Category: Cryptocurrency News

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Better luck next time? Luxor’s OTC Bitcoin mining derivatives could offer miners “a much needed tool to hedge their mining operations.”

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Historical data of the Bitcoin volatility index hints that the price of the crypto may observe a big move in the near future. Bitcoin Volatility Index Has Recently Been Below A Value Of 25 As pointed out by an economist on Twitter, the volatility index has declined into a zone that has historically been followed by an explosive move in BTC. The “volatility index” in question is the BitMEX .BVOL index, and according to the exchange, the metric’s value “is the rolling 30 day annualized volatility of the daily 11:30 UTC to 12:00 UTC Time Weighted Average Price (TWAP) of Bitcoin / USD.” Here, the Time Weighted Average Price is calculated using measurements made at 1 minute intervals for a period of half-an-hour. What this index tells us is how much has the recent BTC price deviated from the average, or more simply, how volatile it has been recently. Related Reading: Bitcoin Whale Ratio Surges Up As Leverage Remains High High values of the metric suggest the crypto has shown some sharp moves recently, while low ones imply a stale market. Now, below is a chart that shows how the Bitcoin volatility index’s value has changed during the last few years: The value of the metric seems to have been quite low in recent days | Source: Alex Krüger on Twitter As you can see in the graph, the analyst has marked relevant points of trend between the Bitcoin volatility index and the price of the crypto. It looks like whenever the indicator has dipped below a value of 25, and then subsequently bottomed below the level, the BTC price has seen some significant moves that have made the metric’s value shoot right up. Related Reading: Bitcoin (BTC) Fails To Recover, VeChain (VET) Profitability Is Unsteady: Investors Flocks To The Hideaways (HDWY) There have been three instances of this trend during the last few years, two of which involved the price making a bullish move, while the third one a crash. From the chart, it’s apparent that the Bitcoin volatility index has once again dropped down into this historical zone as the current BVOL value stands at around 24.59. If the same trend as during the previous instances follows now as well, then the crypto might be heading towards another big move in the near future. BTC Price At the time of writing, Bitcoin’s price floats around $19.4k, up 1% in the last seven days. Over the past month, the crypto has lost 9% in value. The below chart shows the trend in the price of the coin over the last five days. Looks like the value of the crypto has mostly been moving sideways during the last few days | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com

SHIB price struggles on high timeframes despite showing bullish sentiment to trend higher.  SHIB trades below support as the price looks bearish with the current market state as the price closed the weekly candle below the previous.  The price of SHIB eyes key support as price trades below 8 and 20-day EMA.  The price of Shiba Inu (SHIB) saw some bullish formation as the price broke out of a descending triangle, but the price has struggled to trend higher against tether (USDT). The previous week saw the crypto market cap looking good as prices of Bitcoin (BTC) and other crypto assets, including Shiba Inu, showed a glimpse of a rally. But this hope was cut short as the weekly candle didn’t look promising as the previous. (Data from Binance) Related Reading: Solana Shines In Trending Searches In Last 7 Days – But SOL Price A Different Story Crypto Market Update The crypto market is not looking good like the previous week, as many altcoins and major crypto assets made good strides bouncing off from support. Some altcoins continued with their double-digit gains as many traders glamoured for more of such a week. The new week is reversed, as most crypto assets have shown retracement within the first few days. Shiba Inu (SHIB) Price Analysis On The Weekly Chart. Despite showing some great price movement recently, the price of SHIB on the weekly chart failed to break above the key resistance of $0.0000117 as the price was rejected and continued to fall as the current price of BTC influences SHIB prices.  The price of SHIB retraced to a region of $0.0000107 as the price could be headed to the next support for SHIB. The price of SHIB needed to hold above the support at $0.00001-$0.00000800. With the current bearish structure maintained by the current price, we could see the price retesting the support at $0.00001-$0.00000800. Weekly resistance for the price of SHIB – $0.0000110. Weekly support for the price of SHIB – $0.00001-$0.00000850. Price Analysis Of SHIB On The Daily (1D) Chart In the daily timeframe, the price of SHIB continues to trade below key resistance as the price attempts hold the sell-off of prices to a region of $0.00001.   The price of SHIB showed strength, rallying from a low of $0.00000750, attempting to break above a descending triangle but facing rejection as the price was pushed below the 8 and 20-day Exponential Moving Average (EMA). The price of $0.00001113 corresponds to the prices at 8 and 20 EMA for SHIB on the daily timeframe. If the price of SHIB breaks below $0.00001, we could see the price retesting $0.00000750 as the next support acting as a key demand zone for prices. Daily resistance for the SHIB price – $0.000012. Daily support for the SHIB price – $0.00000750. Related Reading: Quant Price Watch: Crypto Looking At 20% Rally This Week With This Pattern Featured Image From Outlook, Charts From Tradingview

Members of the committee passed the crypto framework policy in a vote of 28 in favor and one against, with a final vote expected with the full Parliament soon.

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So just wanted to have some discussion over how much you tell your wife's, partners or parents regarding your crypto. No one knows I have any crypto or that I use this sub. My wife thinks I earn a few hundred pounds less a month and that between daily expenses and monthly bills, I don't…
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While the crypto economy has shed significant value, losing more than $2 trillion since the highs recorded at the end of 2021, a great deal of value was erased from smart contract platform tokens and decentralized finance (defi) protocols. One sector of the defi ecosystem that’s recorded heavy losses this year is the blockchain oracles […]

The price paid for “whale coins” is revealed as a potential new bear market bottom zone for BTC.