Tag Archives: Bitcoin (BTC) Price

The past seven days were filled with a lot of information as the situation around FTX keeps unraveling. The former CEO of the exchange – Sam Bankman-Fried, had multiple appearances, but they may have spurred more questions than they answered. Before we get there, though, it’s important to note that the market managed to add around $20 billion to its capitalization, which is a step in the positive direction. Bitcoin managed to gain 2%, while ETH is up a total of 6% in the past...

Jerome Powell – Chairman of the Federal Reserve – recently spoke about the future of macroeconomic policy and U.S. inflation at the Brooking Institution. As is typical, Bitcoin’s price was affected by his comments, rising by 1% just as his speech began.  As of 18:13 UDT on Wednesday, Bitcoin traded for $16,780. The price then shot up to $16,850 at 18:30, when he began to speak. By 18:40, the leading crypto asset traded for $16,960. Over the past 3 months, the Federal Reserve...

The revenue Bitcoin miners receive is tumbling amid the depressing market conditions and lower prices. Somewhat expected, as the BTC dollar value goes down, so do the proceedings from mining. Data from Blockchain.com reveals that the revenue bitcoin Miners get is tumbling ever since the all-time high reached last year in November. At the time of this writing, it stands at around $11,670,337 for November 26th – the lowest it has been in exactly two years. Source:...

Bitcoin’s price action has rebounded significantly while testing key support levels. The next few days could determine whether the market would start a mid-term recovery or the gruesome downtrend would still continue. Technical Analysis By: Edris The Daily Chart: Looking at the daily chart, the correction has been halted over the last couple of weeks above the $16K support level. Regardless, bullish momentum is still lacking, and the price has failed to retest the $18K level....

Bitcoin crashed back beneath $16,000 on Monday, marking another 2-year low of $15,588.  Bitcoin began to show weakness at $16,000 at roughly 16:30 UDT, when the price briefly wicked down to $15,917. The asset then recovered to roughly $16,000, before crashing again to $15,588 at 19:45 UDT.  Ethereum also collapsed below $1,100 to just $1,084 at the time. The last time Bitcoin’s price touched these lows was in early November 2020, prior to Bitcoin’s bull market run that took...

The past year or so has not been kind to the primary cryptocurrency, following many industry and macroeconomic adversities. Even though the asset has lost roughly 80% of its value since the all-time high last November, some estimations show that it could drop further, perhaps to the four-digit territory. It was approximately a year ago when the industry was booming, led by the massive gains charted by the largest cryptocurrency. Perhaps fueled by the futures ETF launched in...

It’s clear that the market remains fearful of potential contagion from the FTX fallout. As a result, market participants are offloading their assets from the exchanges, which might trigger the last phase of this bearish cycle’s capitulation. Technical Analysis By Shayan The Daily Chart The market has likely entered a new phase of short to mid-term consolidation as the price dropped significantly. Nevertheless, during the consolidation phase, the price might retest the...

Market participants are going through a period of fear and uncertainty as the FTX exchange has recently announced bankruptcy after facing a massive liquidity crunch. As a result, Bitcoin plunged and marked a new low at $15.5K. Technical Analysis By Shayan The Daily Chart The $18K level had been supporting the price for several months. However, Bitcoin was recently rejected and experienced a massive shakeout, plunging beneath it following massive bearish momentum. The market...

The cryptocurrency market continues to bleed out and in the past 24 hours, its total capitalization shed another $20 billion. The majority of coins are well in the red and the broader sentiment remains particularly negative and expects further contagion from the FTX fallout. Bitcoin Price Bleeds Out Bitcoin’s price currently sits at around $16,500, down 2.1% in the past 24 hours. This brings the total loss to about 22.6% in the past week. BTC has been trading relatively flat...

The past couple of days have been a complete rollercoaster in the cryptocurrency field, and there are no signs of slowing down. Just yesterday, FTX officially filed for voluntary Chapter 11 Bankruptcy proceedings in the US, sending the markets into another meltdown. Bitcoin Plunges Toward $16K Bitcoin’s price can’t catch a break. After attempting a recovery following positive CPI numbers Thursday, the cryptocurrency experienced another meltdown on Friday. BTC plunged from...