Bitcoin falls to $36K, traders say bulls need a ‘Hail Mary’ to avoid a bear market

Bitcoin (BTC) price continues to sell-off and the knock-on effect is an even sharper correction in altcoins and DeFi tokens. At the time of writing, BTC price has sank to its lowest level in 6 months and most analysts are not optimistic about an immediate turn around.  Data from Cointelegraph Markets Pro and TradingView shows that a wave of selling that began late in the day on Jan. 20 continued into midday on Friday when BTC hit a low of $36,600. BTC/USDT 1-day chart. Source: TradingView Here’s a check-in with what analysts…

Here’s how traders capitalize on crypto market crashes and liquidations

The first week of the new year saw a vicious pullback across all cryptocurrencies in the market. Ether (ETH) price dropped from its November peak at $4,800 peak to under $3,000 on Jan. 8 and Terra’s LUNA governance token also dropped from $85 on Dec. 31 to $67 on Jan. 8, 2022.  These unexpected dramatic moves often cause liquidation cascades in the lending market, but they also create unique buying opportunities in the collateral liquidation markets. Kujira’s Orca protocol is a platform built on the Terra network and it allows…

Bitcoin price can’t find its footing, but BTC fundamentals inspire confidence in traders

Bitcoin’s (BTC) sudden crash on Jan. 10 caused the price to trade below $40,000 for the first time in 110 days and this was a wake-up call to leveraged traders. $1.9 billion worth of long (buy) futures contracts were liquidated that week, causing the morale among traders to plunge. The crypto “Fear & Greed” index, which ranges from 0 “extreme fear” to 100 “greed” reached 10 on Jan. 10, the lowest level it has been since the Mar. 2020 crash. The indicator measures traders’ sentiment using historical volatility, market momentum,…

TokenBot helps crypto traders build social communities and monetize market knowledge

There are many advantages to automating one’s trading tactics instead of pointing and clicking with a mouse. For starters, bots can execute trading decisions free of emotion, are lighting fast, and have far fewer margins of error. According to CNBC estimates, crypto trading bots account for 70% to 80% of the overall trading volume. TokenBot is an automated copy-trading platform designed for social trading groups and communities within messaging apps such as Discord, Telegram, and Slack. Once added to a social media group, TokenBot monitors the admin’s account on an…

Ethereum options data shows pro traders expect strong resistance at $3,600

Ether (ETH) price has bounced 13% from its Jan. 9 low at $2,950, but it seems premature to call the move a cycle bottom. Instead, the larger bearish movement has prevailed and although it looks primarily correlated to Bitcoin (BTC) price, regulatory concerns and a tighter United States Federal Reserve policy have also been blamed for the movement. BTC and Ether have been under pressure since regulators focused their attention on stablecoins. On Nov. 1, the U.S. Treasury Department urged Congress to ensure that stablecoin issuers are regulated similarly to…

Bitcoin sells off after $44K resistance tap, eliciting scrutiny from options traders

Bitcoin (BTC) fell more than 2% from local highs during Jan. 12 in the latest move to keep market participants guessing about what’s to come for the largest digital asset.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView “One step at a time” Data from Cointelegraph Markets Pro and TradingView tracked the pullback for BTC/USD after the pair hit its highest levels in more than a week. A trip to $44,450 on Bitstamp after the Wall Street open was followed by an hourly candle which at one point sparked losses of $1,500.…

Topped or bottomed? Traders at odds over whether Bitcoin will keep rising

Bitcoin (BTC) touched $44,000 a second time on Jan. 12 amid increasing divergence of opinion about whether the price bottom is “in.”  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Data from Cointelegraph Markets Pro and TradingView showed the $44,000 mark acting as local resistance Thursday, following forecasts that $46,000 could soon return. Bitcoin stayed broadly higher overnight following the previous day’s U.S. inflation data, but for some, now was not the time to become overly confident. “BTC starting to feel a little toppy (local), although asks are diffused through some key…

Data shows Bitcoin traders’ neutral view ahead of Friday’s $750M BTC options expiry

Bitcoin (BTC) has bounced 11% from the $39,650 low made on Jan.10 and currently the price is battling with the $44,000 level. There are multiple explanations for the recent weakness, but none of them seem sufficient enough to justify the 42% correction that took place since the Nov. 10 all-time high at $69,000. At the time (Nov. 12), negative remarks from the U.S. Securities and Exchange Commission (SEC) were issued at the rejection of VanEck’s physical Bitcoin exchange-traded fund (ETF). The regulator cited the inability to avoid market manipulation due…

Traders say Bitcoin run to $44K may be a relief bounce, citing a repeat of December’s ‘nuke’

Bitcoin (BTC) may have rallied to $44,000 on the back of United States inflation data, but according to traders, there is little hope of a sustained comeback. In a Twitter discussion on Jan. 12, data analyst Material Scientist warned that significant downside may still return to Bitcoin price action. “Now we wait” Despite showing stength since bouncing at $39,600, BTC/USD has yet to convince most analysts that its overall downtrend has ended. After U.S. inflation data came in at 7% year-on-year for December, those voices of doubt continued, even as…

Ethereum futures and options data reflects traders’ mixed emotions on $3.2K ETH price

Ether (ETH) has been an emotional rollercoaster over the past three months primarily because its price rallied twice. First, it peaked at $4,870 on Nov. 10 and at $4,780 on Dec. 1. However, the double top was quickly followed by a harsh rejection, which led to $490 million in long futures contract liquidations in 48 hours. Once again, hope was instilled on Dec. 8 after Ether commenced to rally 28.5% in four days to retest the $4,400 support. Soon after, the downtrend continued, leading to the $2,900 bottom on Jan.…