Bitcoin’s weekly candle closed below its bull market support band making it the fourth week in a row to do this. The close of $58,748 has kept the asset below key moving averages, as depicted by analyst Benjamin Cowen in a post on X on Aug. 19. Moreover, the last three weekly candles have been…
The bond market heated up last week as stocks began to tumble. As a result, Treasury yields (the coupon premium bondholders receive for buying a bond) are falling drastically. That could be bullish news for Bitcoin price. Bonds ended last week with the largest single-day point rise in 16 months as investors fled record Wall…
After months of consolidation, Bitcoin’s price has lost key support levels that could signal the start of a new bear market. While on-chain analysts are sounding the alarm regarding the high-cost basis of new Bitcoin holders, technical analysts note Bitcoin’s low price next to its 200-day SMA. Is The Bull Market Over? The 200-day SMA,…
Bitcoin’s price has failed to recover meaningfully after its drop from the $68K level. Yet, investors might still have hope, as several support levels are available. Technical Analysis By TradingRage The Daily Chart On the daily chart, the price has been consolidating below the 200-day moving average, located around the $63K mark. The market has…
2024 has so far been quite eventful for Bitcoin (BTC), whose price is currently hovering around $58,500, or up 40% year-to-date (YTD). The most successful period for the primary cryptocurrency was in mid-March when it hit a new all-time high of over $73,500. In the following lines, we will explore some important factors that suggest…
The cryptocurrency market failed to capitalize on the somewhat positive movements during the past couple of days and retraced during the early morning European trading session on Monday. It appears that participants are awaiting multiple economic events in the US scheduled to take place during the weekend, including the minutes of the last Fed meeting….
TL;DR Ripple was fined $125 million for violating certain securities laws, and while the company sees it as a victory, the SEC might appeal. SHIB’s valuation has dropped over 25%, with signs of declining investor interest and reduced whale activity. Despite a 12% price decrease, analysts suggest Bitcoin (BTC) may soon break out and reach…
Stock markets have shown signs of recovery, but the same cannot be said for crypto markets, which are facing heavy resistance. Volatility could tick up again as all eyes will be on the Federal Open Market Committee (FOMC) meeting and minutes this week in addition to economic data reports. Economic Events Aug. 19 to 23…
The northern European country of Norway has a population of nearly 5.5 million. Moreover, the government’s investments for its citizens total some $1.7 trillion. A chunk of that is in Bitcoin stocks, and the government upped its holdings this year. Norway Sovereign Wealth Fund’s Bitcoin Spree Norway now indirectly owns 2,446 BTC through its investments…