• Latest
Ethereum eyes 3-week winning streak vs. Bitcoin as BTC price drifts below $39K

Ethereum eyes 3-week winning streak vs. Bitcoin as BTC price drifts below $39K

August 5, 2021
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Bitcoin

Ethereum eyes 3-week winning streak vs. Bitcoin as BTC price drifts below $39K

coinnewsdaily by coinnewsdaily
August 5, 2021
in Bitcoin, Ethereum, Trading
0
Ethereum eyes 3-week winning streak vs. Bitcoin as BTC price drifts below $39K
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Bitcoin (BTC) fell sharply on Thursday after an attempt to reclaim $40,000 failed to attract enough buyers to the cryptocurrency.

Altcoins
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Accumulation recalls October 2020

According to data from Cointelegraph Markets Pro and TradingView, bitcoin/dollar fell to a local low of $38,700 on Bitstamp, a drop of approximately 1.5 percent in a matter of hours.

Related articles

5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022

Following comments made by Gary Gensler, the new Chairman of the United States Securities and Exchange Commission, on Tuesday, the largest cryptocurrency saw a significant increase in value, but the rally came to a halt at the psychologically significant $40,000 mark.

The decline on Thursday eliminated the possibility of the 21-week exponential moving average (EMA) — one of several moving averages being eyed by analysts this week — becoming firm new support.

#BTC is now in the process of retesting its 21-Week EMA as support

The 21-week EMA is a time-tested Bull Market indicator $BTC #Crypto #Bitcoin

— Rekt Capital (@rektcapital) August 4, 2021

Meanwhile, on-chain indicators contrasted once again with the lackluster BTC price action.
Thursday, in particular, revealed the extent to which long-term holders (LTH) have accumulated Bitcoin, which has reached new all-time highs:
LTHs now held a greater portion of the BTC supply than ever before.

“Previous bull markets were triggered when LTH supply reached between 63.6 percent and 71.5 percent, often after months at these levels,” Glassnode, which compiled the data, added in a statement.

“LTHs currently hold 66% of the $BTC supply.”

Bitcoin
Proportional long- and short-term holder supply chart. Source: Glassnode/Twitter

Traders bullish on Ether after hard fork

On altcoins, Ether (ETH) dominated the conversation amid bullish forecasts for fresh price gains, while the ETH/BTC pair is headed for its third consecutive green weekly candle.

The most recent successful hard fork of Ethereum’s token, which occurred as the cryptocurrency’s strength against Bitcoin continued, has prompted analysts to predict that the token will reach new highs in the coming months.

The price of ETH/BTC reached 0.0693 on Wednesday, the day of the hard fork’s implementation, the highest level in nearly two months.

It has been serving as a local resistance point since the beginning of the Bitcoin-inspired market drawdown in May, but the level of 0.07 BTC has yet to reappear.

It is undeniable that, among altcoins, ETH has demonstrated significant strength against Bitcoin, and the hard fork that will take place in London, known as Ethereum Improvement Proposal (EIP) 1559, should help to boost performance even further.

Traders, on the other hand, believe that there is a chance for recent gains to be maintained in the near future.

“I’m expecting a short-term top to be happening tomorrow on ETH,” Cointelegraph contributor Michaël van de Poppe told Twitter followers Wednesday.

“Healthy correction after EIP-1559 before the heaviest bull run of them all happens.”

Bitcoin/US Dollar FX Spot Rate, FX Spot Rate, COMPOSITE DISPLAY
ETH/BTC 1-day candle chart (Bitstamp). Source: TradingView
Tags: BitcoinBTCETHEtherEthereumForkGary GenslerMomentum
Share76Tweet48
Previous Post

Ripple granted access to Binance’s records in SEC securities case

Next Post

Bakkt, Binance, MoonPay, And Voyager Bring New Payment Solutions + More News

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building
Bitcoin

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
things you should know before investing in nfts
Alt Coin

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?
Bitcoin

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?
Alt Coin

What is the future of Ethereum (ETH)?

