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Tag Archives: Bitcoin (BTC) Price

BNB Leads Recovery Efforts While Bitcoin Struggles Below $17K (Weekend Watch)

Over the past day, the total cryptocurrency market capitalization managed to recover a few billion, but the overall market saw no considerable volatility, and volume is drying up. Some altcoins managed to pull ahead, but the broader sentiment remains fearful. Bitcoin Struggles Below $17K Bitcoin’s price was unable to hold above the $17K level yesterday and dropped to a low of $16,527 on Binance. The cryptocurrency has failed to recover and is currently trading at around...

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Crypto Bloodbath: Bitcoin Plummets Below $17K, BNB Crashes 7% (Weekend Watch)

The past 24 hours have been tough in the cryptocurrency markets, with the total capitalization dropping by some $40 billion. This comes on the back of major coins charting serious declines and BTC plummeting below $17K. Bitcoin Goes Below $17K Bitcoin’s price took a serious beating over the past couple of days, losing about 9% of its value since hitting $18,300 earlier in the week. For the past 24 hours alone, the cryptocurrency is down by almost 3%, training at around...

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Will Bitcoin Price Winter Continue in 2023? 8 Key Considerations

In 2022 Bitcoin, Ethereum, and the bevy of altcoins riding on the original gangster cryptocurrency’s very long coattails weathered their most brutal crypto winter to date. Of course, the cryptocurrency industry is eager for an end to the long, drawn-out Bitcoin price winter. From Bitcoin miners and mining pools to Layer-2 chain developers like the Lightning Network to crypto day traders and crypto investors – confidence is shaken, fear and greed are high, and the metaphorical...

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Bitcoin Rollercoaster on US Inflation Data, SBF’s Arrest, and MetaMask’s PayPal Collab: This Week’s Recap

The biggest news of the past seven days is undoubtedly the arrest of the former CEO of FTX – Sam Bankman-Fried. This took place on December 13th in the Bahamas at the request of the US Government. SBF now faces multiple counts of fraud charges, including criminal charges from the US DOJ. The US Bureau of Labor Statistics also published the numbers for the Consumer Price Index, which clocked in at 7.1%. The expectations were for 7.3%, which sent the markets, including Bitcoin,...

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Bitcoin Falls Below $18k After Federal Reserves Announces 50bps Rate Hike

Bitcoin saw more volatility on Wednesday following a Federal Open Markets Committee meeting, during which the U.S. central bank agreed to raise its benchmark interest rate by 0.5%. The announcement, which aligned with market expectations, signals the Fed’s first movement this year to slow the hawkish momentum of monetary policy.  As the Federal Reserve unveiled its decision at 14:00 EDT, Bitcoin immediately fell from $18,300 to $17,850 within five minutes.  The asset reversed...

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Bitcoin Soars to $18K But How High Can it Continue? (BTC Price Analysis)

This week’s CPI announcement was a significant relief for Bitcoin investors, as declining inflation would likely lead to a bullish trend for risk assets. However, there is still room for caution from a technical analysis standpoint, as the price has yet to break any major resistance level. Technical Analysis By: Edris The Daily Chart On the daily timeframe, the price has finally reached the $18K resistance area and is currently trying to break it to the upside. The 50-day...

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Bitcoin and Ether in for Quiet Holidays According to Glassnode

Crypto and Bitcoin markets are heading for a lull period if the on-chain activity is anything to go by. In its last weekly on-chain report for the year, analytics provider Glassnode reported that Bitcoin annualized realized volatility has been the lowest since October 2020. The metric matches similar low volatility levels at the previous cycle bottom in late 2018. Futures volumes are also severely depressed at multi-year lows, it stated, adding: “This shows the massive impact...

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Arthur Hayes Believes Bitcoin Has Bottomed: Here’s Why

BitMEX co-founder and renowned crypto essayist, Arthur Hayes, thinks the worst of this year’s Bitcoin bear market has come to pass.  The former CEO believes the three major cohorts of forced Bitcoin sellers – trading firms, miners, and speculators – have already capitulated, marking the bottom of Bitcoin’s market cycle.  How Bitcoin Gets Dumped As Hayes explained in a blog post titled PEDMAS on Friday, centralized lenders (CELs) begin by going bankrupt when they lend to...

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Bitcoin Price Analysis: BTC Could Initiate Next Rally If this Level Gets Broken

Bitcoin is fighting to get over two crucial resistance levels. A successful breakout above these vital barriers could potentially result in a bullish surge in the near future. Technical Analysis By Shayan The Daily Chart After touching the lower trendline of the descending wedge pattern, the price of bitcoin initiated a mini-rally followed by extremely low momentum and trading volume. The price now faces two substantial resistance levels: the 50-day moving average at $17.9K...

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Bitcoin Remains Calm in Anticipation of Tuseday’s CPI Release (Weekend Watch)

The cryptocurrency market has remained calm over the past 24 hours with unimpressive volumes, which is rather typical for the weekend. It’s also worth noting that market participants might be cautious before the release of November’s CPI numbers. Bitcoin Stable at $17K Bitcoin’s price has failed to produce any significant movements in the past 24 hours and has maintained above $17K for a total of 0.2% gains on the day, according to CoinGecko. As seen in the chart below, there...

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