The safe-haven narrative is back in the spotlight. The obvious question is whether Bitcoin can eventually be integrated into this narrative. The setup looks interesting (new tensions between the U.S. and Iran) as oil prices regain $90/barrel and the market prices in a 60% probability of a rate hike at the upcoming FOMC. In other
As Bitcoin retreated to the $77,000 level after its recent surge, on-chain analyst Willy Woo suggested that Bitcoin’s traditional four-year market cycle could change in the future. At this point, Woo, who discussed Bitcoin’s traditional four-year market cycle, stated that this model may change in the coming period. Woo stated that Bitcoin could shift away
Something interesting is happening in financial markets today. The Japanese yen is rising across the board, yet bitcoin $BTC$77,877.45 and gold are trading higher as well, contrary to the conventional view that a strengthening yen is a risk-off signal. The reason seems rooted in the yen’s impact on the Dollar Index (DXY). The dollar-yen (USDJPY)
BlackRock’s Bitcoin exchange-traded fund (ETF) has narrowly outperformed the S&P 500 since launch despite subjecting investors to a drawdown nearly three times as deep. The iShares Bitcoin Trust, or IBIT, returned 67.74% from its Jan. 11, 2024 debut through Aug. 31, compared with 66.14% for Vanguard’s S&P 500 ETF, or VOO, on a total-return basis
Investors withdrew $43.7 million from Fidelity’s spot Bitcoin exchange-traded fund [ETF] on 1 September, adding to a wider reversal that was seen across the US market. The Fidelity Bitcoin outflow was notable, but it was not the largest that was seen on the day, BlackRock’s fund accounted for most of the $236.5 million that left
In brief Bitcoin is consolidating near $77,500 after spiking from roughly $64,420 to nearly $80,700 in six trading days last week, the move traders are calling a “Bart Simpson” setup. The four-hour chart’s own indicators show a stalling market, not the violent breakdown a completed Bart Simpson pattern requires. Analysts have flagged $75,800 as the
Bitcoin’s nearly 40% rise from its lows in late June has reignited debates about whether a new bull cycle has begun in the cryptocurrency market. Frontier-tech investor Didier and macro hedge fund portfolio manager Griffin Ardern discussed Bitcoin’s recent recovery and how the market might shape up going forward. While the two largely agreed on
Summary Bitcoin closed August at $78,571, its strongest August since 2017. Spot ETFs took in a net $2.77 billion over 13 sessions. Crowd sentiment stayed weaker during the rally than in flat July. Price is compressing above the $75,880 Fibonacci floor. Bitcoin price dropped to $77,316 on Tuesday, September 2, down 0.16% on the day
Bitcoin traders are watching their screens this week after Bybit flagged a technical pullback on August 21. The bitcoin price pullback that followed has shaved 3.3% off the token’s value since that warning. Key takeaways Bybit issued a warning on August 21 about a technical pullback in Bitcoin’s price. Bitcoin has dipped 3.3% since that