Tag Archives: Bitcoin (BTC) Price

After more than two weeks of trading below $40,000, bitcoin finally made a decisive move to reclaim that coveted level. The entire crypto market followed suit with massive daily price increases from Ethereum, Binance Coin, Cardano, Sollana, Polkadot, and many others. Bitcoin Surged $4K It was on January 20th and 21st when the primary cryptocurrency slumped below $40,000 for the first time in months. In the following few weeks, the asset failed to recover most of the losses...

According to recent figures, the U.S. added 467,000 new jobs in January alone, despite worries about Omicron leaving various businesses short-staffed. Bitcoin traded slightly lower following the reveal. A Surprisingly Strong Labor Market The recent employment figures were published in a report by the US Labor Department’s Bureau of Labor Statistics earlier today. While total nonfarm employment rose by over 400k jobs, the unemployment rate only slightly increased from 3.9% to...

The total cryptocurrency market has managed to recover a considerable chunk of its capitalization, with Bitcoin currently pushing above $40K. However, excluding today, we saw a serious correlation between Wall Street and crypto, but may this be coming to a halt? Bitcoin’s price recovered over 8% in the past seven days, but let’s break it down. This time last week, things were looking quite depressing, and BTC was failing to break out and dipped on Monday. It spiked towards...

Bitcoin’s price shot up in the past couple of hours in two massive consecutive green candles, leaving bears underwater and attempting to reclaim the coveted $40K level. Over the past two hours, bulls took complete control of the market momentum and managed to push BTC’s price to almost $40K (on Binance). This comes following a couple of green days after BTC dropped to $33K yesterday, charting a recovery of almost 20% in the interim. Source: TradingView In the meantime, data...

The technical indicators are showing weakness in the short term. The onchian activity of retailers as a reaction to volatile market is still rising. This can be translated to the high probability of a side chopping market in the mid-term. In a low trade volume phase, such as the current market condition, capitulation events are expected more than ever. Technical Analysis By: Grizzley Long-Term: On the daily timeframe, the recent uptrend was stopped by touching the low band of...

While bitcoin is recovering from its massive 50% crash since reaching the ATH in November 2021, the onchain and technical indicator are not showing strong momentum and signs of a bull run renewal. The market structure is similar to 2021’s Jun – July bottom, and without a catalyst, a likely case for bitcoin is to be traded sideways in the mid-term. Technical Analysis By: Grizzley Long-Term: The Daily On the daily timeframe, by examining historical data of the previous two...

History shows that January tends to be a rather negative month for bitcoin in terms of price performance. The 2022 edition didn’t go well either, as it became the third-worst January in the past decade with a near 17% decline. January 2022 Ended With Substantial Retracement Ever since the middle of November, when the entire crypto landscape seemed highly bullish riding the waves of the first-ever Bitcoin futures ETF launching in the US, the market has been in a knockdown...

After a bloody week, the bitcoin price is slowly recovering, following a 50% drop since recording the ATH level of $69K during November 2021. The following analysis will discuss two possible scenarios going forward, from a technical point of view. Technica Analysis By: Shayan Long-Time Frame: The Daily Looking at the daily chart, the BTC price has been recovering since it plunged over 50%, plunging below $33K last Monday. However, Bitcoin is still beneath two critical...

Bitcoin tried to take down $39,000 but was stopped and dropped to its current level of around $38,000. Most altcoins are slightly less fluctuating today, with Ethereum standing at $2,600. Chainlink and Axie Infinity are among the best performers. Bitcoin Stands Still at $38K It was just a few days ago when the primary cryptocurrency dropped two consecutive times to $35,500 after failing to overcome $36,000. However, the bulls stepped up at this point and pushed the asset...

Bitcoin’s recovery attempts continue with the asset aiming to overcome $38,000. Most alternative coins have produced even more significant gains since yesterday. Ethereum is up by 7%, while Solana has jumped by 8%. Bitcoin Eyes $38K Ever since bitcoin failed to breach $39,000 on Wednesday, as the Federal Reserve said it will increase the interest rates in March, the asset was unable to display any notable gains. In fact, it dropped to $35,500 hours after the Fed meeting and...