An impending death cross, a bearish but lagging indicator, suggests bitcoin could be nearing a major bottom.
Binance’s futures exchange is raising leverage to 125x with the launch of BTC/USDT contracts today.
Bitcoin is looking increasingly weak, having closed below $8,000 on rising trading volumes Wednesday.
Bitcoin is facing strongest selling pressure since February and has potential to drop below recent lows near $7,750.
XRP has been on the offensive, having ended a 3.5-month-long downtrend with a move to three-week highs.
A long-term bitcoin chart indicator has turned bullish for the first time in three years, though it's had little impact on prices.
Bitcoin has crossed the 20-day moving average hurdle, but remains in bearish territory on the daily and weekly charts.
Market movements show us that bitcoin is not generally accepted as a safe-haven investment.
Bitcoin's quick pullback from a 2.5-week high of $8,830 this morning has invalidated a bullish breakout on the 4-hour chart.
Bitcoin may rise to $9,000 in the short-term, with traders seemingly unfazed by the rejection of Bitwise's bitcoin ETF proposal.