Tag: BTC price

Bitcoin will see ‘long bear market’ says trader with BTC price stuck at $19K
Bitcoin

Bitcoin will see ‘long bear market’ says trader with BTC price stuck at $19K

Bitcoin (BTC) failed to reclaim recent losses into July 2 as traders prepared for stagnant price action to continue.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView"Downtrend acceleration" still in forceData from Cointelegraph Markets Pro and TradingView tracked a limp BTC/USD as it chopped around the $19,000 mark into the weekend.The Wall Street trading week had finished without surprises, with United States equities practically stagnant — providing little impetus for crypto volatility. The U.S. dollar index, or DXY, fresh from a retest of twenty-year highs, ran out of steam to circle 105 points.U.S. dollar index (DXY) 1-hour candle chart. Source: TradingViewOrder book data from largest global exchange Binance showed BTC/USD caught between buy and sell liquidity close to spot p...
Bitcoin nears worst monthly losses since 2011 with BTC price at $19K
Bitcoin

Bitcoin nears worst monthly losses since 2011 with BTC price at $19K

Bitcoin (BTC) drifted further downhill into the June 30 Wall Street open as United States equities opened with a whimper.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewU.S. dollar returns to multi-decade highsData from Cointelegraph Markets Pro and TradingView followed BTC/USD as it abandoned $19,000 to hit its lowest in over ten days.Bulls failed to preserve either $20,000 or $19,000 at the hands of limp U.S. stock market moves, the S&P 500 and Nasdaq Composite Index down 1.8% and 2.6%, respectively, at the time of writing.At the same time, the U.S. dollar once again staged a comeback to fix a trajectory toward twenty-year highs seen this quarter.The U.S. dollar index (DXY) was above 105.1 on the day, coming within just 0.2 points of its highest levels since 2002...
Bitcoin price drops 3% to ten-day lows as Ethereum inches closer to $1K
Altcoins, Bitcoin

Bitcoin price drops 3% to ten-day lows as Ethereum inches closer to $1K

Bitcoin (BTC) lost 3% in an hour and Ether (ETH) drifted toward $1,000 on June 30 as pessimism took control of crypto markets.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewTraders eye "sweep of lows" for BTCData from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $19,224 on Bitstamp during Asian trading, its lowest since June 19.A lack of momentum on upticks combined with a failure to reclaim critical support at the 200-week moving average set the scene for fresh weakness on Bitcoin. The largest cryptocurrency thus dived to the support area defined a day prior by Cointelegraph contributor Michaël van de Poppe.In fresh analysis on the day, meanwhile, traders toyed with the idea of a relief bounce towards $20,000. I expect more range trading within this prices ...
Different this time? ‘Almost all’ Bitcoin metrics are now hinting at a price bottom
Bitcoin

Different this time? ‘Almost all’ Bitcoin metrics are now hinting at a price bottom

Bitcoin (BTC) played wait-and-see with traders on June 28 as Wall Street opened to flat performance.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBollinger eyes "logical place" for Bitcoin bottomData from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $21,000 on Bitstamp, refusing to commit to a firm trend.The pair nonetheless avoided fresh signs of weakness, leading Cointelegraph contributor Michaël van de Poppe to believe that an attack on important levels — notably the 200-week moving average near $22,400 — could be next. #Bitcoin bounced upwards after sweeping the lows at $20.6K.Honestly, was expecting a further correction towards $20.3K. Still long on my positions on $FTM, $ADA, $AVAX & $ETH, as I'm still assuming we'll see continuation to...
3 charts showing this Bitcoin price drop is unlike summer 2021
Bitcoin

3 charts showing this Bitcoin price drop is unlike summer 2021

Bitcoin (BTC) bear markets come in many shapes and sizes, but this one has given many reasons to panic.BTC has been described as facing "a bear of historic proportions" in 2022, but just one year ago, a similar feeling of doom swept crypto markets as Bitcoin saw a 50% drawdown in weeks.Beyond price, however, 2022 on-chain data looks wildly different. Cointelegraph takes a look at three key metrics demonstrating how this Bitcoin bear market is not like the last.Hash rateEveryone remembers the Bitcoin miner exodus from China, which effectively banned the practice in one of its most prolific areas.While the extent of the ban has since come under suspicion, the move at the time saw huge numbers of network participants relocate — mostly to the United States — in a matter of weeks. As a res...
Terra’s LUNA2 skyrockets 70% in nine days despite persistent sell-off risks
Altcoins, Bitcoin

