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"Bitcoin stabilizes at $26.5K amidst crucial Fed inflation week"
cryptocurrency2 years ago

"Bitcoin stabilizes at $26.5K amidst crucial Fed inflation week"

Bitcoin's price settled at $26,500 as the market braced for the upcoming Federal Open Market Committee (FOMC) meeting. BTC experienced a relatively calm weekend after reaching new September highs earlier in the week. Traders observed bid liquidity defending the $26,500 level, while others anticipated a potential dip to $26,100 or a bounce back to $26,600. The FOMC meeting on September 20 is expected to keep benchmark interest rates unchanged, with Bitcoin's reaction to macroeconomic data becoming less volatile in recent times.

via Cointelegraph|
#bitcoin#btcusd#crypto
Bitcoin's Price Surge Continues Amid ETF Filings and Volatility.
cryptocurrency2 years ago

Bitcoin's Price Surge Continues Amid ETF Filings and Volatility.

Bitcoin's price surge may be followed by a dip of around $2,000, with traders looking to "buy the dip" and enter long positions. Analysts suggest $28,000 as a good spot for longing, while others have more modest targets of $32,000. On-chain analytics firm Glassnode argues that Bitcoin's recent volatility is no exception to the norm, with historically tight trading ranges preceding large, volatile moves in either direction.

via Cointelegraph|
#bitcoin#btcusd#cryptocurrency
Bitcoin Surges Past $30K Amid Growing Interest from Traditional Finance and ETF Filings.
cryptocurrency2 years ago

Bitcoin Surges Past $30K Amid Growing Interest from Traditional Finance and ETF Filings.

Bitcoin (BTC) reached $30,000 for the first time since April, erasing weeks of downside and adding over 20% versus local lows below $24,800 seen on June 15. The surge was attributed to various announcements of legacy finance applying to launch a Bitcoin exchange-traded fund (ETF). On-chain monitoring resource Material Indicators focused on $30,000 as an important level to overcome, while others turned their attention to what they considered more organic BTC price action compared to recent local highs.

via Cointelegraph|
#bitcoin#btcusd#cryptocurrency
Bitcoin's Price Hovers Above $26K Amidst Market Volatility.
cryptocurrency2 years ago

Bitcoin's Price Hovers Above $26K Amidst Market Volatility.

Bitcoin's price remains stable at around $26,000, with traders waiting for new cues on the direction of the largest cryptocurrency. The Grayscale Bitcoin Trust (GBTC) has begun a fresh attempt at narrowing its heavy discount versus the BTC spot price, with the premium decreasing to -36.6% as of June 17. BlackRock has filed for a Bitcoin spot exchange-traded fund (ETF), while rumors suggest Fidelity Investments may follow. The Federal Reserve is among the macro catalysts for crypto markets this week, with Chair Jerome Powell due to testify before Congress over two days from June 21.

via Cointelegraph|
#bitcoin#blackrock#btcusd
Bitcoin's Price Struggles Below $27K Amid Market Volatility and Inflation Fears.
cryptocurrency2 years ago

Bitcoin's Price Struggles Below $27K Amid Market Volatility and Inflation Fears.

Bitcoin (BTC) hit lows of $26,519 on Bitstamp after the daily close, with little signs of a trend change as a stalemate between bulls and bears continued to produce little volatility. Popular trader Crypto Ed considered the potential for upside topping out at $27,500, while fellow trader Crypto Tony urged caution until $27,500 returned. Financial commentator Tedtalksmacro flagged favorable macro conditions for Bitcoin to move, while popular trader Moustache was equally upbeat about a Bitcoin copycat move based on bullish signals from the S&P 500.

via Cointelegraph|
#bitcoin#btcusd#crypto-ed
Bitcoin's Price Volatility Continues Amid Economic Uncertainty.
cryptocurrency2 years ago

Bitcoin's Price Volatility Continues Amid Economic Uncertainty.

Bitcoin's support level of $27,000 is at risk of breaking down, with traders waiting for new lows. BTC/USD was trading near $26,800 at the time of writing, with an overall lack of liquidity causing the largest-volume traders to reduce activity. While the long-term outlook is bullish, trading group Stockmoney Lizards offered a potential downside target of $25,000, with the 25-week simple moving average presented as a possible support line. The current trading range, featuring as a key support and resistance zone from 2021 onward, showed no signs of relinquishing control.

via Cointelegraph|
#bitcoin#btcusd#cryptocurrency
Bitcoin's Price Target Holds Strong Amidst Market Volatility.
cryptocurrency2 years ago

Bitcoin's Price Target Holds Strong Amidst Market Volatility.

Bitcoin's strength is showing signs of continuation higher, according to Michaël van de Poppe, after key trend lines are preserved. BTC/USD reached $27,666 on Bitstamp, and the outlook is good, with the holding of the 200 MA and EMA. The state of the BTC/USD Binance order book shows that volatility is thus far absent. Meanwhile, attention continues to focus on US dollar strength after a week of solid gains, with crypto market strength versus a comedown in the US Dollar Index (DXY).

via Cointelegraph|
#bitcoin#btcusd#cryptocurrency
Bitcoin Reaches $27K Amid Positive Market Indicators
cryptocurrency2 years ago

