Tag Archives: Bitcoin (BTC) Price

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...

Considering the technical and on-chain data, a possible bounce back in the short term is possible. Though, in an uncertain environment from the macro perspective, a strong price recovery seems less likely. Technical Analysis By: Edris Daily timeframe: The downtrend in Bitcoin’s continues as we approach the bulls’ last stronghold. The daily chart shows that the price has been consolidating extensively over the previous year. We are currently moving down towards the lower band...

Crypto markets experienced the sharpest drops since July of 2021, correcting as much as 52%. While the macro bear scenario is still very much in play, some critical on-chain indicators are showing how long-term investors remain unfazed by this news, and whales continue to accumulate. Bitcoin’s Ownership Through the Dip The data from IntoTheBlock classifies as hodlers all addresses that have been holding an asset for a weighted average time of at least one year. Growing...

Bitcoin’s price went turbulent during a press conference following today’s highly anticipated Federal Open Markets Committee (FOMC) meeting. It fell $1000 as Federal Reserve Chairman Jerome Powell restated plans to raise the federal funds rate in March. In his speech preceding the conference, Powell recognized that much of the labor force is unable to report for work, given current circumstances. However, he expects the effects of the Omicron wave to be brief, alongside its...

During the recent weeks, the cryptocurrency markets have plunged due to fear at the macro-level (risk off). In this analysis, we will take a closer look at the bitcoin price from the Technical, Onchain, and Options Markt standpoints and discuss the possible scenarios in the short and mid-term. Technical Analysis By: Shayan Long-Term Analysis We can observe how the price organically evolves into a larger corrective structure following the first bullish impulse phase. A few...

Arthur Hayes – co-founder of BitMEX – just gave an interesting Bitcoin price forecast in his bi-weekly analysis. Despite his expectations that the Federal Reserve won’t raise interest rates, he still doubts Bitcoin’s bottom will arrive until a $28,500 retest. Calling the Fed’s Bluff In BitMEX’s latest post from Crypto Trader Digest titled “Bottomless,” the former CEO extols cryptocurrencies as the “last free market on earth”. He explained that due to “wanton” money printing,...

In an indecisive spot market, the low liquidity in the order book allows the aggressive traders to take control, leading to unexpected volatility. Currently, the futures market may see more liquidations before any price recovery. Technical Analysis Daily Timeframe The image below shows that bitcoin is in a strong downtrend, and the bears are in charge. However, we’re in a zone that can hold the price for a few days or even weeks. Additionally, the RSI indicator, which helps...

Bitcoin will help New York to send a message to the world that the city is open to adopting new and innovative technologies, said mayor Eric Adams. He also showed no regrets about receiving his first paycheck in BTC amid the market meltdown. Bitcoin Sends a Message Ever since last year’s elections, Eric Adams has displayed a pro-cryptocurrency approach, insisting that he will receive his first paychecks in BTC and also transform the Big Apple into a bitcoin hub. While his...

The past hours saw a massive sell-off, causing an unexpected and enormous plunge to sub-$40K in the price of Bitcoin. The onchain data is showing an absolute capitulation phase in the market, which was intensified by long-term holders just before the crashing to $35K. Long Term Analysis: The Daily Chart Yesterday, Bitcoin lost a critical support range at $37K – $40K. As shown in the chart below, before the price decline beneath $40K, both 50-DMA and 100-DMA lines have crossed...

The cryptocurrency market lost over $400 billion worth of its capitalization in the past few days alone. The total market cap currently sits below $1.7 trillion. This came as most of the coins are down tremendously in the past week. Ethereum is down 27.7%, BNB is down 27.8%, ADA is down 17.6, SOL is down 36.2%, and so forth. Bitcoin’s price is currently sitting around $35K and has lost almost 20% in the same time frame. From a technical perspective, it’s important to note...