Tag Archives: Bitcoin (BTC) Price

Despite fears surrounding the US banking sector, the Fed has followed through on its plans to quell inflation with an interest rate hike of 25 basis points on Wednesday. The decision notably affected the price of Bitcoin, which pumped $300 within 5 minutes of the announcement. Bitcoin started the day trading at $28,216, before rising to $28,417 ahead of FOMC.  The asset then broke upwards to $28,752 following the interest rate decision. It trades for $28,480 at writing...

As Bitcoin returns to a 9-month high above $28,000, a growing number of on-chain signs show the asset may be entering an early bull market.  On Monday, blockchain analytics firm Glassnode said the Bitcoin market “appears to be shifting gears” amid turmoil within the traditional banking system.  Reclaiming Momentum According to the firm’s weekly report, Bitcoin’s monthly average transaction count reached 309.5k/day this week – its highest level since Bitcoin surged to $64,000...

The Fear and Greed Index – a metric that shows the overall sentiment toward bitcoin – currently points at 66, the highest level since November 2021. One factor behind the investors’ predominantly bullish perspective could be the impressive price performance of the primary cryptocurrency, which has been up nearly 30% for the past week. Greed Among Investors  Most cryptocurrencies, including bitcoin, have recently shown remarkable resilience to the global economic issues...

Bitcoin’s price rallies after breaking above a significant resistance level. However, the 2022 bear market is not over yet until another critical level is broken to the upside. Technical Analysis By: Edris The Daily Chart On the daily chart, Bitcoin’s price had seen a massive uptrend over the past week, following a V-shaped rebound from the 200-day moving average located amid the $20K mark, followed by a decent breakout above the $25K resistance level. Currently, the price is...

Markets are starting to price in an incoming Fed pivot as bank instability forces central banks to protect the financial system.Analysis from CryptoQuant analyst Cristian Palusi suggests that the liquidity crises now plaguing commercial banks may be a “long-awaited buy signal” for Bitcoin.  Banks Down, Bitcoin Up In a post published on Thursday, Palusci noted that the implied federal funds’ policy rates have severely shortened their time frame for when they think the central...

Ryan Selkis – CEO of the crypto intelligence firm Messari – believes there will be more negative events in the financial world in the near future, including bank crashes. He sees bitcoin acting as “a life raft and peaceful exit option” amid the calamity, predicting its price could soar to $100,000 in the next twelve months. What Does the Future Hold? In a recent tweet, Selkis shared his vision regarding the future condition of the financial world and how those possible...

Things change fast in the cryptocurrency industry. In the span of seven days, the market shifted completely, with the sentiment escaping the fear zone. The total capitalization also soared, adding a whopping $165 billion in the process. But what happened? Well, let’s dive in. First things first, it’s important to note that BTC’s price is currently trading above $26K, reaching highs last seen nine months ago in June 2022. This marks a 30% increase, and it comes on the back of...

Bitcoin soared to a high of $26,514 on Tuesday, up 30% since crashing below $20,000 on Friday. What caused the king of crypto to rebound in such a spectacular fashion? Here are three possible reasons:  Silicon Valley Bank’s Bailout Much of Bitcoin’s price trouble last week stemmed from uncertainty surrounding the crypto industry’s biggest banking partners going bust. Those partners include Silvergate, Signature Bank, and Silicon Valley Bank – the latter of which was seized by...

The U.S. government’s biggest financial regulators released a joint statement on Sunday promising to save every last depositor at Silicon Valley Bank (SVB) – even those not fully covered by standard federal deposit insurance.  In response to the news, both Bitcoin and USDC are quickly returning to their price levels from before the bank’s collapse.  The Federal Reserve, Treasury Department, and Federal Deposit Insurance Corporation jointly announced that every depositor would...

The past 24 hours saw the cryptocurrency market take a bit of a breather as it managed to recover around $16 billion in terms of its total capitalization. That said, the turmoil around USDC continues, although the stablecoin recovered to about $0.95 as Circled issued a somewhat reassuring statement. USDC Recovers to $0.95 USDC’s depeg has been the hottest topic in the cryptocurrency market throughout the past 48 hours. It’s the second-largest stablecoin by means of total...