Tag Archives: Bitcoin (BTC) Price

Bitcoin’s price has now broken well below $30,000, touching down to $28,228 just moments ago. That’s Bitcoin’s cheapest price since January 4th, 2021, retracing some of the gains made in its early bull market. On Wednesday at 20:50 UST, Bitcoin’s price slipped from $29,000 to $28,228 within less than 5 minutes. The price remains at $28,551 at the time of writing, down about 8% on the day. The rest of the crypto market is also struggling with Ethereum barely holding $2000 as a...

El Salvador president Nayib Bukele has announced another Bitcoin purchase amid the current crypto market turmoil. Over Twitter, Bukele claimed to have bought exactly 500 Bitcoin for an average of $30,744 dollars each on Monday. The president, who has admitted to making Bitcoin buys from his phone using the country’s money, referred to the purchase as “buying the dip”. As of today, Bitcoin has closed its 6th consecutive red weekly candle for the first time since 2014. It’s...

More carnage swept through the crypto markets today, with another $300 million worth of trades liquidated within an hour. This happened as Bitcoin’s price plunged as low as $31,000 – its lowest level since July 2021. According to Glassnode, exactly $314.3 million in trades have been cleared within the last hour and $724.99 million within the last 24 hours. Interestingly, about half of the lost positions were on ETH trades ($154 million) while significantly less were lost on...

After consolidating above the $37K decisive level for a few weeks, Bitcoin was eventually rejected after another attempt at $40K and plunged below the key support following tremendous bearish momentum. BTC futures market has seen a massive long liquidation due to the recent bearish leg. Technical Analysis Technical Analysis By Shayan The Daily Chart Many retail investors have been buying Bitcoin around the $37K range, resulting in a lot of liquidity (sell stops) below the...

Bitcoin’s price crashed to levels that we last saw on the day that Russia invaded Ukraine. Moreover, the entire market lost over $150 billion of its capitalization as the past 24 hours caused nothing but mayhem in the industry. Bitcoin’s price is down 9% in the past seven days, and it’s currently trading slightly above $36K. This time last week, the cryptocurrency was sitting slightly below $39K, and the week was going relatively well. The price managed to increase towards...

Bitcoin has broken the $37K support to the downside as the price crashed more than 10% yesterday. This could trigger a bearish scenario towards the $30K demand zone. Technical Analysis By: Edris Daily Chart:  Considering the current market structure, the 100-day and 50-day moving averages seem likely to chart a bearish cross in the next few days, further aggravating the selling pressure. On the other hand, if the price can close above the $37K level soon, the bearish...

Bitcoin’s price took a nosedive on Thursday after stocks retraced gains made following yesterday’s Federal Open Markets Committee Meeting (FOMC). It fell to $36,520 – the cryptocurrency’s lowest price since Russia invaded Ukraine.  At FOMC on Wednesday, Federal Reserve Chairman Jerome Powell announced the first 0.5% interest rate hike since May of 2000. He set future expectations for further 50 basis point hikes later this year.  However, he also claimed that 75 basis point...

The Federal Reserve announced a 50 basis point interest rate hike during May’s Federal Open Markets Committee (FOMC) meeting. This is twice the size of the rate increase from last month, and the largest hike since May of 2000. Fed chairman Jerome Powell began his press conference following FOMC with a direct message to the American people:  “Inflation is much too high”. March’s annual CPI statistic clocked in at 8.5% last month, the highest official inflation level in over 40...

Bitcoin’s RSI has been rejected from a significant long-term trendline three times. When the RSI hit the mentioned trendline, the price plummeted sharply and was rejected. To provide prospects of positive development in terms of price, the trendline needs to get broken. Technical Analysis By Shayan The Daily Chart The $37K threshold has become a significant support level for Bitcoin, acting as a substantial hurdle for bears. If this level fails to hold, the price will likely...

Arthur Hayes, the co-founder and former CEO of leading crypto derivatives platform BitMEX, has predicted that Bitcoin’s price will reach the $1 million mark by the end of the current decade. In a blog post published on Wednesday, Hayes gave a comprehensive breakdown of how the leading cryptocurrency would reach $1 million in eight years, a value that is 2,500% higher than its current price. The Doom Loop Hayes described a phenomenon he calls “The Doom Loop,” which represents...