The bullish analogy appears as Bitcoin reserves across all the crypto exchanges fall to their lowest in the previous 12 months, suggesting holding sentiment among traders.
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The bullish analogy appears as Bitcoin reserves across all the crypto exchanges fall to their lowest in the previous 12 months, suggesting holding sentiment among traders.
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One of the crypto mining stocks delivered more than 1,600% returns year-over-year (YoY) while Bitcoin’s gains in the same period came out to be around 290%.
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The rush to so-called safe-haven cryptocurrency appears despite concerns that the Federal Reserve would taper its $120 billion a month asset purchasing program.
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The sell-off in the Bitcoin market, in particular, intensified due to excessively leveraged bullish bets.
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The relative strength index is making lower highs while correcting from its overbought area.
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The indicators, coupled with a strong bid momentum versus the offers, suggest that the Bitcoin price could push above $50,000 in the coming sessions.
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An on-chain indicator, notorious for spotting fake bullish breakouts during downside corrections, flashes again.
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The flagship cryptocurrency hits its highest level in more than two months as inflation is expected to rise by another 0.5% in July.
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$42,000 is becoming an increasingly important battleground for Bitcoin bulls and bears.
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Analyst Willy Woo highlights three on-chain indicators that track the flow of Bitcoin tokens across wallets, each illustrating why the benchmark cryptocurrency could explode higher.
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