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$29K Bitcoin is closer than you might expect, according to derivatives data

Bitcoin, NyheterAv Kryptodataaugusti 10, 2022

Bitcoin (BTC) price continues to battle at the $24,000 resistance and the price was rejected there on Aug. 10, but the rejection was not enough to knock the price out of the 52-day-long ascending channel. The channel has a $22,500 support and this bullish formation suggests that the BTC price will eventually hit the $29,000…

3 key Ether derivatives metrics suggest $1,600 ETH support lacks strength

Marknadsanalys, NyheterAv Kryptodataaugusti 3, 2022

Ether (ETH) price is up 60% since May 3, outperforming leading cryptocurrency Bitcoin (BTC) by 32% over that span. However, evidence suggests the current $1,600 support lacks strength as network use and smart contract deposit metrics weakened. Moreover, ETH derivatives show increasing sell pressure from margin traders. The positive price move was primarily driven by…

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