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BTC price liquidity is on the move as analysis says the Bitcoin "gameboard is changing" — another squeeze may result. Bitcoin (BTC) has new short-term BTC price targets as consolidation mixes with bouts of volatility. After a classic “short squeeze” took the largest cryptocurrency to near $36,000, Bitcoin market participants are highlighting key levels to look for from Nov. 8 onward. Bitcoin buy liquidity inches down to $34,000 Bitcoin is facing hurdles overcoming resistance at the $36,000 mark, and several attempts to clear it have quickly faded data from Cointelegraph Markets Pro and TradingView shows. Now, sellers are becoming active on intraday timeframes, and data from exchange order books shows the buy side getting cautious. In an X post on the day, on-chain monitoring resource Material Indicators highlighted support liquidity heading lower — from $34,500 to $34,000. “The Bitcoin Gameboard is Changing,” it wrote in part of accompanying commentary. A snapshot of the B...

Bitcoin’s Calm Volatility Stirs Breakout Anticipation This period of calm may soon give way to a dynamic shift, potentially ignited by significant catalysts on the horizon. Notably, applications for spot Bitcoin exchange-traded funds (ETFs) by major players like BlackRock Inc. have caught the market’s attention. If approved, these ETFs could significantly boost demand for Bitcoin . advertisement The impending verdict on ETF applications, such as the ARK Investment Management LLC filing, holds the potential to disrupt the current placid market conditions. Analysts from K33 Research suggest the SEC’s response to this application by August 13 could spur market volatility, Bloomberg stated. In an earnings call, Galaxy Digital CEO Mike Novogratz cited insider sources suggesting that approval for BlackRock and Invesco’s spot Bitcoin ETFs is a matter of “when, not if.” The anticipation for a spot Bitcoin ETF approval has surged since...

Also Read: Bitcoin Price Eyes Big Move As Lightning Network Hits Binance – $38k BTC On The Cards? advertisement Meanwhile, the federal regulatory agency opened a window of opportunity for investors, traders and general public to submit their views on the Bitcoin ETF filings made via the Cboe exchange. The SEC noted that the comments would be posted on the regulator’s website. US SEC Invites Public Comment ON Bitcoin ETF Filings The regulator invited comments on filings made by Wise Origin Bitcoin Trust, WisdomTree Bitcoin Trust, VanEck Bitcoin Trust and Invesco Galaxy Bitcoin ETF. The SEC said in its website, “We encourage the public to submit comments on the Cboe BZX Exchange, Inc. filings during the comment period. We strongly encourage you to send your comments electronically.” Recommended Articles Crypto Presale Projects For ...

Bullish crypto traders are struggling to clear the overhead barrier in Bitcoin and select altcoins, indicating that bears have not given up yet. Bitcoin continues to trade near $31,000, making it an important resistance level to watch out for in the short term. Some analysts believe the current consolidation could result in an upside breakout in Bitcoin. The institutional investors also seem to be positive about the prospects of a further rally in Bitcoin (BTC). CoinShares head of research James Butterfill said in a recent report that 98% of all the digital asset inflows of $334 million went into Bitcoin-related products. Daily cryptocurrency market performance. Source: Coin360 Although the short-term price action on Bitcoin and select altcoins looks positive, market participants should stay cautious due to the uncertainty regarding macroeconomic issues. The crypto markets are likely to be influenced by the United States inflation figures and the Federal Reserve’s monetary action over...

Convicted buyers have bought up cheap Bitcoin as prices fell over the course of last year. The number of Bitcoin (BTC) wallet addresses holding one whole BTC or more has surpassed the one million mark.  The one million wholecoiner milestone was reach ed on May 13, according to data from Glassnode. Number of Bitcoin wallets holding more than 1 Bitcoin since inception. Source: Glassnode . As the price of Bitcoin fell more than 65% over the course of last year, the number of wallet addresses holding one Bitcoin or more spiked, with the most notable surges occurring during an acute market crash in June and from November 11, the date that FTX collapsed and subsequently filed for bankruptcy. In total, a whopping 190,000 or so wholecoiners were added from early-February, 2022 as the price of Bitcoin fell from its November 2021 highs.  Glassnode cofounder @Negentropic informed his 54,000 Twitter followers that the best time to buy Bitcoin is when there’s “blood in the streets.” His commen...

Today's CPI report highlighted a slight decline in inflation, a development which could put a strong price floor beneath Bitcoin and select altcoins. The March consumer price index climbed marginally by 0.1%, below economists' expectation of a 0.2% increase and February’s advance of 0.4%. Although inflation is showing signs of slowing, the year-on-year CPI increased by 5%, well above the Federal Reserve’s 2% target.  The FedWatch Tool shows a 67% probability of a 25 basis point rate hike in the Fed’s May meeting but by the end of the year, the majority of the market participants have come to expect rates to be lower than the current level. Daily cryptocurrency market performance. Source: Coin360 An expansive monetary policy is usually positive for risky assets. In addition, crypto traders will focus on Bitcoin’s (BTC) halving which is set to occur next year. That is also likely to be a positive for cryptocurrency prices. While the near-term picture is uncertain, the long-term...

Bitcoin and select altcoins are close to breaking out of their overhead resistance levels, indicating that bulls remain in control of the crypto market. Bitcoin (BTC) is up about 71% in Q1 2023, which is the first positive quarter after four consecutive quarters of negative returns in 2023, according to data from Coinglass. This shows that the sentiment has turned positive and the bulls are trying to put a bottom in Bitcoin. When the undercurrent is bullish, negative news results in shallow corrections. That is what happened after the United States Commodity Futures Trading Commission slapped a lawsuit against Binance and its CEO Changpeng Zhao for trading violations. This news pulled the markets marginally lower but did not start a strong down move. Daily cryptocurrency market performance. Source: Coin360 Another thing that happens in a bullish environment is that cryptocurrencies move up without any specific catalyst. That happened on March 29 when Bitcoin and several major altcoin...