Bitcoin has seen weak price action since reaching the highs of $12,500 in late August. At the start of the month, the leading cryptocurrency slipped from the year-to-date highs to a low of $9,800 as it corrected in tandem with legacy markets. Fortunately for bulls, analysis by a number of traders has indicated that BTC…
Bitcoin is tumbling lower after it was revealed that the U.S. Commodities and Futures Trading Commission (CFTC) is charging BitMEX. BitMEX is a leading crypto derivatives platform based in the Seychelles. The U.S. regulatory agency, which focuses on derivatives, was rumored to be investigating the company. In 2019, Bloomberg came out with a report suggesting…
Bitcoin underwent multiple rejections in the $11,000 region over recent weeks, suggesting the asset remains rangebound. Fortunately for bulls, there are on-chain trends suggesting that the cryptocurrency is in a bullish state. There are also underlying fundamentals like a commitment to inflation by the Federal Reserve that could spur further BTC purchasing. Related Reading: MicroStrategy’s Stock…
Ever since February, Bitcoin’s price action has been largely dependent on that of legacy markets. Markets like the S&P 500, the U.S. dollar, and gold have strongly swung the directionality of BTC and the rest of the cryptocurrency market. The strong correlations that have formed have signaled to some investors that Bitcoin’s premise of being…
It’s been quite a boring month for Bitcoin. After plunging around $2,000 at the start of the month, the leading cryptocurrency has entered a tight consolidation range between $10,000 and $11,000, bouncing back and forth between those pivotal technical levels. As of this article’s writing, BTC trades for $10,700, at levels that some analysts have…
The biggest debate in the crypto space over recent years has been about if Bitcoin is a medium of exchange or not. Prominent individuals that have commented on the matter include Jack Dorsey, the chief executive of Twitter and Square, and many commentators and investors online. Dorsey, for one, thinks that Bitcoin should be used…
Bitcoin has bounced over 10% from the lows set two weeks ago at around $9,800. The cryptocurrency, though, still has a crucial level to move above to confirm that a full-blown bullish reversal is in the works. Related Reading: Ethereum Transaction Fees Surge to All-Time Highs After Uniswap Launch Bitcoin Needs to Surmount This Pivotal…
Bitcoin is pushing higher as it has normally done over past weekends. The price of the leading cryptocurrency currently is above $11,000 — a pivotal resistance level for BTC. While this is positive for the cryptocurrency in the short term, analysts are still fearful that Bitcoin is subject to a steep retracement. One analyst commented…
Bitcoin has pushed above $11,000 after consolidating under that pivotal resistance for a number of days. The leading cryptocurrency now trades for $11,070, pushing slightly higher after legacy markets closed on Friday evening. While Bitcoin retaking $11,000 is a bullish sign, a historically accurate trader thinks that a bearish reversal here is likely. The trader…
Bitcoin faced a strong rejection at the pivotal $12,000 level after rallying to that resistance earlier this month. After failing to hold above $12,000, the coin plunged by just over $2,000 in the days that followed. At the lows, BTC traded for $9,800 — $2,200 below the local highs and $2,700 below the year-to-date highs…