Cardano USD (ADA-USD) On Bullish Momentum: 17.7% Up In The Last 12 Hours
Cardano USD (ADA-USD) is currently on bullish momentum. At 19:03 EST on Tuesday, 16 March, Cardano USD (ADA-USD) is at $1.22 and up by 17.7% in the last 12 hours.
Cardano USD (ADA-USD) Range
Over the last six hours, Cardano USD (ADA-USD)’s higher value was $1.23 and the lower value was $1.20.
Over the last twelve hours, Cardano USD (ADA-USD)’s higher value was $1.23 and the lower value was $1.03.
In relation to Cardano USD (ADA-USD)’s daily highs and lows, it’s 20.554% up from its trailing 24-hour low of $1.01 and 1.008% down from its trailing 24-hour high of $1.23.
Concerning Cardano USD (ADA-USD)’s yearly highs and lows, it’s 4952.282% up from its 52-week low and 17.546% down from its 52-week high.
Cardano USD (ADA-USD)’s last day, last week, and last month’s average volatility was 2.49%, 4.88%, and 5.01%, respectively.
Cardano USD (ADA-USD)’s last day, last week, and last month’s high and low average amplitude percentage was 6.08%, 8.18%, and 13.43%, respectively.
News about Bitcoin
According to Business Insider on Sunday, 14 March, “Canada’s Purpose Bitcoin ETF, the first to launch, had 913 million Canadian dollars ($731 million) under management on 11 March.”, “Guggenheim disclosed in an SEC filing that its Macro Opportunities Fund held the right to invest up to 10% of its net asset value in Grayscale Bitcoin Trust.”
Bitcoin dips from record after scaling $61,000 aided by stimulus. According to Bloomberg Quint on Monday, 15 March, “For instance, the correlation coefficient between Bitcoin and an equal-weighted basket of five stocks which have announced investments in the digital currency — Tesla Inc., MicroStrategy Inc., Square Inc., Meitu Inc. and Aker ASA — has surged to an average of 0.72 this year from 0.26 in 2020.”, “Crypto has seen “some good flow, with traders front running U.S. stimulus checks,” Chris Weston, head of research at Pepperstone Group Ltd., wrote in a note, adding Bitcoin needs to stay above the previous high of just over $58,000 to bolster confidence in a “new bull leg.”
According to Business Insider on Monday, 15 March, “If doubt about monetary policy, unchecked money printing and continually rising inflation continues to worry both retail and institutional investors, then they will seek alternatives that provide safety, which Bitcoin provides in a unique digital format,” Nazarov said.”
Retail Bitcoin traders rival wall street buyers as mania builds. According to Bloomberg Quint on Monday, 15 March, “Meanwhile, institutions have bought about 173,000 of the world’s largest cryptocurrency over that time frame — as gathered by Bitcoin futures, fund flows and company announcements — after buying nearly 307,000 in the last quarter of 2020.”, “While far from bulletproof, the stats suggest that flows into Bitcoin are becoming more balanced after institutions dominated late last year. “
Buy-the-dip signal? ethereum sees surprise gain vs. Bitcoin despite BTC drop. According to Coin Telegraph on Monday, 15 March, “It could be the case that altcoins are attempting to stabilize against BTC while Bitcoin is paring some of its massive weekend gains. “
Can Bitcoin whale deposits to exchanges actually predict BTC price?. According to Coin Telegraph on Monday, 15 March, “According to Philip Swift, an analyst and co-founder of Decentrader:”It can be dangerous for traders to put too much weight on the importance of transaction movements between wallets on the Bitcoin blockchain. “, “Well-known pseudonymous trader Cantering Clarkexplained:”Fair to say that on-chain data and shuffling of Bitcoin from wallets to exchanges and the other way around is an abused ploy now. “
Bullish uptrend intact as Bitcoin futures open interest hits $22.5b. According to Coin Telegraph on Monday, 15 March, “The above chart shows the Bitcoin futures basis peaking at 60%, which is usually unsustainable. “, “After peaking at $58,300 on Feb. 21, Bitcoin faced a 26% correction over the following week. “
Bitcoin now the prize for this sailing event. According to Coin Telegraph on Monday, 15 March, “The Liberty Bitcoin Cup is the prime cup for the Next Generation of World Class Sailors, competing on the Next Generation of High Tech Class Foil Sailing boats,” says the Liberty Bitcoin Cup’s website. “, “The Liberty Bitcoin Cup hopes to lower the barrier of entry for young people interested in foil sailing competitions, its website explains. “
What’s India’s beef with Bitcoin, really?. According to Bloomberg Quint on Monday, 15 March, “If someone is using a VPN service to access the internet,and not buying or selling Bitcoin using an Indian bank account (but earning and spendingit peer to peer), the prohibitionwon’t be enforceable.”, “Nobody is asking New Delhito make Bitcoin legal tender or accept tax payments in it. “
Bitcoin bulls take a breather while BTC price slips below $55,000. According to Coin Telegraph on Tuesday, 16 March, “Data from Cointelegraph Markets and TradingView shows that Bitcoin price dropped as low as $54,600 and at the time of writing, buyers have not stepped in to arrest the decline. “, “Despite Monday’s decline, traders are optimistic that BTC will see a rapid recovery and a recent survey estimates that up to 10% of the $400 billion in pandemic relief for U.S. citizcould be used to purchase Bitcoin and stocks.”
