Some market analysts are worried that the market is becoming frothy due to the recent increase in open futures contracts for Bitcoin. Open interest (OI) in Bitcoin has skyrocketed, surpassing $35 billion, a mark that has traditionally been associated with local price peaks. One important indicator that investors use to
Bitcoin’s highly anticipated ‘Uptober’ began on a bearish note, as the cryptocurrency dropped to a two-week low of $60,164. The global crypto market cap also saw a significant dip, standing at $2.15 trillion—a 4.66% decrease in just 24 hours. This came alongside a surge in trading volume, up by 52.59%
The US economy shrank last month, according to the most recent US PMI data from S&P Global, which caused a decline in the price of bitcoin today. The data indicates that the US manufacturing PMI was about 47, a little lower than the number from the prior month. Notably, traders
With the new month bringing glad tidings for some, the digital assets community anticipates bullish rallies and god candles. In the midst of investors’ expectations, Uptober faces pressures for significant price actions. However, in the Asian early morning hours, the cryptocurrency market has receded to a mild price dip sending
Bitcoin (BTC) has been through several hurdles over the past month. BTC recently surpassed the $65,000 resistance mark, drawing attention within the crypto market. However, the upward momentum was short-lived as the price dipped to previous lows. The asset opened September by trading at $59K; as days progressed, BTC has
One of the most important factors in the future of Web3 and cryptocurrency, according to CryptoQuant CEO Ki Young Ju, is regulation. Ju said in an X post from September 29 that crypto and Web3 could “thrive responsibly” if the appropriate regulations were in place to reduce the prevalence of
In anticipation of impending legislation, the Dutch Financial Markets Authority (AFM) issued a warning against the dangers of pump-and-dump schemes using cryptocurrencies. On December 30, the Markets in Crypto-Assets Regulation (MiCA) will be put into force. As stated in an official press release by the AFM. Market manipulation methods, such
With inflows of almost $1.1 billion, the United States spot Bitcoin exchange-traded funds had their best week since July 15-19. According to Farside Investors, the best-performing day since June 4 was on September 27th, when $494.4 million was added. The spot Bitcoin ETFs raised $366 million on September 26th, the
With US job statistics due out soon, the crypto market is bracing for a pivotal week. Especially in light of last week’s weaker US PCE inflation statistics, this data would be useful for investors in gauging fourth-quarter market patterns. With anticipation building for a possible “Uptober” surge, traders will also
Bitcoin (BTC) has been making a notable comeback this week, peaking at $66,376—an increase of 1.29% against the U.S. dollar on the day and a solid 5% gain over the past week. After nearly two months of consolidation, Bitcoin appears to be entering a more favorable trend. On September 27,
