Bitcoin
Bitcoin price reaches $23.4K on 4.6% gains amid ‘very mixed’ outlook
Bitcoin (BTC) rebounded overnight into Aug. 5 as a fresh trendline reclaim opened the door to further gains. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Daily BTC pricechart sets up “tentative” long signal Data from Cointelegraph Markets Pro and TradingView showed BTC/USD bouncing off a local bottom at $22,400 to add around 4.6%. The pair had reversed direction right at key bid support on major exchange Binance, this helping avoid a more substantial loss of the 200-week moving average (MA) at around $22,800. While that key zone remained uncertain for bulls, a reclaim of the 21-period MA on the daily chart gave on-chain analytics resource Material Indicators cause for optimism. BTC/USD might not spark a long signal at the daily candle close, it told Twitter follo...
MicroStrategy stock MSTR hits 3-month high after CEO’s exit
MicroStrategy (MSTR) stock opened higher on Aug. 3 as investors digested the news of its CEO Michael Saylor’s exit after a depressive quarterly earnings report. Microstrategy stock up 142% since May lows On the daily chart, MSTR’s price surged by nearly 14.5% to $324.55 per share, the highest level since May 6. The stock’s intraday gains came as a part of a broader recovery that started on May 12 at $134. Since then, MSTR has grown by 142% versus Nasdaq’s 26.81% gains in the same period. MSTR daily price chart. Source: TradingView Bad Q2, Saylor’s resignation The Aug. 3 MSTR rally came a day after MicroStrategy reported a billion dollar loss in its second quarter (Q2) earnings call. Interestingly, the company’s major Bitcoin exposure was a large re...
Best monthly gains since October 2021 — 5 things to know in Bitcoin this week
Bitcoin (BTC) starts a new week and a new month on a cautiously positive footing after protecting crucial levels. After an intense July in which macro factors provided significant volatility, BTC price action managed to provide both a weekly and monthly candle favoring the bulls. The road to some form of recovery continues, and at some points in recent weeks, it seemed like Bitcoin would suffer even harder on the back of June’s 40% losses. Now, however, there is already a sense of optimism among analysts, but one thing remains clear — this “bear market rally” does not mean the end of the tunnel yet. As Summer 2022 enters its final month, Cointelegraph takes a look at the potential market triggers at play for Bitcoin as it lingers near its highest levels since mid-June. Spot price snatches ...
Top 5 cryptocurrencies to watch this week: BTC, BNB, UNI, FIL, THETA
Bitcoin (BTC) has made a strong comeback in the month of July and is on track for its best monthly gains since October 2021. The sharp recovery in Bitcoin and several altcoins pushed the Crypto Fear and Greed Index to 42/100 on July 30, its highest level since April 6. Investors seem to be making the most of the depressed levels in Bitcoin. Data from on-chain analytics firm Glassnode shows that Bitcoin in exchange wallets has dropped to 2.4 million Bitcoin in July, down from the March 2020 levels of 3.15 million Bitcoin. This has sent the metric to its lowest level since July 2018. Crypto market data daily view. Source: Coin360 Bloomberg Intelligence senior commodity strategist Mike McGlone highlighted that the United States Federal Reserve’s indication to consider rate hikes on a “meeting...
Bitcoin due ‘one of greatest bull markets’ as July gains circle 20%
Bitcoin (BTC) spoofed a breakout to fresh six-week highs into July 31 as a showdown for both the weekly and monthly close drew near. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView “Bart Simpson” greets traders into BTC monthly close Data from Cointelegraph Markets Pro and TradingView showed BTC/USD canceling out all its gains from early in the weekend, dropping from $24,670 to $23,555 in hours. The resulting chart structure was all too familiar to long-term market participants, creating a “Bart Simpson” shape on hourly timeframes. Liquidations nonetheless remained manageable, with the cross-crypto tally totaling $150 million in the 24 hours to the time of writing, according to data from analytics resource Coinglass — less than on previous days. Crypto liquidations chart. ...
Bitcoin bear market over, metric hints as BTC exchange balances hit 4-year low
Bitcoin (BTC) may already be beginning its new macro uptrend if historical “hodl” habits repeat. That was the conclusion from research into the latest data covering the amount of the BTC supply dormant for one year or more as of July 2022. Hodled BTC hints that the bear market is over According to independent analyst Miles Johal, who uploaded the findings to social media on July 29, a “rounded top” formation in “hodled” BTC is in the process of completing. Once it does, the price should react — just like on multiple occasions before. The clue lies in Bitcoin’s HODL Waves metric, which breaks down the supply according to when each Bitcoin last moved. One year ago or more — the one-year HODL Wave — currently reflects the majority of the supply. Johal’s accompanying ch...
