Tag Archives: btcusd

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 Prime Minister of Liechtenstein – Daniel Risch – said the local lawmakers plan to enable bitcoin payments for various government services. However, he did not disclose whether the country will adopt the primary cryptocurrency as a legal tender.  Another country that has turned its focus toward BTC is Liechtenstein’s western neighbor – Switzerland – and, more specifically, the city of Lugano. The domestic authorities have developed an infrastructure to make Bitcoin,...

MicroStrategy – the business intelligence company co-founded by Michael Saylor – has purchased bitcoin each quarter since August 2020. The company is the largest corporate holder of the primary cryptocurrency, owning 140,000 BTC. It accumulated its stash at an average price of $29,803, meaning it currently sits on a minor unrealized loss. Adding More BTC During Every Quarter Despite the volatile nature of bitcoin and the 2022 bear market that disrupted the cryptocurrency...

Bitcoin failed to conquer the $30,000 level yesterday, and the subsequent rejection drove it south by over $1,500. The altcoins are Laos slightly in the red on a daily scale, with ETH struggling to remain above $1,900 and SHIB dumping by over 4%. Bitcoin Back at $29K After the unfavorable start of the week, which saw BTC slumping to under $27,800, the asset began its recovery almost immediately and spiked to $29,000 by Thursday. This came even after the US Fed’s latest...

Bitcoin initiated a leg up in the past 24 hours that brought it just inches away from the coveted $30,000 line. However, the asset is yet to breach it. The altcoins are also on the rise, with ETH nearing $2,000, while SOL and UNI are up by 4% daily. However, the day belongs to PEPE and Floki Inu. Bitcoin Stopped Ahead of $30K The working week, which was also the beginning of the new month, started on a bad note for bitcoin, which slipped by roughly two grand in hours to a...

The Casablanca Court of Appeals ruled that the 21-year-old Frenchman – Thomas Clausi – will serve an 18-month prison sentence for orchestrating a crypto scheme. The defendant must compensate the victims of his scam and pay a fine of 3.4 million euros ($3.7 million) to customs authorities.  Crypto fraudsters have been quite inventive recently, draining significant sums from investors. Fortunately, law enforcement agencies have arrested and sent to jail some of them.  For...

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...

According to data from the crypto financial service platform Matrixport, the narrowing wedge that has been in formation for the past three weeks is about to break to the upside. Such a trend could project a move higher by an equal amount to the range at which the triangle started to form. A breakout could lead to a 6,100-point move higher in the price of Bitcoin, which establishes a target of $35,000-$36,000. Such an uptrend would represent nearly 20% gains from the current...

Amid the unfolding banking crisis and interest rate hikes, Bitcoin has been showing strong resilience attempting another breakout above $30,000. On Wednesday, May 3, the US Federal Reserve announced another 25 basis points rate hike taking the US funds rate to more than 5% for the first time since 2007. In hours after the Fed announced the rate hike, Bitcoin (BTC) made a quick surge of more than 2% taking the price above $29,000. This Bitcoin price surge amid the recovery in the broader...