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Criptovalute:  7,186Mercati:  30,048Cap. del mercato:  $345,868,228,305Vol 24h:  $96,668,813,644Dominanza BTC:  57.7%
Cap. del mercato:  $345,868,228,305Vol 24h:  $96,668,813,644Dominanza BTC:  57.7%Criptovalute:  7,186Mercati:  30,048

Bitcoin Derivatives Data: the Rally to $11,500 Likely the Start of a Greater Move

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Bitcoin Derivatives Data: the Rally to $11,500 Likely the Start of a Greater Move

NewsBTC1 month ago
Published on August 08, 2020 10:00 GMT+0edited on August 08, 2020 11:34 GMT+0

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Bitcoin has stalled in the high-$11,000s over the past few days after the cryptocurrency faced its second rejection at $12,000. As of the time of this article’s writing, the cryptocurrency trades for $11,650. This is a price above critical support levels such as $10,500 and $11,500, but it is clear that the uptrend Bitcoin was embroiled in has slowed.

Chart of BTC's price action over the past two weeks from TradingView.com

Derivatives data, though, suggests that the leading cryptocurrency may soon move higher.

Related Reading: Crypto Tidbits: Bitcoin Explodes Past $11k, Ethereum 2.0 Nears, Cardano’s Shelley Launches

Bitcoin Derivatives Data Suggests BTC Will Soon See Another Leg Higher

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