Crypto Traders Worldwide

The Bitcoin price is currently on a very important technical level which position it for a rapid price change in the near future. If the price manages to break the current level, there is a possibility for it to retest $13,000 level which was the highest since June 2019. But the chart patterns identified, suggests a more bearish move is much expected within the short horizon to the level around $ 6,500. With the expectation of recoveries in the world economy from Covid-19 Pandemic, it will be expected for Bitcoin and Cryptocurrencies assets to experience a temporary selloff.

The action in altcoins has become coin specific, meaning, traders should remain with those that are in an uptrend as they are likely to follow Bitcoin if it moves higher. A month after the first halving, Bitcoin (BTC) moved up by 7% but following the second halving, the price slipped by 10% in a month. This suggests that if history were to repeat itself, the top-ranked cryptocurrency on CoinMarketCap will remain volatile but a large move in either direction is unlikely in the first month. However, the derivatives markets could be giving a signal that this time is different. This week CME Bitcoin options open interest increased to about $142 million, an increase of over 1000% since the end of April, according to data from Skew. This shows that the options traders are expecting a sharp move in price within the next few days.  There are approximately $661.7 million worth of long positions open, compared to $252 million in short positions, on the three major futures excha...

The traditionally Bitcoin-averse Trump accidentally painted a rosy picture of sound money after endorsing meddling in the dollar supply. Bitcoin (BTC) gained ironic support from United States President Donald Trump on March 27 after he appeared to say he supported manipulating the dollar. In a press conference quoted by various Twitter commentators, including Blockstream CSO, Samson Mow, Trump defended the Federal Reserve printing more than $6 trillion. Trump: the dollar is “our money, our currency” “The beautiful thing about our country is $6.2 trillion — because it is 2.2 plus 4 — it’s $6.2 trillion, and we can handle that easily because of who we are, what we are,” he said. “It’s our money; we are the ones, it’s our currency.” While Trump did not provide any further explanation of his train of thought, he appeared to endorse the Fed providing the astronomical sum of liquidity for the U.S. market. In turn, the dollar supply would be heavily expanded. It is this form of meddl...

Ethereum longs on Bitfinex have increased 170% since breaking into record highs during late February. The number of Ethereum (ETH) longs has continued to surge after breaking into all-time highs at the end of March. Despite the broader crypto markets posting price gains alongside Bitcoin (BTC) in recent weeks, the number of open longs remains low for most crypto assets after plummeting during the mid-March crypto market crash. Ether longs dominate crypto markets Since breaking into record highs on Feb. 26, ETH/USD longs on major crypto exchange Bitfinex have increased by 170%, with the violent Black Thursday mid-March crash failing to drive even a modest retracement among Bitfinex’s bulls. ETH/BTC longs have also grown significantly in recent weeks, however, has been increasing steadily since early 2019 After increasing roughly 50% from March 2019 until the start of 2020, ETH/BTC longs shot up by a further 83%. .