Bitcoin price flexes its muscles as on-chain data, trading volumes and favorable macroeconomic data lure traders back into the crypto market.
Trading volume increases coincide with profits returning
Reversing a trend that started in May 2022, the on-chain realized profit and loss ratio for BTC is up over the 1.0 level, hitting 1.56 profits over losses on Jan. 16, 2023. Bitcoin’s 30-day correlation to the Nasdaq reached 0.29 on Jan. 17, 2023 the highest BTC divergence from equities since December 2021.
Now that institutional investors and growth companies are holding less Bitcoin, correlation to markets may lessen in the future.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate Following Recent Highs – Market Updates Bitcoin NewsBitcoin consolidated on Jan. 16, as U.S. markets closed in celebration of the Martin Luther King Jr. Day holiday celebration.
Read more »
Bitcoin (BTC) Mining Difficulty Climbs to Record High Amid Price RallyAs part of its design, Bitcoin network adjusts difficulty with every 2,016th block (about two weeks)
Read more »
BTC price cancels FTX losses — 5 things to know in Bitcoin this weekBitcoin seals its highest weekly close since FTX, but BTC price action is due consolidation, say analysts.
Read more »
Bitcoin could see $25K by March 2023 as U.S. dollar prints 'death cross' — analysisBitcoin to $25K next? A weakening dollar could give BTC price a boost in the coming months.
Read more »
Expectations for Bitcoin's Price Over Next Six Months Turn PositiveBitcoin's 180-day call-put skew has crossed above zero for the first time since the start of 2021, indicating that bullish call options expiring in six months have become pricier than bearish put options, according to a chart sourced from digital assets data provider Amberdata. Lawrence Lewitinn presents 'The Chart of the Day.'
Read more »
Peter Schiff Predicts Bitcoin (BTC) Price Will Plunge Back Below $18KTop cryptocurrency has managed to reclaim $21,000 level, but Schiff believes that this rally will be short-lived
Read more »