Futures traders are short Bitcoin — 3 reasons it won’t stop the rally

Since Sep. 5, many trades in the Bitcoin (BTC) futures market have been seemingly net short. As the majority of placed bets against BTC, the funding rate of BTC futures contracts turned negative. But in the last 30 hours, the price of Bitcoin increased from $10,211 to as high as $10,878 on Coinbase. The large amounts of shorts in the market are fueling the recovery of BTC for three reasons. The three factors are low funding rates, the likelihood of a short squeeze, and the implications of defending the $10,000…

Binance Coin Jumps 17% Rally by Mid-September; Could It Hit $40?

Binance Coin (Symbol: BNBUSD) is the only top tier cryptocurrency that has returned profits to its investors in the first half of September. The seventh-largest crypto by market capitalization was up by circa 17 percent, trading at $29.07 as of 1023 GMT, Tuesday. At the same time, other leading cryptocurrencies, including Bitcoin, Ethereum, and XRP, were trading 10-20 percent below zero. Beating Ethereum At its month-to-date high, Binance Coin was trading at $34.05, up by almost 47.04 percent. The cryptocurrency’s surprising upside move came amidst growing demand for Binance Chain.…

U.S. Presidential candidate served for alleged securities fraud at rally in NYC

Presidential candidate Brock Pierce was served for his connection to alleged securities fraud during his campaign rally in New York City earlier today. Source: Twitter. James Koutoulas, the lawyer leading this case, told Cointelegraph that Pierce was served legal documents in connection with a class action case against Block.One — a company that Pierce co-founded. Block.One was the company behind EOS’ $4 billion initial coin offering. The project’s ICO was the largest such offering to date. Brock Pierce has co-founded a number of crypto projects including Block.one, the development company behind…

Does Bitcoin’s Ongoing Rally Have Legs? Here’s Why Analysts Think It Does

Bitcoin is pressing higher after a $300-400 correction on Sunday morning. The leading cryptocurrency currently trades at $10,400 as of this article’s writing, around $200 from the lows. This comes after the leading cryptocurrency printed a pivotal weekly candle close above $10,000. $10,000 has long acted as an important horizontal level for Bitcoin, having marked three separate highs over the past year. Analysts think that Bitcoin’s ongoing rally may have legs despite it being so nascent and relatively small. One sign that this is the case is the price action…

Ripple (XRP) Above This Confluence Resistance Could Spark Fresh Rally

Ripple retested the $0.2380 support zone against the US Dollar. XRP price is likely to start a fresh rally once it clears the 100 hourly SMA and the $0.2460 resistance region. Ripple is recovering higher after tagging the key $0.2380 support zone against the US dollar. The price is trading near the $0.2420 resistance and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $0.2430 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair must…

Here’s Why An Analyst Thinks the Ongoing Bitcoin Rally Is “The Real Deal”

Bitcoin has begun to press higher despite weakness in legacy markets. The price of the leading cryptocurrency is currently at $10,470 despite reaching lows of $9,800 earlier this week; also, altcoins have begun to surge, suggesting that this is once again a buyer’s market. BTC is moving above pivotal support levels during this slight rally. While some think this is an upward fakeout, there are signs that this may be the start of a rally that takes Bitcoin back to $11,000. Here’s why. Related Reading: CNBC’s “Mad Money” Host Jim Cramer…

Analyst: Latest Bitcoin Rally Doesn’t Look Like a Bull Run

Bitcoin just crashed from $12,000 to $10,000 in the matter of a few days, and it has since been a battle for bulls to hold ground at $10,000. Unfortunately, bears may end up winning this battle, as the latest rally according to one crypto analyst, doesn’t at all look like a “bull market.” When comparing the price action against past bull cycles, the claim makes sense. However, another perspective on the same take could say otherwise. Here’s a look at the two conflicting theories so you can decide for yourself:…

YFI Forms a ‘Golden Cross’ Pattern Following 38% Rally

As YFI trades 25 percent below its record high, there is an interesting bullish pattern for traders to consider. That is ‘Golden Cross,’ a telltale technical indicator that suggests that the price of the underlying asset would rise in the future sessions. The pattern comes to life when an asset’s short-term moving average jumps above its long-term moving average. Depending on the timeframe of the moving averages (or MA), a Golden Cross can be both a lagging and leading indicator. YFI witnessed a bullish crossover between its 20-period MA and…

Ripple (XRP) Just Saw A Key Technical Breakout: Relief Rally Underway

Ripple started a steady recovery wave, following bitcoin’s upward move and ethereum’s rally against the US Dollar. XRP price is likely to revisit $0.2575 or $0.2620 in the near term. Ripple is up 4% and it is trading above the $0.2350 and $0.2440 resistance levels against the US dollar. The price is showing positive signs above the $0.2450 level and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $0.2360 on the hourly chart of the XRP/USD pair (data source…

Future Tesla S&P 500 inclusion may lead to Bitcoin price rally — Analysts

On Sept. 9 the price of Tesla stock surged 10.92% after undergoing a 21% plunge earlier in the day. Coincidentally, the price of Bitcoin (BTC) also soared by nearly 5% in the past 24 hours. XBT/USD 4-hour chart. Source: TradingView.com In the past several days, the correlation between Bitcoin and stocks has increased once again. Data from Skew shows the 1-month correlation between Bitcoin and the S&P 500 surged from 18% to around 55%. What’s behind the Tesla dump and Bitcoin pump? The price of Tesla likely declined due to…