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Bitcoin has surpassed $40,000, why BTC remains well supported
The price of bitcoins has risen and even surpassed the $40,000 resistance to the U.S. dollar.
The bitcoin price began a serious rally after it broke through the key $35,000 resistance zone.
The price climbed above the $38,000 level and finally climbed above $40,000 resistance. However, the bulls had difficulty holding the price above the $40,000 level. A high near $40,484 was formed and the price began a downward correction.
Ethereum shrinks profits, why ETH could resume growth
Ethereum failed to hold above $2,400 and began a serious correction against the U.S. dollar.
Ethereum began a serious upward move above $2,000 resistance, as did bitcoin. The ETH price moved above $2,250 resistance and the 100-hour simple moving average.
Investors continue to lose interest in cryptocurrency products in July, reports Report
Depressed sentiment continues to prevail among investors and in the cryptocurrency market.
The monthly report shows that assets under management are down 14 percent from the previous month, according to the CryptoCompare report. Meanwhile, total trading volumes were down 35.4% across all digital asset investment product markets.
Amazon News raised bitcoin price by 15%, liquidated over $640 million worth of short positions
News that e-commerce giant Amazon is working on integrating bitcoin payments caused fireworks.
Bitcoin now trades at $38,315 with a market capitalization of $719 billion. In just the last hour, more than 640 million short positions have been closed.
Cryptocurrency exchange Huobi closes its facility in China
The founders of Huobi Group and OK Group are shutting down their Chinese operations.
Huobi is shutting down a Beijing-based company that was founded in 2013 to run its cryptocurrency exchange, which was originally based in China.
According to business registration records in China, Beijing Huobi Tianxia Network Technology Limited’s stakeholders decided to dissolve the firm by publishing a notice on July 22.
Binance US considers IPO, says, Changpeng Zhao
Zhao is looking for a new Binance CEO with a “very strong regulatory base.”
Cryptocurrency exchange Binance US may go public, Binance CEO Changpeng “CZ,” Zhao said.
“Our partner in the U.S. is exploring a potential IPO route,” Zhao said Friday at a “Redefine Tomorrow” event hosted by SCB 10X, the venture capital arm of Thailand’s oldest Siamese commercial bank. However, the route of the IPO “is not yet 100 percent determined,” he said.
GBTC premium rebounds sharply as bitcoin prices rise, whale buying continues
On Monday, July 26, the price of bitcoin showed a strong recovery on its way to $40,000.
The Grayscale Bitcoin Trust premium rose sharply. Approaching the zero axes, the GBTC premium reached a 2-month high of -3,407. According to Tiger Trade, GBTC’s premium jumped more than 24% on July 26 during trading hours in the eastern United States.
On the other hand, network data provider Santiment reported that “millionaire-level” bitcoin kitty addresses continue to pile up.
GBTC’s premium has risen sharply
Whales have purchased 170,000 bitcoins in the past 6 weeks: Santiment data
Small to mid-sized whales continue to accumulate bitcoins, according to the latest analytics data.
Data provided by Santiment’s popular analytics team shows that large bitcoin holders continue to buy the flagship cryptocurrency at the bottom for long-term storage, while short-term holders continue to sell BTC, allowing the market to get rid of “weak hands.”
According to a recent tweet from Santiment, BTC whales have been buying BTC since May, when the largest cryptocurrency began its decline from an all-time high near $65,000.
In the past five weeks, they have accumulated another 130,000 bitcoins. They’ve also added another 40,000 BTC in the last 10 days, bringing the total to 170,000 BTC recently acquired.
The Whales have acquired 170,000 bitcoins.