Bitcoin Volatility Plunging While OI on Binance Is Surging with GBTC Sellers Buying BTC

Trading around $34,500, Bitcoin’s price remains range-bound between $30k and $40k.

The lack of any price action has volatility simply plunging to April levels. Amidst this low volatility, Bitcoin’s correlation with the S&P 500 has started to rise in recent weeks while the leading cryptocurrency’s correlation with commodities continues to fall.

This divergence could make the cryptocurrency attractive to investors who are looking for diversification. Mike McGlone of Bloomberg Intelligence actually expects Bitcoin to outperform Brent crude oil this year.

“The relative discount in the bitcoin price vs. the premium in crude oil may show that technicals and fundamentals are aligned for resuming the upward trajectory in the ratio,” McGlone wrote in a report last week.

“Akin to similar conditions at the end of 2016, we see the bitcoin-to-crude ratio well poised to resume its uptrend, especially if a new low in relative bitcoin volatility at the end of 2020 is a guide.”

According to trader CryptoYoda, the fact that the price of Bitcoin failed to break lower may indicate that sellers are now exhausted and might get shaken out with prices moving above recent high boundaries.

But if prices break below the last low, this newly developing trend will be invalidated and will put the momentum back into the bear’s hands.

However, if the seller exhaustion theory is, in fact, correct, “we should see a rally from these levels emerging soon,” said CryptoYoda adding,

“tighter setup implies more risk, but excellent reward in case the theory gets confirmed.”

Given that the market has been crabbing since the mid-May sell-off, investors and traders expect Bitcoin to break out of the range and push higher, maybe to form a higher range or finally turn bullish and make its way towards all-time highs.

Meanwhile, the funding rate on Bitcoin perpetual contracts is extremely low, with the highest being 0.01% while still being negative on several cryptocurrency exchanges, especially and mostly on USDT margin contracts, as per Bybt.

As trader CL of venture capital firm eGirl Capital has been noting this “hypertethermarginization” makes it hard for Bitcoin to go down, and open interest build-up could result in a squeeze that could push price upwards.

In nearly the past 20-days, the OI on Binance Bitcoin futures, where the biggest product is BTCUSDT futures, has seen an increase of 55% to 88.31k BTC.

Additionally, the big Grayscale Bitcoin Trust (GBTC) unlock that will occur this week and will follow into next week is neutral for Bitcoin price, if not bullish, as the bearish impact has already been played out.

“Most GBTC creators are doing arbs; most people getting long are buying in markets. So the unlock prob doesn’t really matter for BTC, if people sell GBTC, most will buy BTC against it,” noted Sam Bankman-Fried, CEO of crypto exchange FTX.

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Author: AnTy

Mempool & Bitcoin Fees Holding Steady as BTC Payments Hit New Highs

Bitcoin price has become range-bound around the $36,000 level, and with this lull in the action, the average cost to send BTC is also calming down.

From the 2nd highest average fees level in history at $17.5 on Jan. 12, the fees have decreased to the current $9, as per Blockchair. The highest this fee was during the Dec. 2017 peak of $20,000 at around $60.

Interestingly, despite Bitcoin being on a wild run that saw payments hit an all-time high these past weeks, breaking all the previous bull run records, average fees only went this high. Mempool transaction count, the total number of unconfirmed transactions, was also nowhere near the ATH.

transaction fees

Source: TransactionFee.info

“It’s astonishing how well the mempool is holding up and how comparatively low the transaction fees are,” noted Sergej Kotliar, CEO Bitrefill. According to him, when Bitcoin price moons, it is unlikely that fees will reach 2017 levels of bad.

These low fees are the result of segwit, fee estimation, Lightning Network, stablecoins moving to other chains, and of course, most cryptocurrency exchanges implementing payment batching now. And while Coinbase pays top-dollar fees for the next block confirmation, you only pay 1/100th of that because they batch 100 at a time.

This, Kotliar says, points to “an intrinsic aspect of centralization vs. decentralization – centralized solutions at scale are more efficient, decentralization comes at a cost.”

Strong Network

While the network is still cheap with low congestion levels, other metrics have been going for new highs — both hash rate and difficulty of Bitcoin mining are at peak.

In the world of mining, a lot of development has been happening with Mike Novogratz’s Galaxy Digital now officially mining Bitcoin. The company announced the launch of its miner financial services, including lending, investment, and risk management offerings.

The mining branch of the firm, which has been under development since before October, will be led by Amanda Fabiano, former director of mining at Fidelity, who says this will help Galaxy “deeply understand and solve for the financial needs of miners.”

