The price of Bitcoin (BTC) in Nigeria has skyrocketed to well above market levels amid continued efforts by the central bank to push its citizens into digitalized cash. At the time of writing, the price of 1 BTC on Nigerian crypto exchange NairaEX is currently 17.8 million Naira, equating to a whopping $38,792. This represents more than a 60% premium over the current market price of Bitcoin, which is around $23,700 at the time of writing. It comes as the Central Bank of Nigeria has continued to impose limits on ATM cash withdrawals amid an ongoing effort to accelerate its …

Bitcoin (BTC) has just clocked its 11th consecutive day outside the “Fear” zone in the Crypto Fear and Greed Index, cementing its longest streak out of fear since March 2022. Bitcoin Fear and Greed Index is 61 - Greed Current price: $23,780 pic.twitter.com/U5gxN3AwnT — Bitcoin Fear and Greed Index (@BitcoinFear) January 30, 2023 It comes as Bitcoin hit $23,955 at 8:10 pm UTC time on Jan. 29, becoming this year’s newest all-time high. Though it has since come back down slightly to $23,687 at the time of writing. Meanwhile, Bitcoin sentiment is currently sitting firmly in the “Greed” zone with …

Bitcoin (BTC) has rallied nearly 40% so far in January, which is the best start to the year since 2013. The sharp up-move has turned several on-chain signals bullish, according to on-chain analyst Cole Garner. Usually, a sharp recovery from the market lows, driven by the leader, is a sign that strong hands may be buying aggressively. That could be because traders believe the selling may have been overdone in the near term or they found the valuation to be attractive. After the initial runup, a swift correction could be expected, which will shake out the weak hands. The next …

Bitcoin (BTC) spiked into key liquidity for a third time into Jan. 29 as the weekly and monthly closes loomed. Trader on Bitcoin: $25,000 "in sight" Data from Cointelegraph Markets Pro and TradingView showed BTC/USD briefly hitting $24,498 on Bitstamp overnight. The move, although short lived, marked the pair's third such attempt to take sell-side liquidity above $23,400 in recent days. In each instance, bulls appeared to lack momentum to reclaim new support levels, and at the time of writing, the status quo remained the same, with Bitcoin trading just below liquidity at $23,250. Previous order book data from Binance …

Bitcoin (BTC) bulls do not need to wait long for the United States to start printing money again, commentators believe. The latest analysis of U.S. macroeconomic data has led one market strategist to predict quantitative tightening (QT) ending to avoid a “catastrophic debt crisis.” Analyst: Fed will have "no choice" with rate cuts The Federal Reserve continues to remove liquidity from the financial system to fight inflation, reversing years of COVID era money printing. While interest rate hikes look set to continue declining in scope, some now believe that the Fed will soon have only one option — to halt …

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 …

Despite the recent negative crypto and macroeconomic newsflow, the total cryptocurrency market capitalization broke above $1 trillion on Jan. 21. An encouraging sign is that derivatives metrics are not showing increased demand from bearish traders at the moment. Bitcoin (BTC) price gained 8% on the week, stabilizing near the $23,100 level at 18:00 UTC on Jan. 27 as the markets weighed the potential impact of Genesis Capital's bankruptcy on Jan. 19. One area of concern is Genesis Capital's largest debtor is Digital Currency Group (DCG), which happens to be its parent company. Consequently, Grayscale funds management could be at risk, …

After two weeks of a stupendous rally, Bitcoin’s (BTC) price has largely been flat this week. This is a positive sign as it shows that market participants are not growing nervous before a slew of central bank meetings take place next week. The United States Federal Reserve, European Central Bank and Bank of England are scheduled to announce their policy decisions next week. The confidence of the bulls received another boost after the U.S. core personal consumption expenditures (PCE) data for December showed the slowest annual rate of increase since October 2021. The core PCE rose 4.4% from a year …

A bill introduced to the New York State Assembly on Jan. 26 would allow state agencies to accept cryptocurrency as a form of payment for fines, civil penalties, taxes, fees, and other payments charged by the state. JUST IN: A New York Senate has introduced a bill to allow #Crypto as a form of payment — Interpret Crypto (@interpretcrypto) January 27, 2023 New York State Assembly Bill A523 was introduced by Democratic Assemblymember Clyde Vanel, who is often seen as a crypto-friendly politician. It allows state agencies to enter into “agreements with persons to provide the acceptance, by offices of …

Bitcoin (BTC) has “well-formed” evidence, which suggests that its next all-time high will top out at $200,000, one analyst says. In a tweet on Jan. 27, popular Twitter commentator Trader Tardigrade, also known as Alan, also revealed $70,000 as the next potential bear market bottom. Stochastic indicator offers Bitcoin bulls historical firepower For many, BTC price action is still bound by Bitcoin’s four-year halving cycles. The resulting price pattern offers one “all time high year” in every four, with 2025 next in line. Bitcoin’s block subsidy halving will occur a year prior, and from then on, Alan argues, the path …

Wendy Rogers, a state senator in Arizona, United States, has launched bills concerning cryptocurrency, including one that aims to make Bitcoin (BTC) a legal tender in Arizona. In a recent tweet, Rogers cited data from investment firm Goldman Sachs that BTC is the best-performing asset in the world and announced that she launched a set of crypto bills. “Breaking: #Bitcoin is the best performing asset in the world this year according to data from Goldman Sachs.” Launched my #Crypto bills today, as well as Photo Radar Prohibition, which included nearly all my Republican senator colleagues as cosponsors @JeffWeninger @JDMesnard pic.twitter.com/ueUeFSEybo …

Market analysts rely on many technical indicators to anticipate future trends, one of which is the very-popular ascending triangle chart pattern. What is an ascending triangle pattern? As the name indicates, an ascending triangle on a chart forms when the price consolidates between a rising trendline support and a horizontal trendline resistance. The pattern typically appears during persistent uptrends or downtrends. Most technical analysts see it as a "continuation pattern," meaning the general market trend is likely to resume. For example, the Bitcoin (BTC) price chart above shows the BTC/USD trading pair form an ascending triangle pattern between April 2020 …