New data from Whalemap reveals three whale clusters around $12K that should act as support and resistance areas for Bitcoin price in the short term.
Crypto markets provide a bird’s-eye view of a burgeoning crypto economy including Bitcoin (BTC) and a host of other crypto networks. The cryptocurrency market is radically different from the traditional global financial and commodities markets. Not only is the structure of these underlying assets fundamentally different, as they are natively digital and noncustodial in many cases, but the market participants are different as well.
Cryptocurrency networks such as Bitcoin feature a unique composition of stakeholders. There are the miners, which provide security and uptime to the network while earning cryptocurrency for their efforts; traders and investors navigating the ebbs and flows of the market for maximum profits; developers, who are the open-source builders working toward scaling and improving these protocols; and individual users, who may speculate or use their crypto to some productive capacity.
The dynamics among these stakeholders in these decentralized, open, permissionless systems are in striking contrast to traditional finance and are main topics of discourse in the space.
Stay tuned to news, analysis and in-depth coverage of crypto markets with Cointelegraph.
Bitcoin is showing signs of profit booking, resulting in a slight downturn in altcoin prices.13810
The Chicago Mercantile Exchange (CME) just became the second-biggest Bitcoin futures exchange in open interest behind OKEx, buoyed by rising institutional demand.10813
Bitcoin price is chasing another 2020 high but top traders refusing to open longs is a bearish signal.20931
PayPal’s crypto integration may bode well for Bitcoin price as its user base could triple13497
As Bitcoin price rises to new heights, top traders say the monthly and logarithmic chart signal that BTC is entering a new bull trend.11199
Bitcoin odds are "repricing quickly," says Skew as one analyst highlights the current price pump's "organic" nature.16798
The price of Bitcoin rose to $20,000 in 2017 and crashed. According to Glassnode, the same top signal has emerged, but feels different this time for several reasons.15486
Bitcoin price hits a new record high in seven national currencies of 500 million people.25435
Bitcoin price just secured a new 2020 high and traders expect the price to rise higher for 3 key reasons.73889
Bitcoin derivatives favor bulls but data shows top traders added to their short positions as BTC rallied above $12K.30591
Bitcoin hit a new 2020 high and altcoins rallied as PayPal announced that it will support crypto payments.20190
Further gains in Wednesday trading come as mixed reactions flow in over PayPal’s decision to support four cryptocurrencies in 2021.20923
The long-awaited “flippening” of fiat at PayPal will begin next year, as Bitcoin price action offers almost 5% daily gains.36852
Bitcoin leaving macro assets behind will be the “biggest story in crypto” if it continues, but there’s more to be bullish about, says Cole Garner.17481