Even the largest exchange in the US, Coinbase’s venture arm, is investing in mining software and services company Titan, which is currently in the beta testing phase. Mining giant Core Scientific is among the clients testing the pool.

Meanwhile, Barry Silbert is working on bringing BTC mining to North America through Foundry, which recently launched an advisory service to help power companies, government entities, and others get involved with Bitcoin mining.

This month, Foundry placed 14,000 Whatsminer MBT units and launched “what will soon become the largest U.S.-based bitcoin mining pool. It is time for bitcoin hashrate to come to the U.S.,” said Silbert, founder, and CEO of Digital Currency Group, the parent company of Grayscale, Genesis, and TradeBlock.

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Author: AnTy

Dash Price Analysis (May 10)

DASH/USD Medium-term Trend: Ranging

• The Medium-term and the short-term outlook continues in a range-bound market.
• The bears remained in control of the market within the range

Key levels

• Resistance levels : $140, $150, $160
• Support levels: $35, $25, $15


DASHUSD remains in a range-bound market in its medium-term outlook. The bears retain the control of the market as the daily session opens begin today at $79.50 in the support area

The cryptocurrency is initially down at $68.05 in the support area within the range.

A divergence is noticed as the signal of the stochastic oscillator points up at level 33% in the oversold region and price stays below the two EMAs. It suggests the overall outlook shows upward momentum while a temporary drawdown may occur within the range in the days ahead in the medium-term.

DASHUSD is ranging and trading between $136.16 in the upper resistance area and at $36.80 in the lower support area of the range. Patience coupled with a retest is needed before a position is taken.

DASH/USD Short-term Trend: Ranging

The cryptocurrency is in consolidation in its short-term outlook. The bears sustain pressure with a large bearish engulfing candle at $79.50 in the support area opens today’s 4-hourly session.

DASHUSD drops to $68.05 after which the bulls return briefly and moves the price up at $74.17 in the resistance area.

The bears return afterward and drop the price initially down at $72.47 now in the support area within the range.
With a price below the two EMAs and the stochastic oscillator signal pointing down at around level 30% in the oversold region, it suggests that the downward momentum within the range in the short-term.

DASHUSD is ranging a breakout at the upper resistance area or breakdown at the lower support area may occur, hence patience is required to allow this to happen with a retest before a position is taken.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.

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Author: Ben Jordan

Dash Price Analysis (May 3)

• The price of Dash is likely to encounter a price breakout or a price breakdown in view of a range-bound movement.
• A bullish break at the $136 will make the crypto rally above the resistance level.
• A bearish break at the $36.80 will depreciate the crypto to a low below support price level.

DASH/USD Medium-term Trend: Ranging

Key levels

• Resistance levels : $140, $150, $160
• Support levels: $30, $25, $15


DASHUSD remains in a range-bound market in its medium-term outlook. The bullish momentum at $83.83 in the resistance area is lost during yesterday’s session.

Today’s daily open candle at $83.32 in the support area which is bearish returns the cryptocurrency back within the range.

The coin is initially down at $81.65 in the support area. Price is above the EMA-50 and the stochastic signal pointing up at around level 60% in the overbought region implies the coin is in an uptrend within the range.

DASHUSD is in consolidation and trading between $136.16 in the resistance area and $36.80 in the support area of the range.

A breakout at the upper resistance area or a breakdown at the lower support area may occur; hence patience is required to allow this to happen before a position is taken.

DASH/USD Short-term Trend: Ranging

The coin continues in a range-bound market in its short-term outlook.

The 4-hourly session opens today with the formation of a bullish inverted hammer opening candle at $83.32 in the resistance. An indication of a trend reversal, hence seller’s brief return.

Price of DASHUSD further drops to $81.65 in the support area within the range. A gradual return by the bulls now pushes the crypto’s price up at $82.87 in the resistance area within the range.

Price hovers around the two EMAs; this is an indication of an undefined trend in the context of the market between the buyers and sellers.

Thus, the stochastic signal pointing down at around level 59% suggests that there may likely be a change in trend of DASHUSD in the days ahead in the short-term.

DASHUSD is in consolidation and trading between $89 in the resistance area and at $67.10 in the support area of the range. A breakout at the upper supply area or breakdown at the lower area followed by a retest may occur hence patience is required to allow this to happen before a position is taken.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss

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Author: Ben Jordan

ZILLIQA Price Prediction Today: Daily (ZIL) Value Forecast – July 31

zilliqa

• The short and medium-term outlook is in a range-bound market.
• Patience is required trading the consolidation.

