Search results for Bitfinex Alpha
Crypto
Bitcoin eyes $90,000 as bull market hopes build
Bitcoin has climbed above $86,000 for the first time since late January, hitting $86,332 at one point after U.S. markets opened. It logged a 5.7 percent daily gain and its highest level in 33 weeks. The move came as oil prices fell and U.S. stocks rose, while expectations of easing trade tensions also supported sentiment. Analysts cited short-covering liquidations and outlined conditions needed for further gains.
Crypto
Glassnode says speculative traders drive resistance for bitcoin around $60,000
Bitcoin has repeatedly failed to break higher around $68,700, with selling pressure from recent buyers taking profits or cutting losses cited as a key factor. On-chain analytics firm Glassnode said the average purchase price of short-term holders who bought within the past six months is acting as a major resistance level. Bitcoin has traded in a tight range since early June, while large holdings concentrated between $62,000 and $65,000 are reinforcing the band.
Crypto
Bitcoin battles around $63,500 level as downside risk grows on fading rebound momentum
Bitcoin slid to around $63,500 despite U.S. July consumer prices matching expectations. The market has increasingly priced in the possibility that the Federal Reserve will hold rates steady in September, but traders are focused on whether bitcoin can keep the $63,000 support level. CME FedWatch put the probability of a September hold at 60 percent. Investors are watching July producer prices due on Aug. 14 and option markets still show demand for downside protection.