Tag Archives: Bitcoin (BTC) Price

There are exciting weeks in the cryptocurrency market, and then there are weeks like the last one. It felt like the last seven days were a constant chop for Bitcoin, bouncing between $26K and $27K with absolutely no particular direction. The market is trading more or less where it was last week, and it currently sits at $1.17 billion per data from CoinGecko. This comes on the back of minor movements from major coins such as Ethereum, Binance Coin, XRP, Cardano, and others. In...

Bitcoin turned higher this week, recording a modest 2% gain. While the largest crypto asset continues to languish below several key levels, the holders’ accumulation over the past several weeks suggests that it is “increasingly being used as a buy-and-hold asset.'” According to Bitfinex’s latest report, over 68.45% of the total supply, amounting to 13.27 million of the 19.4 million BTC in existence, have not moved in over a year. This growing trend of investors holding...

For the past two weeks, Bitcoin has maintained its range-bound price movement. However, there are several indicators pointing toward an imminent breakout. Technical Analysis By Edris The Daily Chart The price has been consolidating within a narrow range on the daily timeframe for the last 7 days. This consolidation follows the market’s downward rejection at the $30K resistance level and the subsequent breakdown of the 50-day moving average of around $29K. Currently, the...

Although typically regarded as a volatile asset with major price fluctuations, bitcoin has been stuck in a tight range for the past several days. However, all that could change in the following days, at least according to similar historical developments. Aside from a price dive on May 12 to a two-month low, BTC’s recent performance has been rather uneventful. The asset went to a high of $27,600 last week and then dipped by a grand, which was the most substantial price move of...

The Democrat candidate for U.S. President took to the “Nakamoto Stage” at the Bitcoin 2023 conference to make some powerful pledges. Robert F. Kennedy shared his own experiences with Bitcoin stating that he would protect the rights of Americans to hold and use the asset if he is elected president. “As president, I will make sure that your right to hold and use Bitcoin is inviolable,” Kennedy went on to add, “I am an ardent defender and lifelong defender of civil liberties,...

Bitcoin has been stuck in a range in the last few days following a rejection from the $30K resistance level. There are various points for market participants to look forward to in the short term. Technical Analysis By: Edris The Daily Chart On the daily timeframe, the price has been consolidating in a very tight range over the last week. This comes after the $30K resistance level rejected the market to the downside. The 50-day moving average was also broken down around the...

Well, the past week had some exciting developments to offer, at least in certain segments of the market. The broader capitalization barely increased by around $5 billion, currently standing shy of $1.2 trillion. This came on the back of a relatively flat performance of major cryptocurrencies, but some altcoins managed to surprise. Let’s dive in. It’s been a back-and-forth with Bitcoin this week. The cryptocurrency was trading at around $26,500 this time last week and managed...

Bitcoin’s price has continued trending downward for several weeks, making lower highs and lows. Even so, hope remains that the potential for a bullish rally is not yet over. Technical Analysis By: Edris The Daily Chart On the daily chart, the price has been dropping recently after failing to break through the key $30K resistance level. The 50-day moving average, located around the $28K mark, has also been broken to the downside and would act as resistance until the price...

Bitcoin recovered slightly over the weekend, but still remains suppressed at a relative seasonal low of $27,360. What’s behind the latest slump?According to crypto market analysis firm CryptoQuant, the downward price pressure may be coming from miners. Miners ‘Unload Their Bags’ In a post from BaroVirtual on Saturday, the analyst noted that miners have been drastically reducing their holdings since May 5, with miner net position change turning negative on May 9. The metric...

Bitcoin’s price has been dropping continuously over the last week, and there may still be more. However, the bearish momentum is much lower than expected, and multiple support levels are available for the market to rely on. Technical Analysis By: Edris The Daily Chart Looking at the daily timeframe, the price has been declining since getting rejected from the $30K resistance level in April, and it has also broken below the 50-day moving average, located around the $29K mark....