Supply zone: $0.02500, $0.02600, $0.027000
Demand zone: $0.01600, $0.01500, $0.014000

ZILUSD remains in consolidation in the medium-term. The bulls maintained the momentum within the range as markets opened today at $0.01083. The rally got price initially at $0.01156 and later $0.01168, above the upper supply area of the range but the candle closed within the range.

The exhaustion denoted by wick at the supply area imply takeover of the market by the bears as price drops to $0.01056.

Price is below the two EMAs and the stochastic oscillator points down at 52% suggesting downward momentum in price within the range in the medium-term.

ZILUSD is in consolidation and trading between $0.01150 in the upper supply area and at $0.009500 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.

ZIL/USD short-term Trend: Ranging

The cryptocurrency is in consolidation in its short-term outlook. The bulls broke the upper supply area and pushed the coin to $0.01154 shortly after today’s opening at $0.01073. The bulls pushed price further high after a minor correction the retested the broken upper supply area.

Price is below the two EMAs at $0.010865 and the stochastic oscillator signal points down at 20% suggesting a downward movement in price within the range in the short-term.

$0.001100 is the upper supply area while $0.001000 is the lower demand area. A breakdown or breakout in price may occur, hence patience should be exercised before taking a position after retest.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez Mustapha

HOLO Price Prediction Today: Daily (HOT) Value Forecast – July 24

New-Decentralized-Social-Media-App-Junto-Based-on-Holochain-HOT-Distributed-Computing-Model-is-Coming
  • The short and medium-term outlook is in a range-bound market.
  • Patience while trading the consolidation for a breakout or price breakdown.

Supply zone: $0.004000, $0.006000, $0.008000
Demand zone: $0.00100, $0.000900, $0.000800

HOLO is in a range-bound market in the medium-term outlook. Yesterday session had a high of $0.001272 and a low of $0.001272 as the struggle for dominance in the market continues. Today’s market opened though on a bullish at $0.001180, price manage to rise to $0.001288 within the range.

With a low at $0.001141, the coin may continue consolidating as confirmed by the signal of the stochastic oscillator in parallel line at 50%.

HOTUSD is in consolidation and trading between $0.001400 in the upper supply area and at $0.001090 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.

HOT/USD Short-term Trend: Ranging

The cryptocurrency is in a consolidation trend in the short-term outlook. Despite a bearish opening at $0.001304, the coin dropped to $0.001141 while the rally push price up to $0.001288 within the range.

Price is above the two EMAs and the stochastic oscillator signal points up at 77% suggesting an upward momentum within the range.

$0.001350 is the upper supply area while $0.001100 is the lower demand area. A breakdown or breakout in price may occur, hence patience should be exercised before taking a position after retest.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez Mustapha

Stellar Price Prediction Today: Daily (XLM) Value Forecast – July 16

  • Meanwhile, the market is still in a range-bound move between the levels of $0.1200 and $0.1400.
  • The price of Stellar was on a downward correction as it broke the lower price range and approaches the low at $0.0 7820.

XLM/USD Medium-term Trend: Ranging

  • Resistance Levels: $0.1300, $0.1400¸ $0.1500
  • Support levels: $0.0900, $0.0800, $0.0700

Yesterday, July 15, the price of Stellar was on a downward correction as it broke the lower price range to a low at $0.0 7820. This was the previous low of February 5. As the market approaches the February low, traders should lookout for buy setups to initiate long trades in anticipation of a bullish trend.The market may hold on February 5, as the crypto’s price will respect the historical price level. Meanwhile, the market is still in a range-bound move between the levels of $0.1200 and $0.1400.

The 12-day EMA and the 26-day EMA are trending horizontally above the price of the Stellar. The crypto’s price was below the EMAs which indicate that price is likely to fall. Meanwhile, the XLM market has reached the oversold region of the daily stochastic but below the 20% range. This indicates that price is in a bearish momentum and a sell signal.

XLM/USD Short-term Trend: Bearish

On the 1-hour chart, the price of Stellar is in a bearish trend. The 12-day EMA and the 26-day EMA are trending southward. The XLM market has fallen to the $0.007800 price level. Meanwhile, the XLM price is in the oversold region of the daily stochastic but above the 20% range. This implies that price is in a bullish momentum and a buy signal.
.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez Mustapha

Verge Price Prediction Today: Daily (XVG) Value Forecast – July 12

  • The market is still in a range-bound move between the levels of $0.00800 and $0.0100.
  • The crypto’s price was below the EMAs which indicate that price is likely to fall.

