Tag Archives: btcusdt

Bitcoin’s price run after the Fed’s rate cut was halted at $64,000 and the asset was pushed down by around a grand. The altcoins are also in the red on a daily scale, with the biggest corrections coming from the likes of TON, AVAX, and NEAR from the larger caps. BTC Down to $63K Bitcoin started the business week with a correction that drove it from over $60,000 to under $58,000 on Monday. It was expected to be a highly volatile week for the asset as the US Federal Reserve had...

There’s been no shortage of news over the past seven days. During this period, the total cryptocurrency market capitalization managed to add close to $140 billion. This happened on the back of significant gains charted by the majority of coins, so let’s take a closer look. First things first, the long-anticipated rate cut is now a fact. The US Federal Reserve announced on Wednesday that it is decreasing interest rates by 0.5%, a considerable move that sent ripples across all...

Bitcoin’s price finally looks set to break back above the $60K level after weeks of consolidation. However, there is still one more key resistance level that the price needs to overcome. Technical Analysis By: Edris Derakhshi (TradingRage) The Daily Chart On the daily timeframe, Bitcoin’s price is demonstrating a willingness to finally break above the $60K resistance level, following its rebound from $52K. The RSI also shows values above 50, indicating that the market...

The Federal Reserve announced on Wednesday that it will lower its benchmark interest rate by 50 basis points, marking the central bank’s first cut since the start of the COVID-19 pandemic. Immediately after the announcement, Bitcoin’s price rocketed back above $60,000, while the S&P500 shot up by 0.7%. The central bank said it has gained ‘greater confidence” that inflation is heading back down to 2%, even though it remains somewhat elevated. “Job gains have slowed, and...

TL;DR Bitcoin shows signs of a potential rally, with some analysts predicting a jump to a new all-time high. Conversely, increased exchange inflows suggest possible short-term selling pressure. Good News for the Bulls? Bitcoin’s price witnessed enhanced ups and downs in the past week, ranging from $56,000 to over $60,500. Currently, it trades at around $59,200, representing a 1% increase on a daily scale. BTC Price, Source: CoinGeckoDespite its wobbly performance lately,...

Typically, a greater flow of new dollars to target lower interest rates inflates the prices of equities and fixed-income bonds. Since the advent of cryptocurrencies, financial markets have found that this new asset class is especially responsive to interest rates and bears an inverse correlation to them. Correlation Spotted: Bitcoin and Interest Rates A recent report from the Fidelity Active Investor Learning Center notes, “While central banks do not control cryptocurrencies,...

Bitcoin’s price is still consolidating around the $60K level. Yet, an impulsive move might begin soon. Technical Analysis By Edris Derakhshi (TradingRage) The Daily Chart On the daily timeframe, it is evident that the price has yet to climb back and recover definitively above the $60K level after its rapid rejection and drop from the 200-day moving average, located around $63K. Following the recent rebound from the $52,500 level, the price has once again tested the pivotal...

Bitcoin has recently experienced a strong bullish reversal from a critical support zone, defined by the 0.5 and 0.618 Fibonacci levels. BTC is now approaching the 100-day moving average at $61.6K, where it may encounter significant selling pressure, suggesting a potential short-term consolidation. Technical Analysis By Shayan The Daily Chart A closer examination of Bitcoin’s daily chart reveals that after a decline toward the key support zone between the 0.5 ($56.3K) and...

The price of bitcoin (BTC) has entered a bearish phase, stemming from the asset’s constant decline and range-bound movement. As a result, the largest cryptocurrency has decoupled from gold. According to CryptoQuant analysts, bitcoin’s price has been declining while the yellow metal has rallied to new record highs, causing their correlation to turn negative. Bitcoin Decouples From Gold The negative correlation between bitcoin and gold reflects a risk-averse environment where...

The cryptocurrency markets have remained relatively calm in the past 24 hours, with most coins trading flat. Their total capitalization is currently around $2.2 trillion. Bitcoin’s Price Flirts With $60K The BTC price didn’t experience significant volatility during the past 24 hours. At one point, the bears attempted to push it toward $59.5K, but the bulls were quick to intervene and recover above $60K, where it’s currently trading. All in all, this concludes a week of...