Bitcoin has started a recent downtrend that is threatening its position above the coveted $40,000 level. This is presumed to be caused by major sell-offs in the market. However, exchange metrics continue to show that this is not entirely the case. Exchange balances have been plummeting for the past year pointing towards massive accumulation trends…
Bitcoin price continues to move sideways in an increasingly tightening trading range to the dismay of cryptocurrency investors. The bearish sentiment across the space is among the most prominent in years — potentially more bearish than the 2018 bear market. Here is why the recent correction has felt far more painful than even Black Thursday,…
Historical trend of the 200-day and 600-day MAs may suggest Bitcoin could observe another big drop in the near future. Current Bitcoin Pattern Has Historically Lead To A Big Drop In The Price As pointed out by an analyst in a CryptoQuant post, the current Bitcoin price looks to be squeezed between the 200-day and…
Bitcoin remains rangebound in the high $30,000 to low $40,000 areas. The first crypto by market cap has seen its volatility reduce as several factors contribute to the slowdown across the sector. Related Reading | TA: Bitcoin Trims Gains, Support Turned Resistance At $41K At the time of writing, Bitcoin (BTC) trades at $40,500 with a…
Cryptocurrency markets were sluggish Friday after Federal Reserve Chairman Jerome Powell stated that interest rate hikes should be made “more quickly.” Powell also indicated that a rate hike of 0.5 percentage point was “on the table” for next month. James Bullard, President of the St. Louis Federal Reserve Bank, said Tuesday that he expects interest…
Bitcoin extended gains above $42,500 against the US Dollar. BTC struggled near $43,000 and started a sharp downside correction. Bitcoin started another decline after it failed to clear the $43,000 resistance zone. The price is now trading below $41,000 and the 100 hourly simple moving average. There was a break below a major bullish trend…
The current bitcoin trend can be described as “boring” by a lot of folks in the market. However, it is good to look at what this would mean in a space like the crypto industry that is used to fast-moving prices and quick-changing momentum. While the word “boring” may sound bad to investors who are…
Data shows Bitcoin long-term holders hold significantly more supply in loss right now compared to May-July of 2021. 15% Of Bitcoin Long-Term Holder Supply Is In Loss Right Now As per the latest weekly report from Glassnode, around 30% of the total BTC supply is being held at a loss at the moment. The “long-term…
Bitcoin climbed further above the $42,000 level against the US Dollar. BTC is showing positive signs and might rally further above $42,200. Bitcoin remained well supported above the $41,000 and $41,100 levels. The price is now trading above $41,500 and the 100 hourly simple moving average. There is a key bullish trend line forming with…
Bitcoin halvings are important events that have taken place since the digital asset was first launched in 2009. Since then, there have been a total of three halvings that have seen block reward cut down by half each time. The next bitcoin halving will happen in 2024 which means that the market is halfway there.…