Bitcoin price may rise to a new 52-week high if it can break above the ascending channel and this move could ignite the altcoins.
CME data shows Institutions are long Bitcoin while hedge funds are aggressively shorting BTC.
On-chain data shows dormant addresses are selling BTC, leading some analysts to make bearish calls on Bitcoin price.
The recent weakness in the dollar is giving Bitcoin some momentum to possibly test multi-year highs.
Bitcoin price lost the bullish energy that took the price to $11.7K earlier this week but the current range may offer opportunities to swing traders.
Bitcoin and altcoins must rebound off their immediate support levels to recapture bullish momentum and resume the uptrend.
“If you look at financial structures in history, everything worked out because of collaboration.”
Survey data show centralized exchanges are not worried about DeFi trading volumes, so why are they building their own DEXs?
Social sentiment data, strengthening fundamentals and on-chain analysis suggest Bitcoin is on the verge of a 2017-style bull run.
Tether’s USDT stablecoin dominates crypto market volumes but data shows its $15.7B market cap does not negatively impact Bitcoin’s volume.