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Bitcoin (BTC) Hits New All-Time High, Ethereum (ETH) Jumps Further as Volatility Soars

Bitcoin (BTC/USD) and Ethereum (ETH/USD) Worth, Evaluation and Chart:

  • Bitcoin (BTC) simply misses buying and selling at $36,000
  • Ethereum constructing a powerful collection of upper lows.
  • FCA ban on cryptocurrency derivatives comes into power immediately.

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Bitcoin printed a recent all-time excessive of $35,854 earlier within the session earlier than slipping again under $35,000. Quantity within the final 24 hours is simply over $68 billion, in keeping with knowledge from CoinMarketCap, which additionally recorded the next excessive of $36,361 as costs between completely different buying and selling venues splinter. Market volatility, as measured by the ATR indicator, is now at its highest stage on document, with a present studying of slightly below $2,200 on a 14-day foundation. With shopping for curiosity persevering with to drive the market, any sell-offs of set-backs will likely be seen as one other alternative to enter a market that, in the intervening time, is pushing relentlessly larger. As all the time with the crypto area, care ought to be taken, particularly with volatility at its present excessive stage.

Measure Volatility

Bitcoin (BTC/USD) Every day Worth Chart (June – January 6, 2021)

Bitcoin (BTC) Hits New All-Time High, Ethereum (ETH) Jumps Further as Volatility Soars

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Retail dealer knowledge present 75.72% of merchants are net-long with the ratio of merchants lengthy to quick at three.12 to 1. We usually take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests Bitcoin costs could proceed to fall.Positioning is much less net-long than yesterday however extra net-long from final week. The mixture of present sentiment and up to date modifications provides us an extra combined Bitcoin buying and selling bias.

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Ethereum continues to journey the wave larger and a break and shut above Monday’s $1,167 excessive will open the door for a possible re-test of the January 2018 excessive of $1,420. Once more volatility is at excessive ranges, utilizing ATR, however as lengthy as the latest collection of upper lows stay in place, as with Bitcoin, any set-backs/sell-offs ought to be rigorously thought of.

Ethereum Every day Worth Chart (June 2020 – January 6, 2021)

Bitcoin (BTC) Hits New All-Time High, Ethereum (ETH) Jumps Further as Volatility Soars



of purchasers are web lengthy.



of purchasers are web quick.

Change in Longs Shorts OI
Every day four% -6% three%
Weekly 33% 33% 33%

Retail dealer knowledge present 89.87% of merchants are net-long with the ratio of merchants lengthy to quick at eight.87 to 1. We usually take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests Ethereum costs could proceed to fall.Positioning is extra net-long than yesterday however much less net-long from final week. The mixture of present sentiment and up to date modifications provides us an extra combined Ethereum buying and selling bias.

Final October, the UK Monetary Conduct Authority (FCA) printed last guidelines ‘banning the sale of derivatives and alternate traded notes (ETNs) that reference sure kinds of cryptoassets to retail shoppers’. These guidelines come into power immediately and successfully ban any retail dealer from opening a brand new place, whereas pre-existing positions will be saved till closed. These guidelines don’t apply to skilled merchants.

FCA Bans the Sale of Crypto-Derivatives to Retail Customers

What are your views on Bitcoin (BTC) and Ethereum (ETH) – bullish or bearish?? You possibly can tell us by way of the shape on the finish of this piece or you may contact the creator by way of Twitter @nickcawley1.

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