Bitcoin Reaches $27K Amid Positive Market Indicators

Bitcoin is fighting to maintain its bull trend after closing the weekly candle just below $27,000. While the market is acting within a crucial zone, a relatively calm week of macro triggers means less chance of volatility from external sources. The upcoming difficulty adjustment is expected to take it to yet another all-time high, and the case could be made for upside continuation. Meanwhile, the Federal Reserve is set to deliver speeches this week, and Bitcoin network difficulty is due to resume all-time highs. Sentiment has seen a reset in recent days, with the Crypto Fear & Greed Index showing neutral market sentiment.

via Cointelegraph|
#bitcoin#btcusd#cryptocurrency
Bitcoin Rebounds from 2-Month Low, Eyes New All-Time High
cryptocurrency2 years ago

Bitcoin Rebounds from 2-Month Low, Eyes New All-Time High

Bitcoin (BTC) briefly dipped to $25,800 on Bitstamp before rebounding and seeking to pass $27,000 on May 13. Traders are split over the likely course of events to come, with some stating that BTC price must retain $26,500, while others suggest that the potential long flip level is higher at $27,300. However, monitoring resource Material Indicators remains far from optimistic, with a lack of bid liquidity forming a major point of concern and the largest cohorts of whales abstaining from the market. The 200-week moving average remains a key line in the sand when it comes to the bullish thesis going forward.

via Cointelegraph|
#bitcoin#btcusd#cryptocurrency
Bitcoin's Price Dips Below $27K Despite Bullish Trend Lines and CPI Inflation Data.
cryptocurrency2 years ago

Bitcoin's Price Dips Below $27K Despite Bullish Trend Lines and CPI Inflation Data.

Bitcoin's price risks a further loss of support as it heads towards $27,000, despite bullish cues from US macro data. Market participants continue to prepare downside targets, with many focusing on the area around $25,000. However, trader and analyst Moustache remains optimistic, focusing on longer-term price trends, as two moving averages, the 20-week and 200-week, are about to stage a form of "golden cross." Meanwhile, US Producer Price Index (PPI) and unemployment data gave crypto investors cause for cautious celebration, with the odds on for interest rates to stop rising in June.

via Cointelegraph|
#bitcoin#btcusd#bullish-cross
Bitcoin price faces sub-$25K dip and correction warning from traders.
cryptocurrency2 years ago

Bitcoin price faces sub-$25K dip and correction warning from traders.

Bitcoin (BTC) is hovering below $28,000 as traders await macroeconomic data releases, with some predicting a potential dip below $25,000. While some traders hope for volatility following the United States Consumer Price Index (CPI) print for April, others predict bearish moves, with Game of Trades suggesting a potential breakdown with an implied target near the $24,000 region. On-chain analytics platform CryptoQuant suggests realized price clusters around $25,600 as potential support.

via Cointelegraph|
#bitcoin#btcusd#cryptocurrency
Bitcoin's May Highs and Predictions for Future Growth.
cryptocurrency2 years ago

Bitcoin's May Highs and Predictions for Future Growth.

Bitcoin (BTC) reached a new May high of $29,529 on Bitstamp, with traders eyeing a potential breakout above $30,000. The recent US banking crisis, which has impacted several regional banks, has caused market jitters and shaped observer sentiment. The Federal Reserve's recent interest rate hike has led to market expectations predicting an end to the hiking cycle. Traders are optimistic about BTC's upside continuation, with some setting more conservative levels to return as support.

via Cointelegraph|
#bitcoin#btcusd#cryptocurrency
Bitcoin's Future Uncertain as Price Drops and Speculators Profit.
cryptocurrency2 years ago

Bitcoin's Future Uncertain as Price Drops and Speculators Profit.

Glassnode's latest investigation into on-chain activity reveals that short-term holders (STHs) are responsible for the recent speculative behavior in Bitcoin, including profit-taking. The market value to realized value (MVRV) metric shows that STH-MVRV is falling towards its equilibrium point of 1.0, where the spot price matches the cost basis. For this to complete, BTC/USD would need to fall to $24,400. Long-term holders (LTHs) have also been selling into rallies, increasing the overall share of BTC classed as "young supply." Overall, LTHs remain in control of the supply, with net new entries "relatively soft."

via Cointelegraph|
#bitcoin#btcusd#cryptocurrency
Bitcoin's Price Volatility Continues Amidst Regulatory Pressure and Predictions of Explosive Upside Move.
cryptocurrency2 years ago

Bitcoin's Price Volatility Continues Amidst Regulatory Pressure and Predictions of Explosive Upside Move.

Bitcoin's price fell below $27,300 on Bitstamp, with traders eyeing a potential reversal zone at $26,500 and support at $25,000 should current support break down. However, some traders remain bullish, eyeing a potential copycat move of price action from February. Meanwhile, hodlers are in two minds over whether to sell into strength, even during Bitcoin's run to $31,000, with the area at $28,000 and up representing a major breakeven point across the hodler spectrum.

via Cointelegraph|
#bitcoin#btcusd#cryptocurrency
Bitcoin's price volatility continues amidst economic data and market fluctuations.
cryptocurrency2 years ago

Bitcoin's price volatility continues amidst economic data and market fluctuations.

Bitcoin's price dipped to new 10-day lows at $28,360, with eyes on the $28,000 support level to hold in the event of continued downside. However, Binance order book data warns that even this may be "rugged." Spot gold became the main risk asset beneficiary, climbing back above $2,000 on the day. Long liquidations took a breather on April 20 after the largest tally of 2023 on April 19, with cross-crypto long liquidations totaling $34 million.

via Cointelegraph|
#binance#bitcoin#btcusd