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A flurry of macro and crypto specific factors are expected to impact his week’s $1.9 billion Bitcoin options expiry. The upcoming $1.9 billion Bitcoin (BTC) monthly options expiry on Aug. 25 is key to defining whether the $26,000 support level will hold. One could pin the recent cryptocurrency market sell-off to the U.S. Securities Exchange Commission decision to delay the spot Bitcoin exchange-traded funds (ETF), but there’s also the macroeconomic perspective. If the U.S. Federal Reserve's efforts to curb inflation work, it's probable that the trend of a stronger U.S. dollar will persist. This was evident as the Dollar Strength Index (DXY), a measure of the dollar against other currencies, reached its highest level in 76 days by August 22. To prevent a potential loss of $380 million due to the monthly BTC options expiry , Bitcoin bulls must ensure Bitcoin's price trades above $27,000 by August 25. Bitcoin bears will benefit from the threat of harsh regulation Cryptocurr...

Bitcoin traders ramp up bullish prognoses as BTC price faces down key resistance — can bulls stay the course? Bitcoin (BTC) consolidated at a key flip zone on Aug. 9 as BTC price strength staged a sudden return. BTC/USD 1-hour chart. Source: TradingView BTC price toys with $29,700 "party" level Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading near $29,800 after a surge during the previous day’s Wall Street trading hours. That followed a recovery from local lows under $28,700, and topped out only after a trip to $30,210 — Bitcoin’s highest August price so far. The rapid change in mood soon impacted market participants’ expectations for the market. “That indeed was the higher low, Bitcoin continues to maintain a bullish market structure,” popular trader Jelle said in part of an X post about the sub-$28,000 run. “Needs to break $32,000 from here, let's see if this bounce has any legs.” That indeed was the higher low, #Bitcoin continues to maintain...

BTC price retracing deeper than $25,000 is "possible," analysis warns, with $28,300 the line in the sand for Bitcoin bulls. Bitcoin (BTC) stayed static at the July 31 Wall Street open as analysis warned that the net was closing in for bulls. BTC/USD 1-hour chart. Source: TradingView $28,300 "last line of defence" for BTC price Data from Cointelegraph Markets Pro and TradingView followed the BTC price as it greeted the last trading day of July with more sideways behavior. Much like the weekend and the week prior, nothing seemed able to effect a major trend change, while a brief spurt above $29,500 after the weekly close provided the most interesting intraday event. “BTC took out $29.5k last night, but so far bulls haven't been able to muster enough momentum to advance. All eyes are on the monthly close which could open the door to some volatility,” monitoring resource Material Indicators wrote in part of its latest analysis. Uploading a snapshot of the BTC/USD o...

Bitcoin tries to cement higher support as an important day for markets arrives. Bitcoin (BTC) spiked through $31,000 on June 30 as a nearly $6 billion open interest expiry loomed. BTC/USD 1-hour chart. Source: TradingView Options expiry precedes day of BTC price triggers Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting local highs of $31,268 on Bitstamp before returning lower. BTC price performance improved into a key quarterly options expiry event, the second largest in Bitcoin’s history, with analysts keen to see its effect on markets. “Will be interesting to see how much is rolled over to future expirations and whether that OI is call or put dominant --> as that will impact how dealers hedge (buy or sell BTC),” financial commentator Tedtalksmacro wrote in part of associated commentary. June 30 represented a key date for BTC traders all around, with the options expiry forming just one in a series of key events. Macroeconomic data from the United States i...

Bitcoin is increasingly active in Asia as U.S. supply share dwindles over the past two years. Bitcoin (BTC) abandoned the United States during the 2022 bear market, new research suggests. In a tweet on June 8, on-chain analytics firm Glassnode revealed some surprising conclusions about who is now using Bitcoin. BTC supply moves to Asia The past year has seen some seismic shifts in where Bitcoin is held and traded. In its latest Analysis of the BTC supply , Glassnode measured its migration around the world — notably, away from the U.S. and toward Asia. Since mid-2022, the amount of the supply held and traded by U.S. entities has decreased by more than 10%. At the same time, Europe’s share has stayed roughly equal, translating to a redistribution from west to east. “A clear divergence is visible in the year-over-year BTC supply change based on geographical regions. The extreme dominance of US entities in 2020-21 has clearly reversed, with US supply dominance falling by 11% since mid-2...

