Markets

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The past hours saw a massive sell-off, causing an unexpected and enormous plunge to sub-$40K in the price of Bitcoin. The onchain data is showing an absolute capitulation phase in the market, which was intensified by long-term holders just before the crashing to $35K. Long Term Analysis: The Daily Chart Yesterday, Bitcoin lost a critical support range at $37K – $40K. As shown in the chart below, before the price decline beneath $40K, both 50-DMA and 100-DMA lines have crossed...

The cryptocurrency market lost over $400 billion worth of its capitalization in the past few days alone. The total market cap currently sits below $1.7 trillion. This came as most of the coins are down tremendously in the past week. Ethereum is down 27.7%, BNB is down 27.8%, ADA is down 17.6, SOL is down 36.2%, and so forth. Bitcoin’s price is currently sitting around $35K and has lost almost 20% in the same time frame. From a technical perspective, it’s important to note...

Amid the current market crash, $1 billion worth of USDT was transferred from Tether’s treasury to Binance. The past couple of days were particularly devastating in both the cryptocurrency and the legacy markets. During Saturday’s trading session, Bitcoin’s price crashed to a low of around $34,000 on Binance, and it’s currently trading at around $35K, struggling to hold above that level. Now, Whale Alert detected that $1 billion worth of USDT was transferred from the Tether...

As the crypto market continues to bleed over the past days, the Grayscale Bitcoin Trust (GBTC) shares have widened their discount in relation to the underlying crypto held in the fund. GBTC Premium at New Lows According to recent data from Coinglass, the trust’s negative premium hit a new all-time low (ATL) as bitcoin struggles around the $35,000 mark. The GBTC has been trading on a steady decline since February last year, with the premium now sitting at 30%. The Grayscale...

The bears continue to have complete control over the cryptocurrency market with numerous double-digit price losses from almost all assets. This comes just hours after the US stock market dumped in value again. Bitcoin Dumps $8K in Two Days It’s safe to say that the primary cryptocurrency has seen better days. In fact, they weren’t all that long ago as the asset jumped to $43,500 on Thursday following a $1,500 price hike. However, the situation changed vigorously hours later....

The host of CNBC’s “Mad Money” – Jim Cramer – sounded a note of caution for investors regarding the popular memecoin Dogecoin. The American views it as a security that will soon get regulated. ‘Please Be Careful with Dogecoin’ The 66-year-old TV host often changes his stance on the crypto industry. Last year, he allocated some of his wealth into Bitcoin and Ether and even insisted on receiving his salary in the primary cryptocurrency. A few months later, the Chinese crackdown...

The Mozilla Foundation announced on Twitter on New Year’s Eve that it was going to be accepting crypto donations. However, this decision has since come under fire by one of the firm’s co-founders, and it looks like Mozilla is rescinding the decision. Mozilla Foundations Rejects Crypto Jamie Zawinski – one of the people involved in creating Mozilla – says he’s happy to play a role in preventing the firm from making such a “terrible decision.” He has long been a big critic...

To say that the past seven days were bad in the cryptocurrency market would be kind of an understatement. Most of the coins are down by solid double digits as the total capitalization lost around $250 billion and fell below $2 trillion. Let’s start with Bitcoin. The cryptocurrency was behaving relatively well throughout most of the week, and it even managed to reach above $43K earlier on Thursday, attempting to conquer the resistance above that – at $44K. On Friday, though,...

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