A measure of leverage in the Bitcoin market just fell to its lowest since late 2021, a sign that volatility inducing speculators are increasingly being washed out of the market, meaning that the world’s largest cryptocurrency by market capitalization may be in for calmer waters ahead.
Technology investor Cathie Wood’s fund ARK Invest has bought $8.7 million worth of Coinbase stock while filing yet another application to list a Bitcoin-backed exchange-traded fund (ETF).
Bitcoin (BTC) has hit an all-time price high in Argentinian pesos – a fact that appears to say more about the struggling fiat than the popular cryptoasset.
The Bitcoin (BTC) price has shrugged off concerns about sudden movements in long-term dormant wallets, as well as ongoing regulatory uncertainty with Coinbase now suing the US SEC for a lack of clarity on crypto rules, and posted a strong rebound back to the north of the $28,000 level for the first time in four days.
Investors have turned their most bearish on Bitcoin’s short-term price outlook in more than one month, according to options market data presented by crypto data analytics website The Block.
Bitcoin could be in for a quick rebound back above the $30,000 level in the coming days if it follows in the footsteps of a historic trading pattern that looks to be unfolding.