Tag Archives: Bitcoin (BTC) 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....

Bitcoin crashed on Friday down to $26,166 and continues struggling to break back above the $26,500 level. What gives? Crypto market analytics platform CryptoQuant said the latest fall may be due to a coordinated FUD campaign against the primary cryptocurrency, which triggered a wave of liquidations this week.  The US Government Did Not Sell Its BTC In a post on Friday, CryptoQuant analyst IT Tech called attention to a wave of online, “coordinated fake news” related to the US...

The past seven days saw the cryptocurrency market lose close to $100 billion off its total capitalization, which currently sits at $1.150B. It’s not been very fun for market participants as the majority of coins are trading well in the red. Once again, the hottest story of the week might as well be PEPE, but not for the same reasons as last week. Let’s dive in. First things first, Bitcoin’s price crashed by roughly 9% through the past week and is currently trading at around...

Bitcoin is up (YTD), banks are collapsing, and the Federal Reserve seems to be approaching the end of its monetary tightening mission. Does that mean the bull market is back in action? CryptoPotato spoke with crypto market analytics firm CryptoQuant at Consensus 2023 to discuss all things related to Bitcoin’s price – including its place in the market cycle, its correlation to gold, and its role during the ongoing US banking crisis. Bullish Times Ahead for Bitcoin When asked...

Bitcoin has been showing relatively bearish price action after a decisive rejection from the $30K resistance level, while also losing key support recently. Yet, there are still multiple crucial zones for the price to rely on. Technical Analysis By: Edris The Daily Chart The price has been consolidating below the $30K resistance level following a failed breakout earlier in April. The 50-day moving average has also been broken to the downside around the $28K mark as a result of...

For some, the Ordinals craze has wreaked havoc in the Bitcoin ecosystem. BTC’s price may have, so far, failed to capitalize on it, but that was not the case for the network miners. In fact, the development has been a blessing in disguise for them. Bitcoin Miner Revenue Shoots Up This month was marked by skyrocketing transaction fees and network congestion as Bitcoin Ordinals reached unprecedented heights. While Bitcoin’s price is cautiously recovering with modest gains, the...

Bitcoin’s price has been trending to the upside since the beginning of 2023. However, it has been showing signs of a reversal recently, following a clear rejection from the $30K resistance level. Technical Analysis By: Edris The Daily Chart The price has been consolidating since it failed to break above the $30K resistance level. The 50-day moving average has been providing support but is currently getting broken to the downside around the $28K mark. In the event of a valid...

The broader cryptocurrency market failed to chart any notable changes in the past seven days, with the total capitalization remaining more or less what it was back then. This comes on the back of slight volatility in between, but nothing that could have been sustained. That said, there’s an obvious exception in the face of the freshly-minted and now-trending PEPE coin. Let’s dive in. Bitcoin is trading more or less where it was exactly seven days ago – at $29K. The...

Santiment – a crypto markets intelligence platform – has a bullish outlook on Bitcoin after the Federal Reserve increased its benchmark interest rate by another 25 basis points on Wednesday.  In a follow-up blog post, the firm claimed that the top crypto is showing “some promising rise potential” – particularly as its correlation to equities continues to weaken.  What’s Next for Bitcoin? In its latest insight report, the company said that the market’s initial reaction to the...