A blockchain indicator tracking the flow of coins in and out of centralized exchanges is signaling a bearish shift in investor sentiment similar to the one seen before the May 2021 crash.Glassnode data shows the 90-day moving average of net exchange flows has turned positive, meaning more coins are entering exchanges than leaving.Sustained net inflows, if any, would be a cause … [Read more...] about Bitcoin’s Net Exchange Flows Flip Bearish As Cryptocurrency Struggles For Directional Bias
Struggles
Bitcoin Struggles to Break $47K as Fed Meeting Looms
Lennard Neo, head of research at Stack Funds, attributed the cryptocurrency’s recent drop to the market uncertainty leading investors to take risk off the table. Bitcoin is seen by some investors as a risk-on asset, which generally refers to assets that have a significant degree of price volatility such as industrial metals, equities and commodities. All things being equal, … [Read more...] about Bitcoin Struggles to Break $47K as Fed Meeting Looms
Bitcoin Struggles Below $50K After Crypto CEOs Took Center Stage
Bitcoin failed to hold above the $50,000 mark and was down 4.2% over the past 24 hours.The largest cryptocurrency was looking weak on Thursday, a day after CEOs from six major crypto firms spoke before the U.S. House of Representatives Financial Services Committee.The hearing, which clocked in as one of the longest Congressional hearings on crypto, lasted almost five hours. … [Read more...] about Bitcoin Struggles Below $50K After Crypto CEOs Took Center Stage
Bitcoin Struggles Near Resistance; Support at $53K
The short-term downtrend in BTC is defined by a series of lower price highs since Nov. 10 as seen in the chart above. Recently, oversold signals appeared on the charts, which could encourage short-term buying from the $53,00 support level. A decisive break above $60,000 would reverse the short-term downtrend. Source link … [Read more...] about Bitcoin Struggles Near Resistance; Support at $53K
Stacks Network’s STX Token Jumps 50% While Bitcoin Struggles Amid Seesawing Fed Rate-Hike Bets
In July, Dorsey said Square would launch a platform for developers to create “decentralized finance” projects built on bitcoin. At Twitter, Dorsey spearheaded Bluesky – a project aimed at turning the social media company into a decentralized protocol. According to Platformer’s Casey Newton, Twitter’s new CEO, Parag Agarwal, has been among executives most focused on … [Read more...] about Stacks Network’s STX Token Jumps 50% While Bitcoin Struggles Amid Seesawing Fed Rate-Hike Bets