Bitcoin (BTC) price is down this week, and naturally, bears will always find some reversal signal whenever the price shows strength, such as the 8% gain on Nov. 28. Of course, technical analysis is not an exact science, so there is a margin for interpretation and most traders look at multiple timeframes to find a narrative that suits their bias. Currently, BTC price is in a descending channel that started on Oct. 31, and if this pattern plays out, Bitcoin could drop to $50,000 in the short term. Cryptocurrency markets crashed on Nov. 26 after concern over a new COVID-19 …

For traders who are undecided on Bitcoin's (BTC) move, the "long condor with call options" yields optimal results with very low risk. This strategy offers protection down to $53,500, which would be a 7% downside move from the current $57,600, and returns a positive outcome up to $67,500. Options markets provide more flexibility to develop custom strategies. Unlike futures, there are two separate instruments available. The call option gives the buyer upside price protection, while the protective put option offers the opposite. This long condor strategy has been set for the Dec. 31 expiry and uses a slightly bullish range. …

Today Ether (ETH) price briefly touched $4,760, exciting investors and reminding the world that the altcoin is a mere 2.2% below the $4,870 all-time high reached 20 days ago. While the spot price action might be intriguing, let’s see what’s happening in Ether’s derivatives markets. While it is possible to draw a descending channel that shows support at $3,960, today's 5.4% positive move seems decoupled from Bitcoin's (BTC) negative performance. Earlier today, commodities and stocks took a hit after the U.S. Federal Reserve acknowledged that inflation is more than just a "transitory" trend and Fed chair Jerome Powell said that …

Solana (SOL) held onto its intraday gains on Nov. 30 as Grayscale Investments, the largest cryptocurrency fund in the world, announced that it would add SOL to its product line. The digital asset class is growing, and we’re expanding our offerings along with it! Gain exposure to $SOL, the native token of the @Solana network, through new Grayscale #Solana Trust. Learn more: https://t.co/QiT6u0xI7h pic.twitter.com/KAxRZAriRl — Grayscale (@Grayscale) November 30, 2021 A $300 SOL ahead? SOL rallied to nearly $217.50 after rising by over 6.50% intraday. The Solana token's gains primarily came as a part of a recovery move that started …

Shiba Inu (SHIB), a Dogecoin-inspired meme cryptocurrency, emerged as one of the best performers across traditional and crypto markets entering the new weekly session as its price climbed by over 30% week-to-date. SHIB's price reached $0.00005155 Tuesday after bouncing from its technical support near $0.00003560 at the beginning of this week. Its rebound signaled a shift in trend, especially after the last week's broader market selloff, induced by concerns related to the new Covid19 strain, dubbed Omicron. Bullish catalysts for Shiba Inu price At the core of Shiba Inu's upside retracement was Kraken, a U.S.-based cryptocurrency exchange that announced Monday …

The $4,700 Bitcoin (BTC) price spike on Nov. 29 was likely a great relief for holders, but it seems premature to call the bottom according to derivative metrics. This should not come as a surprise because Bitcoin price is still 15% below the $69,000 all-time high set on Nov. 10. Just 15 days later, the cryptocurrency was testing the $53,500 support after an abrupt 22% correction. Today’s trend reversal was possibly encouraged by MicroStrategy’s announcement that it had acquired 7,002 Bitcoin on Monday at an average price of $59,187 per coin. The listed company raised money by selling 571,001 shares …

Sentiment in the cryptocurrency market is back on the rise on Nov. 29 as the recent dip down into the “extreme fear” zone on the Crypto Fear and Greed Index slightly improved after Bitcoin (BTC) recovered above the $57,000 support, lifting the index higher into the “fear" zone. Despite the overall “fear” and “extreme fear” sentiments that have been dominating the market since the index began to decrease on Nov. 16, several sub-sectors of the cryptocurrency market including Metaverse-related projects and gaming protocols have seen breakouts to new all-time highs. The rapid gains seen in these projects has led to …

The performance of cryptocurrencies in the past 7 days might have seemed slightly unexciting, especially since the total market capitalization increased by “only” 1.8% to reach $2.7 trillion. However, even with the muted price action, some altcoins managed a decent rally. Bitcoin (BTC), on the other hand, was down 6% until Nov. 28, but it still managed to close the week up 1.5% after a $3,200 rally on Sunday night. Metaverse tokens are still pushing to new highs The metaverse sector continued to outperform with Gala (GALA), The Sandbox (SAND), and Decentraland (MANA) among the top 5 gainers. While few …

Deribit exchange is the absolute leader in the Bitcoin (BTC) options markets and on Nov. 24 the 25% delta skew indicator signaled that sentiment among pro traders was becoming “more bearish overall.” We've seen 25-Delta put skew moved from around 0% to almost 10-15% pending time to expiry since beginning of Nov implying a more bearish overall sentiment. Premiums for downward protection are getting more expensive. In the short term, this expiry has a Max pain of $58k. https://t.co/jhpT1riX3g — Deribit (@DeribitExchange) November 24, 2021 Bitcoin price appears to following a descending channel since Nov. 9, so a “bearish” signal …

Basic Attention Token (BAT) rallied to a new record high on Nov. 26 even as global markets plunged in tandem on fears about a highly mutated variant of Covid19 detected in South Africa. BAT's price surged over 30% on Friday to reach $1.88 for the first time in history, with its market capitalization rising to $2.74 billion. Its climb appeared in contrast to the cryptocurrency market that lost up to nearly $283 billion in the same period. BAT snubs crypto crash Bitcoin (BTC), the world's largest cryptocurrency by market capitalization, led the losses by falling by as much as 7.5% …

Shiba Inu (SHIB) edged further down on Nov. 24 as its appeal among the army of retail traders, who helped it rally by more than 535% to a record high of $0.00008854 earlier this year, declined. SHIB's price dropped by nearly 60% after establishing the said all-time high on Oct. 28, signaling that traders have been actively locking their Shiba Inu profits. That has further resulted in a substantial drop in SHIB's benchmark instrument SHIB/USDT's volumes on Binance, underscoring a weak retail interest. In doing so, SHIB tokens' reported market capitalization slipped to $21.30 billion from around $28.31 billion in …

SAND, the native token of the Sandbox — a blockchain-based gaming platform owned by Animoca Brands, inched higher on Tuesday, building on its gains made all across November, to reach another record high. SAND token price rose to $5.64 after swelling 16.25% intraday but retraced some of those gains to trade at $5.54 at the press time. The move took the Sandbox token's month-to-date (MTD) and year-to-date (YTD) gains to nearly 260% and over 14,700%, respectively, with its market capitalization crossing above $5 billion, making it the 41st-largest coin in the sector. Many catalysts behind the SAND price rally This …