First Mover: $1 Trillion of Cryptocurrencies Shows Booming ‘Asset Class’

First Mover: Bitcoin Hits Record as `Blue Wave’ and `Kimchi Premium’ Look Bullish

First Mover: As Bitcoin Rally Pauses, DeFi Keeps Astounding

First Mover: Bitcoin’s Plunge to $31K Shows How Bullish Market Had Become

Bitcoin (BTC) suffered its biggest pullback in four months, tumbling 9% after a seven-day winning streak that took prices to a new all-time high of $34,347 on Sunday. “Bitcoin is having a much-needed reset,†Matthew Dibb, co-founder, and COO of Stack Funds, told CoinDesk. Some analysts saw signs that cryptocurrency traders might be rotating out […]

First Mover: XRP Plunges 20% as Traders Assess SEC’s Ripple Suit

Bitcoin (BTC) was little changed, with prices appearing unable to hold levels above $24,000. “Bitcoin has moved vertically for a few weeks now and pullbacks will happen,†the Norwegian cryptocurrency-analysis firm Arcane Research wrote Tuesday in a weekly report. The bigger story Wednesday in digital-asset markets was the steep plunge in prices for the payments […]

First Mover: What People Said About Bitcoin In 2020 (Both Good and Bad)

Bitcoin (BTC) was higher, changing hands just above $23,000 after dropping for two straight days from a record high around $24,300. “The market looks to begin a consolidation phase above $22,000,†according to Matt Blom, head of sales and trading for the cryptocurrency firm Diginex. “Further attempts to drive the market lower are likely to […]

First Mover: As Markets Turn Ugly, Bitcoiners Thank Secular Trend

Bitcoin was lower for a second day, retreating following an eight-day streak of gains that was the longest since June 2019. “A period of consolidation could be beneficial,†Simon Peters, an analyst for the trading platform eToro, wrote early Monday in an email, “allowing things to stabilize and cool down.†In traditional markets, European shares […]

First Mover: Bitcoin Rally Stalls as ‘DeFi Summer’ Proves Endless

Bitcoin (BTC) was little changed after climbing for six straight days, though prices appeared unable to hold fresh highs above $23K. “The market has paused for a bit to consolidate,†Joe DiPasquale, CEO of the cryptocurrency hedge fund BitBull Capital, told First Mover in an email. “This is normal behavior after major surges as market […]

First Mover: Geek-Fest Turns Relevant as Bitcoin Passes $21K, $22K, $23K

Bitcoin (BTC) was higher for a sixth straight day, carrying through after surging 9.9% Wednesday to surpass $20,000 for the first time in the cryptocurrency’s 11-year history. “We are expecting this inertia to generate ripple effects going into the end of the year as momentum continues to skew bitcoin to the upside,†Lennard Neo, head […]

First Mover: Stimulus Tests Bitcoin in Real-Time, and It Passes $20K

Bitcoin (BTC) surged 6% Wednesday to a new all-time high price, clearing the key psychological threshold of $20,000 that had acted as a market ceiling in recent weeks. “If history is any indication of future performance, some kind of pullback in the overall market confidence should appear sooner rather than later,†the Norwegian cryptocurrency analysis […]

First Mover: Reminiscing on Pre-Pandemic Bitcoin as Rally Stalls

Bitcoin (BTC) was rising for a fourth straight day, though in a repeat of last week’s action, the cryptocurrency struggled to push above $20,000 after its months-long rally from a low around $5,000 in March.  “The level of $20,000, which is commonly equated with bitcoin’s all-time high, represents a massive psychological barrier and could likely […]

First Mover: Horrible 2020 Economy Proved Best Thing for Bitcoin

Bitcoin was lower on Monday, holding just above $19,000 after rallying about $1,000 over the weekend. “There is an element of fatigue, with the market unable to drum up the momentum needed to spur us to new highs,†Matt Blom, head of sales and trading for the cryptocurrency firm Diginex, told clients in an email. […]

First Mover: Stimulus Bet Wins Even as Bitcoin Slips Below $18K

Bitcoin (BTC) was lower for a second day, slipping below $18,000 to the lowest in almost two weeks.  “The momentum that characterized bitcoin throughout October and November seems to have cooled down,†Matt Blom, head of sales and trading for the cryptocurrency-focused financial firm Diginex, told clients Friday in a note. “Prices retrace even in […]

