Altcoins Bitcoin Crypto News

“Buy The Dip” Sentiment Fails To Save Crypto Market, New Data Reveals Why

Since crypto prices have fallen to their lowest point, now is the ideal time to “Buy-the-Dip.” But during these brief price declines, traders appear to be shorting cryptocurrency more than they are buying it. “Buy-the-Dip” Sentiments Does Not Stop Crypto Shorting More short sales or shorting occur in altcoins than in bitcoin. In the past day, short holdings in Bitcoin (BTC) have averaged roughly 51% across exchanges, while short positions in altcoins have averaged about 55%. BTC/USD hovers around $20k. Source: TradingView Santiment, an on-chain analytics tool, states that data on the average funding rate for Bitcoin and altcoins relative to the price of bitcoin shows that traders continue to short altcoins at every minor decline. The long/short ratio for Bitcoin, in contrast, is unchanged despite price swings. “As prices gradually fell on Sunday, traders have shown that though they may proclaim to be buyingthedip, they are shorting more on these mini drops. Interestingly, this only applies to altcoins right now, indicating that Bitcoin is being flocked to as the safe haven.” According to Coinglass data, traders kept shorting crypto on Monday. In the last 24 hours, a $25 million liquidation of Ethereum (ETH) witnessed 56 percent shorts. Polkadot (DOT), Solana (SOL), XRP, Cardano (ADA), and BNB, meanwhile, saw 55 percent, 59 percent, 63 percent, 67 percent, and 53 percent shorts. Related reading | Bitcoin Perpetual Open Interest Suggests Short Squeeze Led To Crash Bitcoin and Altcoin Short Selling. Source: Santiment It’s interesting to note that in the past 24 hours, short positions in Tether (USDT) have increased by 85% across exchanges. Some short sellers think that Chinese real estate brokers back the majority of Tether’s assets in commercial paper. Since the previous month, USDT has experienced significant redemptions, causing its market cap to drop close to $66 billion. Amidst a dim market outlook, hedge funds are also progressively shorting the U.S. dollar-pegged stablecoin Tether (USDT). Liquidation OF Altcoins Rises Amid Short Selling Liquidations are also increasing as traders continue to short altcoins. Altcoins that were actively traded in the morning are currently in the negative. Due to a recent increase in liquidation, the price of Ethereum (ETH) has decreased by around 4% during the past 24 hours. Other altcoins have also given up gains and are currently declining. Related reading | Doom To Fail: Tether Shorts Pile In As Hedge Funds Seek To Profit From Crypto Winter

Altcoins

Here’s What’s Next for XRP, Binance Coin, Cosmos and One Low-Cap Altcoin, According to Popular Analyst

Popular crypto strategist Michaël van de Poppe is outlining what he thinks is in store for four altcoins including XRP, Binance Coin (BNB) and Cosmos (ATOM) after a weekend that witnessed a bounce across the crypto markets. Van de Poppe tells his 613,700 Twitter followers that he believes XRP appears poised for a brief pullback […]

The post Here’s What’s Next for XRP, Binance Coin, Cosmos and One Low-Cap Altcoin, According to Popular Analyst appeared first on The Daily Hodl.

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Algorithm Known for Outperforming Bitcoin and Crypto Markets Reveals New Altcoin Picks for the Week

A robot with a reputation for outpacing the crypto markets is presenting its latest portfolio allocations as Bitcoin (BTC) and Ethereum (ETH) attempt to stay afloat. Each week the Real Vision Bot conducts surveys in order to create algorithmic portfolio assessments consistent with a “hive mind” consensus. The bot’s newest data finds that traders’ risk […]

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Top Analyst Says Altcoins Could Go ‘Ballistic’ This Week, Maps Out Path Ahead for Bitcoin (BTC)

A closely tracked crypto strategist is bullish on altcoins for the coming week and predicts that they sustain their current momentum. In a new strategy session, pseudonymous analyst DonAlt says that he’s closely watching the stock market because he believes crypto is still correlated to the S&P 500. According to the crypto analyst, the S&P […]

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Influencers Intentionally Loot Millions From Crypto Community In Pump And Dump Scam

Two conspiracy theorist influencers have caused a lot of investors to lose crypto funds in a pump-and-dump scheme. They presented a portfolio of cryptocurrencies with dubious claims about authenticity and institutional backings. These claims aimed to create enough hype for the cryptos and raise their prices more than they should be. Given that they have […]

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Five Altcoins Are Showing Strength As Bitcoin Bottoming Begins, According to Analyst Nicholas Merten

A closely followed crypto analyst says five large-cap altcoins are starting to flash signs of strength as Bitcoin (BTC) attempts to carve a bottom. Nicholas Merten tells his audience of 516,000 YouTube subscribers that a shift in altcoin markets is beginning, with Bitcoin in the process of bottoming out.  “We are getting into the kind […]

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Crypto Analyst Who Predicted Bitcoin (BTC) Crash Below $23,000 Has New Alert for Crypto Traders

The popular crypto analyst who accurately predicted current market woes is now cautioning investors that Bitcoin (BTC) is likely to fall further. The pseudonymous trader Capo tells his 409,300 Twitter followers he sees no indication that BTC has reached a cycle bottom around the $20,000 level. “Based on what you read on Twitter, you may think […]

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Altcoins

Whales Are Piling Into Top Gaming Altcoin – And Letting Go of Three Crypto Assets, According to Analytics Firm

Analytics firm Santiment is looking at crypto’s richest wallets to identify possible entry points amid a long-term downtrend in the markets. First on the firm’s radar is decentralized virtual world The Sandbox (SAND), which Santiment says experienced “eye-opening supply accumulation” despite recent price struggles. “The Sandbox, one of the altcoin darlings from late 2021, has […]

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