As usual, we look at the live Bitcoin (BTC) price and the prices of the top 25 crypto. Then we analyze how short positions are rising to record levels and why that is beneficial. Next, we analyze what factors will affect the BTC price in the coming time and announce a change at WANT. Finally, we also look at Bitcoin (BTC) price key quotes in the short term.
We start of course with the live Bitcoin (BTC) price and the prices of the top 25 crypto.
Live bitcoin (BTC) price and prices top 25 crypto flat
At the time of writing, the live Bitcoin (BTC) price is quoting EUR 20,350.55 ($20,363.52). This is 0.29% lower than during our Bitcoin update yesterday.
The prices of most other coins in the crypto top 25 are also currently flat. The negative outlier is OKB (OKB), which is losing 6.65%. The positive exception is Near Protocol (NEAR) with + 5.77%. On the Tradeincrypto.com site you can analyze all live crypto prices 24 hours a day.
Bitcoin (Image: Pexels / Karolina Grabowska)
Bitcoin short positions rise to record levels, what does this mean?
Data from Santiment shows that FED Chairman Powell’s speech last Friday did not miss its mark. In response to the impending doom speech, a record number of BTC investors have taken short positions. This marks the highest number of shorts since May.
As we saw earlier, such a historically low funding rate led to a so-called short squeeze and bullish recovery in accordance with historical analyses. With that, this signal does not have to be bad. However, the question is how likely it is that we will see another quick turn of the market this time.
These 3 factors are going to influence BTC prices this year, WANT changes
If we analyze the market for the longer term, there are 3 factors that will influence the Bitcoin (BTC) price development in 2022. These are:
Macroeconomic factors: due to the influx of institutional investors, macroeconomic factors that affect money markets now also have a greater influence on crypto prices. We can see this for example in the correlation with the stock market. Major macroeconomic factors at play this year include the situation in Russia and the development of the still prevailing Corona crisis. Price increases also provide lasting influence, but with that comes a second factor.
Interest rate hikes: there is currently high inflation. More and more central banks, of which the US Fed is the most important, are raising their interest rates. Last Friday’s speech by FED Chairman Powell made it clear that there is no end in sight to these interest rate increases. This makes markets more volatile (moveable), but also bearish as investors look for investments with less risk.
Finally, we have to take into account unforeseen external events, the so-called ‘black swan events’. These unforeseen events can significantly affect prices. As a possible black swan, one sees, for example, the crypto-regulation that is being developed.
These three factors seem to be standing in the way of a quick recovery of the Bitcoin price. This has implications for the market, but also for us.
Coins (Image: Pexels / Worldspectrum)
WANT changes, but crypton news stays
As of tomorrow (September 1), we are in fact going to stop providing daily Bitcoin and crypto updates. Due to recent developments, there is actually too little news to remain relevant on a daily basis.
Instead, we will continue to offer you 2x weekly insights into developments in the crypto market with the help of up-to-date overviews. Of course, you can also continue to consult live Bitcoin and crypto prices 24/7 with our colleagues at Tradeincrypto.com. Of course, we’ll see if we see enough opportunity in the future to come back daily.
These are the Bitcoin (BTC) price key quotes in the short term
Right now we see that the Bitcoin (BTC) price is fighting with the $20,000 price. This is the key price in the short term. If the price gets below this, a further price drop to $18,500.00 or $16,000.00 in a week is lurking.
As we saw yesterday, there is some room for price appreciation but there are already several strong resistances from $20,400.00.
Crypto (Image: Pexels / Karolina Grabowska)
Want to stay up to date with the latest stock price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. So it could be an exciting afternoon.
Note: We never give financial advice, so you can’t interpret our contributions that way either. Always do your own research and decide rationally if, when, what and how much you want to invest in.
