Bitcoin's current market structure is similar to its setup before reaching its all-time high in November 2021, suggesting a potential bullish trajectory for the leading cryptocurrency, according to crypto expert Credible Crypto, who believes a breakout from the accumulation range could lead to a 120% rally and new all-time highs this year. However, a drop below $24.8k would invalidate this prediction.
Bitcoin, the top cryptocurrency, reached a two-month low due to risk aversion in global markets triggered by concerns about China's economy and U.S. interest rates, as well as a report that Elon Musk's SpaceX sold its bitcoin holdings.
The recent price pullback in Bitcoin and the cryptocurrency market is not surprising, as most risk assets typically suffer when the S&P 500 falls; however, volatility for both Bitcoin and the S&P 500 is declining, which suggests mainstream migration and a potential lack of price-pump potential for Bitcoin.
The cryptocurrency market has experienced a notable downturn, with the total market capitalization falling by 10% and triggering significant liquidations on futures contracts, attributed to factors such as rising interest rates, inflation, delays in approving a Bitcoin exchange-traded fund (ETF), financial difficulties within the Digital Currency Group (DCG), regulatory tightening, and a strengthening US dollar.
Bitcoin and Ether rose over 3% to reach their highest prices in a week, while Solana, NEAR, Cardano, Polkadot, and Binance's altcoins also experienced gains, following a surge in traditional markets; however, experts predict that the downtrend in digital assets may continue for the next few weeks.
Bitcoin price reaches a 2-month low, but crypto analyst Michaël van de Poppe predicts a positive change in the future due to market cycle theories and the upcoming Bitcoin halving in 2024, potentially reaching a price of $50-55K pre-halving.
Bitcoin's price rose nearly 5% to just below $26,800, driven by a rally in traditional markets and increased trading volumes, while bankrupt exchange FTX seeks to sell its crypto holdings with the help of Galaxy Digital and Binance discontinues its crypto-backed debit card in Latin America and the Middle East.
Bitcoin and other cryptocurrencies are on the rise, driven by an optimistic market sentiment and positive earnings from Nvidia.
Key social metrics suggest that cryptocurrency markets may soon rebound, as the use of the term "bear market" has reached an 11-week high on social media platforms, which historically indicates that price rises are likely; additionally, deep-pocketed investors are accumulating Bitcoin again, contributing to a recent rally.
Bitcoin remains on track for a massive bull cycle despite recent price decline, as indicated by broader indicators of its price patterns and the use of logarithmic growth curves. The 200-week moving average is seen as less significant as a key price support level for Bitcoin, and the analyst is also looking for an entry point for Ethereum.
Bitcoin prices experienced a sudden drop last week, with analysts attributing it to large liquidations of perpetual futures and a report that SpaceX had sold the cryptocurrency, while industry insiders have mixed opinions on the impact of spot bitcoin ETFs and Coinbase's investment in Circle.
Ethereum's price has surpassed Bitcoin's in the second half of 2023, as investor sentiment towards Ethereum has improved and Bitcoin dominance has declined, indicating a shift towards altcoins; Ethereum's oversold status and resilient consolidation above $1,500 suggest a potential bullish reversal in the coming days, but a drop below $1,500 is possible if bears gain control.
Bitcoin and Ether remain stable as cryptocurrency investor sentiment remains cautious, although JPMorgan analysts report a slowdown in downward price momentum, and the Forkast 500 NFT Index gains after a surge in sales of Donald Trump's signature NFT collection following his arrest.
Bitcoin's price is closely linked to stock prices and has seen significant growth, outperforming Amazon over a 12-year period, according to Bloomberg analyst Mike McGlone; however, he is skeptical about its move into the mainstream and warns of potential price declines when the masses invest. Other analysts speculate on Bitcoin's price, with predictions ranging from a dip to $23,500 to exceeding $30,000 by year-end. McGlone is known for identifying unique trends in Bitcoin, and JPMorgan suggests that the recent crypto asset selloffs are mostly over.
Bitcoin prices surged 7% as traders reacted to the potential approval of the Grayscale Bitcoin spot ETF by a federal appeals court, although cautious optimism remains as final decisions have yet to be made and trading volume in the digital asset market remains low.
Bitcoin could experience a major market correction in September, potentially dropping by more than 16% based on historical performance and predictions by crypto analyst Benjamin Cowen.
Bitcoin pulled back from its all-time high above $28,000 as investors analyzed the implications of Grayscale's court victory against the SEC, with the cryptocurrency dropping 2% to $27,240, while Ether decreased 1.7% to just above $1,700, leading to a decline in the broader crypto market.
Crypto prices, including bitcoin and major tokens, experienced a decline due to profit-taking and a general risk-off environment, erasing gains from Grayscale's court victory, with prices weakening ahead of the U.S. jobs report release.
Bitcoin's value dropped 4.91% to $25,957, losing $1,341, while the price of Ether, a coin linked to the ethereum blockchain network, also declined.
Bitcoin's spot trading volumes for the current quarter have been significantly lower compared to previous quarters, potentially indicating a decline of around 14% month over month, while Ethereum's trading volumes are also at a level not seen since 2019, suggesting a similar trend for the cryptocurrency.
