• Someone moved 50 BTC mined in 2010.
  • The market is glued to $9,200 amid high uncertainty.

Bitcoin (BTC), the largest digital asset with the current market value of $169.9 billion, is hovering around $9,200 since the beginning of the week. BTC/USD touched the intraday high at $9,273 during early Asian hours and retreated to $9,220 by press time. The coin has stayed mostly unchanged both on a day-to-day basis and since the beginning of Wednesday amid a high sense of uncertainty.

Old Bitcoins on the move

An unknown Bitcoin holder moved Bitcoins mined in 2010 for the first time. According to the data, provided by Blockchain.com, someone moved 50 BTC mined on May 24, 2010, to a new address. At the time of writing the coins are still there, which means the user has no intention to send them to the mixers or split into small batches. As noted by the Telegram channel Goldfoundinshit, the sender might have wanted to check the reaction of the community. 

In May, 50 Bitcoins mined in February 2009 moved. The community members though that it was Satoshi, moving his coins. However, the in-depth analysis didn't confirm that hypothesis. 

BTC/USD: Technical picture

The intraday BTC charts reflect the high level of uncertainty on the market. Lots of spikes and dips, candles with long shadows, and lack of clear direction underline the sense of disappointment and indecision. The local support for BTC/USD is created by the lower line of the 1-hour Bollinger Band at $9,200. Once it is broken, the sell-off may be extended towards the lowest level of July 14 at $9,104 and $9,000. This psychological barrier coincides with the lower line of the recent consolidation range and hosts a lot of stop orders that may slow down the decline. Once this barrier is out of the way, the sell-off may continue towards weekly SMA50 at $8,700.

On the upside, strong resistance is created by a confluence of 1-hour SMA50, SMA100 and the middle line of the 1-hour Bollinger Band at $9,250. A sustainable move above this area will bring $9,345 (July 12 high) into focus. However, only a move of $9,400 is needed for the upside to gain traction. Once this happens, the upside momentum may increase and push the price towards $9,500 followed by $9,800.

BTC/USD 1-hour chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Breaking: Bitcoin breaks new yearly highs; the road to $15,000 is clear

Bitcoin (BTC) broke above the local resistance created by $13,250 and hit a new high of 2020 at $13,490. The pioneer digital asset is poised for further growth as the upside momentum gains traction amid little resistance from sellers.

More Bitcoin News

XRP looks poised for a breakout to $0.30

XRP is currently trading at $0.252 after successfully defending a critical support level at $0.247. In the past two weeks, the digital asset has been rejected from the upper boundary of the daily ascending triangle around ten times.

More Ripple News

Breaking: JPMorgan's digital currency, JPM Coin, is ready for commercial use

JPMorgan Chase announced that its digital currency, JPM Coin, had been used for commercial purposes this week. A large technology client used it to send cross-border payments.

More Cryptocurrencies News

The network’s utility increases, while TRX prepares for a massive price movement

TRON's weekly report is out and talks about the finalization of the TRC-20 shielded contract on the mainnet and a security test for the smart contract on TVM instructions to stake and unstake.

More Tron News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: Bitcoin goes up as some of the world's largest currencies go down

While investors are waiting for BTC to retest all-time highs and shoot to the moon, it is already there. In some countries, the pioneer digital asset surpassed the peak of 2017 and hit new historic highs in local currencies.

Read the weekly forecast

BTC

ETH

XRP