BTC price action gives analysts reasons to be bearish, while Bitcoin shuns volatility from the day’s macro triggers. Bitcoin (BTC) returned above $26,000 on May 25 after an overnight dip offered a retest of recent lows. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView BTC price action acts around key 200-week moving average Data from Cointelegraph Markets Pro and TradingView showed BTC/USD acting in its range from the day prior, having recovered from flash weakness after the daily candle close. With little excitement present on spot markets, traders and analysts looked for potential volatility catalysts. The day’s macroeconomic reports from the United States, which included gross domestic product estimates for Q2 and jobless claims, failed to shake up the status quo. News: GDP comes in at 1.3%, while 1.1% forecasted. Unemployment claims are also coming in more positive than expected at 229K, while 249K forecasted. Economy is still 'strong'. — Michaël van de Poppe (...

Ethereum’s Shanghai upgrade is set to unlock a trove of staked Ether and possibly benefit other staking protocols that offer lucrative yields. Ethereum’s upcoming Shanghai upgrade will allow users to withdraw staked Ether (ETH), increasing the network’s liquid ity and competitiveness while also boosting its staking ratio closer to its competitors. The Shanghai upgrade is a hard fork of Ethereum tentatively scheduled to occur in March. It implements five Ethereum Improvement Proposals, the headliner being EIP-4895, which allows users to withdraw their locked-up tokens representing staked Ether from the Beacon Chain. The ability to withdraw staked Ether could increase market liquid ity and make it easier for users to access their funds. Ethereum liquid staking platforms, which largely emerged to alleviate the blockchain’s prohibitive lock-up and staking requirements, could also benefit from the upgrade . Since the Ethereum network moved to proof-of-stake (PoS) in September 2022, i...

Bitcoin bulls struggle to influence the trend as CPI nerves combine with already weak low-timeframe performance. Bitcoin (BTC) drifted toward major liquidity around the Feb. 13 Wall Street open as the dust settled on United States regulatory news. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC traders spread bids lower Data from Cointelegraph Markets Pro and TradingView showed BTC/USD $21,476 on Bitstamp, almost matching the weekend’s three-week lows. As analysts expected a “choppy” day prior to key U.S. macroeconomic data, news that Blockchain firm Paxos was being sued by the Securities and Exchange Commission (SEC) added to market nerves. BTC spot price action thus inched ever closer to a major area of bid liquidity on the Binance order book, something which Maartunn, a contributor to on-chain analytics platform CryptoQuant, dubbed “The Great Wall.” “'The Great Wall' (price support) on Bitcoin is placed at $21,500. This morning some bids got filled. Thereby...

The ex-BitMEX CEO announces a BTC deployment "over the coming days" amid hope that the good times will last for crypto until the middle of the year. Bitcoin (BTC), Ether (ETH) and even nascent altcoins are a solid “buy,” a previously risk-off investor says. In a blog post released Feb. 8, industry stalwart Arthur Hayes announced a U-turn on his current crypto investment plans. Hayes changes tune on "risky assets" Current macroeconomic conditions stemming from the United States Federal Reserve previously made Arthur Hayes keen to avoid what he calls “risky assets.” As inflation slows and the Fed’s rate hikes with them, multiple new storms are brewing in the U.S., and the Fed, as well as Congress and the Treasury, will all steer the economy as they see fit, he says. The problem is guessing how these events will play out over the course of the year. For Hayes, 2023 could well be split into two halves, with H1 being an ideal investment environment for crypto. This runs...

The second best January on record for BTC price action comes face-to-face with differing opinions on U.S. economic policy. Bitcoin (BTC) hovered around $23,000 on Feb. 1 after sealing its best January performance in ten years. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView End of Bitcoin bear market is "default view" Data from Cointelegraph Markets Pro and TradingView confirmed a monthly close of around $23,100 for BTC/USD — its highest since July 2022. The largest cryptocurrency finished the first month of the year up 39.6%, according to statistics from Coinglass. BTC/USD monthly returns comparison (screenshot). Source: Coinglass The impressive performance emboldened bulls, many of whom had kept the faith despite mass misgivings from more conservative market participants. “Bitcoin closes with a Monthly swing low,” trader, entrepreneur and investor Bob Loukas reacted. “I mean, anything can happen, right. But the absolute default view must be the bear market ende...

