Bitcoin Marks Record Streak of Green Candles: What's Happening?

user avatar

by Giorgi Kostiuk

2 years ago

Bitcoin, the top cryptocurrency by market capitalization, recently achieved a significant milestone by posting 13 consecutive green hourly candles. This marks the longest streak since January 1, 2017.

Historic Green Candle Streak

According to data provided by Vetle Lunde of K33 Research, Bitcoin recorded 13 green hourly candles in a row. Such a long streak has not been seen since June 2017. Blockstream CEO Adam Back suggested this could be tied to time-weighted average price (TWAP) buying by large or institutional players.

Dip after the Rise

Following the impressive rise, Bitcoin dipped nearly 3% within the next three hours, but it soon recovered most of those losses. Earlier this Friday, U.S. stocks dropped following a strong jobs report that reduced the likelihood of rate cuts, impacting Bitcoin's price.

Impact on the Market and Traders

The U.S. Federal Reserve recently adopted a more hawkish stance after implementing several rate cuts, which has been cited as the main reason behind Bitcoin's recent underperformance. Despite this, the asset continues to trade at $94,515 on the Bitstamp exchange.

Bitcoin's recent movements highlight the significant influence of macroeconomic factors on the cryptocurrency market. Institutional buying may indicate long-term confidence in the digital asset.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Morgan Stanley's Bitcoin Accumulation Boosts Market Confidence

chest

Morgan Stanley has been actively accumulating Bitcoin through the ETF route, amassing approximately 622 million worth of the cryptocurrency this month.

user avatarRajesh Kumar

Microsoft Opens Public Feedback for AI Code of Conduct

chest

Microsoft is inviting public feedback on its draft Code of Conduct for AI models until late October, aiming to refine guidelines before finalizing them for 2027.

user avatarLuis Flores

Microsoft AI Releases Draft Code of Conduct for AI Models

chest

Microsoft AI has published a draft Code of Conduct outlining the expected behavior and limitations of its AI models, inviting public feedback for six weeks.

user avatarMiguel Rodriguez

Clichmont's Infrastructure Plan: Control Through GPUs.

chest

Clichmont emphasizes the importance of energy and infrastructure in AI compute, stating that owning data centers is more strategic than renting GPUs.

user avatarArif Mukhtar

Clichmont's Unique Approach to AI Infrastructure

chest

Clichmont CEO Alexis Cathalifaud discusses the company's strategy of owning data centers rather than renting GPU capacity.

user avatarMaria Gutierrez

MEXC Launches Campaigns to Enhance Trading Experience

chest

MEXC launched three flagship campaigns in August 2026 to enhance trading participation, attracting over 174,000 registrations with a total prize pool of 1 million USDT.

user avatarDavid Robinson

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.