The price of Bitcoin dropped 3% in just 30 minutes after the major cryptocurrency exchange OKEx suspended withdrawals.
Bitcoin Price News
The price of Bitcoin (BTC) can refer to either the energy cost of maintaining and securing the Bitcoin network through mining or the market value of BTC at a particular moment or over the course of time. Most of the discourse tends to surround the latter.
Bitcoin is a radically market-driven asset that is not backed by any commodity or central authority. As such, Bitcoin price movements tend to be volatile. Bitcoin’s price today will be different from Bitcoin’s price tomorrow. Ultimately, the price of Bitcoin is the result of the combined activities of a global community of stakeholders including miners, traders and consumers.
There are various theories on how the market values (or ought to value) the price of BTC, from the supply-based pricing model, which necessitates increasing demand for value to increase, or the efficient-markets hypothesis (EMH), which asserts an ultraefficient, omnipotent marketplace that has already factored in the necessary information, to the stock-to-flow (STF) model, which measures an asset’s scarcity by tracking the ratio between current supply and annual production rate. This last model has attracted many in the BTC community for its thorough analysis and incredibly bullish sentiment.
The price of Bitcoin is likely to see a retest of $12,000 in the short term.4882
The MVRV ratio is firmly sticking to its 2-year uptrend, with support in place for fresh all-time highs, says Stack Funds.10285
The veteran trader says bullish trends make shorting the current correction a dangerous move, and the dip “may already be over.”13562
The price of Bitcoin rejected $11,500 in a swift price drop alongside rising shorts on BitMEX and slumping U.S. stocks.12743
Futures volume and open interest spiked at derivatives exchanges after Bitcoin price hit $11.7K, highlighting increasing participation from institutional investors.3114
The information in the report appears to confirm what many in the industry already believed to be true.4684
Bitcoin may have solidified a price base due to big player purchases.2131
Referring to Bitcoin as a commodity seems to show a maturing view of the asset.8389
Social sentiment data, strengthening fundamentals and on-chain analysis suggest Bitcoin is on the verge of a 2017-style bull run.15042
Cryptoassets typically rally the most over a week rather than the first hour or the first day after a big development, according to new findings from eToro.10345
"You'll see some amazing things happen with Bitcoin in 2021,” the analyst said.15944
Tether’s USDT stablecoin dominates crypto market volumes but data shows its $15.7B market cap does not negatively impact Bitcoin’s volume.11914
Expect Bitcoin in the number one spot and Tether second by market capitalization before 2022.9298
Here’s how investors can use Bitcoin options to generate DeFi-sized yields without having to wrap their hodl stack.3292