Bitcoin's price chart resembles the stock market in the 1930s, suggesting that the cryptocurrency could be heading towards a major drop, according to Bloomberg's senior commodity strategist, Mike McGlone.
Bitcoin (BTC) faces uncertainty and fear in the market as it struggles to recover from a 10% crash, with short-term holders experiencing increasing unrealized losses and on-chain transactions setting multiyear highs. Traders are cautious about the outlook, but historical patterns and upcoming events, such as the Jackson Hole Economic Symposium, may provide opportunities for recovery.
Bitcoin's recent correction and retracement of gains linked to BlackRock's BTC ETF application indicate weakness in the market, prompting one crypto trader to stay on the sidelines until Bitcoin either reclaims $30,000 or experiences a major collapse, while also noting that trader sentiment currently favors altcoins.
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 both rose over 3% as the crypto market recovered from its losses last week, while alternative cryptocurrencies also saw gains; however, experts remain divided on the future of prices, with some predicting continued downtrend and others expecting a rebound.
Analyst Nicholas Mertens warns that both Bitcoin and Ethereum are likely to face significant challenges and potential price declines, with Ethereum at risk of breaking support and dropping below $1,000 due to a lack of buyers.
Cryptocurrencies, including Bitcoin and Ethereum, experienced a rise in value as investors anticipated the Federal Reserve's annual meeting and Bitcoin attempted to reach $30,000.
BlackRock's potential involvement in Bitcoin's recent price crash is being investigated, but there are several reasons why this claim may be unfounded and not aligned with the company's interests.
The cryptocurrency market is preparing for a potential larger financial event in September that could significantly impact Bitcoin, Ethereum, XRP, and the wider digital asset landscape.
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.
The current Bitcoin cycle appears to be lining up with previous cycles, showing similarities in the bear market drawdown phase and the convergence of prices after crashes, suggesting that more drawdown may be coming for the price.
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.
Bitcoin (BTC) price remains stagnant and could potentially slide lower, while Ethereum (ETH) and Ripple (XRP) prices are also experiencing a lack of activity, which may have negative implications as markets tend to be impatient.
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 led the cryptocurrency market higher following Grayscale's victory in the lawsuit against the SEC, but analysts caution that the victory does not guarantee the approval of a spot Bitcoin ETF.
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 price dropped below $26,000 as the approval of a Bitcoin ETF was further delayed by the SEC, reversing the bullish gains from the Grayscale court decision earlier in the week. The crypto market also experienced a decline, with Ethereum's price going down by 3.5% and the overall market cap losing $11.2 billion. However, Maker and Toncoin managed to resist the bearish trend with positive gains. The global macroeconomic landscape also added to the uncertainty, as key economic data raised doubts about a potential interest rate hike.
Bitcoin and major tokens have experienced losses as the U.S. Securities and Exchange Commission (SEC) delays key ETF decisions, dampening hopes of a long-term recovery.
Bitcoin's recent legal victories and temporary price surges should not be mistaken for long-term catalysts, as the approval of a spot ETF, liquid staking capabilities, and the upcoming halving event hold the key to sustainable price appreciation.
Crypto markets experienced a "Bart Simpson" pattern for the week, as a sell-off following the SEC's decision to postpone Bitcoin ETF decisions erased Tuesday's rally, resulting in a 3.7% slump in cryptocurrency capitalization.
BlackRock, a major asset manager, is accused of deliberately driving down the price of Bitcoin in order to establish a better buying position for their Spot Bitcoin Exchange-Traded Fund (ETF) if it is approved, according to analyst Crypto Rover. This highlights the influence of big players in the market and reminds retail investors to be more analytical.
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.
Bitcoin, Ethereum, and Ripple prices are in a consolidation phase, with Bitcoin facing a make-or-break support level, Ethereum testing a crucial support level, and Ripple breaking out from a bearish trend but still at risk of a decline.
Bitcoin's recent price drop, despite the potential for future exchange-traded funds (ETFs), may indicate a coming liquidity crisis as loose monetary policies reverse, according to Bloomberg Intelligence senior macro strategist Mike McGlone.
Despite Visa's announcement and warnings from Binance's CEO, major cryptocurrencies such as Bitcoin and Ethereum are struggling in a bearish trend while a top Federal Reserve official expresses deep concern over the $120 billion stablecoin market.
Bitcoin is recovering from a "black swan" event similar to the COVID-19 crash in March 2020, as a spike in loss-making unspent transaction outputs suggests a curveball selling event may be occurring.
Bitcoin's weak performance and its potential "double top" structure raise concerns of more downside, with predictions of new local lows; however, there are indications that Bitcoin may experience a major shakeout before rebounding to "fair value" and the 200-week EMA near $25,600 may offer some optimism; debate ensues over the possibility of Bitcoin filling the $20,000 CME futures gap; liquidity levels on BTC/USD markets continue to increase, adding to bearish predictions; ahead of the Federal Reserve meeting, the United States Consumer Price Index (CPI) data release on September 14 brings potential volatility to the market and may impact crypto market expectations.
A bankrupt crypto firm holding billions of dollars in digital assets could cause a price collapse, with traders selling due to fears of FTX liquidating its $3 billion crypto holdings.
A crypto analyst predicts that Ethereum (ETH) could experience a significant crash and drop to the $400-$800 range, potentially causing losses for both bulls and bears in the market.
Major cryptocurrencies experienced a decline due to concerns over the potential selling pressure from FTX's bankruptcy, as the exchange seeks regulatory approval to liquidate $3.4 billion in crypto assets.
Bitcoin, Ethereum, and other cryptocurrencies have been experiencing a steady decline in prices due to concerns from the Federal Reserve, leading to warnings of a potential price crash, although some analysts remain hopeful for improvement.
Cryptocurrency prices experienced a sharp drop and rebound, leading to $256 million in liquidation losses over the past two days, as traders faced a wave of leveraged position closures due to market fears and sudden price swings.
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.
Bitcoin, ethereum, and other top cryptocurrencies have been struggling recently despite the market conditions, as the bitcoin price drops and Coinbase plans to integrate bitcoin's lightning network, potentially causing crypto price chaos.
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, 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.
