TA: Bitcoin Price Surges 6%, Why Recent Breakout Looks Real

Bitcoin price found support above $22,500 and surged over 6% against the US Dollar. BTC broke many hurdles and might rise further towards the $25,000 resistance. Bitcoin started a fresh increase after it found strong bids above $22,500. The price is now trading above the $23,500 level and the 100 hourly simple moving average. There was a break above a …

Ethereum L2 TVL Enjoys 284% Growth In The Past Month Ahead Of Goerli Merge

Total value locked (TVL) on Optimism, a layer-2 scaling solution for the Ethereum blockchain, has increased 284% in the last month, according to data from DefiLlama. Users lending and borrowing assets on Aave through Optimism’s layer-2 chain make up the vast majority of TVL. Ethereum Optimism TVL Surges In anticipation of The Merge update, which will see the blockchain switch …

Bearish Signal: Why Bitcoin Miner Sell-Offs May Continue

Bitcoin miners have borne the brunt of the bear trend since it began. They watched cash flow plummet on their machines, forcing them to look to other ways to finance their operations. The natural response to this was for public miners to dip into their bitcoin reserves and begin selling off BTC to keep their operations going. For a time, …

Bitcoin Surge Towards $24k As CPI Report Show Inflation Cooling

Bitcoin surged after July’s CPI data showed that inflation has started to decline after several months of record-breaking rates. Similar to earlier instances, the price of bitcoin climbed close to $24,000. CPI Report Boost Bitcoin Price According to the Consumer Price Index report (CPI) that the U.S. Bureau of Labor and Statistics released on Wednesday, consumer costs remained unchanged, putting …

Money On The Sidelines: Crypto Traders Accumulate Highest Buying Power In Two Years

The crypto market has been trading in the green over today’s session as it sees some relief from macro-economic factors. Today, the U.S. published July’s Consumer Price Index (CPI) print which hinted at a slowdown in inflation and allow Bitcoin, Ethereum, and others to experience some relief. CPI has been a key metric over the past months as the U.S. …

Ethereum Open Interest Nears All-Time Highs Ahead Of Merge

Data shows the Ethereum open interest has surged up to near all-time high values as the ETH 2.0 merge comes closer. Ethereum Open Interest Has Sharply Risen Up Recently As per the latest weekly report from Arcane Research, the ETH open interest in futures and perps has surged up to 4.2 million ETH in recent days. The “open interest” is …

TA- Binance Coin Continues To Look Strong Despite Altcoins Shakeout

The price of Binance coin (BNB) continues to look strong as it holds its support against Tether (USDT) after the Consumer Price Index (CPI) announcement. The CPI tends to provide a gauge as regards inflation in the economy while instigating BTC prices and other altcoins. Bitcoin’s (BTC) price saw a pullback from $24,200 to $22,800 despite showing signs of a …

TA- Bitcoin Bounced off Key Support After CPI Announcement

The price of Bitcoin (BTC) bounced off its key support against Dollars (USD) after the Consumer Price Index (CPI) announcement in the United States. The metric is used to measure inflation in U.S. dollar and hints at a potential slowdown.  Bitcoin price saw a pullback from $24,200 to $22,800 despite showing signs of relief rally but was faced with resistance …

Recovery Market Sentiment Sees Investors Take More Risk With Altcoins

Crypto investors had been moving out of altcoins through the market downtrend due to the high volatility that rocked these digital assets. As a result, the fall in these altcoins was more brutal than that recorded in bitcoin. However, as the tide has begun to turn and the market is looking towards more of a bullish trend, these altcoins have …