BTC price
‘Kwontitative easing’ — BTC price hits $43K in UST as Terra empties $2.2B BTC bag
Bitcoin (BTC) fell below $30,000 for the first time in ten months on May 10 as turmoil at Blockchain protocol Terra continued. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin price bounces at $29,700 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD plumbing lows of $29,731 on Bitstamp. The first trip under the $30,000 mark since July 2021, overnight BTC price performance came amid both declining stock markets and fresh trouble for Terra’s United States dollar stablecoin, TerraUSD (UST). As Cointelegraph continues to report, UST saw an attack involving mass-selling this week, which culminated in Terra using its giant 750 million BTC reserves to prop up its USD peg. Initial liquidity steps to mitigate the impact of the threat proved insufficient, ho...
Bitcoin sets news 2022 lows as analyst says trip to $24K realized price ‘entirely possible’
Bitcoin (BTC) set a new record low price for 2022 on May 9 as crypto markets continued selling off prior to the Wall Street opening. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price sinks under $36,700 Data from Cointelegraph Markets Pro and TradingView confirmed the firmly bearish achievement for BTC/USD, which hit $32,637 on Bitstamp. With the latest installment of a string of losses in May, the pair continued to trade under $33,000 at the time of writing, with weekly losses now at 15%. “Bitcoin sweeping the lows here, that’s probably next liquidity,” Cointelegraph contributor Michaël van de Poppe told Twitter followers in one of several posts on the day: “We could go towards $30-31Kish as that’s a daily block, but I’d be looking at longs around these regio...
Bitcoin price target now $29K, trader warns after Terra weathers $285M ‘FUD’ attack
Bitcoin (BTC) prepared for a rare bear feature to return on May 8 after an overnight sell-off took the market ever closer to January lows. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC circles $34,400 lows Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to $34,200 on Bitstamp, recovering to trade around $500 higher at the time of writing. The pair had seen brief support around the $36,000 mark, but this gave way as thin weekend liquidity added to the volatility. Bitcoin liquidations themselves were limited, however, as market sentiment had long expected a deeper pullback after a tumultuous week on stock markets. Data from on-chain monitoring resource Coinglass countered 24-hour liquidations for both Bitcoin and Ether (ETH), running at aroun...
Bitcoin clings to $36K as data suggests BTC price sell-off came from short-term holders
Bitcoin (BTC) found a new home at $36,000 into May 7 as volatility finally cooled into the weekend. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Terra down at least $250 million in crunch Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling the $36,000 mark overnight after losing 12% in just 72 hours. Still near its lowest levels since late February, the pair had nonetheless avoided a rematch of 2022 lows at the time of writing despite low-volume weekend market conditions. In his latest Twitter update on May 6, popular trader Anbessa highlighted the planned support level to buy Bitcoin in what he described as a “fakeout” — a zone beginning at just under $33,000. #Bitcoin Update Twitter friendly, easy words BTC support, BTC fakeou...
‘Someone is blowing up’ — Bitcoin sees 2022 volume record amid hopes capitulation is over
Bitcoin (BTC) dipping below $36,000 “smells like capitulation,” one trader says as suspicion mounts over United States stock markets. In a tweet on May 6, Cointelegraph contributor Michaël van de Poppe suggested that the BTC price was at least giving “serious signals.” Analyst: Stocks saw “forced liquidation” After plunging to 10-week lows in line with equities on the May 5 Wall Street trading session, Bitcoin bounced at levels last seen in February. The downturn in both crypto and stocks, which followed an initial bounce the day prior on the back of expected rate hikes by the Federal Reserve, appeared to be more than traders bargained for. The S&P 500 finished the day down 3.5%, while the Nasdaq 100 ended down 5%. Outside stocks, U.S. 10-year Treasury futures shed 1%, a rare comb...
Bitcoin price hits 10-week lows as $40K spike becomes ‘nasty bull trap’
Bitcoin (BTC) hit its lowest level in over two months later on May 5 as Wall Street trading saw volatility return with a bang. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView DXY celebrates as stocks, crypto tumble Data from Cointelegraph Markets Pro and TradingView painted an unsettling picture for hodlers as BTC/USD fell to $36,520 on Bitstamp. Capping losses, which totaled 8.3% at one point, Bitcoin only bounced at a price last seen on Feb. 24 this year. As Cointelegraph reported, the performance had come in tandem with mayhem in U.S. markets as equities gave up previous gains to flip bearish on the economic outlook. The Federal Reserve’s “priced in” rate hikes thus appeared to have been something of a red herring. “BTC breaks below 37K after a na...