Terra’s LUNA2 skyrockets 70% in nine days despite persistent sell-off risks

The price of Terra (LUNA2) has recovered sharply nine days after falling to its historic lows of $1.62. On June 27, LUNA2's rate reached $2.77 per token, thus chalking up a 70% recovery when measured from the said low. Still, the token traded 77.35% lower than its record high of $12.24, set on May 30.LUNA2's recovery mirrored similar retracement moves elsewhere in the crypto industry with top crypto assets Bitcoin (BTC) and Ether (ETH) rising by approximately 25% and 45% in the same period.LUNA2/USD four-hour price chart versus BTC/USD. Source: TradingViewLUNA2 price rally could trap bullsThe recent bout of buying in the LUNA2 market could trap bulls, given it has come as a part of a broader correction trend.In detail, LUNA2 appears to be forming a "bear flag" pattern, a bearish conti...
Bitcoin price dips under $21K while exchanges see record outflow trend
Bitcoin

Bitcoin price dips under $21K while exchanges see record outflow trend

Bitcoin (BTC) sold off into the June 27 Wall Street open as United States equities fell.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView$25,000 eyed as bulls' line in the sandData from Cointelegraph Markets Pro and TradingView showed BTC/USD following stock markets downhill as the last week of June began.At the time of writing, the pair traded below $21,000, having hit its lowest in three days after a broadly stable weekend.Amid a general lack of bullish conviction among traders, expectations for a further drop stayed present, with Bitcoin still below the crucial 200-week moving average (WMA) at $22,430."Bitcoin says NO against $21K support. That's all fine. We have got levels structured," Cointelegraph contributor Michaël van de Poppe wrote in a Twitter debate on the day.A...
Google users think BTC is dead — 5 things to know in Bitcoin this week
Altcoins, Bitcoin

Google users think BTC is dead — 5 things to know in Bitcoin this week

Bitcoin (BTC) starts a new week above $20,000 but heading for a new bearish record as a key support level remains out of reach.After a calm weekend punctuated by a brief spike to nearly $22,000, BTC/USD is back near the closing price of June 24 for CME futures markets.A “round trip” thus allows traders to pick up where they left off at the end of last week’s final Wall Street trading session, but what could lie in store in the coming days?A familiar cocktail of macro threats and ongoing bearish tendencies make the current climate far from ideal for the average hodler. Despite seeing some relief last week, crypto markets continue to bear the brunt of cold feet, which have defined macro sentiment increasingly throughout 2022.With the June monthly close fast approaching, meanwhile, Bitcoin fa...
How low can Ethereum price drop versus Bitcoin amid the DeFi contagion?
Bitcoin, Etherium

How low can Ethereum price drop versus Bitcoin amid the DeFi contagion?

Ethereum's native token Ether (ETH) has declined by more than 35% against Bitcoin (BTC) since December 2021 with a potential to decline further in the coming months.ETH/BTC weekly price chart. Source: TradingViewETH/BTC dynamicsThe ETH/BTC pair's bullish trends typically suggest an increasing risk appetite among crypto traders, where speculation is more focused on Ether's future valuations versus keeping their capital long-term in BTC. Conversely, a bearish ETH/BTC cycle is typically accompanied by a plunge in altcoins and Ethereum's decline in market share. As a result, traders seek safety in BTC, showcasing their risk-off sentiment within the crypto industry.Ethereum TVL wipe-outInterest in the Ethereum blockchain soared during the pandemic as developers started turning to it to cre...
Bitcoin may still see ‘wild’ weekend as BTC price avoids key $22K zone
Altcoins, Bitcoin

Bitcoin may still see ‘wild’ weekend as BTC price avoids key $22K zone

Bitcoin (BTC) focused on $21,000 into the weekend amid warnings that volatility could still consume the market before Monday.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewS&P 500 sees second best week of 2022Data from Cointelegraph Markets Pro and TradingView showed BTC/USD broadly higher in its recent trading range after U.S. stocks ended the week strong.As noted by markets commentators Holger Zschaepitz, the S&P 500 sealed its second best week of 2022, indicative of modest relief across risk assets.In case you missed it: S&P 500 has gained >6% in 2nd-best week of 2022 as disinflationary forces gather steam & #Fed tightening expectations recede. Investors now see the key interest rate at only 3.4% at the end of 2022, a full 35bps lower than at the star...