Fun

News Feed - 2023-10-17 08:10:10

William Suberg12 hours agoBTC price holds 6% gains as Bitcoin battles for ‘crucial’ $28K supportBitcoin is at a “critical milestone” as BTC price tackles the $28,000 mark, say the co-founders of Glassnode.2821 Total views6 Total sharesListen to article 0:00Markets NewsJoin us on social networksBitcoin (BTC) passing $28,000 hints at bullish sentiment, but reclaiming it for good is essential, analysis says.


In an X (formerly Twitter) post on Oct. 17, Yann Allemann and Jan Happel, co-founders of on-chain analytics firm Glassnode, described the $28,000 mark as a “critical milestone” for the BTC price.Glassnode: “Keep an eye out” for $28,000


After snap volatility, which caused Bitcoin to hit $30,000 for the first time since August, the largest cryptocurrency has managed to preserve some of its gains.


At the time of writing, BTC/USD is circling $28,500, per data from Cointelegraph Markets Pro and TradingView — still up around 6% since the weekly open.


For Allemann and Happel, the pair is now at a defining crossroads.


“The crypto market is hinged on BTC’s ability to breach and consistently maintain a value north of $28k,” part of their commentary stated.


$28,000 has formed a battleground ever since Bitcoin first crossed it in early 2021, and liquidity has traditionally surrounded it as bulls and bears fight to secure control over long-term trajectory.


Data from the trading suite DecenTrader, among others, confirms that the status quo remains despite recent BTC price moves, with $28,000 lying in a zone between major longs and shorts of varying leverage.Bitcoin liquidity data. Source: DecenTrader


“While this pivotal milestone was momentarily attained on futures, the spot market price peaked at $27.98k earlier today. It’s evident just how crucial this price point is in the larger scheme,” Allemann and Happel added.“The rapid movements and these price thresholds aren’t just numbers. They signify investor sentiment, market dynamics. Keep an eye out for the 28k level.”BTC/USD 1-day chart. Source: TradingViewRoad to Bitcoin halving contested


As Cointelegraph reported, predictions over what the future will bring for Bitcoin both before and after its next block subsidy halving in April 2024 differ considerably.


Related: Mining BTC is harder than ever — 5 things to know in Bitcoin this week


In an interview last month, DecenTrader co-founder Filbfilb eyed BTC price galvanizing itself for upside during Q4, possibly reaching $46,000 by the halving.


Some well-known market participants, however, remain risk-averse. Among them, popular trader Crypto Tony and others are betting on a pre-halving return to $20,000 for a final local bottom.


“Many can scream they are long right now and caught that move, but if your not taking profit here at resistance your doing something wrong,” he told X subscribers about the recent surge.“I personally will not be long unless we flip that $28,500 level into support.”BTC/USD annotated chart. Source: Crypto Tony/X


This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.# Bitcoin# Bitcoin Price# MarketsAdd reactionAdd reactionRead moreETF filings changed the Bitcoin narrative overnight — Ledger CEOMacro factors to spark next crypto bull market in Q2 2024, Real Vision’s Raoul Pal saysBitcoin traders eye weekly close volatility with $27K BTC price on radar

News Feed

Cryptocurrency as Money — Store of Value or Medium of Exchange?
Cryptocurrency as Money — Store of Value or Medium of Exchange? **The following article was written by Kristoffer Mousten Hansen and Karras Lambert and published on September 28,
UK Police Seize Bitcoin Worth $2.8 Million From Teen Operating Scam Website
UK Police Seize Bitcoin Worth $2.8 Million From Teen Operating Scam Website British police have seized bitcoin worth almost $3 million from a teenager who set up a fake website to
Bitcoin will crash to $50K, 10x Research warns
Josh O"Sullivan13 hours agoBitcoin will crash to $50K, 10x Research warnsAccording to 10x Research, Bitcoin’s potential drop below $50,000 is linked to dwindling buy flows and accelerating sell flows.15400 Total views1
Editorial9 hours agoWhat will Bitcoin do if the Justice Department takes aim at Binance?If the U.S. DOJ indicts Binance executives on charges similar to those already issued by regulators, could it have an unusual effect
Mt. Gox shifts $2.5B in Bitcoin to unknown wallet, repayments top 40%
Tom Mitchelhill3 hours agoMt. Gox shifts $2.5B in Bitcoin to unknown wallet, repayments top 40%Mt. Gox transferred 37,477 BTC to a new wallet, while data shows that 40% of creditor repayments have now been distributed.23
The ECB Pushes for Digital Euro. Time to Invest in the Best Wallet Token?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Concerns mount over Ethena USDe’s promise of 27% yield following mainnet launch
Zoltan Vardai15 hours agoConcerns mount over Ethena USDe’s promise of 27% yield following mainnet launchThe attractive yield opportunity is causing widespread concern in the crypto community.2889 Total views9 Total sha
Biggest Movers: DOGE Snaps Losing Streak as SOL Hits Fresh 6-Week High
Biggest Movers: DOGE Snaps Losing Streak as SOL Hits Fresh 6-Week High Dogecoin snapped a two-day losing streak on Thursday, as sentiment in crypto markets remained bullish. The me
Skybridge Bitcoin Fund Launches With $25 Million, Expecting ‘Avalanche of Institutional Investors’
Skybridge Bitcoin Fund Launches With $25 Million, Expecting "Avalanche of Institutional Investors" Global investment firm Skybridge Capital has launched a bitcoi
Filipinos face higher fees after Binance ban
Ezra Reguerra12 hours agoFilipinos face higher fees after Binance banJay Ricky Villarante, the CEO of Moneybees, said that the decision to ban Binance reflects the importance of regulatory compliance and oversight in the
Wormhole bridge hacker from 2022 was briefly eligible for the recent airdrop
Tom Mitchelhill3 hours agoWormhole bridge hacker from 2022 was briefly eligible for the recent airdropThe hacker who once stole over $320 million from the Wormhole bridge appears to have been initially eligible to claim
DeFi rises again as Aave hits new ATH in weekly borrowers
Martin Young6 hours agoDeFi rises again as Aave hits new ATH in weekly borrowersLayer-2 chains Base and Scroll have contributed to Aave’s recent borrower and depositor growth.1096 Total views1 Total sharesListen to art