Tag Archives: Bitcoin (BTC) Price

Bitcoin is up by 12% from yesterday’s low of $31,000, according to Bitstamp, and is currently battling to climb above a descending trend line that spans the first week of June. The primary cryptocurrency saw a turbulent week after breaking beneath the previous symmetrical triangle pattern on Monday. BTC kept sliding following the bearish breakout as it even broke the late-May support at $33,500 and continued lower yesterday to hit the low at $31,000, which was the lowest...

Bitcoin’s price is nearing a critical level as the 50-day moving average is close to the 200-day moving average. The so-called death cross typically results in significant price volatility, with history suggesting two possible outcomes. Scenario 1: Bitcoin Goes Down Hard Ever since BTC peaked in mid-April at $65,000, the cryptocurrency has failed to continue or even maintain its run. Just the opposite, the asset has lost roughly 50% of its value in less than two months. By...

With the latest price fluctuations with BTC’s price, it’s worth reviewing how different investors are interacting with their holdings. From one side, centralized exchanges saw the largest daily withdrawal in the year, but, on the other, Bitcoin-related products saw the most significant outflows worth $141 million. Largest BTC Withdrawals This Year By outlining data from Glassnode, Lex Moskovski, the Chief Investment Officer at Moskovski Capital, showed the recent spike in...

After a few days of sideways trading, bitcoin fell hard by losing almost $5,000 of value in less than a day. The rest of the market followed suit as Ethereum slumped by $400 to an eight-day low. Bitcoin Dumped to Lowest Level Since May 24th The past few weeks have been somewhat unusual for the primary cryptocurrency. During the previous weekend, BTC dumped beneath $33,500, but it used the workweek to regain all losses. It failed at breaching $40,000, dropped by a few thousand...

Bitcoin fell by a sharp 10% today as it lost over $5000 over the past 48 hours. The primary cryptocurrency was trading inside a symmetrical triangle pattern since the market capitulation took place in mid-May when BTC fell by 50% from a high of $59,600 to a low of $30,000 in just nine days. Since then, BTC traded inside the consolidation phase for a total of eighteen days until it broke the lower boundary of the triangle yesterday. This can be clearly seen on the following...

Bitcoin’s consolidation continues as it’s trading exactly where it was a week ago. It had made a push higher toward the end of last week but got heavily rejected by the $38-40k zone, where it met resistance at the upper boundary of a symmetrical triangle pattern (as shown below). From there, BTC headed lower over the weekend, reaching $34,850 on Bitstamp, where it found support at the lower boundary of the same symmetrical triangle pattern. It has since bounced higher and it...

Approximately five months after allocating 2.5% of its portfolio in BTC, Ruffer Investment has sold its entire position at a profit of over $1 billion. The firm cited the declining interest from younger generations as the primary reason for the sale. CryptoPotato reported in late 2020 that the giant asset manager founded in 1994 in the UK had entered the bitcoin field by investing 2.5% of its portfolio. Although some initial reports indicated that the percentage represented...

Although the weekend started on a positive note for bitcoin, it continued with price slumps, and the asset plunged by about $3,000 in hours. The altcoins are also deep in red, with ETH dumping below $2,700 and BNB beneath $400 – the market cap lost another sizeable chunk of value in a day. Bitcoin Struggles at $36K The workweek was actually going well for the primary cryptocurrency as it was gaining traction and even jumped to a six-day high of $39,500. However, the inability...

The latest substantial market crash has turned bitcoin into a “discounted and refreshed” asset, argued researchers from Bloomberg. In their most recent paper, they reasoned that BTC might stay in a range between $30,000 and $40,000 for a while, but its ultimate trajectory by the end of the year is towards $100,000. DIscounted and Refreshed Bitcoin Bitcoin’s price went through a roller-coaster since its all-time high in mid-April at $65,000. The freefall began in May, perhaps...

Bitcoin has bounced off after the latest negative engagement by Elon Musk and has neared $38,000. Most alternative coins have spiked even harder in the past 24 hours, with ETH trading around $2,800 and BNB surging well past $400. Bitcoin Recovers the Latest Elon Musk Dump After the previous weekend in which BTC dumped below $34,000, the asset performed rather well during the workweek. It was gradually increasing for a few consecutive days and even broke above $37,000. The...