Bitcoin could test $90,000 after shorts get squeezed, but traders warn leverage is building
Bitcoin has broken out to $86,000, but analysts say the next leg depends on whether spot buyers continue to show up as leverage builds.
FOLLOW THE THREAD · PUBLIC SOURCECoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Latest stories from CoinDesk. Read, like, and join the conversation.
Bitcoin has broken out to $86,000, but analysts say the next leg depends on whether spot buyers continue to show up as leverage builds.
Bitcoin extended a slow climb through the Asian session while regional equities and U.S. stock futures rose on progress in trade talks between Washington and Beijing.
Bitcoin is down just 1.5% in its historically weakest month and remains on track for its first quarterly gain in a year, despite rising rates, surging oil and a stronger dollar.
Bitcoin’s drawdown mirrors its position before the Fed’s first hike in March 2022, raising questions over whether a relief rally could precede further losses.
Bitcoin is stuck near $80,000 as traders build stablecoin positions that could return to the market once Fed uncertainty clears.
Bitcoin fell 1.7% since midnight UTC to $76,862, unwinding a late Monday rally as Polymarket odds on the Clarity Act becoming law this year halved overnight.
Senators take a procedural vote on the crypto market structure bill later Tuesday. Bitcoin has given back 3% since touching $79,530 overnight, with XRP and zcash the only majors gaining ground.
Bitcoin pulls back from $79,000 as the Senate prepares to vote on the Clarity Act and oil prices rise.
Bitcoin rose 1.9% since midnight UTC while Nasdaq 100 index futures fell 1.65% on calls to slow AI development and crude gained almost 4% on a Saudi pipeline closure.
Bitcoin rose above $77,000 as calls to slow AI development hit technology shares, while rising oil prices added to market pressure.
Every major is red ahead of the August inflation print. Bitcoin is down 5% on the week and zcash fell 10% on the day.
Bitcoin rose 0.7% since midnight UTC to around $77,200, and 68 of the CoinDesk 100 constituents gained, though the index remains 1.4% lower over 24 hours.
Bitcoin’s golden cross may support the longer-term outlook, but history suggests much of the upside often occurs before the signal appears.
Bitcoin fell 2% over 24 hours to $78,111 as 95 of the 100 CoinDesk 100 constituents declined, with most of the damage done overnight.
Bitcoin advanced to as high as $79,700 while Brent crude topped $100 and European shares fell, leaving crypto tracking gold rather than equities.
Bitcoin fell to nearly $77,600 on Tuesday before clawing most of it back, leaving it little changed on the day while zcash gained roughly 43% on the week and Grayscale's new fund crossed half a billion dollars.
Bitcoin fell 0.42% since midnight UTC to $78,874, but the CoinDesk 20 rose 0.2% and the memecoin index gained 0.41% as BNB Chain tokens rallied.
Bitcoin is back above $77,500 with every major green on the day, though the week still reads red. Global investors are carrying their lowest currency protection on U.S. assets in a decade.
Bitcoin fell 1% since midnight as Brent jumped past $93 and Treasury yields climbed toward 4.8%.
Bitcoin is holding near $78,000 as August closes. The dollar strength that pushed the yen past its intervention line is the same force capping crypto.