Bitcoin trader keeps $40.8K BTC price target amid warning over risk asset ‘pain trade’
Bitcoin (BTC) consolidated below $40,000 on May 5 after United States economic policy excitement saw a spike to one-week highs. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Fed sparks little crypto reaction Data from Cointelegraph Markets Pro and TradingView confirmed an overnight peak of $40,050 on Bitstamp following comments from the Federal Reserve and Chair Jerome Powell. The U.S. central bank had conformed to market expectations with a 0.5% key rate hike, also suggesting that similar repeat hikes would follow. With that, a modest market rally left Bitcoin eerily lacking volatility in what was a strong contrast to previous Fed pronouncements on topics such as inflation. While many expected risk assets en masse — including crypto — to deflate under the new poli...
Fed ‘will determine the fate of the market’ — 5 things to know in Bitcoin this week
Bitcoin (BTC) starts a new week with much to make up for after its worst April performance ever. The monthly close placed BTC/USD firmly within its established 2022 trading range, and fears are already that $30,000 or even lower is next. That said, sentiment has improved as May begins, and while crypto broadly remains tied to macro factors, on-chain data is pleasing rather than panicking analysts. With a decision on United States economic policy due on May 4, however, the coming days may be a matter of knee-jerk reactions as markets attempt to align themselves with central bank policy. Cointelegraph takes a look at the these and other factors set to shape Bitcoin price activity this week. Fed back in the spotlight Macro markets are — as is now the standard — on edge this week as another U....
Bitcoin retreats toward $38K after Friday sparks losses for ‘nearly everything’ outside China
Bitcoin (BTC) fell into the May holiday weekend after late trading saw crypto losses echo “basically everything.” BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Macro keeps BTC firmly in its place Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reversing at $38,180 on Bitstamp to circle $38,600 on April 30. The pair had performed weakly on April 29, and this nonetheless echoed the vast majority of traditional assets — with the notable exception of Chinese equities. “Almost everything went down today besides gold, platinum, and Chinese stocks,” economist Lyn Alden summarized. With that, the S&P 500 finished on April 29 down 3.6% and the Nasdaq 100 down 4.5%. Hong Kong’s Hang Seng, on the other hand, gained 4% overall. The United States Dollar I...
These are the BTC price levels to watch as Bitcoin risks worst April on record
Bitcoin (BTC) sits at a historically important price point for hodlers, but where could it be headed in the coming days? As the monthly close looms and various countries prepare for the May holidays, traders are mapping out the options — with some surprises. $35,000 becomes key focus While Bitcoin market commentators rarely agree on much, one thing is more or less accepted this week — that April’s monthly close will be volatile. Due over the weekend, that volatility has the potential to be exacerbated by a lack of trading volume thanks to markets being off either for the weekend or long weekend. Even with macro participation, however, the situation would seem not to favor Bitcoin bulls. As Cointelegraph reported, Friday saw major indices, with the notable exception of China, finish i...
Bitcoin disappoints on bull run as AMZN stock sees biggest 1-day drop since 2014
Bitcoin (BTC) fell into the Wall Street open on April 29 as United States markets opened to volatility, including an 11% drop in Amazon stock. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView All change at the Fed Data from Cointelegraph Markets Pro and TradingView confirmed BTC/USD dipping to $38,622 on Bitstamp Friday. Despite a let-up in the U.S. dollar’s relentless bull run, Bitcoin showed little signs of strength as it remained firmly under $40,000. Macro factors remained against the largest cryptocurrency along with risk assets more broadly, commentators noted, as the Federal Reserve reduced its balance sheet. The start of #Fed deleveraging? Fed balance sheet has shrunk for the 2nd consecutive week. Total assets now at $8,939bn, equal to 36.6% of US’ GDP vs ECB&...
Bitcoin set for volatile monthly close after BTC price ‘checks all boxes’ for major move
Bitcoin (BTC) has reentered its most significant lifelong consolidation zone but could still crash to a “macro bottom,” new research warns. In a Twitter thread on April 27, on-chain analytics platform Material Indicators shone a light on the importance of $38,000 for BTC price action. Bitcoin circles all-important point of control After lingering near liquidity at or above $37,700 on intraday timeframes, data from Cointelegraph Markets Pro and TradingView shows, BTC/USD has yet to make a clear move up or down, and traders have been left guessing which way the market will go. Macro factors are demanding further downside, as the impact of inflation and geopolitical strife is clearly felt on equities markets. At the same time, on-chain signals are anything but bearish, led by miners and ...