Long-term investors are hodling, with 95% of Bitcoin trades involving ‘young coins’. According to Coin Telegraph on Tuesday, 16 March, “According to research by on-chain analytics provider, Glassnode, 95% of the Bitcoin changing hands last was last moved less than three months ago on the blockchain.”, “Glassnode defines “Long Term Holders,” or LTH, as wallets that have held their Bitcoin for more than 155 days, while “Short Term Holders,” or STH, are described as wallets that move BTC on-chain within 155 days or receiving coins.”
The ‘inhospitable to capitalism’ US can target those ditching dollar for Bitcoin — ray dalio. According to Coin Telegraph on Tuesday, 16 March, “Responding, however, MicroStrategy CEO Michael Saylor said that Bitcoin is the answer.”, “The United States and other countries could “impose prohibitions” on Bitcoin (BTC) as part of “shocking” tax changes, investor Ray Dalio has warned.”
Trump’s last-minute Bitcoin rule hits the wrong mark. According to Bloomberg Quint on Tuesday, 16 March, “In the waning days of the Trump administration, the Financial Crimes Enforcement Network proposed a rule “aimed at closing anti-money laundering regulatory gaps for convertible virtual currency,” held in “unhosted wallets” – that is, cryptocurrencies such as Bitcoin held outside a regulated financial institution. “, “In other words, the economic value of crypto will not be harmed, only the price it commands in dollars.(Full disclosure: I own Bitcoin and other cryptocurrencies.)”
Bitcoin is now worth more than Visa and Mastercard combined. According to Coin Telegraph on Tuesday, 16 March, “Its ascent, others have noted, is impressive – Bitcoin went from zero to $1 trillion in network value 3.6 times faster than Microsoft, for example.”, “That level was previously tipped by analysts as a likely consolidation zone, something that remains the case after Monday’s dip took Bitcoin back below its previous all-time high set in late February.”
Bulls favored ahead of record $6.1b Bitcoin options expiry on March 26. According to Coin Telegraph on Tuesday, 16 March, “Over the past two months, the open interest on Bitcoin options increased by 60% to reach $13.5 billion as the BTC price rose to a new all-time high. “
Bitcoin whale clusters pinpoint 3 levels in the short term to keep the bull trend intact. According to Coin Telegraph on Tuesday, 16 March, “Considering that the futures market reset, as long as Bitcoin comfortably remains above $55,406, the probability of a major correction decreases substantially.”, “Hence, Bitcoin has to remain above it in the short term to avoid a larger drop that may lead to cascading liquidations.”
Altcoins spike to new highs while Bitcoin bulls aim to recapture $57k. According to Coin Telegraph on Tuesday, 16 March, “Despite the drawdown in both Bitcoin and Ether price, the overall outlook for the cryptocurrency market is bullish as signs of steady mainstream adoption emerge on a daily basis.”, “While Bitcoin price could continue to meet overhead resistance in the $56,000 to $58,000 range, a strong bullish case still exists as a potential $6.1 billion worth of Bitcoin options are set to expire on March 26. “