Despite the current market conditions, a crypto strategist believes that Bitcoin (BTC) could experience a significant upward movement, potentially forming a bullish higher-low setup after a possible drop to around $23,600.
Bitcoin and other cryptocurrencies are experiencing a decline as analysts predict further decreases ahead.
Ether (ETH) is expected to outperform bitcoin (BTC) in the short term due to the likely approval of a futures-based ETF, creating buying pressure and potentially boosting ether's price, according to crypto market analytics firm K33 Research.
Bitcoin (BTC) has remained stagnant below $26,000, with investors waiting for further developments in the cryptocurrency market and the wider economy, while Ether (ETH) is expected to outperform BTC in September and October due to the potential approval of the first ether ETF in mid-October. Additionally, SOMA Finance plans to sell tokens that represent a financial interest, addressing the criticism that crypto tokens lack equity or debt claims. Binance continues to dominate the crypto market as the leading exchange.
Despite the recent downturn in the crypto market, a key Bitcoin metric shows that 95% of the existing supply of Bitcoin has not moved in the past 30 days, indicating strong holding behavior and potential for a price rally with a buy-side catalyst.
Bitcoin and other cryptocurrencies rose on Friday, but trading volumes remained low, indicating a lack of wider interest in the crypto space.
The price of bitcoin rebounds by 4.5% as fears around FTX liquidations ease and investors cover short positions, but uncertainty remains due to weakened momentum and lack of clear market catalysts.
Cryptocurrency prices remained stable as inflation in the U.S. surpassed economists' expectations, with Bitcoin trading at around $26,100 and Ethereum experiencing a slight dip of 0.5%. The Federal Reserve will consider this report, among other factors, for its upcoming interest rate announcement on September 20. While inflation has decreased since June, it still exceeds the Fed's target of 2% annually. Core inflation, excluding volatile food and energy costs, decreased to 4.3% in August compared to July's 4.7%.
Bitcoin (BTC) reached new September highs as markets reacted positively to macroeconomic and crypto industry news, with the cryptocurrency trading at around $26,300, up 5.5% from its September lows; traders have expressed optimism about Bitcoin's recent performance and potential future breakout if a Bitcoin spot price ETF is approved by U.S. regulators in the coming months, while some remain cautious and predict a potential relief rally before a further decline in on-chain volume.
August saw the crypto markets experience a downturn, with Bitcoin and Ether losing significant value due to liquidations on the derivatives market, while venture capital investment in the blockchain industry hit a new low and derivatives drove negative sentiment for Bitcoin.
Bitcoin and other cryptocurrencies advanced on Friday, but a key technical indicator suggests that losses are likely coming.
Ether's price has recovered 6% after hitting a critical support level, but questions remain about whether it can reach $1,850 due to challenges such as regulatory uncertainty, high network fees, and declining smart contract activity. Additionally, derivatives metrics indicate reduced interest from leveraged long positions, suggesting a bearish sentiment in the market.
Bitcoin price may experience a 10% drop before its next move upwards, while Ethereum could follow suit and fall by 10% as well, and Ripple's price is poised for a significant move after breaking a major trendline.
Bitcoin and other cryptocurrencies have seen a rise in price as traders anticipate a potential macroeconomic catalyst that could lead to a significant movement in the market.
Bitcoin, ethereum, BNB, and XRP have experienced a strong price rally in 2023, but a small cryptocurrency has surpassed them, while the Federal Reserve's interest rate decisions could impact the bitcoin price.
Bitcoin (BTC) surpasses $27,000, while ether (ETH) holds support levels, but interest-rate decisions this week may bring downward pressure; overall market capitalization grows just 0.4% in the past 24 hours.
Bitcoin's market dominance rate has reached its strongest level in a month, rising to 50.2%, as risks rise for the rest of the cryptocurrency sector, while alternative cryptocurrencies may be on the brink of breaking lower.
Bitcoin is expected to mimic its previous rally and potentially see significant gains in the near future, according to crypto strategist Credible Crypto, who points to a bullish engulfing candle pattern and the defense of a key support level as positive signs for BTC's upward momentum.
Ether (ETH) has experienced a modest increase in price in 2023, but it is still trading significantly below its peak in November 2021, raising questions among investors about the reasons behind the decline and potential catalysts for a reversal. The ongoing legal battle between Ripple and the SEC, as well as regulatory uncertainties surrounding the Ethereum ICO, remain sources of concern. However, positive surprises such as the request for a spot Ether ETF and Ethereum's position to benefit from Bitcoin-related catalysts give hope to investors.
Ether (ETH) has dropped 2% this week, with prices expected to remain steady due to hedging activity of options market makers, who will buy low and sell high in the spot market to limit price volatility.
Ether (ETH) has shifted from being deflationary to inflationary due to decreasing network activity on Ethereum, which could negatively impact the token's price, according to analysts. The decline in network fees and the adoption of layer 2 networks have contributed to the increase in ETH supply, reversing its previous deflationary trend. This has raised concerns among crypto observers who predict bearish developments for ETH, including a potential drop to as low as $1,000.