Tag: BTC price

Bitcoin price retests key $22.8K as metric points to ‘BTC buying spree’
Bitcoin

Bitcoin price retests key $22.8K as metric points to ‘BTC buying spree’

Bitcoin (BTC) returned to base on Aug. 4 as higher levels gave way to a battle for the 200-week moving average (MA).BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBattle for classic Bitcoin price trendline rages Data from Cointelegraph Markets Pro and TradingView showed BTC/USD falling to repeatedly test the key bear market trendline as support.The day’s Wall Street open provided only a brief change in the mood, with the pair spiking above $23,000 before continuing previous behavior. The atmosphere was unchanged by news that investment giant BlackRock had partnered with major exchange Coinbase to provide crypto trading to clients.Instead, the familiar status quo involving the 200-week MA just above $22,800 entered another chapter, with bulls and bears still tussling for co...
‘Insane evidence’ Bitcoin has capitulated in past 2 months — analysis
Analysis, Bitcoin

‘Insane evidence’ Bitcoin has capitulated in past 2 months — analysis

Bitcoin (BTC) is providing overwhelming evidence that it is capitulating, and it is time to flip bullish as a result, new analysis believes.In a Twitter thread on Aug. 3, Charles Edwards, CEO of crypto asset manager Capriole, revealed what he called the “The 12 Bitcoin Capitulations.”“Risk-returns skewed positively” for BitcoinWith BTC price action recovering from multi-year lows but still hovering near key bear market support, opinions vary widely as to what will happen next.Some are demanding a return to levels even lower than June’s $17,600 trough, while others argue that a “bear market relief rally” could take BTC/USD as high as $40,000 first.For Edwards, the raw evidence suggests that the past months have been bearish enough and that behind the scenes, Bitcoin has been quietly ca...
MicroStrategy stock MSTR hits 3-month high after CEO’s exit
Bitcoin

MicroStrategy stock MSTR hits 3-month high after CEO’s exit

MicroStrategy (MSTR) stock opened higher on Aug. 3 as investors digested the news of its CEO Michael Saylor's exit after a depressive quarterly earnings report.Microstrategy stock up 142% since May lows On the daily chart, MSTR's price surged by nearly 14.5% to $324.55 per share, the highest level since May 6. The stock's intraday gains came as a part of a broader recovery that started on May 12 at $134. Since then, MSTR has grown by 142% versus Nasdaq's 26.81% gains in the same period.MSTR daily price chart. Source: TradingViewBad Q2, Saylor's resignationThe Aug. 3 MSTR rally came a day after MicroStrategy reported a billion dollar loss in its second quarter (Q2) earnings call. Interestingly, the company's major Bitcoin exposure was a large reason for its poor quarterly performance.T...
Bitcoin price battles $23.5K resistance amid relief over Pelosi Taiwan trip
Bitcoin

Bitcoin price battles $23.5K resistance amid relief over Pelosi Taiwan trip

Bitcoin (BTC) rose to daily resistance at the Aug. 3 Wall Street open as United States equities gained on relief over Taiwan.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewStocks gain as US dollar coilsData from Cointelegraph Markets Pro and TradingView showed BTC/USD returning to the area just below $23,500, which had figured as resistance since the start of the month.The pair had previously held the same zone as support, and was now deciding on whether a new resistance/ support flip was on the cards. For popular trader Crypto Tony, $23,500 was thus the price to watch to long BTC.$BTC / $USD - Update Keep it simple this morning on #Bitcoin ..- Long above resistance at $23,500- Short below support at $22,650 pic.twitter.com/onXXRvdXx8— Crypto Tony (@CryptoTony__) August 3,...
Bitcoin price clips $23K on Pelosi Taiwan visit as trading range persists
Bitcoin

Bitcoin price clips $23K on Pelosi Taiwan visit as trading range persists

Bitcoin (BTC) saw volatility after the Aug. 2 Wall Street open amid ongoing market reactions to tensions between the United States and China.BTC price U-turns as Pelosi lands in TaipeiData from Cointelegraph Markets Pro and TradingView showed BTC/USD spiking above $23,000 on the day as news came in that Nancy Pelosi, speaker of the U.S. House of Representatives, had landed in Taipei, Taiwan after warnings of retaliation from Beijing.The visit, which had raised concerns of a major incident occurring, appeared to go without a hitch — something an analyst at major banking giant JPMorgan had previously said would spark a market rally.she made it, pump the markets pic.twitter.com/Os09HTGIoc— Fomocap (@fomocapdao) August 2, 2022Both the S&P 500 and Nasdaq Composite Index were slightly h...
Bitcoin traders pinpoint key levels to watch as BTC price tests key trendlines
Altcoins, Analysis, Bitcoin

