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Home / Tag Archives: Bitcoin (BTC) Price

Tag Archives: Bitcoin (BTC) Price

Bitcoin & Wall Street Plunge As Powell Threatens Interest Rate Hikes At FOMC

Bitcoin’s price went turbulent during a press conference following today’s highly anticipated Federal Open Markets Committee (FOMC) meeting. It fell $1000 as Federal Reserve Chairman Jerome Powell restated plans to raise the federal funds rate in March. In his speech preceding the conference, Powell recognized that much of the labor force is unable to report for work, given current circumstances. However, he expects the effects of the Omicron wave to be brief, alongside its...

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Bitcoin Price Analysis: Despite the Impressive Correction, Fear is Still Around

During the recent weeks, the cryptocurrency markets have plunged due to fear at the macro-level (risk off). In this analysis, we will take a closer look at the bitcoin price from the Technical, Onchain, and Options Markt standpoints and discuss the possible scenarios in the short and mid-term. Technical Analysis By: Shayan Long-Term Analysis We can observe how the price organically evolves into a larger corrective structure following the first bullish impulse phase. A few...

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Bitcoin Won’t Bottom Until It Retests $28,500, Believes BitMEX Co-Founder Arthur Hayes

Arthur Hayes – co-founder of BitMEX – just gave an interesting Bitcoin price forecast in his bi-weekly analysis. Despite his expectations that the Federal Reserve won’t raise interest rates, he still doubts Bitcoin’s bottom will arrive until a $28,500 retest. Calling the Fed’s Bluff In BitMEX’s latest post from Crypto Trader Digest titled “Bottomless,” the former CEO extols cryptocurrencies as the “last free market on earth”. He explained that due to “wanton” money printing,...

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Bitcoin Price Analysis: BTC Reached Oversold, But Bottom Might Not Be in Yet

In an indecisive spot market, the low liquidity in the order book allows the aggressive traders to take control, leading to unexpected volatility. Currently, the futures market may see more liquidations before any price recovery. Technical Analysis Daily Timeframe The image below shows that bitcoin is in a strong downtrend, and the bears are in charge. However, we’re in a zone that can hold the price for a few days or even weeks. Additionally, the RSI indicator, which helps...

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Bitcoin Sends a Message That New York City Is Open to Technology, Says Mayor

Bitcoin will help New York to send a message to the world that the city is open to adopting new and innovative technologies, said mayor Eric Adams. He also showed no regrets about receiving his first paycheck in BTC amid the market meltdown. Bitcoin Sends a Message Ever since last year’s elections, Eric Adams has displayed a pro-cryptocurrency approach, insisting that he will receive his first paychecks in BTC and also transform the Big Apple into a bitcoin hub. While his...

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Bitcoin Price Analysis: This is the Level to Watch If BTC Breaks Below $35K

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...

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Bitcoin’s RSI is Now at the Most Oversold Level Since the March 2020 COVID Crash

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...

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Market Watch: Cryptocurrencies See Double-Digit Drops After Wall Street’s Friday Bloodbath

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....

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Despite the Price Crash: Bitcoin Hash Rate and Mining Difficulty at ATH

While bitcoin’s price went through another steep correction in the past 24 hours, the network’s robustness only increases. The BTC hash rate recently tapped a new all-time high, while the mining difficulty went through a 9% positive adjustment, leading to a peak of its own. Hash Rate and Mining Difficulty See ATHs Ever since the summer of 2021, when the Chinese authorities ousted bitcoin miners and the hash rate dumped by 60% in weeks, the metric has been gradually recovering...

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Bitcoin Loses $40K, Ethereum Below $3K: This Red Week’s Crypto Recap

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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