Not much of a reaction, melted through it, so this level is now likely to act as resistance. Discussing BTC price action further, he argued that “major” trendlines remained intact on BTC/USD, even given May’s dip to $23,800. …Read the full story
The bull market euphoria that carried prices to new highs throughout 2021 has given way to bear market doldrums for any Bitcoin buyer who made a purchase since Jan. Historical data shows that the metric has declined into the sub-0.5 zone during the late stages of previous bear markets, which has yet to occur during […]
The culmination will likely be United States inflation data, this itself a yardstick for the macroeconomic forces at world globally. A look at order book data reinforces the friction bulls are likely to face in the event of a continued breakout. “This contraction in M2 has been a result of Fed hikes and forward guidance […]
More and more people are investing in digital currency, and it is rapidly becoming a widely accepted payment method. Although altcoins are expanding their growth, BTC is the most-used payment method for companies and small merchants. First, we’re going to take a look at businesses that accept Bitcoin. Users could buy games and applications with […]
“The weekly chart on Bitcoin looks nothing short of horrific and so the trend continuation remains. “I am looking for another drop down to $24000 – $22000, but of course distribution takes time. Commenting on a chart of long-term holders’ Spent Output Profit Ratio , Edris drew comparisons to conditions that preceded generational bottoms in […]
This fact has been well documented, and there’s no denying that gold has offered some of the best wealth protection historically, but it doesn’t always maintain value. Bitcoin offers a more secure option for people in this situation because they can memorize a seed phrase and travel without fear of losing their funds. Gold will […]
Timmer proposed taking into account Bitcoin’s supply curve to produce a more conservative trajectory for price growth. “If accurate, It suggests still robust but less pie-in-the-sky upside than before. …Read the full story
“At the bottom, a typically impervious strong hand can be forced to sell because of uneconomical arrangements festering in their trading books. …Read the full story
Twenty-three agonizing days have passed since Bitcoin last closed above $32,000 and the 10% rally that took place on May 29 and 30 is currently evaporating as BTC price retraces toward $30,000. The correlation metric ranges from a negative 1, meaning select markets move in opposite directions, to positive 1, which reflects a perfect and […]
Bitcoin’s current 20% drop over the past four days has put the price at its lowest level in nine months and while these movements might seem extraordinary, quite a number of large listed companies and commodities faced a similar correction. Federal Reserve reverted its expansionary incentives and now aims to reduce its balance sheet by […]
Then, as now, Bitcoin was in the second year of its four-year halving cycle, having seen its first blow-off top at just over $1,000 in November 2013. After April’s performance, however, the odds of a comeback feel slim. The order book of May 8 shows a major bid wall in place at $33,000. “Historically $69.5M […]
Bitcoin has extended its decline during the weekend and is now on track for its sixth successive weekly loss, the first such occurrence since 2014. The BTC/Tether pair has a minor support at $34,322 but if bulls fail to defend this level, the decline could extend to $32,917. If the price turns down from this […]
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. On Wednesday, the United States Federal Open Market Committee voted to raise interest rates by 0.5%, marking its biggest upward adjustment in over two decades. Coinbase took an important step toward bridging the mainstream world and the […]
The total crypto market capitalization has been trading within a descending channel for 24 days and the $1.65 trillion support was retested on May 6. More recently, in the early hours of May 6, the OKX Tether premium flipped to -1% negative. Data indicates slightly higher demand from longs , but nothing that would force […]
Three months ago, around the start of February, was when BTC/USD had begun rising rapidly after putting in its $32,000 lows. “According to CryptoQuant data, the decline in the past two days may be dominated by short-term holders. …Read the full story
Liquidations remained fairly tame across cryptocurrencies, BTC accounting for $190 million over the 24 hours at the time of writing. …Read the full story
