Bitcoin
Bitcoin could see $37.5K weekend dip before ‘bigger move’ next week — new report
Bitcoin (BTC) is set for a “bigger move” as soon as next week, fresh analysis says as volatility faces a breakout situation. In its latest market update, trading suite Decentrader told readers that the time would soon come to “pull the trigger” with liquidity as BTC price action goes up or down. Analyst on BTC: “The bigger move is coming” Bitcoin has been making lower highs and higher lows throughout this week as a descending wedge on lower timeframes sees volatility ebb. Such a situation cannot last forever, and for Decentrader’s Filbfilb, it has a matter of days left to run. “We continue to trade intra day, low timeframes, with an eye on legacy markets and general developments in Ukraine to ensure we have a foot in the market and are ready to pull the trigger in either direct...
Bitcoin spikes to $41.7K highs as Ethereum nears $3K reclaim
Bitcoin (BTC) saw brisk upwards action during the Wall Street trading session on March 18, conforming to predictions that higher levels would see a retest. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bets placed on $46,000 Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it advanced $1,650 from daily lows to nearly matching the $41,700 high from March 16. The move buoyed traders, who began to reinforce their short-term view of levels near the top of Bitcoin’s 2022 trading range being challenged. For popular trader Pentoshi, however, such a result would not mean that BTC/USD had broken its downtrend definitively. “Macro headwinds still too strong but midterm, I think we rally bc seller exhaustion before any shot at new lows or prev low...
Price analysis 3/18: BTC, ETH, BNB, XRP, LUNA, SOL, ADA, AVAX, DOT, DOGE
Bitcoin (BTC) is facing a challenging environment in 2022 due to the surging inflation and geopolitical turmoil. Although gold has outperformed Bitcoin year-to-date, Bloomberg Intelligence senior commodity strategist Mike McGlone believes that Bitcoin could make a strong comeback. McGlone expects the current circumstances to “mark another milestone in Bitcoin’s maturation.” Another bullish sign for the long term is that the Bitcoin miners have been increasing their Bitcoin holdings since 2021. Compass Mining founder and CEO Whit Gibbs said to Cointelegraph that Bitcoin mining companies are “taking more of a bullish approach to Bitcoin.” Daily cryptocurrency market performance. Source: Coin360 Terraform Labs founder Do Kwon said that its stablecoin TerraUSD (UST) will be backed by mor...
Bitcoin maintains $40K support as Fed confirms rate hike in 4 years
Bitcoin (BTC) held $40,000 on March 17 after an anticipated key interest rate hike from the Federal Reserve delivered a strong response. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Fed singles out Ukraine war in inflation comments Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing to local highs of $41,500 after the Fed announced it would raise rates by 25 basis points to 0.5% — the first such move since 2018. The Federal Open Market Committe (FOMC) voted almost unanimously for the raise, with an accompanying statement warning of persisting “upward pressure on inflation” thanks specifically to the war in Ukraine. “The invasion of Ukraine by Russia is causing tremendous human and economic hardship,” it read. “The im...
Price analysis 3/16: BTC, ETH, BNB, XRP, LUNA, SOL, ADA, AVAX, DOT, DOGE
Bitcoin (BTC) is witnessing a see-saw battle near $40,000 with both the bulls and the bears trying to gain the upper hand. The volatility could remain high as the markets await the United States Federal Reserve’s policy decision due on March 16. Analyst Willy Woo suggests that Bitcoin could witness a capitulation event based on a cost basis, a metric that indicates the transfer of Bitcoin from inexperienced to experienced traders. Such sharp declines usually suggest the formation of market bottoms. Daily cryptocurrency market performance. Source: Coin360 However, Glassnode believes that a capitulation has been avoided because the sell-offs have been absorbed by a relatively strong market. Although 82% of the short-term holders’ coins are in loss, Glassnode considers this to be a late...
Bitcoin calls traders‘ bluff with fresh $40K fakeout as Fed decision day arrives
Bitcoin (BTC) tested traders‘ neves yet again on March 16 as a fresh spike over $40,000 ended in minutes. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Shorts feel the burn after abrupt trip to $41,700 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD suddenly surging to highs of $41,700 on Bitstamp before instantly reversing. Two hourly candles were all it took for the entire market to rise by $2,000, break significant resistance levels and come all the way back down again. The move, while recently commonplace, was not without its casualties, as evidenced by liquidations across exchanges. According to data from on-chain monitoring resource Coinglass, Bitcoin accounted for $98 million of these over the 24 hours at the time of writing. Total crypto liquid...
