Why Bitcoin price and volume rising together is bad news for Ethereum, altseason

Bitcoin (BTC) is sucking up the volume from the entire cryptocurrency market as it continues to rally. This is causing the alternative cryptocurrency (altcoin) market to pullback, which has seen rising selling pressure and low buyer demand. On Oct. 30, researchers at Santiment pinpointed the growing volume and dominance of Bitcoin, while Chainlink (LINK), Ether (ETH) and Binance Coin (BNB) struggled. They wrote: “The dominance involving #Bitcoin is continuing to display itself, particularly via trading volume. When comparing other top blockchains in the past day, note the decline in $ETH,…

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Impending pennant breakout sets Bitcoin price back on the path to $14,000

As the weekend approaches, Bitcoin (BTC) price appears set to close out the month with a remarkably strong performance which has many bulls calling for a new all-time high above $20,000 in the near future.  Traders attribute these lofty estimates to the fact that BTC appears to have flipped $12,000 to $12,500 to support and barring some unexpected price implosion, Bitcoin is on the path to painting a beautiful monthly candle. Crypto market weekly price chart. Source: Coin360 Further ‘bullish’ evidence comes from today’s options and futures expiry which saw…

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Bitcoin Price Hits Highs Around World – Bitcoin Magazine

This article also appeared in our Down The Rabbit Hole newsletter. If you want our news and analysis straight to your inbox, make sure you subscribe now! One bitcoin will always be worth 1 bitcoin, but its price relative to fiat currencies is an important indicator of how much people around the world value the opportunity to opt out of their legacy systems and begin transacting and storing value in a permissionless alternative. As the price of BTC rises relative to dollars, yen or rubles, it’s clear that the people living…

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Sharp Bitcoin price move brewing as BTC volatility falls to a 16-month low

Bitcoin (BTC) options aggregate open interest has increased to $2 billion, which is 13% below the all-time high. Although the open interest is still heavily concentrated on Deribit exchange, the Chicago Mercantile Exchange (CME) has also reached $300 million. In simple terms, options derivatives contracts allow investors to buy protection, either from the upside (call options) or downside (put options). Even though there are some more complex strategies, the mere existence of liquid options markets is a positive indicator. For example, derivative contracts allow miners to stabilize their income which…

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3 reasons Bitcoin price got rejected at $11,500 — and what comes next

The price of Bitcoin (BTC) rapidly fell after surpassing $11,500 on Binance between Oct. 14 and Oct. 15. Within two hours, it fell to $11,280, recording a 2.3% drop. After the fall, analysts are expecting another minor pullback in the near term. Three factors likely caused the rejection to occur include a sell-off on BitMEX, a major resistance level and the stock market pullback. Bitcoin dropped as soon as the Dow Jones slumped On Oct. 14, the Dow Jones Industrial Average (DJIA) dropped by 0.58%, after initially seeing a minor…

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