Weak stocks and declining DeFi use continue to weigh on Ethereum price

weak-stocks-and-declining-defi-use-continue-to-weigh-on-ethereum-price

Crumbling tech stock prices, declining DApp use and bearish derivatives data continue to pin ETH price below $2,000. Ether’s (ETH) 12-hour closing price has been respecting a tight $1,910 to $2,150 range for twelve days, but oddly enough, these 13% oscillations have been enough to liquidate an aggregate of $495 million in futures contracts since … Read more

Bitcoin’s current setup creates an interesting risk-reward situation for bulls

bitcoin’s-current-setup-creates-an-interesting-risk-reward-situation-for-bulls

A slight improvement in equities markets and the resilience of a few key BTC price metrics are giving bulls hope of a reversal. The Bitcoin (BTC) chart has formed a symmetrical triangle, which currently holds a tight range from $28,900 to $30,900. This pattern has been holding for nearly two weeks and could potentially extend … Read more

State Of The Bitcoin Derivative Market

state-of-the-bitcoin-derivative-market

The bitcoin derivatives landscape plays a major role in the bitcoin price in the short term. We have yet to see signs of a bitcoin macro bottom. The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and … Read more

Altcoin prices briefly rebounded, but derivatives metrics predict worsening conditions

altcoin-prices-briefly-rebounded,-but-derivatives-metrics-predict-worsening-conditions

Declining demand for Tether and negative futures premiums for altcoins reflect a growing disinterest from crypto investors. On May 12, the total crypto market capitalization reached its lowest close in 10 months and the metric continues to test the $1.23 trillion support level. However, the following seven days were reasonably calm while Bitcoin (BTC) gained … Read more

Lost SOL? Persistent challenges continue to impact Solana price

lost-sol?-persistent-challenges-continue-to-impact-solana-price

SOL price has been repeatedly knocked down by network outages, a shrinking total value locked on the network and futures traders’ disinterest in trading the altcoin. The past thirty days have been an extremely bearish time for cryptocurrencies. The sector’s aggregate market capitalization plunged 33% to $1.31 trillion and Solana’s (SOL) downfall has been even … Read more

2 key Ethereum price metrics suggest traders will struggle to hold the $2K support level

2-key-ethereum-price-metrics-suggest-traders-will-struggle-to-hold-the-$2k-support-level

ETH bulls are aiming to flip $2,000 back to support, but these two metrics point toward further downside. Ether (ETH) price has been trying to establish an ascending channel since the May 12 market-wide crash that sent its price to $1,790. Currently, the altcoin’s support stands at $2,000, but the high correlation to traditional markets … Read more

Bitcoin bulls aim to flip $30K to support, but derivatives data show traders lack confidence

bitcoin-bulls-aim-to-flip-$30k-to-support,-but-derivatives-data-show-traders-lack-confidence

The BTC futures premium flashed a slightly positive reading, but options markets show extreme fear from whales and market markers. Bitcoin (BTC) bounced 19% from the $25,400 low on May 12, but has investor confidence in the market been restored? Judging by the ascending channel formation, it’s possible that bulls at least have plans to … Read more

The Brazilian Stock Exchange will launch Bitcoin and Ethereum futures

the-brazilian-stock-exchange-will-launch-bitcoin-and-ethereum-futures

Chief financial officer André Milanez said that the product will launch within the next si months. B3, the Brazilian Stock Exchange, confirmed that within six months it intends to launch its first official product aimed at the cryptocurrency market — Bitcoin (BTC) futures trading. The group’s chief financial officer, André Milanez, made the announcement during … Read more

Bitcoin and Ethereum had a rough week, but derivatives data reveals a silver lining

bitcoin-and-ethereum-had-a-rough-week,-but-derivatives-data-reveals-a-silver-lining

BTC, ETH and altcoin prices were crushed this week, but the futures funding rate shows retail traders are not ready to become permabears. This week the crypto market endured a sharp drop in valuation after Coinbase, the leading U.S. exchange, reported a $430 million quarterly net loss and South Korea announced plans to introduce a 20% … Read more