Newer traders might be unaware of this, but investors can also borrow BTC to margin trade a short position, thus betting on the price downside. This is why some analysts monitor the BTC, and USDT total lending amounts to gain insight into whether investors are leaning bullish or bearish. Interestingly, data shows that even as…
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Bloomberg Intelligence senior commodity strategist Mike McGlone equated the current consolidation in Bitcoin (BTC) price to that of a “caged bull, well-rested to escape.” When compared with the rallies a year after the previous two Bitcoin halvings in 2012 and 2016, the strategist called the current price action “tame.’ According to McGlone, Bitcoin is “still…
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Bitcoin (BTC) is a “caged bull” and the end of its current price run is nowhere near at $60,000, says Bloomberg Intelligence. In a tweet on April 12, senior commodity strategist Mike McGlone delivered his latest bullish verdict on the state of Bitcoin this month. Analyst: 2021 bull market is “tame” According to McGlone, who…
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Bitcoin’s bullish 2020 closeout was not enough to prevent Canaan from incurring a net loss in 2020. According to the company’s unaudited financial report for Q4 2020, the Bitcoin (BTC) miner maker’s net loss for 2020 was about $33 million. However, Canaan’s 2020 net loss is significantly lower than the $148 million recorded in 2019.…
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Bitcoin’s (BTC) hesitation near the all-time high suggests that the bulls and the bears are waiting for a trigger to start the next trending move. The bulls are searching for a positive catalyst to thrust the price above the overhead resistance. On the contrary, the bears may be standing by in anticipation of any signs…
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