Analysis Crypto by Thebittimes.Com

A crypto analyst gaining traction for timely Bitcoin calls is outlining a scenario where BTC breaks free from sideways trading and surges to new all-time highs. Pseudonymous analyst Credible tells his 468,700 followers on the social media platform X that Bitcoin appears to be following an Elliott Wave (EW) pattern where BTC consolidates in the next few weeks before igniting a breakout rally toward the end of July. Elliott Wave theory is an advanced form of technical Analysis that seeks to forecast future price movements by tracking crowd psychology, which often unfolds in recurring wave patterns. Says Credible, “BTC holding up very well over the last few days. As stated in my last update, I think we will test the blue zone sooner or later, whether that be before or after taking our local range highs. From an EW perspective, something like this would be ideal. Although there are, of course, a few different structures that we may see to complete this corre...

Dogecoin (DOGE), the original meme coin, has had an interesting year. While the digital asset spent most of 2024 either trading flatly or in a slight downtrend after a short move to the upside in March, the wider cryptocurrency bull market that ignited in November has seen DOGE prices skyrocket. To be fair, that is true of most of the leading cryptocurrencies — but DOGE has an additional advantage — Elon Musk’s long-term support for the coin, as well as his recent naming to the Department of Government Efficiency. By late November, Dogecoin was trading in the vicinity of 0.4188$ — at press time, the price of DOGE had receded to $0.4078, bringing year-to-date (YTD) returns to 195.71%.  Picks for you If you invested $1,000 in Dogecoin at the start of 2021, you’d have this much now 9 mins ago ...

Is bitcoin experiencing a Gamestop-style gamma squeeze? Fielding questions from increasingly anxious speculators as the currency roared toward all-time highs during Tuesday’s trading session, Galaxy Digital researchers posted their estimate as of midday. Citing Amberdata’s compilation of data from Deribit, a large bitcoin options exchange, Galaxy’s Head of Research estimated Deribit options dealers’ gamma exposure at $15 million per 1% increase in BTC price from $71,000 through $85,000. In other words, bitcoin’s price is benefitting from a gamma squeeze. Before contextualizing this effect relative to other factors, however, it is critical to understand this mechanism of action without jargon. for every 1% move up between $71k and $85k, dealers need to hedge $15m. if we move up from $71k to $85k, dealers need to net buy $252m to hedge. there are a number of ways for dealers to hedge if we move higher, but buying spot is probably the cheapest#bitcoin #gamma pic.twitter.com/...