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.
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.
Bitcoin may experience a period of stagnation before turning bullish again, according to crypto analyst Jason Pizzino, who believes that the cryptocurrency could remain in its current pattern for the next couple of months before potentially surging in late 2021 or early 2024.
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.
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 (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 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'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.
Ethereum's price has been declining, leading to concerns among investors, but there are two factors to consider: a drop in user activity and transaction volume on the Ethereum blockchain, which may be due to users migrating to faster and cheaper Layer 2 blockchains, and selling by Ethereum "whales" and insiders, including co-founder Vitalik Buterin, which could be attributed to profit-taking and security measures rather than a lack of confidence in Ethereum's future prospects. Despite the market's overreaction, Ethereum remains a strong investment with its dominance in various business segments and ongoing development plans.
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.
Bitcoin (BTC) remains near a key long-term trendline as the U.S. dollar strengthens, with market participants predicting further downside for BTC and altcoins.
Big tech stocks and cryptocurrencies, including Bitcoin, may underperform in the coming years due to contracting market liquidity and the Federal Reserve's hawkish policies, according to crypto analyst Nicholas Merten.
The recent decline in the price of Bitcoin has raised concerns of a larger market downtrend, with Ethereum and Ripple also at risk of falling if Bitcoin weakens further.
Bitcoin's hash rate is near a record high, addresses holding 0.1 BTC are at an all-time high, and the amount of Bitcoin held on exchanges is declining, indicating bullish fundamentals for the cryptocurrency.
Bitcoin has the potential to rally and reach a new high in 2023, according to an analyst, who also states that the current price action looks constructive after a period of downward trend.
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'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 and Ether fell below key price levels as cryptocurrency markets retreated following the US Federal Reserve's hawkish stance on interest rates, with more downward movement expected for Bitcoin as it fails to break its 50-day moving average, while Ether's failure to rally above the $1,650 support level could have significant implications for altcoin sentiment.
Bitcoin and other cryptocurrencies experienced a decline, approaching significant price levels, in response to a broader downturn in assets sensitive to risk and the anticipation of various macroeconomic factors impacting cryptocurrencies in the near future.
Bitcoin is on the verge of reaching levels that offer accumulation opportunities and could potentially start an uptrend, according to crypto trader Michaël van de Poppe, who compares the current price action to that of a pre-halving year.
Bitcoin could face difficulties in the long term due to tightening liquidity in the current macroeconomic environment, according to crypto analyst Nicholas Merten. Merten believes that Bitcoin's price is heavily influenced by monetary policy and warns that if sentiment turns bearish, investors may start cashing out.
Bitcoin could potentially experience a short-term reversal due to recent price increases, and the underperformance of ether futures exchange-traded funds (ETFs) has had a negative impact on major cryptocurrencies.
Bitcoin and other cryptocurrencies experienced a slight decline along with the wider market, but analysts are optimistic that the recent uptrend will persist.
The CoinDesk Market Index (CMI) declined by -11% in the past quarter, with Bitcoin outperforming by -10.9% and Ether underperforming at -12.5%; however, Bitcoin and Ether have still shown impressive gains of 64% and 41% respectively for the year, highlighting their resilience as top-performing assets. Regulatory pressure on alternative tokens continues to drive a bifurcation in the crypto market between Bitcoin and Ether and other digital asset protocols, while the computing and DeFi sectors were relative outperformers in Q3 2023. The reduced level of risk, lower volatility, and decreased correlation with traditional equities suggest a maturation of the market or market illiquidity. Rising bond yields and tightening financial conditions may pose headwinds for crypto price appreciation, but the approval of a Bitcoin spot ETF could be a catalyst for breaking through these macroeconomic headwinds, enabling broader investor access and institutional adoption.
Investors are showing a preference for ether over bitcoin in a high interest rate environment, with ether futures ETFs experiencing low volumes and the ether-bitcoin ratio reaching its lowest point since July 2022. The underperformance of ether relative to bitcoin is attributed to the bear market and the potential for continued underperformance due to the higher interest rate environment. Bitcoin's status as a digital gold and its regulatory advantages also contribute to its favorability over ether.
Bitcoin and other major cryptocurrencies are struggling to maintain their early 2023 gains due to the U.S. government's crackdown on crypto, prompting billionaire hedge fund manager Paul Tudor Jones to stockpile bitcoin and gold amid the "cataclysmic" fiscal situation in the country.
Bitcoin has historically performed well on Friday the 13th, with prices rising an average of 1% on the day and surging by 14% and 66% in one and three months, respectively, afterward; however, there are concerns of a corrective phase within the crypto market due to challenges facing Ethereum and signs of weakness in the crypto markets.
Cryptocurrency prices, including Ether (ETH), have fallen for the fourth day in a row due to a slightly higher-than-expected inflation report, with ETH reaching its lowest price since March; meanwhile, Bitcoin (BTC) remains relatively stable, potentially benefiting from its perceived safety during uncertain times.
The crypto market experienced a significant downturn this week, with Ethereum being hit particularly hard, trading at its lowest point since March. Other major coins and tokens, including Toncoin, Solana, Ripple, Polygon, and Bitcoin Cash, also suffered losses. Only Bitcoin saw a relatively smaller decline.
The bitcoin and wider crypto market have lost momentum after a strong start in 2023, but billionaire Warren Buffett continues to profit from bitcoin, and there are predictions of trillions of dollars entering the crypto market, leading to a massive price bull run.
Bitcoin's demand has surpassed Ethereum's due to the buzz surrounding a potential Bitcoin ETF and the upcoming halving, causing Ethereum's native token, Ether (ETH), to trade at a 15-month low against Bitcoin.
Bitcoin is poised for another meteoric rise due to the return of money printing by the US government, according to a trader who accurately predicted the end of the crypto's bull market in 2021, with Bitcoin potentially reaching a new all-time high of $180,000.
Bitcoin outperformed the cryptocurrency market as Ethereum and DeFi tokens experienced declines, with BTC reaching its highest market share since April 2021.
Bitcoin outperformed the cryptocurrency market as Ethereum and DeFi tokens slid, with BTC rising to near $28,500 and its market share reaching over 52%, the highest since April 2021.
Ether (ETH) has underperformed bitcoin (BTC) this year and this trend is likely to continue as the U.S. Treasury bond market shows signs of dis-inversion, which could have a greater negative impact on ether than bitcoin.
Ethereum reaches a significant moment for crypto adoption by surpassing 100 million addresses with a balance, while Bitcoin holds an average time of 4.2 years and Ethereum's average daily transactions have dropped 36% from its peak level.
Summary: Mining stocks have significantly outperformed Bitcoin this year, with the average return of the top public mining companies standing at 148.59%, compared to Bitcoin's 84.61% increase, due to higher beta and increased revenue from Bitcoin mining activities and new use cases like Ordinals. However, mining firms are preparing for the upcoming halving event, which may pose challenges to their profitability and business models.
Bitcoin (BTC) reached its highest level in 2023 as the possibility of a spot BTC exchange-traded fund (ETF) launching soon increases, attracting institutional money into the digital assets market, while stocks also climbed higher and analysts remain cautious about overexposure and the inverted yield curve.
Bitcoin and other cryptocurrencies experience a decline after a recent rally, but still remain close to the year's peak, as traders anticipate further advances.
Bitcoin's bullish momentum has extended to the wider crypto market, with all sectors experiencing gains, while US equities, particularly big tech, have underperformed, suggesting a shift in the investment landscape.
