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Category: Bitcoin Price

Bitcoin records largest single-day Exchange outflow in 1-year as BTC price breach $40K

Bitcoin price is currently hovering around the $40,000 mark after breaking out of the $35k resistance and forming good support at $38,800. The top cryptocurrency hit a monthly high of $40,816 earlier today before retracing under $40K again. The on-chain data suggest traders have turned bullish again as they expect BTC to solidify its position

The post Bitcoin records largest single-day Exchange outflow in 1-year as BTC price breach $40K appeared first on Coingape.

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Bitcoin Price Drops $1,000 In 12 Hours After Amazon Dispels Bitcoin Integration Rumors

Bitcoin price promptly lost $1,000 in 12 hours after an Amazon spokesperson confirmed that the company was not planning to add bitcoin to its platform. The price which had seen a major uptick in the price in the day following the news of the company accepting bitcoin has now started to correct back down. Amazon rumors circulated the market, contributing to major gains in the crypto market. Coins like Bitcoin and Dogecoin saw over 10% gains added to their prices in just 24 hours. The crypto market recorded significant gains as the market saw hundreds of millions of shorts liquidated in a short period of time. Related Reading | Over $800 Million Bitcoin Shorts Liquidated As Price Surges 12% In 24 Hours As news spreads around the market of the denials, prices continue to fall across the board. Cryptocurrencies like Bitcoin and Ethereum have recorded dips in their prices in the last 12 hours following this. Amazon Interested In Cryptocurrencies A spokesperson for the company denied all rumors of Amazon integrating bitcoin on their platform and making its own native token. But this doesn’t mean that the company has no interest in the cryptocurrency industry. According to the spokesperson, Amazon will continue to explore the space and see what it holds for its customers. “Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true. We remain focused on exploring what this could look like for customers shopping on Amazon.” BTC loses $1,000 in following Amazon response | Source: BTCUSD on TradingView.com No cryptocurrencies, in particular, were named in the email correspondence with CoinDesk in which the rumors were dispelled. But as the top cryptocurrency in the market, bitcoin is usually always the first point of contact when companies decide to dip their feet in the crypto market. Market Impact Going Forward Continuing on this streak might see the asset’s price falling even further down. Although the e-commerce giant did not completely denounce the entire industry. The market continues to record small losses as the hours go by. But so far, not a wide margin of losses. Related Reading | Number Of Investors Holding Bitcoin Tripled In Last Three Years The impact of the rumors of the Amazon bitcoin integration continues to show just how important adoption is to the wider crypto industry. Mainstream usage will be the final stage of adoption, and prices of BTC and other cryptocurrencies are likely to soar. A 10% gain in just hours following a rumor like this sets the stage for market reactions when actual adoptions like this happen. Bitcoin has recorded over a 3% loss following this news, to be trading in the $37,000 price range. Featured image from Al Jazeera, chart from TradingView.com
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Bitcoin (BTC) Price Falls 8% as Amazon Denies Bitcoin Payment Plans

Bitcoin price topped $40,000 to record a new monthly high of $40,499 earlier today before tumbling 8% to a daily low of $36,441. The top cryptocurrency is currently trading at $37,141. The price pump yesterday followed by an 8% decline is being attributed to Amazon’s Bitcoin payment news. Yesterday, a majority of media outlets reported

The post Bitcoin (BTC) Price Falls 8% as Amazon Denies Bitcoin Payment Plans appeared first on Coingape.

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Bitcoin Money Transfer Startup Sees Massive Investor Demand Post El Salvador Push

Bitcoin money transfer startup Zap has become an investor favorite within a month after Salvador President Bukele introduced a national bitcoin wallet program. While it is not the official payment app in El Salvador, the main Bitcoin payment app of the company Strike is one of the most popular in Central America. The creators of

The post Bitcoin Money Transfer Startup Sees Massive Investor Demand Post El Salvador Push appeared first on Coingape.

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Bitcoin Price Breaks 7-month long RSI channel, Will BTC Move Past $35K?

Bitcoin (BTC) price gained another 5% over the past 24-hours to rise to a new daily high of $33,943. The top cryptocurrency has been consolidating under $40K for more than two months now, failing to solidify its position above $35K despite a couple of breakouts. BTC might be looking for a strong trend reversal as

The post Bitcoin Price Breaks 7-month long RSI channel, Will BTC Move Past $35K? appeared first on Coingape.

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