. It has not been this bearish for quite some time, and we have to go all the way back to September to see a similar level. This is quite a promising situation as it gave the momentum an opportunity to reset after being parabolic for an extended period. ETH/BTC – Bulls Attempting To Defend 200-days EMAKey Support Levels: 0.0318 BTC, 0.03 BTC, 0.0295 BTC. Against Bitcoin, Ethereum is also struggling quite significantly as it spikes as low as 0.03 BTC today. The cryptocurrency has now established a descending price channel and is trading above the midline of the channel. It started the month by hitting a fresh 2021 high at 0.046 BTC but quickly rolled over from here to begin the downtrend. After hitting 0.03 BTC today, the bulls quickly regrouped to bring the price back above 0.032 BTC (200-day EMA). A break beneath this 200-days EMA might send Ethereum into an extended bearish spiral over the next few weeks.
ETH-BTC Short Term Price PredictionLooking ahead, the first support lies at 0.0318 BTC, which is combined support provided by the 200-days EMA, the December 2020 highs, the .618 Fib, and a downside 1.618 Fib Extension. Beneath this, support lies at 0.03 BTC, 0.0295 BTC (downside 1.272 Fib Extension), and 0.0284 BTC (Feb 2020 Highs). On the other side, the first level of resistance now lies at 0.0337 BTC (Nov 2020 Highs). This is followed by 0.035 BTC, 0.0361 BTC, and 0.038 BTC. The RSI has been in bearish territory for most of February for ETH/BTC. It is starting to level out today, which could suggest the bearish momentum is ready to start fading. Title: Ethereum Price Analysis: 30% Correction in Two Days But is the Worst Over for ETH?
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Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together Ethereum Price Analysis: 30% Correction in Two Days But is the Worst Over for ETH? Ethereum Price Analysis: 30% Correction in Two Days But is the Worst Over for ETH? was originally published here https://topnewsscoop.blogspot.com/2021/02/ethereum-price-analysis-30-correction.html Ethereum Price Analysis: 30% Correction in Two Days But is the Worst Over for ETH? was originally published here https://tracyslowik.blogspot.com/2021/02/ethereum-price-analysis-30-correction.html
Pro traders went long as Bitcoin fell to $45K, liquidating $5.9B in futures
Pro traders went long as Bitcoin fell to $45K, liquidating $5.9B in futures Pro traders went long as Bitcoin fell to $45K, liquidating $5.9B in futures In the past 48 hours, Bitcoin’s (BTC) price has dropped by $13,360 and more than $2.6 billion worth of futures contracts have been liquidated. When including altcoins, the total sum of liquidations equaled $5.9 billion. After marking a record-high open interest at $19.5 billion on Feb. 21, the metric has stabilized at $16.5 billion. This means that half of the terminated leverage positions have been reopened. According to the top traders’ long-to-short data and various funding rate indicators, retail traders took the largest hit. Top traders bought the dipThe top traders’ long-to-short indicator is calculated by using clients’ consolidated positions, including spot, margin, perpetual and futures contracts. Unlike the futures premium or options skew indicators, this metric gathers a broader view of professional traders’ effective net position.
Despite the discrepancies between crypto exchange methodologies, analyzing changes over time provides valuable insights. Top traders at Huobi held a 0.81 long-to-short ratio on Feb. 20, favoring shorts by 19%. By adding net long positions over the following 48 hours, the indicator peaked at 0.95, indicating that buy-side activity prevailed. OKEx top traders were aggressive net buyers over the past three days. Starting from a 0.86 indicator favoring shorts by 14%, they’ve managed to revert it to a 69% net buyer position. Lastly, Binance top traders started at 1.36, favoring net longs, but were either liquidated or opened net shorts until reaching the current 1.23 level. Either way, those traders haven’t been adding positions over the past three days. Overall, the average top traders’ long-to-short position went from 1.01 (flat) on Jan. 20 to the current 1.37 favoring net longs. Therefore, it’s clear that arbitrage desks and whales increased their longs throughout the liquidations. The reduced funding rate shows retail investors reduced their longsIf top traders are net buyers, then retail must be holding the other end, even if that happened through leveraged long liquidations. To keep a balanced risk exposure, derivatives exchanges charge either perpetual futures longs (buyers) or shorts (sellers) a fee every eight hours. Known as the funding rate, this indicator will turn positive when longs are the ones demanding more leverage. On the other hand, periods of fear and heavy selling activity lead to negative funding rate turns. This time around, shorts would be the one paying up.