First Mover: Bitcoin Stuck as ECB’s Lagarde Primes Extra €500B Stimulus

Bitcoin (BTC) was lower while staying mostly within this month’s range of roughly $18,200 to $19,700. “Upward price action seems to stall, and our analysts believe more inertia is required to push bitcoin beyond the $20,000 psychology barrier,†Lennard Neo, head of research for the cryptocurrency investment firm Stack Funds, wrote Thursday in a report. […]

First Mover: Why Wells Fargo Won’t Recommend Bitcoin to Clients

Bitcoin was little changed, holding above the key psychological support level of $18,000 after a drop on Tuesday of more than $800, or 4.5%. But that decline was only the biggest in a week, in a reminder of just how volatile bitcoin prices can be. The slide might have been triggered by blockchain data showing […]

First Mover: Wells Fargo Bitcoin Briefing Could Signal Bull Run Intact

Bitcoin was lower for a second day, dropping below $19,000 after bulls failed to push prices past the psychological $20,000 threshold. “The overly confident market has been dampened,†the Norwegian crypto-market analysis firm Arcane Research wrote Tuesday in a report. In traditional markets, European shares slid, led by travel-related companies, and U.S. stock futures pointed […]

First Mover: Why Mohamed El-Erian Might Have Held Bitcoin at $19K

Bitcoin was lower, staying in the past week’s range of roughly $18,500 to $19,700. Prices are up 167% year-to-date, having started off 2020 at around $7,160. “There is no doubt that $20,000 remains a barrier, both from a technical perspective and on an ideological level,†Simon Peters, an analyst for the trading platform eToro, wrote […]

First Mover: Bitcoin Below $19K and Customers Flee OKEx

Bitcoin was lower, pushing prices back down below $19,000 toward where they started the week.  Digital-asset traders have been speculating whether prices would quickly breach $20,000 after the cryptocurrency surged earlier this week to a new all-time high of $19,920. But so far the market hasn’t been able to carry through. “In the short-run, this […]

First Mover: Ether Eyed as Value Play With Bitcoin Pressing $20K

Bitcoin was rising back toward the all-time high price of $19,920 notched earlier this week. “So far, prices remain constrained, either with sellers unwilling to part with their coins at any lower price or buyers unwilling to take further bets on a rally,†Matt Blom, head of sales and trading at the cryptocurrency-focused financial firm […]

First Mover: Short Shrift for XRP Token’s 169% Price Surge as Traders Obsess Over Bitcoin

Bitcoin was higher, in an indecisive-looking market swinging between about $18,300 and $19,300. Prices have failed to push higher after surging to a new all-time high of $19,920 earlier this week. “Expect additional short-term volatility,†Katie Stockton, a technical analyst for Fairlead Strategies, told CoinDesk’s Daniel Cawrey. In traditional markets, European stocks slipped and U.S. […]

First Mover: Bitcoin’s Failure to Break $20K Shows Big Investors Only Just Arriving

Bitcoin was lower, retreating after rallying over the past 24 hours to a new all-time-high price of $19,920, based on CoinDesk’s Bitcoin Price Index. Cryptocurrency analysts predicted that bullish traders might next target the $20,000 threshold, though the market could struggle to break through if large potential holders choose to take profits at that level. […]

First Mover: You Call That a Record? Bitcoin’s November Gains Are 3x Stock Market’s

Bitcoin was higher, appearing to mount a fresh run toward the all-time-high near $20,000. The largest cryptocurrency slid 1.3% in the seven days through Sunday, snapping a seven-week winning streak. As November draws to a close, bitcoin is up 37% just this month, its best performance since May 2019. “Even if the market has some […]

First Mover: Why Bitcoin Isn’t a Replacement for Gold Just Yet

The price of gold is off from its all-time high while bitcoin is within striking distance of a record. Billions of dollars are flowing out of gold while institutional money is pouring into bitcoin. The narrative for some cryptocurrency advocates – and a growing chorus on Wall Street – is that investors have finally seen […]

First Mover: Why Is Bitcoin’s Price Rising? Here Are a Few Possible Answers

Bitcoin is trading at fresh 35-month highs above $19,000, having defended the psychological support of $18,000 during the Asian trading hours. The crypto market leader is now just 4% short of testing the record high of $19,783. Hence, most alternative cryptocurrencies, which are still down significantly from their respective lifetime highs, are beginning to look […]

