For now, charts suggest further upside in bitcoin if a breakout above $66,000 is confirmed this week. “Bitcoin has ample room to rise on the technical analysis side, as the bulls have built-up strength during the first cryptocurrency’s month-long consolidation,” Alex Kuptsikevich, a market analyst at FxPro, wrote in an email to CoinDesk. Source link … [Read more...] about Bitcoin Rises as Central Banks Maintain Low Rates
Rates
Bitcoin sheds 6% in battle for all-time high support amid falling funding rates
Bitcoin (BTC) briefly dipped below $63,000 on Oct. 21 as a standard correction cooled the market.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin battles for new support at old peakData from Cointelegraph Markets Pro and TradingView followed BTC/USD as it came off all-time highs above $67,000 to hit lows of $62,860 on Bitstamp.The roughly 6% drop from its peak … [Read more...] about Bitcoin sheds 6% in battle for all-time high support amid falling funding rates
Peak fear? Bitcoin funding rates crash to lowest levels in 7 months
The funding rate of Bitcoin (BTC) has dropped to levels not seen since September 2020 as the price of Bitcoin plummeted below $52,000 on April 18. Quant trader and analyst Lex Moskovski says it shows fear has returned to the market.According to the data from Glassnode, the average Bitcoin futures funding rate across all exchange dropped to as low as around -0.03% on SundayWhat … [Read more...] about Peak fear? Bitcoin funding rates crash to lowest levels in 7 months
Ethereum on-chain metrics may spell trouble with funding rates at unsustainable levels
Ethereum on-chain metrics may spell trouble with funding rates at unsustainable levels | CryptoSlate Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Start Earning Interest News › Ethereum › Analysis On-chain data suggests that Ethereum may be bound for a correction even after entering price discovery mode. Ali Martinez · April 11, 2021 at … [Read more...] about Ethereum on-chain metrics may spell trouble with funding rates at unsustainable levels
Data shows funding rates for Bitcoin are “warming up again”
On-chain data for funding rates shows traders are once again piling into Bitcoin, the world’s largest cryptocurrency by market cap.Funding rates are an indicator of increased trading activity. Perpetual swap products allow traders to borrow in excess of the funds they hold—a process called using leverage—to place bigger bets for more gains while putting up a smaller amount of … [Read more...] about Data shows funding rates for Bitcoin are “warming up again”