Historically accurate Bitcoin metric exits buy zone in ‘unprecedented’ 2022 bear market
Bitcoin (BTC) is enjoying what some are calling a “bear market rally” and has gained 20% in July, but price action is still confusing analysts. As the July monthly close approaches, the Puell Multiple has left its bottom zone, leading to hopes that the worst of the losses may be in the past. Puell Multiple attempts to cement breakout The Puell Multiple one of the best-known on-chain Bitcoin metrics. It measures the value of mined bitcoins on a given day compared to the value of those mined in the past 365 days. The resulting multiple is used to determine whether a day’s mined coins is particularly high or low relative to the year’s average. From that, miner profitability can be inferred, along with more general conclusions about how overbought or oversold the market...
Bitcoin price eyes $24K July close as sentiment exits ‘fear’ zone
Bitcoin (BTC) dropped volatility on the last weekend of July as the monthly close drew near. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView 200-week moving average in focus for July close Data from Cointelegraph Markets Pro and TradingView showed BTC/USD retaining $24,000 as resistance into July 30. The pair had benefitted from macro tailwinds across risk assets in the second half of the week, these including a flush finish for United States equities. The S&P 500 and Nasdaq Composite Index gained 4.1% and 4.6% over the week, respectively. With off-speak trading apt to spark volatile conditions into weekly and monthly closes thanks to thinner liquidity, however, analysts warned that anything could happen between now and July 31. “Just gonna sit back and watch the market up ...
Bitcoin price rejects at $24K as ‘classic short setup’ spoils bulls’ fun
Bitcoin (BTC) saw fresh volatility after July’s final Wall Street open as highs north of $24,000 remained solid resistance. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Resistance strikes BTC at $24,000 Data from Cointelegraph Markets Pro and TradingView reflected bulls’ continuing struggle as BTC/USD lurched around the $24,000 mark on July 29. The pair had attempted to match the week’s local top of $24,450, this ultimately failing to materialize as a resurgent U.S. dollar pressured crypto despite the gains of U.S. stocks . The U.S. dollar index (DXY) continued higher during the Wall Street trading, passing 106 after falling to its lowest levels since July 5. U.S. dollar index (DXY) 1-hour candle chart. Source: TradingView Record eurozone inflation&nbs...
Price analysis 7/29: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, AVAX
Bitcoin (BTC) hit a six-week high above $24,000 on July 29, extending its rally that picked up momentum after the United States Federal Reserve hiked rates by 75 basis points on July 27. If the rally sustains for the next two days, Bitcoin could be on target to close the month of July with gains of more than 20%, according to data from Coinglass. It is not only the crypto markets that have seen a post-Federal Open Market Committee (FOMC) rally. The U.S. equities markets are on track for big monthly gains in July. The S&P 500 and the Nasdaq Composite are up about 8.8% and 12% in July, on track to their best monthly gains since November 2020. Daily cryptocurrency market performance. Source: Coin360 The crypto and equities markets have risen in the expectation that the pace of rate hikes ...
What happens when 21 million Bitcoin are fully mined? Expert answers
When the last Bitcoin (BTC) is finally mined, the livelihood of miners who rely on block rewards as a source of income will be affected. Despite this, the future of mining stays promising, according to an expert in space. In a Cointelegraph interview, Mohamed El Masri, the founder of mining solutions provider PermianChain, talked about new players jumping into mining, the future of mining and what happens to mine profitability after the 21 millionth BTC is minted. El Masri highlighted that efficiency is a very important focus that new players in the space must take into consideration. Because mining profit depends on how efficient a mining operation is, the executive noted that efficiency brings down the cost of energy to a minimum. [embedded content] When asked about the future of t...
3 Bitcoin trading behaviors hint that BTC’s rebound to $24K is a ‘fakeout’
Bitcoin (BTC) price rallied toward $24,200 on July 28 after a near 10.5% surge that began a day earlier. The gains appeared after Federal Reserve Chairman Jerome Powell signaled intentions to slow down their prevailing tightening spree. They prompted some Bitcoin analysts to predict short-term upside continuation, with CryptoHamster seeing BTC at $26,000 next. It seems that the downside breakout was a false one, and the bullish flag has been validated. Let’s see how fast $BTC can reach those targets. #bitcoin $BTCUSD $ETH $ETHUSD #ビットコイン #биткойн #比特币 https://t.co/v6x4Ka23L7 pic.twitter.com/nKoEV8440X — CryptoHamster (@CryptoHamsterIO) July 28, 2022 But BTC’s potential to recover entirely from its ongoing bearish slumber appears low for at least three key reasons. Bitcoin bulls...
