The 4-hour RSI is starting to form bullish divergence, the BTC price made a fresh low, but momentum didn’t follow. It won’t flip the trend on its own, but it often sets the stage for at least a short-term bounce. At the same time, Bitcoin is testing the long-term diagonal support line that stretches back to early 2023. This trend line now lines up with the horizontal support zone, creating a very strong confluence area. In weakening ones, both metrics fall together, which is exactly what’s happening now. After relentless downward pressure on prices since BTC’s early October record, crypto investors remain deeply risk-averse.
Market depth is a metric, which is showing the real liquidity of the markets. Due to rampant wash-trading and fake activity – volume currently isn’t the most reliable indicator in the crypto space. Bitcoin price flashed a “death cross” on Sunday, a bearish chart pattern where short-term averages slip below long-term trends. Still, analysts like Benjamin Cowen note that past death crosses often appeared near market bottoms, hinting a rebound may not be bttc3s coin far off. Glassnode data shows that bitcoin’s “death cross,” a technical analysis term that may indicate a bearish signal, is imminent, but with a catch.
Trump Family-Linked American Bitcoin Doubles Revenue in Q3 Amid Aggressive Mining Expansion
Saylor said the goal is to reach $1 trillion in BTC and compound it 20–30% annually, leveraging Bitcoin’s long-term appreciation. At a scale of that magnitude, he believes Strategy — and similar future treasury firms — could use their holdings to issue bitcoin-backed credit with yields far better than those in the fiat system. He said Strategy has built a “strong base of support” and expressed confidence in the firm’s positioning.
- At a scale of that magnitude, he believes Strategy — and similar future treasury firms — could use their holdings to issue bitcoin-backed credit with yields far better than those in the fiat system.
- The live Bitcoin price today is $86,848.94 USD with a 24-hour trading volume of $96,448,650,895 USD.
- The company secured an order for 50,000+ mining machines from an unnamed U.S. client and initiated a pilot gas-to-computing project in Canada.
Bitcoin Price Freefalls Down to $91,0000 and New Lows
Many crypto enthusiasts and economists believe that high-scale adoption of the top currency will lead us to a new modern financial world where transaction amounts will be denominated in smaller units. Mining Bitcoins can be very profitable for miners, depending on the current hash rate and the price of Bitcoin. As of mid-September 2021, the Bitcoin mining reward is capped to 6.25 BTC after the 2020 halving, which is roughly $299,200 in Bitcoin price today.
Bitcoin Scrypt Price Chart US Dollar (BTCS/USD)
The live Bitcoin price today is $86,848.94 USD with a 24-hour trading volume of $96,448,650,895 USD. The current CoinMarketCap ranking is #1, with a live market cap of $1,732,688,556,256 USD. Just two months later, on January 3, 2009, Nakamoto mined the first block on the Bitcoin network, known as the genesis block, thus launching the world’s first cryptocurrency.
The latest purchase suggests Michael Saylor is doubling down on the firm’s bitcoin-as-treasury model despite the recent market decline. At Monday’s ~$199 share price, Strategy’s enterprise value now sits only slightly above the value of its bitcoin reserves. Bitcoin is attempting to stabilize after a sharp breakdown that pushed price into one of its most important support zones of the year. Alongside the fiscal package, Japan’s Financial Services Agency is preparing to classify Bitcoin and other digital assets as financial products, lowering the tax rate on gains from 55% to 20%. In that scenario, the U.S. could become the observer, and global markets watch how much spillover a shift in Japan’s policy mix can create. If Japan’s new spending plan strengthens the yen or makes it more volatile, the global carry trade could begin to unwind, tightening financial conditions.
BTCS ROI & Volatility
This drop resulted in a Fair Value Gap (FVG) of approximately $4,135–$4,188, representing an inefficiency in the XAU/USD market that needs to be addressed. The next major trend shift hinges on whether Bitcoin holds the channel support. A confirmed breakout above $100,000–$102,000 would signal a bullish trend shift, while a breakdown risk accelerates the downtrend. The RSI (Relative Strength Index) at 41 indicates bearish momentum, but with the potential for bullish divergence forming as the price nears the channel bottom. The Awesome Oscillator (AO) remains negative but is moderating, indicating weakening downside strength.
- Without liquidity there is no trading, illiquid markets tend to collapse in the long term.
- MicroStrategy has by far the largest Bitcoin portfolio held by any publicly-traded company.
- The digital currency fell as much as 3.9% to $97,956, intensifying a slump that’s wiped out more than $450 billion in value since early October.
- Bitcoin, Gold, and Silver prices have reached major price levels where the market could soon flip direction, because early technical indicators suggest a possible reversal.
Funbi creates clear, engaging content to educate users and support the growing Web3 community. The gold price is now trading at $4,081, with bullish volume profiles (green horizontal bars) overhanging above it, indicating XAU is in the hands of the bulls. This adds credence to the thesis that the gold price could extend its rally to fill the imbalance due to the FVG.
Bitcoin Silver (BTCS) has faced significant controversy due to its lack of transparency and the absence of a clear development team, raising concerns about potential rug pulls and security incidents. Additionally, the coin has experienced extreme volatility, which poses substantial risks for investors. Legal issues surrounding the legitimacy of its claims and the potential for hacks have further complicated its reputation in the cryptocurrency space.
Despite the reputation of the death cross, this would be the fourth occurrence of the death cross since the cycle started back in 2023 and each previous instance has aligned with a major local bottoms. In the current setup, bitcoin has fallen to $94,000 and in all four prior instances the market put in its low just before the death cross formed, raising the question of whether the same pattern may be unfolding again. The death cross, the downward structure, the falling market cap, and the drop in address activity all lean bearish. But deep oversold RSI readings, bullish divergence on lower timeframes, and the long-term support confluence all lean bullish. As of this writing, the prices of BTC, XAU, and XAG were testing critical support levels, amid elevated fear levels in the market and concerns over the pioneer cryptocurrency’s death cross.
Each time it appeared, it lined up surprisingly well with local market bottoms. Historically, it has worked both ways, and everyone is trying to figure out which version the market is leaning towards. The current death cross is the classic one, Bitcoin’s short-term moving average sliding under the long-term one. Charts, on-chain data, and recent momentum shifts paint a more nuanced picture.
Charlie went on to work for Coinbase where he became Director of Engineering before leaving the company in 2017 to focus on supporting the development of Litecoin full time. CoinCodex tracks 44,000+ cryptocurrencies on 400+ exchanges, offering live prices, price predictions, and financial tools for crypto, stocks, and forex traders. BTCs’s current circulating supply is 21.00M BTCS out of max supply of 21.00M BTCS. In terms of market cap, BTCs is currently ranked #14 in the Bitcoin (BRC20) Tokens sector.
On the flip side, countries like China have moved to heavily clamp down on Bitcoin mining and trading activities. In May 2021, the Chinese government declared that all crypto-related transactions are illegal. This was followed by a heavy crackdown on Bitcoin mining operations, forcing many crypto-related businesses to flee to friendlier regions. MicroStrategy has by far the largest Bitcoin portfolio held by any publicly-traded company. The business analytics platform has adopted Bitcoin as its primary reserve asset, aggressively buying the cryptocurrency through 2021 and 2022.