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Cryptocurrencies

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Technical Analysis – BTCUSD battles with 200-day SMA

Posted on July 4, 2024 at 12:46 pm GMT

BTCUSD drops to a fresh 2-month low Currently tests the crucial 200-day SMA Momentum indicators hover near oversold territories BTCUSD (Bitcoin) has been experiencing a extensive selloff since the beginning of June, forming a series of fresh lows. Despite a minor rebound last week, the price’s decline has accelerated in the past couple of sessions, with the bears challenging the 200-day simple moving average (SMA) on Thursday. Should Bitcoin violate that crucial hurdle, the April bottom of 56,483 could act as [..]

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Bitcoin consolidates around $60,000 as selloff cools – Crypto News

Posted on June 28, 2024 at 11:29 am GMT

Bitcoin dips to lowest level since May 3 before paring losses Cryptos’ correlation with equities has weakened lately Ethereum and Solana boosted by ETF speculation Bitcoin under selling pressure The crypto market is clearly not in its best shape lately, with Bitcoin shedding a significant part of its 2024 rally and temporarily breaking below the $60,000 psychological mark to a more than one-month low. The bad news started when the Fed’s updated dot-plot indicated one rate cut for the year as the [..]

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Technical Analysis – BTCUSD bounces off 1-month low

Posted on June 27, 2024 at 9:47 am GMT

BTCUSD drops to its lowest level since May 2 Despite initial rebound, price remains under selling pressure Momentum indicators hover near oversold territory BTCUSD (Bitcoin) has been experiencing a vast selloff since the beginning of June, temporarily breaking below the 60,000 psychological mark. Although the price managed to halt its retreat just shy of the 200-day simple moving average (SMA), the bears continue to hold the upper hand. Should Bitcoin fall back below the 60,000 psychological level, immediate support could be found [..]

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Bitcoin falls to 1-month low, diverging from stocks – Crypto News

Posted on June 21, 2024 at 10:49 am GMT

Bitcoin drops to its lowest level since May 15 Cryptos’correlation with equities has weakened lately On Thursday,spot Bitcoin ETF debuted in Australia   Bitcoin slides below $65,000 Cryptocurrencies have come under selling pressure in the past month, with Bitcoin dropping to a fresh one-month bottom on Friday. The prospect of interest rates remaining higher for longer after the Fed’s latest dot-plot indicated one rate cut for the year has applied upward pressure both on the US dollar. In theory, such a development would [..]

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Technical Analysis – ETHUSD bounces off 50-day SMA

Posted on June 20, 2024 at 1:38 pm GMT

ETHUSD halts retreat at the 50-day SMA Regains some ground after posting a double bottom Momentum indicators turn neutral-to-positive ETHUSD (Ethereum) experienced a strong rally in May, approaching its 2024 highs before undergoing a strong pullback. However, the latest decline appears to be on pause for now as the 50-day simple moving average (SMA) has held its ground twice in the past 10 days. If the latest bounce off the 50-day SMA triggers a move to the upside, the April resistance of [..]

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Cryptocurrencies slide after hawkish FOMC – Crypto News

Posted on June 14, 2024 at 11:40 am GMT

Bitcoin and Ethereum set for a losing week Hawkish Fed aids dollar and hurts risky assets SEC outlines timeline for ether ETF launch   Roller coaster ride The last few days have been eventful for cryptocurrencies, with both Bitcoin and Ethereum easing from their recent highs. The stronger-than-expected NFP report on last Friday was the main catalyst behind Bitcoin’s decline heading into this week, while on Monday spot Bitcoin ETFs ended their streak of 19 consecutive days of net inflows. This was [..]

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Technical Analysis – ETHUSD declines sharply towards 50-day SMA

Posted on June 11, 2024 at 2:38 pm GMT

ETHUSD posted 2-month high following ETF approval But retraced lower after a consolidation period  Momentum indicators drop to negative territories ETHUSD (Ethereum) experienced a strong rally in May, advancing to its highest levels since mid-March. However, after a period of rangebound trading, the price inched lower as the short-term oscillators retreated to their negative zones. Should the pullback extend, initial support could be found at the March-April support of 3,260. Slicing through that barrier, the price might test the March bottom of 3,060. [..]

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Bitcoin lurks near record highs, awaiting Fed cuts – Crypto News

Posted on June 7, 2024 at 11:04 am GMT

Bitcoin nears record high as ETFs see 18 straight days of net inflows With sector-specific risks out of the way, focus turns to interest rates Ether ETF demand and US elections emerge as fresh catalysts  Bitcoin in breathing distance from all-time highs Cryptocurrencies have been in a buoyant mood lately, supported by a wide range of factors. Bitcoin has capitalised on growing institutional demand, with the 11 US spot-Bitcoin ETFs recording 18 consecutive days of net inflows on Thursday. Meanwhile, [..]

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Technical Analysis – ETHUSD consolidates as advance pauses

Posted on June 6, 2024 at 9:21 am GMT

ETHUSD posts fresh 2-month high following ETF approval But fails to extend its rally as bulls lift foot off the gas Momentum indicators ease from overbought conditions ETHUSD (Ethereum) had been on the rise after claiming the 50-day simple moving average (SMA) in mid-May, also helped by the regulatory approval of spot-Ethereum ETFs in the US. Although the price posted a fresh two-month peak of 3,974, it has been rangebound in the past few sessions due to approaching overbought conditions. Should the [..]

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Cryptos consolidate as spot Ether ETF excitement fades – Crypto News

Posted on May 31, 2024 at 11:36 am GMT

SEC’s approval of spot Ethereum ETFs lifts digital currencies With sector-specific risks out of the way, focus turns on interest rates What could be the next growth lever in cryptos?   Cryptos go mainstream Last Thursday, the US Securities and Exchange Commission (SEC) greenlighted eight applications for spot Ether ETFs albeit they will begin trading in at least two or three months from now. Digital assets had been rallying hard in the days preceding the decision as speculators tried to [..]

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