By Nicolas Abington | Crescent City Capital Market Analyst Intern Bitcoin dominance hits 26 month high as it achieves 71% of Crypto market capitalization, a bullish signal that was last seen when bitcoin prices were approximately $1290 per ₿1.Bitcoin has been on a steady increase in dominance since it broke a previous barrier of 69% […]
By Crescent City Capital Team In the broader cryptocurrency complex, the story continues to be one of widening spreads. The relative value of Bitcoin (BTCUSD) versus its two primary alternative counterparts, Litecoin (LTCUSD) and Ether (ETHUSD) has widened significantly over the last several months. We first noted this trade in late July, and it has […]
By Jing Zhu | Crescent City Capital Market Analyst Intern Chinese Yuan Falls[1] Last Monday, China let the value of the yuan drop sending the currency above 7 CNH per USD. This decade-low marked a significant point in the US-China Trade War, resulting in a tumultuous stock market and a spike in US government bonds. Investors fear […]
By Jing Zhu| Crescent City Capital Market Analyst Intern Bitcoin Needs Weekly Close Above $12,000[1] Compared to last week, Bitcoin price has definitely made a short-term recovery. It is currently trading at $11,615. However, it needs to close above $12,000 this week if traders want to revive the bullish momentum. The repeated failure to do so […]
By Jing Zhu | Crescent City Capital Market Analyst Intern Price Spread of ETH BTC Price spread ratios between Ether-Bitcoin (ETH BTC) and Litecoin-Bitcoin (LTC BTC) have been trading at historical lows throughout July. Especially for ETH BTC, the spreads moved to a new all-time low of 0.0197. This price is well below the 0.025 level […]
By Jing Zhu | Crescent City Capital Market Analyst Intern Wednesday, Bitcoin price dropped to $9,049 before coming back up to $9,850 today. The price is currently struggling to break resistance at $10,000. On the 4-hour chart, candles with long wicks indicate that Bitcoin’s recovery is slowing down. If price breaks below $9580 (the low of the […]
