Bitcoin began another recovery trend over the weekend and has been on a bullish path since. This follows last week’s incredible bearish movement which saw the digital asset drop below the $26,000 mark for the first time in over a month. However, the bulls are beginning to pick up steam once more, but what…
Bitcoin (BTC) investors have been closely monitoring the cryptocurrency market in recent days due to Bitcoin’s significant drop in price. The market’s largest cryptocurrency has shown a downtrend in its price action and has lost its key support level at $27,200, which was previously noted by the 50-day moving average (MA). Despite the bearish trend,…
The last two days have been especially rocky for the Bitcoin price as it has fluctuated heavily between trying for a recovery and then crashing even further. As a result of this, the price of the digital asset has revisited the $26,000 level once more and the new bearish trend may point to more decline…
Bitcoin (BTC) and the U.S. Dollar Index (DXY) have been battling for supremacy in the financial world, with both assets vying for dominance in a zero-sum game. The recent volatility seen in the markets is a testament to the intensity of this battle. It is becoming increasingly clear that the outcome of this showdown will…
Bitcoin, the largest cryptocurrency by market capitalization, has shown significant weakness in today’s trading session after failing to continue on its instant price rally following yesterday’s release of the April CPI report at 4.9%. So far, the trading week has been negative for the alpha cryptocurrency as it is seen to decline further on its…
Bitcoin holders have been paying attention to the amount of BTC leaving crypto exchange platforms. Over the past week, the cryptocurrency’s liquidity has been moving, raising concerns about the stability of these venues and that marketmakers might be exiting the space. As the U.S. faces a banking crisis, crypto exchanges crumble, and uncertainty in the…
Bitcoin price may have resumed its bullish momentum, following a cooler than expected April 2023 CPI report. The Consumer Price Index, a key measure of inflation, fell to 4.9% – lower than the expected 5.0%. As a result, crypto prices are climbing. Bitcoin Price Reclaims $28,000 After April CPI Release The Bureau of Labor Statistics…
As Bitcoin became a more mainstream asset, its correlation with the stock market rose which meant it has been impacted by world events to a higher degree than it did before. This is evident with the asset’s reaction to the rising inflation and the Fed’s continuous hiking of interest rates. However, there seems to be…
Bitcoin (BTC), the largest cryptocurrency in the market, has been trading sideways since experiencing a drop of over 5% on Monday. Despite this decline, Bitcoin has found support at $27,200, preventing further drops that could potentially jeopardize the next bull run of the leading cryptocurrency. However, many investors wonder whether Bitcoin will show any signs…
Bitcoin, the world’s largest and most well-known cryptocurrency, has had a tumultuous past few days, and according to Mike McGlone, a senior macro strategist at Bloomberg Intelligence, the volatility in the BTC market could very well impact other risk assets. McGlone believes that BTC’s influence on the market has become contagious, and as a result,…