Bitcoin addresses holding 1,000 to 10,000 BTC have resumed accumulating coins.
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Bitcoin addresses holding 1,000 to 10,000 BTC have resumed accumulating coins.
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Traders say a correction to lower support levels and standard profit-taking was expected after Bitcoin’s swift ascension to $50,000.
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Crypto markets sold off on Thursday, but data from Cointelegraph Markets Pro shows COTI and CFX rallied after new exchange listings.
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Protocol upgrades and a new cross-chain Ethereum bridge back the rally in TLOS, GNO and ALPHA.
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Bitcoin correcting after a big announcement of Michael Saylor and facing crucial resistance at $51K.
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The bearish outlook appears also as Cardano’s daily relative strength index (RSI) reflects overbought sentiments. However, euphoria surrounding Cardano’s smart contracts launch and its mild correlation with Bitcoin keeps the upside hopes intact.
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Bitcoin is “back in bull market territory” but traders warn that a retest of underlying support levels is bound to occur soon.
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GNO, WAX and IOST lead altcoins higher as Bitcoin’s rally to $50,000 signals that the bull market is back on track.
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The ADA/USD exchange rate has moved further into its “overbought” area, suggesting that a trend correction might follow suit.
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Since plunging to the $29,000 range in late June, Bitcoin’s price has recovered more than 72%.
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