Bitcoin remaining relatively stable despite a cryptocurrency exchange getting hacked over the weekend is a positive sign for the market’s maturity.
Bitcoin Price News
The price of Bitcoin (BTC) can refer to either the energy cost of maintaining and securing the Bitcoin network through mining or the market value of BTC at a particular moment or over the course of time. Most of the discourse tends to surround the latter.
Bitcoin is a radically market-driven asset that is not backed by any commodity or central authority. As such, Bitcoin price movements tend to be volatile. Bitcoin’s price today will be different from Bitcoin’s price tomorrow. Ultimately, the price of Bitcoin is the result of the combined activities of a global community of stakeholders including miners, traders and consumers.
There are various theories on how the market values (or ought to value) the price of BTC, from the supply-based pricing model, which necessitates increasing demand for value to increase, or the efficient-markets hypothesis (EMH), which asserts an ultraefficient, omnipotent marketplace that has already factored in the necessary information, to the stock-to-flow (STF) model, which measures an asset’s scarcity by tracking the ratio between current supply and annual production rate. This last model has attracted many in the BTC community for its thorough analysis and incredibly bullish sentiment.
KuCoin reported a major security breach on Sep. 26, affecting Bitcoin, Ether, and ERC20 hot wallets while BTC and ETH prices remain unfazed.12605
Bitcoin whale clusters show the $10,407 level has turned into a strong support area, raising the chance of a renewed bullish uptrend.31693
Cryptocurrency ETP volumes continue to drop as long-term investors look for safer options during Bitcoin’s dry spell.5166
A long-term downtrend flips to form bullish support as Willy Woo says Bitcoin’s days of tracking traditional markets are numbered.14110
Bitcoin price still has a CME futures gap unfilled at $9,600 but that doesn’t mean $11K won’t be reclaimed soon.8321
The Bitcoin (BTC) price faces numerous heavy resistance levels in the near term, whale clusters from Whalemap show.13411
$9,000 would be the ideal “buy the dip” opportunity, says Vays, with $7,000 soon to form Bitcoin’s untested 200-week moving average.18780
Bears lurk as Bitcoin price is down and $284M in CME BTC options are set to expire on Friday.12951
Leading DeFi token Uniswap has seen massive losses recently following in the footsteps of CRV and SUSHI.3797
Rising by $200 each month, the 200-week moving average has formed an implied BTC price floor since Bitcoin first appeared in 2009.7484
Social media sentiment for Bitcoin has slumped to two year lows which is good for those wanting to go against the crowd.9148
Retail traders were rattled by Bitcoin’s $900 drop but BTC options data remains bullish ahead of Friday’s expiry.8756
Earth is reaching a historic “inflection point,” Keiser warns after Singapore’s central bank admits that more debt is not an option for anyone.6425
2020 is showing that investors are more skewed to hodling than speculating, says Delphi Digital, in line with various findings from the past few months.7273