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Market Analysis The price of Bitcoin (BTC) abruptly fell by nearly 6% in less than four hours as the new weekly candle opened on March 15. Three factors contributed to the weakening momentum of Bitcoin, namely a new weekly open, high funding rates, and stablecoin inflows primarily driving the market upward. New weekly candle and a reset pullback When a new weekly candle opens, Bitcoin typically sees large volatility because the trend on Monday could dictate how Bitcoin performs throughout the rest of the week. BTC/USD 1-day chart with key levels. Source: TradingView/Rekt Capital Over the la...

Markets News Bitcoin (BTC) begins a new week riding high near record price levels — can it sustain the gains much longer? After a roaring weekend, the largest cryptocurrency is seeing mixed results prior to Monday’s Wall Street open. Cointelegraph takes a look at five factors that could serve to influence where BTC/USD heads in the coming days. China growth counters lagging stocks It’s a mixed picture for macro markets as the week gets underway, with no clear narrative dictating what the knock-on effect could be, if any, for on-risk assets. While bond yields are troubling U.S. futur...

Market Analysis The Bitcoin price (BTC) has surpassed the $21,000–$22,000 resistance range to rise above a new high of $23,000 on Dec. 17. Meanwhile, on-chain analyst Willy Woo now says $100,000 is a “ridiculously low” target. BTC/USD weekly chart (Bitstamp). Source: Tradingview The $21,000 level was particularly important for Bitcoin to continue its rally in the near term. Exchange heatmaps showed stacked sell orders at around $21,000 to $21,500, which meant BTC price had to break through to see a broader uptrend. The Bitcoin Top Cap Model puts $100,000 as a conservative tar...

Market Analysis Bitcoin's (BTC) sharp correction to $17,650 came as no surprise to investors and many expected the digital asset to fall as low as $16,000. Thus, the quick recovery back to $18,600 is intriguing and it bolsters the popular belief that retail and institutional investors are keen to purchase every BTC dip. Although the possibility of another drop remains, three factors point toward a Bitcoin bottom at $17,650. The factors are, whale deposits hitting a peak, BTC posting a quick recovery, and trading volume picking up again. Whale deposits hit a peak According to CryptoQuant CE...