Bitcoin plunged back towards $9,000 despite showing signs of upside correction in the early Friday session.The latest price correction coincided with the Federal Reserve’s balance sheet contraction that strengthened the US dollar.S&P 500 remained closed on Friday for the Independence Day holiday.The past 24 hours saw Bitcoin breaking its short-term positive correlation with the S&P…
AT&T’s slogan is “More For Your Thing, That’s Our Thing.” Unless your thing is crypto, as yet another investor has learned the hard way. Which in that case, they ended up with $1.8 million less of their thing.The company is still being sued by Michael Terpin over $24 million in stolen crypto due to what…
Bitcoin is maintaining its interim support level near $9,100, but an analyst expects the price to break bearish towards $8,500.The trader forecasted the downside move days after Bitcoin established a second-quarter top near $10,500 on June 1.The cryptocurrency has since accurately moved as predicted, further raising the possibility of a breakdown ahead.Bitcoin may undergo an…
Bitcoin price can break above $10,000 even as it eyes a choppy price action in the weeks ahead.The upside bias takes its cues from the crypto’s on-chain data, including higher buying strength, declining capitulation sentiment, and rising transactional volume.Phi Deltalytics, an independent cryptocurrency analysis portal, sees Bitcoin hitting $11,700 in the coming sessions.Bitcoin market’s short-term…
Volume on Ethereum blockchain is rising faster than Bitcoin for the last three months, according to data fetched by Santiment.The second-largest cryptocurrency is leading a pack of top 100 altcoins with better on-chain metrics than that of Bitcoin.Observers note that a swift rise in altcoin volumes forms a local price top.Ethereum, the world’s second-largest cryptocurrency…
Bitcoin has formed a “Death Cross” pattern on its daily chart as price slips ahead of the New York opening bell.The cryptocurrency’s 50-day simple moving average today closed above its 20-day exponential moving average.The pattern surfaced as the U.S. futures signaled a negative session ahead. Bitcoin and the S&P 500 have shown a positive correlation.Bitcoin’s…
Bitcoin is at risk of plunging towards $9,000 on a negative outlook for the S&P 500 index.Wall Street firm BTIG LLC has warned that the U.S. benchmark could correct towards the lower end of its current trading range.The downside move in the index could lead investors to offset their losses by selling Bitcoin and other…
Whale manipulation did not crash the price in March 2020, asserts Stock-to-Flow creator PlanB.The analyst claimed that the cryptocurrency’s growing correlation with the U.S. benchmark S&P 500 led it lower.He further noted that Bitcoin’s wild downside price actions in November 2019 and December 2019 appeared in the wake of the U.S.-China trade dispute and the…
Bitcoin has come closer to forming a dreaded Wall Street chart pattern: the Death Cross.The bearish technical indicator materializes when an asset’s long-term moving average crosses above its short-term moving average.Its occurrence on Bitcoin daily chart in March 2020 led to a 55 percent price crash.A “death cross” pattern is looking to materialize on Bitcoin’s…
Another week, another round of Crypto Tidbits.It’s been a relatively mild week for the Bitcoin market, much unlike previous ones. The cryptocurrency started the week around $9,300 and ended the week right around that level, with BTC changing hands between $8,900 and $9,550 for the past seven days.Each attempt at breaking out of the short-term range…