Bitcoin Rallies To 7-Month High As Cautious Markets Eye US Election
Bitcoin was close to $73,000 on Wednesday, almost breaking its all time high just a week before the U.S. elections.
XingChiLog in/ Sign up
Did Bitcoin Whales Just Make a Fortune? Over 100,000 BTC Bought During Price Plunge
Follow
In a surprising move, Bitcoin whales have significantly increased their holdings in the digital currency amidst a recent price drop. These major investors, known for their substantial influence in the crypto market, have amassed over 100,000 BTC, valued at around $7 billion, within just a week.
Heavyweight Investment in Bitcoin ETF Signals Bullish Prospects for the Market
This substantial investment signals a strong vote of confidence in Bitcoin's long-term prospects. Such actions by influential market players often lead to notable market shifts, hinting at a potentially bullish trajectory for Bitcoin's future.
Despite Whales' Active Accumulation, Bitcoin Plummets Below $70,000 as Market Cap Drops to $1.369 Trillion
Despite the whales' aggressive accumulation, Bitcoin has experienced a downward trend in the past 24 hours, dipping below the $70K mark. The cryptocurrency opened the day at $71.22K, reaching an intraday low of $69.448K before stabilizing around $69.77K. This represents a 1.39% decrease for the day, accompanied by a decline in market capitalization to $1.369 trillion and a 23.13% drop in intraday trading volume to $33.892 billion.
Technical Analysis Predicts Short-Term Bearish Trend for Bitcoin, with Price Likely to Face 50% Fibonacci Retracement Support
Technical analysis on the 4-hour chart suggests a bearish trend, with the Moving Average Convergence Divergence (MACD) indicator trending downward. The histogram bars flattening near the zero line indicate a potential imminent price decrease, while the Relative Strength Index (RSI) suggests a weakening of buying pressure, possibly leading to a downward price movement.
If the bearish trend persists, Bitcoin's price may target the 50% Fibonacci retracement level as immediate support. Conversely, a resurgence of bullish momentum could propel the price toward the 78% Fibonacci level, serving as significant resistance above the $70K threshold.
1
Gain a broader understanding of the crypto industry through informative reports, and engage in in-depth discussions with other like-minded authors and readers. You are welcome to join us in our growing Coinlive community:https://t.me/CoinliveSG
Add Comment
LoginLeave your comments
0 Comments
Earliest
Load more comments
Related News
- XingChi
Does India Have Room For Both Bitcoin and CBDC? - CoinDCX Co-founder
India has recently announced that the country is considering banning cryptocurrencies like Bitcoin and Ether in favor of its Central Bank Digital Currency (CBDC).
XingChiWSJ Links Tether to Terrorist Groups and Arm Dealings; Tether Dismiss It As Old News!
Tether is biting back on The Wall Street Journal for speculating that the company is under investigation by the U.S federal government.
XingChiMicrosoft Is Still Not Ready For Bitcoin. All Eyes Are On Crucial December Vote
Microsoft has made a firm stance to say NO to Bitcoin, stating that this aligns better with the company's long term interest.
XingChiU.S. Bitcoin ETF Inflows Surge – Will They Overtake Satoshi’s 1.1 Million BTC Before Year-End?
U.S. spot Bitcoin ETFs are nearing a milestone of one million BTC in holdings, driven by strong inflows and growing institutional demand. As Bitcoin's price rises, analysts warn that supply constraints could push prices even higher.
WeatherlyBitcoin Investment Hangs in Balance: Microsoft’s Board Recommends a “NO” Vote as Shareholders Consider Bitcoin Investment
In December, Microsoft shareholders will vote on investing in Bitcoin. Despite growing interest, the board advises against it, pointing to their current strategy of evaluating diverse investments, including Bitcoin. Will shareholders heed the board’s caution or opt for crypto?
KikyoEl Salvador’s President Donates 2 Bitcoins to Fund 1,000 Schools in Honduras Through Youtuber Shin Fujiyama
El Salvador's President Nayib Bukele donated two Bitcoins, worth about $134,000, to help build 1,000 schools in Honduras, a country facing poverty and educational challenges. The donation was received by philanthropist Shin Fujiyama, who co-founded Students Helping Honduras and is currently running a charity run in El Salvador to raise funds for the initiative.
WeatherlyTesla's $780 Million Bitcoin: Arkham Believes the Electric Giant Still Holds Its Fortune Despite Recent Wallet Moves
Tesla recently transferred its entire Bitcoin stash of 11,509 BTC to new wallets, sparking speculation about a possible sell-off. However, blockchain analysts believe these movements are just wallet rotations, indicating that Tesla still owns the Bitcoin and may be preparing for future strategic moves.
