Chain News Today TheBitTimes.com

After hitting its monthly lows on March 11, the cryptocurrency market entered an accelerating uptrend, which, within approximately two weeks, ensured its market capitalization grew more than $350 billion from about $2.48 trillion to roughly $2.85 trillion. On Wednesday, March 26, the upswing abruptly ended, and trading between Thursday and Friday  proved particularly damaging. Digital assets erased more than $100 billion within a single day. Furthermore, weekend movements quashed any hopes of a swift positive correction. Indeed, between Friday and Monday, the total cryptocurrency market capitalization plunged another $110 billion, with the 24 hours leading to the morning of March 31 alone erasing nearly $38 billion. Picks for you Whales dump over 1 billion XRP ahead of Ripple unlock 2 hours ago ...

Bitcoin (BTC) has struggled in the opening months of the year. Now, the Bitcoin short ratio has seen a rapid increase. In the second half of March, the leading cryptocurrency has been trading in a range between $83,000 and $88,000, but this latest bearish development could herald another retest of crucial support levels. First, let’s recap recent price action. In the past 24 hours, the price of the flagship digital asset has increased by 0.23%, accompanied by an appreciable amount of volatility. On a year-to-date (YTD) basis, Bitcoin has lost 7.43% in value. BTC price 1-day and year-to-date (YTD) charts. Source: Finbold That certainly isn’t bearish price action. In addition, readers should note the spike in volume seen in early March on the chart to the right, which indicates a strong level of demand at the $80,000 price point. Picks for you ...

Bitcoin (BTC) sentiment turned slightly bullish after a recent correction, testing the $60,000 psychological resistance. However, an analyst weighed in, warning that Bitcoin’s price chart “is bearish and says down” while explaining he is short. The short-seller is Alan Santana, a prominent cryptocurrency technical analyst who shared this idea on TradingView on September 11. Santana has updated his trading status, with the last update on Saturday, September 14, doubling down on the bearish bias. “Last time, the majority of the people were wrong. They believed Bitcoin was going up while very strong and clear signals were pointing to the contrary. The market did not move to make those inexperienced traders happy, instead it moved according to the chart. Now, here I am not sharing my opinion or personal conviction, I am reading the chart. The chart is bearish and says down.” – Alan Santana ...

The month of August has been largely uneventful for Bitcoin so far, with the premier cryptocurrency having struggled to reclaim the $65,000 price mark since August 2. Currently, Bitcoin is slightly below $60,000 as the bulls and bears seek to grab control in what has been a range-bound market for the past week. Interestingly, CryptoQuant analyst XBTManager has shared revelations that indicate the BTC market is likely to maintain its current bearish form for the time being. Related Reading Bitcoin Bears in Control? Record Low Funding Rates on Binance Signal Market Shift 11 hours ago Wide Spot-Perpetual Gap Spells Trouble For Bitcoin On August 16, XBTManager reported that Bitcoin’s Spot-Perpetual Price Gap, as tracked on the Binance exchange, is continually in a negative form indicating that the asset may record more price loss due to a su...