Market analyst Cole Garner suggests that Bitcoin bulls are in for a treat amid an ongoing BTC price renaissance. Bitcoin (BTC) remains firmly “bullish” at $23,000, according to new on-chain metrics from one of the industry’s best-known names. In a preview on Jan. 28, market cyclist and on-chain analyst Cole Garner revealed what he said were “backtested and validated” Bitcoin trading tools. Garner: BTC price signals should excite bulls While BTC/USD attempts to push through liquidity above $23,000, the debate rages as to whether a significant BTC price correction is due. For Garner, who offered a snapshot of several trading signals to Twitter users at the weekend, there is no doubt — the picture is firmly green. “They are looking so bullish right now,” he summarized in part of accompanying commentary. One metric compares the ratio of BTC to stablecoins across exchanges. This has hit multi-year highs, a screenshot appears to show, beating its peaks from any event since early 2020. “It ...

It's a game of cat and mouse for BTC price and TSLA stock this month, but so far, Tesla is staging a stronger rebound. Bitcoin (BTC) may be up 16% so far in 2023, but one stock it outperformed last year is now getting its revenge. Data from Cointelegraph Markets Pro and TradingView shows that for all its newfound strength, Bitcoin is still playing catch-up. Tesla up almost 25% from January low Tesla was in the headlines throughout 2022 as its rapid rise to prominence — and stock price gains — steadily unwound. Despite CEO Elon Musk making history with his personal wealth losses, however, TSLA has so far recovered by almost 25% since Jan. 6. TSLA/USD 1-hour candle chart (NASDAQ). Source: TradingView Amid an atmosphere of declining inflation in the United States and a surge in the price of safe haven gold, the stage is arguably being set for a broader risk asset rebound. After seeing grim year-on-year losses of nearly 65%, Bitcoin itself is also keenly eyeing potential for growth...

Bitcoin price hit a year-to-date high near $19,000 as pro traders used leverage to propel the pump, but derivatives data hints at reasons for BTC price to retest $17,300. Bitcoin (BTC) price has gained 15% in the past 13 days, and during this timeframe, traders’ bearish bets in BTC futures were liquidated in excess of $530 million compared to bulls. After rallying to $19,000 on Jan. 12, Bitcoin reached its highest price since the FTX exchange collapse on Nov. 8. The move was largely fueled by the United States Consumer Price Index (CPI) expectation for December, which matched consensus at 6.5% year-over-year — highlighting that the inflationary pressure likely peaked at 9% in June. Furthermore, on Jan. 11, FTX attorney Andy Dietderich said $5 billion in cash and liquid cryptocurrencies had been recovered — fueling hopes of partial return of customer funds in the future. Speaking to a U.S. bankruptcy judge in Delaware on Jan. 11, Dietderich stated that the company plans to sell $4.6 ...

Bitcoin's yearly losses are similar to high-profile stocks like Tesla and Meta with BTC investors down 70% in 2022. Gold and stocks have underperformed in 2022, but the year has been difficult for Bitcoin (BTC) investors, in particular. Worst year for Bitcoin since 2018 Bitcoin price looks prepared to close 2022 down  nearly 70% — its worst year since the crypto crash of 2018. Bitcoin monthly returns. Source: Coinglass.com BTC's depressive performance can be explained by factors such as the Federal Reserve hiking interest rates to curb rising inflationary pressures, followed by the collapse of many crypto firms, including Terra, Celsius Network, Three Arrow Capital, FTX, and others. Some companies had exposure to defunct businesses, typically by holding their native tokens. For instance, Galaxy Digital, a crypto-focused investment firm founded by Mike Novogratz, confirmed a $555 million loss in August due to holding Terra's native asset LUNA, which has crashed 99.99% YTD...