Market Analysis
Bitcoin (BTC) showed strength on Oct. 4 and 5, posting a 5% gain on Oct. 5 and breaking through the $20,000 resistance. The move liquidated $75 million worth of leverage short (bear) positions and it led some traders to predict a potential rally to $28,000. $BTC #Bitcoin Shared this descending channel 2 days ago.$BTC has
On Oct. 4 and 5, Bitcoin (BTC) took another step through the $20,000 mark, bringing the price above a long-term descending trendline that stretches all the way back to April 22 or Nov. 15, depending on one’s style of technical analysis. Some traders might be feeling a bit celebratory now that the price trades outside
Bitcoin (BTC) saw its first trip above $20,000 on Oct. 4 as traders expected familiar resistance to cap gains. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Multi-week dollar lows fuel Bitcoin bulls Data from Cointelegraph Markets Pro and TradingView showed BTC/United States dollar climbing prior to the Wall Street open, up over 5% in 24
It is becoming increasingly challenging to support a bullish short-term view for cryptocurrencies as the total crypto market capitalization has been below $1.4 trillion for the past 146 days. Furthermore, a descending channel initiated in late July has limited the upside after two strong rejections. Total crypto market cap, USD. Source: TradingView The 1% weekly
Bitcoin (BTC) starts a new week in a precarious place as global macro instability dictates the mood. After sealing a weekly close just inches above $19,000, the largest cryptocurrency still lacks direction as nerves heighten over the resilience of the global financial system. Last week proved a testing time for risk asset investors, with gloomy
Bitcoin (BTC) miners remain under stress at current price levels as data shows large outflows from miner wallets returning. According to on-chain analytics firm Glassnode, monthly miner sales totaled up to around 8,000 BTC in September. Bitcoin miners see heavy sales In contrast to the June lows, when BTC/USD hit its current multi-year floor of
Bitcoin (BTC) swiftly climbed above $20,000 after the Sept. 30 Wall Street open as end-of-month volatility began. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin volatility back for monthly close Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining 3% in a single hourly candle to hit local highs of $20,171 on Bitstamp. The move
On Sept. 30, NFT Steez, a bi-weekly Twitter Spaces hosted by Alyssa Expósito and Ray Salmond, met with Mashiat Mutmainnah to discuss how regenerative finance (ReFi) can provide more accessibility and inclusivity to blockchain technology. As a “mission-driven movement,” Mutmainnah explains that ReFi enables users to redefine their relationship with the current financial system and
For bulls, Bitcoin’s (BTC) daily price action leaves a lot to be desired, and at the moment, there are few signs of an imminent turnaround. Following the trend of the past six or more months, the current factors continue to place pressure on BTC price: Persistent concerns of potential stringent crypto regulation. United States Federal
Bitcoin (BTC) returned to intraday resistance on Sep. 30 as analysis predicted that $20,000 could break before a new comedown. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Crunch time for $20,000 Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it circled $19,600 at the time of writing. The pair had seen a bout
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