Joseph Young

The price of Ethereum is declining against both Bitcoin and the U.S. dollar. This comes as the dominant cryptocurrency soared to a new all-time high in the last several hours. As Bitcoin began to climb towards $49,900, the price of Ethereum actually dropped in the same period. Although Ethereum has sometimes lagged behind Bitcoin during […]

In a conversation with CNBC about Bitcoin, JPMorgan co-president Daniel Pinto said the demand for Bitcoin will come at “some point.” Albeit the message seems ostensibly optimistic, Pinto is implying that the demand for Bitcoin isn’t here just yet. What kind of demand for Bitcoin would be sufficient? The price of Bitcoin has increased by […]

According to the data analytics platform Laevitas, the Bitcoin options market is seeing a “call buying frenzy.” This means that the buyer demand for BTC is rising rapidly in the form of options. The options market has seen significant growth in recent months. Data from Skew shows the total options market open interest has increased […]

SUSHI and AAVE, the governance tokens of major DeFi protocols SushiSwap and Aave, severely pulled back after the price of Bitcoin rallied beyond $40,000. Analysts suspect that the profits from DeFi tokens throughout the past few weeks have flown back into Bitcoin. DeFi down bigly, when will it begin recovering? Throughout early February, the DeFi […]

AAVE, the native governance token of the Aave lending protocol, rose by over 50% within the past day. The rally comes as the entire DeFi market sees a major rally from an overall increase in appetite for the sector. Why is DeFi and Aave rallying? The DeFi market has seen more traction from both retail […]

The Bitcoin price pumped and fell immediately after Tesla CEO Elon Musk talked about BTC positively on Clubhouse. Musk complimented Bitcoin, stating that it is ready for broader adoption. He said that he is “late to the party,” suggesting that he is now an enthusiast in the dominant cryptocurrency. So why did Bitcoin react with […]

The price of Bitcoin fully retraced after surging to around $38,000 in the past 24 hours. BTC initially surged after Tesla CEO Elon Musk put the word “Bitcoin” in his Twitter bio. Since then, BTC has dropped back down to around $33,000, hovering just below $34,000 in the last few hours. Will Bitcoin recover soon? […]

The price of Bitcoin surged 18% after Elon Musk, the CEO of Tesla and SpaceX, added “Bitcoin” to his Twitter bio. Why would Bitcoin rally this hard off of a Twitter bio change? Musk adding Bitcoin to his bio carries more significance than many can imagine. First, Musk is the richest man in the world, […]

Scott Melker, a cryptocurrency trader and the author of The Wolf Den Newsletter, believes a short-term Bitcoin bottom is close. Melker often uses the relative strength index (RSI) indicator on the 4-hour and 6-hour candle chart time frames to identify potential trend reversals. The RSI is an indicator that is used to evaluate whether an […]

The cryptocurrency market saw over $450 million worth of futures contract positions liquidated in the last 24 hours. In the same period, Bitcoin pulled back by more than 7%, showing weakening momentum. On Binance, the price of Bitcoin dropped to as low as $29,500, retesting a critical support level. What’s next after mass liquidation? The […]

The price of Bitcoin broke out of its 4-day range, pushing above a critical technical resistance level at $33,800. This upside movement is important because it sets BTC up for a potential retest of the $40,000 resistance area. $37,800 is the big roadblock before $40,000 for Bitcoin Technically, Bitcoin has to cleanly break through the […]

The price of Bitcoin is showing strong momentum as it recovers above $33,000 following a relatively large correction on January 12. The general market sentiment around Bitcoin remains positive. But, there is one major invalidation point for the bearish scenario for BTC. Bitcoin must reclaim $36,000 In the foreseeable future, if BTC wants to reach […]

Grayscale purchased half a billion dollars worth of Bitcoin in the last 24 hours, according to Qiao Wang, an investor at DeFi Alliance. The massive increase in Bitcoin inflows into Grayscale merely a week after they reopened their products to new investors is indicative of high institutional demand for BTC. Institutions, not retail, is driving […]

The daily transaction volume of Ethereum is going “parabolic,” according to researchers. This trend buoys the short to medium-term bull case of ETH, which has been outpacing Bitcoin in the past few days. Ryan Watkins, a researcher at Messari, said: “Ethereum’s daily transaction volume is going parabolic. It now settles $12 billion in transactions daily […]

The price of Bitcoin is hovering under $37,000 after the correction from $40,000 in the past 72 hours. Trader Peter Brandt believes BTC would either face a “complicated” correction or see a broader rally. Brandt, a long-time trader, pinpointed the daily price chart of Bitcoin to explain that the range is tightening. When the range […]

YFI soared 10% within an hour after a V2 vaults teaser was uploaded by the Yearn.finance Twitter handle. pic.twitter.com/2bcO70Ps6h — yearn.finance (@iearnfinance) January 18, 2021 A pseudonymous developer working on the v2 vaults said: “After 4 months and 8 design iterations, v2 Vaults are finally live! So proud to see this extensive redesign in action! […]

Chainlink and Aave, two major DeFi-related cryptocurrencies, are surging strongly in tandem with Bitcoin. Aave surpassed $200 for the first time in history, solidifying its position as the fourth-largest DeFi token behind Uniswap (UNI). Chainlink keeps its position as the biggest DeFi token by market capitalization, valued at around $9 billion. Why are Chainlink and […]

This analysis was brought to you by Alpha Alarm, a Substack newsletter featuring daily crypto analysis. You can subscribe here. The market sentiment around Bitcoin is improving once again. Bitcoin strongly recovered from $30,500, solidifying it as a major support area. Oaktree’s Howard Marks, who was a Bitcoin skeptic for a long time, has become […]