April 22, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum
Alt Coin

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
Load More
Next Post
Bakkt, Binance, MoonPay, And Voyager Bring New Payment Solutions + More News

Bakkt, Binance, MoonPay, And Voyager Bring New Payment Solutions + More News

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$23,447.000.05%
  • ethereumEthereum(ETH)$1,676.891.00%
  • tetherTether(USDT)$1.00-0.01%
  • binancecoinBNB(BNB)$330.73-0.19%
  • rippleXRP(XRP)$0.4163741.51%
  • cardanoCardano(ADA)$0.404671-0.34%
  • dogecoinDogecoin(DOGE)$0.0984526.14%
  • matic-networkPolygon(MATIC)$1.284.17%
  • okbOKB(OKB)$41.621.18%
  • solanaSolana(SOL)$24.680.35%
  • shiba-inuShiba Inu(SHIB)$0.00001522.46%
  • polkadotPolkadot(DOT)$6.94-1.24%
  • litecoinLitecoin(LTC)$99.62-0.22%
  • tronTRON(TRX)$0.0642960.55%
  • daiDai(DAI)$1.000.16%
  • cosmosCosmos Hub(ATOM)$14.89-1.18%
  • chainlinkChainlink(LINK)$7.320.93%
  • ethereum-classicEthereum Classic(ETC)$24.074.02%
  • leo-tokenLEO Token(LEO)$3.431.71%
  • moneroMonero(XMR)$173.531.20%
  • bitcoin-cashBitcoin Cash(BCH)$139.661.40%
  • stellarStellar(XLM)$0.0939291.67%
  • crypto-com-chainCronos(CRO)$0.0840813.86%
  • filecoinFilecoin(FIL)$5.57-1.25%
  • algorandAlgorand(ALGO)$0.2700280.92%
  • vechainVeChain(VET)$0.0249951.63%
  • internet-computerInternet Computer(ICP)$5.900.80%
  • aaveAave(AAVE)$89.33-1.29%
  • eosEOS(EOS)$1.122.67%
  • elrond-erd-2MultiversX(EGLD)$46.692.24%
  • theta-tokenTheta Network(THETA)$1.131.12%
  • tezosTezos(XTZ)$1.173.36%
  • huobi-tokenHuobi(HT)$5.690.28%
  • paxos-standardPax Dollar(USDP)$1.00-0.43%
  • havvenSynthetix Network(SNX)$2.757.95%
  • bitcoin-cash-svBitcoin SV(BSV)$43.420.12%
  • pancakeswap-tokenPancakeSwap(CAKE)$4.554.48%
  • dashDash(DASH)$61.91-1.96%
  • iotaIOTA(MIOTA)$0.2450964.15%
  • makerMaker(MKR)$708.042.82%
  • neoNEO(NEO)$9.011.88%
  • zcashZcash(ZEC)$47.421.10%
  • zilliqaZilliqa(ZIL)$0.0303165.10%
  • basic-attention-tokenBasic Attention(BAT)$0.2811612.96%
  • compound-governance-tokenCompound(COMP)$54.28-0.05%
  • nemNEM(XEM)$0.0410613.05%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • kusamaKusama(KSM)$38.411.34%
  • bitcoin-goldBitcoin Gold(BTG)$17.662.46%
  • qtumQtum(QTUM)$2.863.71%
  • sushiSushi(SUSHI)$1.54-1.51%
  • wavesWaves(WAVES)$2.87-0.70%
  • golemGolem(GLM)$0.2659416.33%
  • yearn-financeyearn.finance(YFI)$7,889.040.68%
  • ftx-tokenFTX(FTT)$1.89-21.50%
  • omisegoOMG Network(OMG)$1.570.52%
  • ontologyOntology(ONT)$0.2263874.15%
  • digibyteDigiByte(DGB)$0.0112300.67%
  • umaUMA(UMA)$2.151.51%
  • ethlendAave [OLD](LEND)$0.53-3.08%
  • UniswapUniswap(UNI)$2.4438.80%