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Tag Archives: Bitcoin

Bitcoin Edging Toward $60K: Why Is the Coin Teasing?

At 11:10 GMT on Saturday, BItcoin traded at $59,785, a loss of 0.2% in the last 24 hours. As the price of the king cryptocurrency corrects, the coin continues to trade extremely close to $60k. In the past few days, Bitcoin has been able to fully recover from a fall to $52,000 toward the end of March. As this goes on, data from Santiment indicates that recent transactions from Bitcoin...

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Commodities Week in Review: March 29 to April 2

Commodities Week in Review: March 29 to April 2 Agriculture  The biggest story this week in the agricultural commodities market was the US Department of Agriculture’s (USDA) 2021 Prospective Plantings report that sent prices soaring. The USDA stated the domestic farmers will plant lower soybean and corn acreage than what market analysts had initially anticipated. This triggered a massive rally on Wednesday, hitting a daily...

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JPMorgan Sees Institutional Opportunity Due to Falling Bitcoin Volatility

A drop in volatility in Bitcoin (BTC) can have a good effect on attracting large players. At least analysts of the American bank JPMorgan think so, writes Bloomberg. According to experts, the recent decrease in cryptocurrency volatility creates conditions for the arrival of institutional investors. JPMorgan said: We believe that a potential normalization of bitcoin volatility is likely to help revive...

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Bitcoin Hits $60K, Edges Closer to Breakout

On Friday, Bitcoin briefly hit $60,000 and surged above the psychological hurdle. This is the fourth time the coin is retesting $60k in a slow grind back to its all-time high of $61,000. TradingView showed bullish tendencies remaining overnight for the BTC/USD pair. A correction below $60k pushed the king cryptocurrency back to $59,000. At 11:19 GMT on Friday, the coin was exchanging hands at $59,810, only about $200 away from $60,000...

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As the Second Quarter Begins, Bitcoin Is in Its Best Year Yet

As the second quarter begins, Bitcoin price is looking at its strongest three-month gain than any quarter since 2013. With a 103% gain in the first 3 months of 2021, the coin looks primed for more. Typically, March has been a bad month historically for Bitcoin. However, the king cryptocurrency saw a  massive increase of nearly 30% over the month is strong evidence that this year is different. Moreover, it was during this year that Bitcoin tested an all-time high of $61,000, a record high...

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Bitcoin Price Crash Paused by Goldman Sachs Entry into the Market

Bitcoin fell over $2,000 on Wednesday. The price fell from $59,400 to nearly $57,000 in just five minutes of trading. At 17:39 on Wednesday, the coin was exchanging hands at $59,122, a gain of 0.63% over the last 24 hours. Market analysts have blamed the quick fall on overleveraged long positions. The plunge liquidated about $600 million worth of extended bullish contracts across major futures exchanges. After the fall, Bitcoin maintained a short-term price floor...

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Bitcoin Gains Ground amid Falling Interest in Gold

Bitcoin (BTC) has consolidated at $59,500 as the attractiveness of gold has declined, which has already approached a nine-month low. According to Bloomberg, the precious metal is approaching its first quarterly decline since 2018. Source: denvergold.org Interest in gold is falling due to the potential for a global economic recovery, the newspaper writes. In recent weeks, the price of gold has largely declined with no chance...

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$73K Is the Next Key Level As PayPal Begins Bitcoin Payments

Bitcoin price began a rebound since the start of the week. It is once again approaching current record highs, handing the price baton back to the bulls. At 17:06 GMT on Tuesday, the price of a Bitcoin was trading at $58,791, a gain of 1.8% over the last 24 hours. In the run-up to the options expiry last Friday, Bitcoin saw price corrections throughout the week. While a rebound is not new in the cryptocurrency market, Bitcoin is currently about $1,000 away from $60,000. The consolidation...

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Year-End Bitcoin Options Contracts Increased to $300,000

In the Bitcoin (BTC) options market, call (buy) open positions ranging from $100,000 to $300,000 reached 6,700 contracts worth $385 million. These derivative contracts offer the buyer the right to buy Bitcoin for a fixed price, while the seller is obliged to trade at the said price. Seen as an effective way to take long positions, these options seem profitable, but often require quite a premium to be paid. The buyer pays an advance fee (premium)...

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Three-Quarters of the Circulating Bitcoin Last Traded for Less than $10,800

According to a study by on-chain analytics provider Glassnode, almost three-quarters of the circulating Bitcoin (BTC) was moved on the blockchain while trading below $10,800. This shows that most of the market participants are long-term investors. According to Glassnode’s A Week of the Chain report released on March 29, 25.43% of BTC in circulation most recently changed hands between $10,800...

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