Since Feb. 6, the average weekly funding rate has exceeded 2.3%. That happened while Bitcoin surpassed $38,000, indicating excessively leverged retail longs. On the other hand, top traders usually opt for fixed-calendar futures in order to avoid the exorbitant funding fees during rallies. This movement faded completely on Feb. 23 as Bitcoin’s price plunged below $50,000. After briefly flirting with a negative funding rate, it has now stabilized near 0.5% per week. The metric signals that retail traders were liquidated, hence causing the indicator to return to neutral levels. Although $50,000 sounds like a meaningful psychological level, Bitcoin’s 67% year-to-date gains will likely continue to attract investors. The modest 3% performance from the S&P 500 and a 0.6% yield on five-year U.S. Treasury Notes offer no match for the potential upside that can be captured from cryptocurrencies. author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision. Title: Pro traders went long as Bitcoin fell to $45K, liquidating $5.9B in futures
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Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together Pro traders went long as Bitcoin fell to $45K, liquidating $5.9B in futures Pro traders went long as Bitcoin fell to $45K, liquidating $5.9B in futures was originally published here https://topnewsscoop.blogspot.com/2021/02/pro-traders-went-long-as-bitcoin-fell.html Pro traders went long as Bitcoin fell to $45K, liquidating $5.9B in futures was originally published here https://tracyslowik.blogspot.com/2021/02/pro-traders-went-long-as-bitcoin-fell.html 1 billion people will store life savings on their phone in Bitcoin by 2026 MicroStrategy CEO2/23/2021
1 billion people will store life savings on their phone in Bitcoin by 2026 — MicroStrategy CEO
1 billion people will store life savings on their phone in Bitcoin by 2026 — MicroStrategy CEO 1 billion people will store life savings on their phone in Bitcoin by 2026 — MicroStrategy CEO Bitcoin (BTC) will be the savings method of choice for 1 billion people on their phones by 2026, MicroStrategy CEO Michael Saylor predicted. In an interview with CNBC on Feb. 23, Saylor, whose company owns in excess of 70,000 BTC, continued his public Bitcoin advocacy, calling it “the dominant digital monetary network.” Saylor: Billions will choose Bitcoin for savingsSaylor was speaking a day after United States Treasury Secretary Janet Yellen described Bitcoin as “inefficient,” comments that accompanied a price dip of over 20% from all-time highs of $58,300. For him, however, the comments were of little consequence compared with the broader Bitcoin use case quickly encroaching into more and more people’s financial lives. “The story here that’s not being told is that Bitcoin is egalitarian progressive technology,” he told CNBC’s Squawk Box segment. “We’re going to see a day when 7 to 8 billion people have a bar of digital gold on their phone, and they’re using it to store their life savings with it.” Continuing, he cited Bitcoin’s 12-year race to becoming a trillion-dollar asset — two to four times quicker than technology giants such as Amazon, Google and Apple. “So, the world needs this thing, and I think you can expect that we’ll have a billion people storing their value — in essence, a savings account — on a mobile device within five years, and they’re going to want to use something like Bitcoin,” he added. “Bitcoin is the dominant digital monetary network.” nalyst: Tesla will “double down” on BTC holdings Saylor continues to make waves with MicroStrategy’s ongoing Bitcoin buys, the latest of which involved raising $900 million solely to add to its existing holdings. While skeptics claim that few others will follow in the company’s footsteps, another CNBC guest on Tuesday forecast that Tesla, which itself bought $1.5 billion in BTC, will “double down” on its exposure. “I think this is not just a fad. I think Tesla’s going to continue to double down on its Bitcoin investment and you’ll see it from a transaction perspective as well,” said Dan Ives, managing director and senior equity research analyst at Wedbush Securities.
BTC/USD saw a welcome reprieve on Tuesday as lows of $45,000 reversed upward on news that U.S. lawmakers had reached a settlement with stablecoin issuer Tether, ending a two-year lawsuit. At the time of writing, the pair traded above $48,000, with $50,000 appearing to act as current resistance. “As expected, ‘they’ protected the 44k level. I think $BTC will go up or sideways as there’s no more Tether FUD,” Ki Young Ju, CEO of on-chain analytics service CryptoQuant, added about whales controlling the extent of further losses. Title: 1 billion people will store life savings on their phone in Bitcoin by 2026 — MicroStrategy CEO
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Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together 1 billion people will store life savings on their phone in Bitcoin by 2026 — MicroStrategy CEO 1 billion people will store life savings on their phone in Bitcoin by 2026 — MicroStrategy CEO was originally published here https://topnewsscoop.blogspot.com/2021/02/1-billion-people-will-store-life.html 1 billion people will store life savings on their phone in Bitcoin by 2026 — MicroStrategy CEO was originally published here https://tracyslowik.blogspot.com/2021/02/1-billion-people-will-store-life.html |
Tracy SlowikI am Tracy Slowik, I have done my bachelor’s in English literature, and further on I did my master’s in Medicines. My most preferred genre of writing is health and biotech. I have been writing from the past 6 years about articles, web content, and blogs. In my career and education, I like to play along with work. I have also been a teacher in the past for 2 years. I use to teach business and technical writing in a very famous university. However, most recently I am working as an instructor, designer, and training writer. I enjoy socializing a lot. I am a very big extrovert when it comes to nature. A part from all this I enjoy exploring the world and traveling makes me happy. ArchivesNo Archives Categories |