Bitcoin holders have been offloading their spot Bitcoin ETF shares as the asset dipped to $92,500 and remains below $95,000.
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A crypto trader says the altcoin total market cap needs to rise around 16% before “euphoria” sets in, and until then, the market could remain “choppy.”
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Crypto commentators say there is “not much alpha in chasing alts” right now, but are eyeing the possibility of Bitcoin retesting $99,000.
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Bitcoin’s consolidating price has a trader suggesting a big move is imminent, though uncertainty remains about the direction of BTC price in the coming days.
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Blockchain analytics firm Santiment says a decline in Bitcoin whale activity is not necessarily a bearish sign.
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Tyr Capital’s chief investment officer thinks Bitcoin is more likely to finish September above $60,000 than below.
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Bitfinex says it’s a “challenging time” for Bitcoin traders as the US Fed’s widely expected rate cut could lead to a drop in Bitcoin’s price and not a boost as hoped by the market.
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Bitcoin’s volatility is now higher than it was on the day of its all-time high in March, with traders suggesting this could signal the end of the “massive consolidation.”
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Bitcoin is set to move upward in September, but traders are now less confident it’ll break the $100,000 mark before the end of the year.
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Bitwise Chief Investment Officer Matt Hougan says there are three reasons why Ether ETFs could drive the price of the asset, more than Bitcoin ETFs did for BTC.
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