Bitcoin traders pinpoint key levels to watch as BTC price tests key trendlines

Bitcoin (BTC) is pressuring newly-won support levels this week as geopolitical uncertainty raises the stakes for risk assets.After an impressive monthly close, momentum appears to be waning for Bitcoin's latest gains, data from Cointelegraph Markets Pro and TradingView shows, and stock markets are not helping the bulls.Volatility was cool as August began, but angst over a potential showdown between the United States and China over House Speaker Nancy Pelosi's visit to Taiwan is already showing in Asian trading on Aug. 2.Amid talk of a "bear market rally" being all that can describe the current setup, Cointelegraph takes a look at the crucial support and resistance levels currently facing the market on short timeframes.Traders unconvinced over fate of 200-week moving averageAnalyzing o...
Best monthly gains since October 2021 — 5 things to know in Bitcoin this week
Bitcoin

Best monthly gains since October 2021 — 5 things to know in Bitcoin this week

Bitcoin (BTC) starts a new week and a new month on a cautiously positive footing after protecting crucial levels.After an intense July in which macro factors provided significant volatility, BTC price action managed to provide both a weekly and monthly candle favoring the bulls.The road to some form of recovery continues, and at some points in recent weeks, it seemed like Bitcoin would suffer even harder on the back of June’s 40% losses.Now, however, there is already a sense of optimism among analysts, but one thing remains clear — this “bear market rally” does not mean the end of the tunnel yet.As Summer 2022 enters its final month, Cointelegraph takes a look at the potential market triggers at play for Bitcoin as it lingers near its highest levels since mid-June.Spot price snatches back ...
Historically accurate Bitcoin metric exits buy zone in ‘unprecedented’ 2022 bear market
Bitcoin

Historically accurate Bitcoin metric exits buy zone in ‘unprecedented’ 2022 bear market

Bitcoin (BTC) is enjoying what some are calling a "bear market rally" and has gained 20% in July, but price action is still confusing analysts.As the July monthly close approaches, the Puell Multiple has left its bottom zone, leading to hopes that the worst of the losses may be in the past.Puell Multiple attempts to cement breakoutThe Puell Multiple one of the best-known on-chain Bitcoin metrics. It measures the value of mined bitcoins on a given day compared to the value of those mined in the past 365 days.The resulting multiple is used to determine whether a day's mined coins is particularly high or low relative to the year's average. From that, miner profitability can be inferred, along with more general conclusions about how overbought or oversold the market is.After hitting levels whi...
Bitcoin price eyes $24K July close as sentiment exits ‘fear’ zone
Bitcoin

Bitcoin price eyes $24K July close as sentiment exits ‘fear’ zone

Bitcoin (BTC) dropped volatility on the last weekend of July as the monthly close drew near.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView200-week moving average in focus for July closeData from Cointelegraph Markets Pro and TradingView showed BTC/USD retaining $24,000 as resistance into July 30.The pair had benefitted from macro tailwinds across risk assets in the second half of the week, these including a flush finish for United States equities. The S&P 500 and Nasdaq Composite Index gained 4.1% and 4.6% over the week, respectively.With off-speak trading apt to spark volatile conditions into weekly and monthly closes thanks to thinner liquidity, however, analysts warned that anything could happen between now and July 31.“Just gonna sit back and watch the market up until ...
Bitcoin price rejects at $24K as ‘classic short setup’ spoils bulls’ fun
Bitcoin

Bitcoin price rejects at $24K as ‘classic short setup’ spoils bulls’ fun

Bitcoin (BTC) saw fresh volatility after July's final Wall Street open as highs north of $24,000 remained solid resistance.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewResistance strikes BTC at $24,000Data from Cointelegraph Markets Pro and TradingView reflected bulls' continuing struggle as BTC/USD lurched around the $24,000 mark on July 29.The pair had attempted to match the week's local top of $24,450, this ultimately failing to materialize as a resurgent U.S. dollar pressured crypto despite the gains of U.S. stocks .The U.S. dollar index (DXY) continued higher during the Wall Street trading, passing 106 after falling to its lowest levels since July 5.U.S. dollar index (DXY) 1-hour candle chart. Source: TradingViewRecord eurozone inflation added to the mix of mac...