The gains keep coming for BTC and crypto for a second day as the U.S. dollar drops.
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Bitcoin price reaches $21K as crypto market cap nears $1T
Bitcoin (BTC) returned to $21,000 for the first time since September after the Oct. 26 Wall Street open as buyers solidified gains.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC bulls “eat” ask liquidity
Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it hit local highs of $21,012 on Bitstamp.
At the time of writing, the pair continued to explore territory out of reach for over six weeks.
Liquidations also kept flowing, with the past 24 hours delivering $750 million in liquidated positions on Bitcoin alone, according to data from Coinglass.
Cross-crypto liquidations totaled $1.43 billion, adding to what was already the highest tally in 2022 so far.
Are crypto trading bots legit?
While most popular crypto trading bots are offered for free, they do come with associated costs, such as trading commissions and withdrawal fees, that need to be evaluated before proceeding.
When choosing a crypto trading bot, investors need to weigh the pros and cons of “free” crypto trading bots compared to those that charge a flat monthly or annual subscription fee. Most popular crypto trading bots like Naga, Pionex, eToroX do not charge users for viewing but have trading commissions starting from as low as 0.05% for every trade executed via their platform.
This is especially pertinent for those whose daily trading volumes regularly exceed tens of thousands of dollars. The trading fees due over a month could be far more than the subscription fee charged by other competitors.
For example, cloud-based trading bots like CoinRule and CryptoHopper provide a free trial, after which users can be charged from as low as $19/month to as high as $450/month, depending on the plan and range of services selected. These trading bots make more sense for investors with high trading volumes and who want to enjoy these services from anywhere in the world.
That said, investors or traders looking to purchase or rent a crypto trading bot need to verify if their crypto exchange supports bots. For example, CoinBase does not allow trading bots to interact with its platform, providing that utility with its CoinBase Pro platform.
Binance Oracle network to bridge Web3 and blockchains via smart contracts
For starters, Binance Oracle will allow existing decentralized applications and Web3 ecosystem partners on BNB Chain to access data sources and advanced computations.
Why is the crypto market up today?
Bitcoin (BTC) volatility is finally giving BTC bulls what they want — but why now?
After drifting lower for months and spending recent weeks in a tiny trading range, BTC/USD has delivered 24-hour gains in excess of 7%.
Hitting its highest levels since mid-September, the largest cryptocurrency is rewarding those who refused to sell and punishing shorters to the tune of around $1 billion.
The change of trend has come quickly and caught many by surprise, as evidenced by that liquidation tally.
Behind the scenes, however, little has changed — macroeconomic conditions have not undergone major upheaval compared to a week ago, and internal problems for Bitcoin, such as miner strain, remain the same.
Why is the crypto market up today?
Bitcoin price is back at six-week highs and BTC is targeting $21,000 — here are three reasons why the crypto markets are surging.
Why is the crypto market up today?
Bitcoin (BTC) volatility is finally giving BTC bulls what they want — but why now?
After drifting lower for months and spending recent weeks in a tiny trading range, BTC/USD has delivered 24-hour gains in excess of 7%.
Hitting its highest levels since mid-September, the largest cryptocurrency is rewarding those who refused to sell and punishing shorters to the tune of around $1 billion.
The trend change came quickly and caught many by surprise, as evidenced by that liquidation tally.
Behind the scenes, however, little has changed — macroeconomic conditions have not undergone major upheaval compared with a week ago, and internal problems for Bitcoin, such as miner strain, remain the same.
Next Bitcoin rally to start in Q2 2023 — Mark Yusko explains why
The anticipation of the next Bitcoin halving will spark a crypto rally in 2023 regardless of the grim macroeconomic picture, according to hedge fund manager Mark Yusko.
Crypto City: Guide to San Francisco Bay Area
This “Crypto City” guide looks at the San Francisco Bay Area’s crypto culture, its most notable projects and people, its financial infrastructure, which retailers accept crypto, and where you can find blockchain education courses. You really might leave your heart in San Francisco with all the projects in the Bay Area.
Fast facts
City: San Francisco
Country: United States
Population: 887,711
Founded: 1776
Crypto City: Guide to San Francisco Bay Area
This “Crypto City” guide looks at the San Francisco Bay Area’s crypto culture, its most notable projects and people, its financial infrastructure, which retailers accept crypto, and where you can find blockchain education courses. You really might leave your heart in San Francisco with all the projects in the Bay Area.
Fast facts
City: San Francisco
Country: United States
Population: 887,711
Founded: 1776
Crypto City: Guide to San Francisco Bay Area
This “Crypto City” guide looks at the San Francisco Bay Area’s crypto culture, its most notable projects and people, its financial infrastructure, which retailers accept crypto, and where you can find blockchain education courses. You really might leave your heart in San Francisco with all the projects in the Bay Area.
Fast facts
City: San Francisco
Country: United States
Population: 887,711
Founded: 1776
BitPay to introduce USDC and ETH payments on Polygon network
Polygon-bridged cryptocurrencies like Ether, USDC, DAI and Wrapped Bitcoin are coming to BitPay later this week.
BitPay to introduce USDC and ETH payments on Polygon network
Polygon-bridged cryptocurrencies like Ether, USDC, DAI and Wrapped Bitcoin are coming to BitPay later this week.
Bitcoin miners rethink business strategies to survive long-term
A look at why some Bitcoin miners continue to thrive in the bear market while others need to rethink their strategies in order to continue operations.
Ethereum is ahead of Bitcoin this rally — But ETH price still risks 20% crash against BTC
Ether has entered a bearish range that preceded a 35% price crash in the April–May 2022 session.
Ethereum is ahead of Bitcoin this rally — But ETH price still risks 20% crash against BTC
Ethereum’s native token, Ether (ETH), recorded better gains than Bitcoin (BTC) over the past 24 hours despite the latter finally rising above the key $20,000 level.
Ether beats Bitcoin in risk-on rally
On the daily chart, Ether jumped approximately 14% to reach its weekly high of $1,554 (data from Binance) on Oct. 26. Bitcoin underwent a similar rally, but its week-to-date profits are just 6% by comparison.
The ETH/BTC pair gained around 8%, climbing as high as 0.075 BTC on Oct. 26.
ETH/BTC daily price chart. Source: TradingViewThe boom across the top crypto assets has been synchronous with the United States stock market’s winning streak since Oct. 24. It also came on the backdrop of a weaker U.S. dollar index, which has been typically trading inversely to the crypto market since March 2020.
Bear fractal alarm
ETH/BTC’s latest price rally has taken it to a range that preceded a 35% correction in the April–May 2022 session (marked as “R1” in the chart below) and was instrumental in limiting its upside prospects in August–September 2022 (marked as “R3” in the chart below).
