Bitcoin price charts hint $11K will likely cause trouble for BTC bulls

While Bitcoin (BTC) has been showing weakness in recent weeks as BTC price dropped from $12,000 to $10,000, some light at the end of the tunnel is showing up. The price of Bitcoin showed support at the psychological barrier of $10,000 and bounced numerous times as it’s already close to $11,000. Most importantly, can Bitcoin break through this crucial area and continue its bullish momentum? Bitcoin holds $10,000 to avoid any further correction on the markets The price of Bitcoin couldn’t hold above $11,100 at the beginning of September and…

BTC, BNB, NEO, YFI, LINK

This week Digital Assets Data CEO Mike Alfred told Cointelegraph that mainstream investors are still “skeptical of Bitcoin and the ecosystem.”  However, Alfred believes that this “skepticism and disbelief” will turn out to be a positive for Bitcoin (BTC) because when the “traditional folks capitulate, they will be forced by their clients and partners to get involved at significantly higher prices.” While Bitcoin has struggled to start a sustained uptrend in the past few weeks, select altcoins and tokens in the DeFi space have been in a strong bull run.…

COVID-19 shook out retail investors but emboldened BTC whales: Report

As the COVID-19 pandemic began, retail and institutional Bitcoin investors took very different approaches, new research from OKEx Insights and Catallact showed.  The research, which looked at on-chain BTC transaction data from January to the beginning of August 2020, found retail investors largely pulled back and took a wait and see strategy with Bitcoin. Larger, possibly more institutional investors, on the other hand, accumulated BTC. The report does not take into account transactions in the bulk of August and September when prices fell.  Retail transactions, those representing less than one-tenth…

Hong Kong’s BTC association pushes ‘Bitcoin Tram’ ad campaign

The Bitcoin Association of Hong Kong, a major local alliance promoting crypto awareness and education, is launching the “Bitcoin Tram” ad campaign in Hong Kong; one of the world’s main global financial centres. According to a Sept. 11 announcement, the new ad campaign composes three double-decker trams fully covered with Bitcoin logos and ads alongside 20 similarly-designed billboards across the city. Hong Kong’s Bitcoin Association said in the announcement that the “educational campaign” was initiated by the Hong Kong Bitcoin community and is coordinated by the association. The campaign is…

BTC locked in DeFi increased by 20X the entire Lightning Network this week

The amount of BTC locked in decentralized finance projects increased by more than 30% in the past week, despite falls in the price of Bitcoin (BTC) and Ethereum (ETH). The total USD value locked (TVL) can go up and down with markets, even in the absence of a change in the number of tokens locked. In the past week, the TVL dropped from the ATH of $9.6 billion on Sep 2 to $6.11 billion on Sep 10 before climbing back to $7.82 billion. According to DeFi tracking platform DefiPulse, the…

Tezos (XTZ) Reaches Critical BTC Support as Sellers Grow Aggressive

Tezos has been caught within a firm consolidation phase against its USD trading pair in recent weeks, with the cryptocurrency being unable to garner any clear independent momentum. That has caused its price to range between lows of $2.35 and highs of $2.65, which is around where it is currently trading at. Bulls are attempting to break this range and catalyze further upside in the near-term, although whether or not it can push higher will likely depend mostly on the rest of the cryptocurrency market. Bitcoin is showing some signs of…

Despite BTC Drop $10k, Ethereum DeFi Coins Undergo Strong Bounce

On Tuesday morning, Bitcoin once again dropped under $10,000 and Ethereum pushed lower. After a poor open in legacy markets, including gold, the leading cryptocurrencies were brought lower. Top decentralized finance (DeFi) coins based on Ethereum, though, have embarked on a healthy recovery. This comes after a brutal drawdown of 30-50% for most prominent altcoins, triggered by fears of a return to a bear market. Related Reading: Here’s Why This Crypto CEO Thinks BTC Soon Hits $15,000 Ethereum DeFi Coins Bounce After Brutal Drop Data from CoinGecko indicates that top decentralized…

Bitcoin options data shows traders anticipate BTC price to fall soon

Market data from Skew shows investors in the Bitcoin (BTC) options market are cautiously bearish in the short term as of Sep. 8. The shift in sentiment comes after BTC’s abrupt 17% drop in seven days. The daily chart of Bitcoin. Source: TradingView.com Bitcoin fell below the $10,000 support level for the fourth consecutive day. Some analysts say that the repeated test of the same level is a bearish sign. Others say that BTC is showing resilience at an important support area. Why the Bitcoin options market data might be…