What happens to your Bitcoin when you die? A new service saves it for family and friends
When Bitcoin (BTC) traders pass away, their BTC may forever be lost within the blockchain if they haven’t given anyone else access to their wallets. However, an exchange project wants to give crypto traders another option. Back in 2020, a study showed that many crypto investors worry about what happens to their digital assets when they pass away. 89% of respondents expressed concerns on whether their assets would be given to family or friends after their demise. In an interview with Cointelegraph, Jeetu Kataria, the CEO of Digital Financial Exchange (DIFX), highlighted the importance of a way to pass crypto to loved ones in case of death. According to Kataria, their project created a blockchain-based nomination program that allows users to choose “trusted individuals, fam...
Fantom (FTM) and Cardano (ADA) trading in the range of yearly lows
Fantom (FTM) has revisited December lows in the $1.05 zone Cardano (ADA) has slipped below $0.80 for the second time in less than three weeks The crypto market has been relatively quiet in the last 48 hours, with many crypto assets consolidating around their support zones. Bitcoin headed towards bearish targets below $39,000 Bitcoin’s ascent towards $40,000 earlier today was cut short by tough resistance at $39,800, CoinMarketCap data suggests. The flagship cryptocurrency set a weekly high of $39,742.50 before losing more than $1000 in less than three hours and finding support at around $38,700, where it is currently trading. The picture is not very different for the rest of the altcoins in the top ten ranking by market capital. The majority of them have slid back by 2% to 5% in the last 2...
Bitcoin’s current price trend is reflective of its pattern before last year’s huge downturn, analyst observes
Crypto Capo believes an extended third wave of the current correction could push BTC to achieve bearish targets as low as $21k FTM and LUNA are both showing signs of a further downward correction Well-known crypto markets analyst, Crypto Capo, has said that Bitcoin’s recent recovery in the markets during the February mini-surge could soon be defied by a strong descent move. He notes that the BTC market is showing a similar pattern as it did during the massive correction of May 2021. Capo adds that February’s relief rally and the successive price action is evocative of the period before when the market nosedived, starting May last year and eventually pitting bottom below $30k in July. BTC/USD trading chart A more recent update from the crypto analyst indicates that Bi...
EU Parliament votes against the proposal limiting Proof-of-Work cryptocurrencies
EU lawmakers rejected the proposed ban of cryptocurrencies that use the Proof-of-Work mechanism The proposal, which has been a hot debate in recent days, would have led to the outlawing of Bitcoin and other PoW cryptocurrency projects Today, the European Parliament Committee on Economic and Monetary affairs voted on the proposed draft suggesting the ban of cryptocurrencies leveraging the Proof-of-Work consensus mechanism. The proposal, which could have compelled PoW cryptocurrencies to shift to sustainable mechanisms, failed to get enough backing during the vote and was consequently rejected. The majority of EU parliamentarians voted against including the provision out of a draft of the Markets in Crypto Assets (MiCA)framework. Patrick Hansen was among the first to share news on Twitter. &...
Bitcoin tracks $39K ahead of Europe vote on proof-of-work legality
Bitcoin (BTC) stayed steady at $39,000 into March 14’s Wall Street close as stocks took the opportunity to reclaim some losses. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bulls need “miracle” $40,600 reclaim Data from Cointelegraph Markets Pro and TradingView showed BTC/USD unmoved at the opening bell on March 14. The pair had rebounded from a last-minute comedown into March 13’s weekly close to avoid a deeper retracement. The week was set to bring many potential challenges for bulls, however, beginning with a European vote on outlawing proof-of-work algorithm cryptocurrencies March 14. March 13, however, was the main focus, this being the day that the United States Federal Reserve was due to announce a key interest rate hike of a rumored...
Bitcoin could crush Russian ruble by rising another 140%, classic technical setup suggests
Bitcoin (BTC) has declined by around 30% after topping out at 5.8 million rubles a token on March 9. Nonetheless, the said drop could be an excuse for traders to dump another big stash of the Russian national currency if a classic bullish continuation pattern plays out. Bitcoin heads towards 11 million rubles Dubbed the “ascending triangle,” the pattern appears when the price consolidates between a rising lower trendline (support) and a flat upper trendline (resistance). It completes after the price breaks out of the consolidation range in the direction of its previous trend, eyeing levels at length equal to the maximum distance between the triangle’s upper and lower trendline. BTC’s price against the ruble has been trending inside a similar structure since January ...