XVG/USD Medium-term Trend: Ranging

  • Resistance Levels: $0.00820, $0.00840, $0.00860
  • Support levels: $0.00680, $0.00660, $0.00640

Yesterday, July 11, the price of the Verge was on a downward correction to a low at $0.006500. This was the previous low of May 9. At this low, the bulls made an upward move to reach the $0.01200 overhead resistance level. On July 11, the bears might have exhausted their bearish pressure as the bulls make an upward move to break above the EMAs.

Traders should look out for  buy setups in order to initiate long trades in anticipation of a bullish trend. Meanwhile, the market is still in a range-bound move between the levels of $0.00800 and $0.0100. The 12-day EMA and the 26-day EMA are trending horizontally above the price of the Verge. The crypto’s price was below the EMAs which indicate that price is likely to fall. Meanwhile, the price of the verge has reached the oversold region of the daily stochastic but below 20% range. This indicates that price is in a bearish momentum and a sell signal.

XVG/USD Short-term Trend: Bearish

On the 1-hour chart, the XVG price is in a bearish trend. The 12-day EMA and the 26-day EMA are sloping southward. The crypto’s price is fluctuating below the 12-day EMA and the 26-day EMA indicating that price may continue its fall.

The crypto’s price fell to its low at $0.0064 00. Meanwhile, the price of the verge has reached the overbought region of the daily stochastic but below 20% range. This indicates that price is in a bearish momentum and a sell signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez Mustapha

SKYCOIN Price Prediction Today: Daily (SKY) Value Forecast – July 12

Binance Lists Skycoin (SKY) to Cryptocurrency Exchange, Price Spikes
  • The medium-term outlook is in the uptrend while short-term outlook is in a range-bound market.
  • Responsible buying may be considered at key demand areas.

Supply zones: $2.00, $2.20, $2.40
Demand zones: $1.00, $0.80, $0.60

SKYUSD is in a bullish trend in the medium-term outlook. The formation of the tweezer bottom after bearish exhaustion at $1.74 as markets opened today returned the bulls. Price rose initially to $1.40 and to $1.45 in the supply area after the break of the resistance at the 10-EMA.

The momentum may be sustained in the medium-term with confirmation from the stochastic oscillator as its signal points up at 35% suggest upward momentum in price.

Price is above the 10-EM an indication of bullish pressure. The 50-EMA area at $1.53 remains a target for the bulls’ as the journey up north is intensified in the medium-term.

SKY/USD Short-term Trend-Ranging

The cryptocurrency is in a range-bound market in the short-term outlook. The bulls had a good run as the market opened today at $1.80. The resistance at the 10-EMA was initially broken and later that of the 50-EMA due to increased bullish momentum. Price rose to $1.45 within the range.

The stochastic oscillator signal is in a parallel line at 84% in the overbought region which reflect the ranging scenario.

SKYUSD is in consolidation and trading between $1.50 in the upper supply area and at $1.30 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez Mustapha

ZILLIQA Price Prediction Today: Daily (ZIL) Value Forecast – July 8

Zilliqa Releases New Smart Contracts On Its Platform And Opens New Office in London
  • The medium-term is in a downtrend while the short-term outlook is in a range-bound market.
  • Patience must be exercised during the consolidation.

Supply zone: $0.02500, $0.02600, $0.027000
Demand zone: $0.01600, $0.01500, $0.014000

ZILUSD remains is in a bearish trend in the medium-term. The supply area at $0.01836 was a key resistance as the bulls lost momentum. Today’s 4-hour opening candle at $0.01733 was bullish.

Price rose to $0.01827 in the supply area before exhaustion sets in.
The bear returned with a large bearish engulfing candle as price fell initially to $0.01650 and later to $0.01632 in the demand area.

Price is below the two EMAs and the stochastic oscillator points down at 35% an indication of downward momentum in the medium-term. $0.01511 in the demand area is the bears’ initial target.

ZIL/USD short-term Trend: Ranging

The cryptocurrency remains in a range-bound market in its short-term outlook. The bulls lost momentum at $0.01827 within the range shortly after today’s opening at $0.01726. The bears returned with a large engulfing candle that broke the two EMAs. ZILUSD fell to $0.01654.

Price is below the two EMAs and the signal of the stochastic oscillator points down at 11% an indication of downward momentum within the range in the short-term.

ZILUSD is in consolidation and trading between $0.01850 in the upper supply area and at $0.01550 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez Mustapha