First Mover: Bitcoin ‘Rich List’ Grows as Whales HODL and Price Retakes $18K

Bitcoin reached fresh 35-month highs above $18,400 during the European trading hours. The cryptocurrency has failed to keep gains above $18,000 in the previous two trading days. It will be interesting to see if prices establish a foothold above that level on Friday. “The market showed a lot of resilience and dip buying interest to […]

First Mover: What China Crackdown Means for $18K Bitcoin as Dimon Passes on Tea

Bitcoin was flat to slightly lower after briefly climbing Wednesday above $18,000 for the first time since December 2017. “There is a tsunami of buying power up against reluctant sellers,†Charlie Morris, CEO of the cryptocurrency fund manager ByteTree, wrote in a note to clients. “These buyers are putting real money behind Bitcoin, not the […]

First Mover: As Bitcoin Shoots Past $18K, There’s Comfort in the Crowded Trade

Bitcoin’s ascent continues, with prices scaling the $18,000 mark during Asian trading hours. In a sign of persistent dip demand, sudden pullback to $17,200 seen following the breakout to fresh 34-month highs was quickly reversed. “Bitcoin will now be setting its sights on the all-time high of $20,000,†Simon Peters, crypto asset analyst at multi-asset […]

First Mover: Bitcoin Tops $17K as Scaramucci Makes Entrée, Ethereum Meets Rival

Bitcoin climbed above topped $17,000 early Tuesday for the first time since January 2018, pushing this year’s remarkable rally to 137% on a year-to-date basis. That’s 10 times more than the Standard & Poor’s 500 Index of large U.S. stocks. “Bears are in disbelief,†the digital-asset market analysis firm Arcane Research wrote early Tuesday in […]

First Mover: Vaccine Won’t Come Fast Enough to Avoid More Stimulus

Bitcoin was higher, climbing back above $16,000 on Monday after dipping below the mark over the weekend. “Should we trade back above $16,490, then we expect to see the bulls take the market by the horns and drive prices to a $17,000 handle,†Matt Blom, head of sales and trading at the cryptocurrency financial firm […]

First Mover: Why the Fed Cares About Remote Working – And What It Means for Bitcoin

Bitcoin was lower after surging nearly $600 on Thursday to climb above $16,000 for the first time in almost three years. “Investors should plan for volatility as well as price appreciation,†the blockchain analysis firm Chainalysis wrote in a newsletter. In traditional markets, European shares fluctuated and U.S. stock futures pointed toward a higher open […]

Bitcoin Breaches $16K as (Committed) Holders Diss Dalio’s Diss

Bitcoin briefly climbed above $16,000 for the first time in three years before quickly falling back below the psychological threshold. Digital-asset market traders and analysts say the cryptocurrency is likely to make another run higher, with strong demand expected from traditional investors looking for a hedge against inflation, at a time when sellers appear unwilling […]

First Mover: Bitcoin Pause, Ethereum Snafu, 1,000% Returns Put Focus on Exchange Tokens

Bitcoin was higher, pushing toward the upper edge of its recent range between about $14,700 and $15,600. “The positive sentiment towards bitcoin has not gone away,†said Denis Vinokourov, head of research at crypto prime broker Bequant.  In traditional markets, Asian shares tumbled, led by Alibaba and Tencent, as Chinese government issues regulations designed to curb […]

First Mover: Bitcoin Needs No Vaccine as Druckenmiller Lays Down ‘Better Bet’

Bitcoin was higher, though barely, appearing to settle into a new range over the past several days between roughly $14,800 and $15,600. “Should bitcoin prices consolidate this week,†wrote Matt Blom, head of sales and trading for the digital-asset firm Diginex, “it would set us up for the next leg up towards $17,000.†In traditional […]

First Mover: What’s Next for Bitcoin as Wall Street Gets Vaccine Booster

Bitcoin was higher for a second day, staying in a range between roughly $15,200 and $15,600, as news of progress in developing a coronavirus vaccine appeared to touch off a rally in U.S. stocks. With the outcome of last week’s U.S. presidential election now mostly settled, crypto analysts turned to other market factors, such as […]

First Mover: Resistance Is Futile as Bitcoin Breaches $15K, Crypto Gets Greedy

Bitcoin was lower, pausing after after a three-day rally that saw prices approach $16,000, their highest since early 2018. The recent rally left the largest cryptocurrency up 116% year to date, and some bullish digital-asset market analysts were already looking at even higher levels. Denis Vinokourov, head of research at the crypto prime broker Bequant, […]