AnaisNeel Kashkari: "Drugs and Illegal Activity Are The Only Types Of Transactions Used With Crypto." Internet Bites Back
Since taking office as the Minneapolis Fed President in 2016, Kashkari has been openly critical of cryptocurrencies.
XingChiBillionaire Michael Saylor Plans to Leave His Bitcoin Wealth for Humanity Like Satoshi Nakamoto
Michael Saylor plans to leave his Bitcoin wealth to the world, similar to how Bitcoin's creator, Satoshi Nakamoto, did. He believes Bitcoin is a vital tool for the future economy, helping to preserve wealth and potentially solve many of the world's problems.
Anais
Live Updates
- Bitcoin Dominance Soars: Here's Why That's Good for AltsBullishBearish
Trending News
Is AI a Threat to Humanity? Experts at TOKEN2049 Singapore Discuss the Need for More Resilient Permissionless AI
TOKEN2049 discussions emphasized the need for stronger, more resilient permissionless AI systems. As AI rapidly advances, concerns over safety and ethical use raise critical questions about its future impact on society. Could AI pose a danger to humanity?
CatherineIggy Azalea Throws Epic Crypto Party, Disses Vitalik Buterin's Ethereum Song After TOKEN2049 Singapore
Iggy Azalea's feud with Ethereum co-founder Vitalik Buterin stems from his criticism of celebrity-driven crypto projects like her meme coin, MOTHER. While Buterin focuses on blockchain technology's serious use, Iggy promotes her ventures with bold entertainment events, sparking controversy.
JoySolana AI Project Led by Vietnamese Businessman Under Scrutiny Amid Investor Fraud Claims
Hung Dinh, a notable figure in Vietnam's tech scene, faces allegations of misusing investor funds linked to the GM.AI project, raising concerns about the reputation of Vietnamese developers.
AnaisElderly Singaporean Couple Invests $70K from Home Sale into Dubious MLM Crypto Scheme
A group of investors in Singapore, many elderly, are struggling to recover their money from a gemstone investment scheme that resembles a multi-level marketing program. Despite promises of high returns through cryptocurrency, they have received no profits and face additional demands for payment to access their investments.
WeatherlyShould Crypto Be the Centre of Political Universe? TOKEN2049 Panelists Talk US Election Implications and Regulatory Approaches
National policies shape global cryptocurrency markets, with regulations driving innovation or hindering growth. At TOKEN2049 Singapore, experts discuss how different national approaches impact local dynamics, global trends, cross-border transactions, and the future of cryptocurrencies in the financial system.
CatherineTravala Enhances Crypto Travel with Solana Payments and Up to 10% SOL Rewards
Travala has integrated with the Solana blockchain, allowing users to book travel using Solana’s native token and stablecoins like USDT and USDC, enabling zero-fee transactions. The platform is also introducing loyalty rewards in SOL and has partnered with Skyscanner to offer access to over 2.2 million hotels, enhancing its competitiveness in the travel industry.
WeatherlyLegendary trader admitted his mistake! Bitcoin surged and "accidentally" outperformed the Japanese yen, and the foreign exchange market carry trade did not occur...
Legendary trader Arthur Hayes admitted his mistake on Monday. The expected yen carry trade did not occur, and the surge in Bitcoin unexpectedly outperformed the yen.
AlexSudden surge in the market! USDT/RMB rebounds to break through 7.05, and the Chinese central bank's "interest rate cut" ends the depreciation cycle
USDT/CNY rebounded and broke through 7.05 on Monday. China's central bank cut interest rates again, ending the USDT depreciation cycle and easing the panic of the Federal Reserve starting easing.
MiyukiThe reason for the new round of "explosion" in the US banking industry has been found: the Federal Reserve suddenly changed its regulatory policy!
The parent company of the US crypto-friendly bank Silvergate filed for bankruptcy on September 19. The bank’s executives revealed that the key reason for the collapse was the Federal Reserve’s sudden shift in regulatory policy.
WeiliangInvestors Eye Mpeppe for 100x Gains as Nervos Network Continues Its Stellar Rise
Nervos Network (CKB) has seen a price increase of over 13% recently, driven by strong community support and trading volume, while its price has surged nearly 50% in the past month. Meanwhile, a new competitor, Mpeppe (MPEPE), is gaining attention in the cryptocurrency space, offering an AI-powered casino experience and attracting significant investor interest, with over $3 million raised in its presale.
Weatherly