Daily Fresh Cryptocurrency News

Bitcoin Pushes $10,700 as Market Shakes Off BitMEX, President Trump News

3


The Bitcoin market is shaking off the sturdy correction to $10,400 final week. The main cryptocurrency at the moment trades for $10,700, a couple of p.c above these lows as patrons are available forward of the legacy market open on Sunday.

Prior to now 24 hours, Bitcoin is up a wholesome 1%, permitting it to truly outperform a swath of altcoins like Ethereum, XRP, and Litecoin.

BTC’s transfer increased comes within the face of a sequence of bearish information occasions that embrace however will not be restricted to the $280 million hack of KuCoin, the U.S. CFTC charging BitMEX and its founders over sure considerations, and President Trump catching the illness at the moment spreading throughout the globe.

Bitcoin’s resilience within the face of those three information occasions, analysts say, goes to indicate the energy of the macro BTC uptrend.

Associated Studying: Ethereum Transaction Charges Surge to All-Time Highs After Uniswap Launch

Bitcoin Derivatives Market Replace

Whereas Bitcoin is pushing increased as will be seen within the chart beneath, the typical derivatives person stays bearish.

In keeping with ByBt, a crypto derivatives tracker, prime BTC futures markets nonetheless have detrimental present and detrimental predicted funding charges. The funding price is the price that lengthy positions pay quick positions to make sure that the value of the long run stays according to the value of the underlying spot asset or index.

Unfavourable Bitcoin funding charges counsel that shorts are rather more aggressive than longs.

Chart of BTC's worth motion over the previous two days from TradingView.com
Associated Studying: Essential On-Chain Sign Predicts That Bitcoin’s Subsequent Transfer Will Be Upward

Case For Additional Upside Nonetheless Intact

The case for additional upside within the worth of Bitcoin stays intact. As reported by NewsBTC, Dan Tapiero, a gold bull that has just lately targeted a lot of his time on Bitcoin and cryptocurrency, just lately said on the asset’s macro prospects:

“Huge structural deflation in Europe helps Bitcoin. Causes European Union actual rates of interest to geo up whilst nominal charges are detrimental. Crushes legacy European Union banks. European Central Financial institution drags ft and perhaps [its] arms [are] tied. Greenback falls as actual charges rise sooner within the European Union than within the US.”

On-chain tendencies, such because the variety of lively BTC customers, additionally reveals that the cryptocurrency is more likely to transfer increased, Willy Woo says. Woo is a distinguished on-chain analyst.

Associated Studying: MicroStrategy’s Inventory Continues to Soar After BTC Buy
Featured Picture from Shutterstock
Worth tags: xbtusd, btcusd, btcusdt
Charts from TradingView.com
Bitcoin Pushes $10,700 as Market Shakes Off BitMEX, Trump Information


#Bitcoin #Pushes #Market #Shakes #BitMEX #President #Trump #Information



Source link

1 Comment
  1. Eric Jones says

    Hey there, I just found your site, quick question…

    My name’s Eric, I found cugmag.com after doing a quick search – you showed up near the top of the rankings, so whatever you’re doing for SEO, looks like it’s working well.

    So here’s my question – what happens AFTER someone lands on your site? Anything?

    Research tells us at least 70% of the people who find your site, after a quick once-over, they disappear… forever.

    That means that all the work and effort you put into getting them to show up, goes down the tubes.

    Why would you want all that good work – and the great site you’ve built – go to waste?

    Because the odds are they’ll just skip over calling or even grabbing their phone, leaving you high and dry.

    But here’s a thought… what if you could make it super-simple for someone to raise their hand, say, “okay, let’s talk” without requiring them to even pull their cell phone from their pocket?

    You can – thanks to revolutionary new software that can literally make that first call happen NOW.

    Talk With Web Visitor is a software widget that sits on your site, ready and waiting to capture any visitor’s Name, Email address and Phone Number. It lets you know IMMEDIATELY – so that you can talk to that lead while they’re still there at your site.

    You know, strike when the iron’s hot!

    CLICK HERE http://www.talkwithcustomer.com to try out a Live Demo with Talk With Web Visitor now to see exactly how it works.

    When targeting leads, you HAVE to act fast – the difference between contacting someone within 5 minutes versus 30 minutes later is huge – like 100 times better!

    That’s why you should check out our new SMS Text With Lead feature as well… once you’ve captured the phone number of the website visitor, you can automatically kick off a text message (SMS) conversation with them.

    Imagine how powerful this could be – even if they don’t take you up on your offer immediately, you can stay in touch with them using text messages to make new offers, provide links to great content, and build your credibility.

    Just this alone could be a game changer to make your website even more effective.

    Strike when the iron’s hot!

    CLICK HERE http://www.talkwithcustomer.com to learn more about everything Talk With Web Visitor can do for your business – you’ll be amazed.

    Thanks and keep up the great work!

    Eric
    PS: Talk With Web Visitor offers a FREE 14 days trial – you could be converting up to 100x more leads immediately!
    It even includes International Long Distance Calling.
    Stop wasting money chasing eyeballs that don’t turn into paying customers.
    CLICK HERE http://www.talkwithcustomer.com to try Talk With Web Visitor now.

Leave A Reply

Your email address will not be published.