Bitcoin (BTC) and most major altcoins seem to be faltering near their respective overhead resistance levels. This suggests that some investors are continuing to sell at higher levels. However, 21st Paradigm co-founder Dylan LeClair said that on-chain data shows “big transfer volumes from over-the-counter (OTC) desks over the last week.” Cointelegraph also recently highlighted a historic 57,000 BTC outflow from exchanges on July 28. Ecoinometrics also cited on-chain data to show that "whales" and “small fish'' accumulated Bitcoin when the price recovered from $29,400 to over $40,800 this week. Institutional investors are also not to be left behind in their …

Ethereum's native asset Ether (ETH) faces prospects of closing above $14,000 sometime in 2021 based on its current trend's striking similarity with the one from last year. Ether price fractal First spotted by user TradingShot, the Ethereum fractal involves three technical indicators: a 50-day simple moving average (50-day SMA), a Fibonacci channel, and a relative strength index (RSI). Ether closed above its 50-day SMA in July 2021, the first time since the May 2021 bearish correction. As TradingShot noted, breaking above the said moving average wave historically predicts bull runs. For instance, a run-up above the 50-day SMA in April …

Bitcoin (BTC) and most major altcoins are attempting to break above their respective overhead resistance levels, indicating the return of the bulls. Data from Bybt shows that the Grayscale premium has been climbing and reached -5.88% on July 27, its closest level to zero since May 25. This suggests that institutional investors may have again started building positions via the Grayscale Bitcoin Trust. Another institutional investment product showing a possible return of buyers is Canada’s Purpose Bitcoin ETF whose assets under management rose to 1.1 billion Canadian dollars on July 27, its highest level since May 13. Swiss private bank …

Bitcoin (BTC) soared from $29,482.61 on July 21 to $40,000 today, its highest level since June 16. This sharp rebound shows a possible change in sentiment. The bulls received a boost on Sunday, following the news from an anonymous source within Amazon proclaiming that the company is planning to accept Bitcoin payments by the end of 2021 and is exploring the launch of its own cryptocurrency by 2022. This news seems to have sent the bears scurrying to the exit, resulting in a short squeeze. Data from Bybt shows about $1.1 billion of liquidations in 24-hours on Monday, the most …

The price of Ether (ETH) jumped to a three-week high on Monday, triggered by similar gains in the Bitcoin (BTC) market that appeared in the wake of rumors about Amazon’s foray into the cryptocurrency sector. A job posting from the retail giant showed that it is seeking an executive to build its “digital currency and blockchain strategy.” Meanwhile, global media reports have been speculating, based on inside sources that Amazon would start accepting Bitcoin as payments. As a result, the BTC/USD exchange rate surged to its six-week high after the news. Ether, whose 30-day correlation with Bitcoin stands at 88%, …

Bitcoin’s (BTC) recovery is facing stiff resistance near the $35,000 mark but Bloomberg Intelligence senior commodity strategist Mike McGlone remains bullish. In his latest analysis, McGlone said that the probability of Bitcoin hitting $60,000 is greater than the price dropping to $20,000. Institutional investors seem to be using the weakness in Bitcoin to build their positions. Cathie Wood's Ark Invest added more than 450,000 shares of Grayscale Bitcoin Trust in two separate buys in the past week, increasing their holdings to more than 9 million shares. In addition, Edge Wealth Management and Rothschild Investment Corp also added GBTC shares to …

Bitcoin’s (BTC) recovery is facing resistance near $32,500, suggesting that the ride higher may not be an easy one. However, a positive sign is that demand for cryptocurrencies remains strong and lower levels continue to attract buyers. A survey of 150 family office clients of Goldman Sachs shows that 15% have already invested in crypto-assets and 45% want to take the plunge. The family offices manage more than $6 trillion in assets, meaning, even a small percentage of inflow from this sector could eventually boost crypto prices. It is not only the wealthy who are investing in cryptocurrencies. A recent …

Anish Saxena, a New Delhi-based automobile dealer, made “incredible” profits by investing in cryptocurrencies in 2020, just as his business took a hit from the coronavirus pandemic-induced lockdown. “I had known about Bitcoin and Ethereum and dozens of other assets for years,” the 33-year old businessman said. “But I only got to invest in them after the lockdown pushed me and my family members out of work. And it helped us survive — big time.” Saxena revealed that he had allocated about 80% of his investment portfolio to Bitcoin (BTC) and Ether (ETH), with the rest of his capital distributed …

Bitcoin (BTC) circled $32,000 on Thursday after excitement over fresh comments by Elon Musk resulted in the strengthening of support. BTC bulls regroup at $32,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD ranging between $31,500 and $32,000 overnight on Wednesday hours after Musk joined others in praising Bitcoin during a conference panel. As Cointelegraph reported, Musk’s words came over broadly positive and less critical than many had assumed they would be — this, in turn, led to a brief price surge that topped out above $32,800. Thereafter, familiar resistance kicked in, and $32,400 once more became the level …

Bitcoin (BTC) is leading the recovery in crypto markets today after the price rallied back above the $32,000 level. Sam Trabucco, a quantitative trader at Alameda Research, said the firm had purchased the dip in Bitcoin on July 20. Trabucco said the sharp recovery in equity markets, fewer long liquidations in the crypto derivatives market and the possible end of FUD caused due to China mining ban and Grayscale unlocking could act as recovery catalysts that could boost the crypto rally further. However, analyst and podcast host Nebraskan Gooner views the recovery in Bitcoin as a shorting opportunity. Veteran trader …

Bitcoin (BTC) bulls could celebrate a modest victory on Wednesday after record bids kept BTC/USD its 2021 opening price. $31,000 back in play for BTC Data from Cointelegraph Markets Pro and TradingView showed the largest cryptocurrency avoiding a trip lower than $29,000 over the past 24 hours. After breaking through $30,000 support, concerns swiftly mounted that Bitcoin would surpass even its May lows and continue toward $24,000 or lower. These ultimately did not come to pass, thanks to, as Cointelegraph reported, the “biggest bid ever” keeping bears working. With that, BTC/USD was back above $30,000 at the time of writing …

Billion-dollar investment firm Rothschild Investment Corp quadrupled its exposure to Bitcoin (BTC) since April, new records show. In a filing with the United States Securities and Exchange Commission (SEC) on Saturday, Rothschild confirmed that it now owns 141,405 shares of the Grayscale Bitcoin Trust (GBTC). Rothschild GBTC shares near 150,000 A quiet but nonetheless substantial player among institutions, Rothchild Investment Corp has also invested in Grayscale’s Ether (ETH) equivalent, the Grayscale Ethereum Trust. Its exposure to Bitcoin has increased considerably this year, the filing shows — in April, its GBTC shares totaled 38,346. In BTC terms, with each GBTC share …