How smart crypto traders caught a 48% price pump

Disparities in information access and data analytics tech are what give institutional players an edge over regular retail investors in the digital asset space. The core idea behind Markets Pro, Cointelegraph’s crypto intelligence platform powered by data analytics firm The TIE, is to equalize the information asymmetries that permeate cryptocurrency markets. Markets Pro bridges the gap with two world-class functionalities: the quant-style VORTECS™ score, and breaking NewsQuake™ alerts. The former is an algorithmic comparison of several key market metrics around each coin to years of historical data, which assesses whether…

Traders search for bearish signals after Bitcoin futures enter backwardation

An unusual phenomenon called ‘backwardation’ is taking place in Bitcoin (BTC) futures trading, mainly the June contract, which expires on June 25.  The fixed-month contracts usually trade at a slight premium, indicating that sellers request more money to withhold settlement longer. Futures should also trade at a 5% to 15% annualized premium on healthy markets, in line with the stablecoin lending rate. This situation is known as contango and is not exclusive to crypto markets. Whenever this indicator fades or turns negative, this is an alarming red flag. This situation…

What a 41 minute head start means to crypto traders

When exchange listing news hits the crypto market, there’s often a spike in trading volume and a rapid (if often short-lived) appreciation in the price of the crypto asset. The degree of movement depends on the exchange making the announcement, the liquidity of the token and many other factors — but as has been identified on multiple occasions, a Coinbase or Binance listing often moves markets. Of course, the market participants who react fastest to this kind of news usually secure the best opportunity for delta. So where does the…

Ethereum price bounce to $2.6K fails to excite neutral-to-bearish pro traders

While speaking at the Virtual Fintech Forum in Hong Kong on May 27, Ethereum co-founder Vitalik Buterin commented on obstacles related to the Ethereum 2.0 rollout. Buterin said that there had been several internal team conflicts in the past five years and as a result, he confirmed that Ethereum 2.0 launch is unlikely to occur before late 2022. In a May 22 report from Goldman Sachs, analysts said that Ether has a “high chance of overtaking Bitcoin as a dominant store of value.” Furthermore, the report noted the growth of…

Traders look for Bitcoin price daily close at $41K to confirm bullish reversal

Bitcoin started the week with a strong breakout to $40,900, but today bulls are trying to hold Bitcoin price above the $40,000 level.  As the price broke from the $31,000 to $39,000 range on June 14, traders speculated that setting a daily higher high and a close above $41,000 would set BTC up for a move to $47,000, but a lack of sustained buy volume and the much-discussed possibility of a death cross between the 50- and 200-day moving average are factors that could be keeping traders cautious. BTC/USDT daily…

Bitcoin derivatives data shows pro traders ignored today’s $41K pump

Sometimes all Bitcoin (BTC) needs to pump 10% is a positive remark from someone like Elon Musk. The Tesla CEO has been pointed to as the culprit for the recent downturn after the company’s May 12 announcement explaining that it would no longer accept Bitcoin payments due to environmental concerns. Musk followed up by saying that he was looking into other cryptocurrencies that required 99% less energy consumption.  However, on June 13, the situation reversed as Musk reassured the public that Tesla did not sell any additional Bitcoin. The post…

Bitcoin traders eye ‘crucial’ $38K level as BTC price action consolidates higher

Bitcoin (BTC) traded in a higher range on Friday, with analysts keen to see which critical levels would fall next. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin escapes fresh losses… for now Data from Cointelegraph Markets Pro and TradingView showed BTC/USD retaining $35,000 support overnight on Thursday while so far staying clear of $40,000. A push higher had taken the pair to $39,000 before the consolidation phase began, but overall, Bitcoin was yet to make a decisive move up or down on longer timeframes. For popular trader Rekt Capital, $38,000…

Bullish reversal? Traders debate whether $37K BTC price is a trend reversal

The cryptocurrency market flashed bullish on June 9 as Bitcoin (BTC) price reversed course and rallied 20% to $37,500.  For the past few weeks, analysts had been debating whether or not BTC was entering a long-term bear trend and the argument has been further complicated by a mixture of positive and negative headlines including the adoption of Bitcoin (BTC) as legal tender in El Salvador and authorities in China ordering Chinese search engines to block results for searches related to the top crypto exchanges in the country.  Data from Cointelegraph Markets Pro and…

Bitcoin will dip to $25K if this trader’s 20% crypto crash forecast comes true

Bitcoin (BTC) is heading for “absolute carnage” which will result in a trip to around $25,000, a popular trader has warned as bullish signals disappear for BTC/USD. In characteristically direct tweets this week, Twitter account Cobra Crypto warned that 20% is about to be shaved off the entire cryptocurrency market cap.  Crypto to see “absolute carnage” within days? Bitcoin has suffered from downside over recent days despite “feelgood” news stories from the Bitcoin 2021 conference, including adoption in Latin America. Now, after BTC/USD lost 9% overnight, attention is turning not…

Traders, analysts offer mixed reactions to El Salvador’s BTC announcement

While it was billed as the “one of the biggest announcements in Bitcoin’s history,” the market seems to be puzzling over the landmark reveal that El Salvador’s sitting President will be submitting legislation to recognize Bitcoin as legal tender.  In a presentation at Bitcoin 2021 from Jack Mallers, CEO of Zap — developers of a previously low-profile Lightning Network wallet app named Strike — Mallers showed a short video from Salvadorian president Nayib Bukele where the leader of the 104th largest global economy announced the historic legislation. Strike currently has…