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Cryptocurrencies

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Bitcoin in tight range above $30,000 as optimism wanes – Cryptocurrency News

Posted on June 30, 2023 at 11:53 am GMT

This week has been a relatively quiet one for Bitcoin and cryptocurrency markets in general as investors have been in a standby mode, waiting for the Securities and Exchange Commission’s (SEC) decision on the recently filed spot-Bitcoin ETF applications. Bitcoin has been trading sideways, slightly beneath its recent one-year high of $31,416 but above the $30,000 psychological mark, reflecting a cautious optimism over increasing institutional interest. Is the king of cryptos ready for another bullish breakout? High hopes but no concrete evidence [..]

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Bitcoin claims $30,000 amid increasing institutional interest – Cryptocurrency News

Posted on June 23, 2023 at 11:25 am GMT

Bitcoin is set to record one of its best weekly performances in the year, rebounding strongly from its recent lows to post a fresh two-month high of $30,772 before paring some gains. This exponential advance comes on the back of a surge in instructional interest after several Wall Street giants filed for Bitcoin ETF applications. However, uncertainty could remain high as long as regulators have not yet taken a clear stance over the future of these financial instruments. Wall Street boosts [..]

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Technical Analysis – Bitcoin breaks downward sloping resistance line

Posted on June 21, 2023 at 2:05 pm GMT

BTCUSD (Bitcoin) entered a rally mode on Tuesday, breaking above the resistance (now turned into support) barrier of $27,400, which coincides with the 23.6% Fibonacci retracement level of the September 2022 – April 2023 up leg. The rally also took the crypto above the downward sloping resistance line drawn from the peak of April 14, a move likely signaling the continuation of the prevailing uptrend, marked by the upside support line taken from the low of December 30. The RSI [..]

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Bitcoin drops to 3-month low after hawkish Fed remarks – Cryptocurrency News

Posted on June 16, 2023 at 11:48 am GMT

Bitcoin and major altcoins have been experiencing another tough and volatile week, with the king of cryptocurrencies posting a fresh three-month low on Thursday mainly on the back of a more hawkish than expected FOMC meeting. Apart from that, the US regulatory crackdown continues to rattle the sector, while AI mania continues to steal the limelight as the most innovative trend in markets. Will cryptocurrencies manage to turn the tables? Macro catalysts weigh on cryptos During this week, we saw [..]

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Technical Analysis – BTCUSD trades sideways, bearish pattern remains intact

Posted on June 14, 2023 at 1:39 pm GMT

BTCUSD (Bitcoin) has been generating a structure of lower highs and lower lows after peaking at the 11-month high of 31,064 in mid-April. However, the price has been rangebound in the past week, waiting for developments that could provide fresh directional impetus. The momentum indicators are currently well within their negative territories, but they are also suggesting that positive momentum is picking up. Specifically, the stochastic oscillator posted a bullish cross just shy of the 20-oversold mark, while the RSI ticked up [..]

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SEC crackdown sends shockwaves across crypto space, Bitcoin resilient – Cryptocurrency News

Posted on June 9, 2023 at 11:46 am GMT

During this week, cryptocurrency markets experienced significant swings following the US Securities and Exchange Commission’s (SEC) lawsuits against two of the largest exchanges in the industry, Binance and Coinbase. Interestingly, Bitcoin seems to have shrugged off those regulatory risks as it managed to erase the biggest part of its initial slump. Is this a dead cat bounce? Regulatory pressures mount Undoubtedly, the crypto bear market in 2022 exposed flaws and failures in several cryptocurrency projects and business models, delivering significant blows to the [..]

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Technical Analysis – ETHUSD remains directionless around 50-day SMA

Posted on June 8, 2023 at 11:18 am GMT

ETHUSD (Ethereum) has been trading sideways in the past two months, hovering around its 50-day simple moving average (SMA). Moreover, the digital coin has been forming a symmetrical triangle pattern, indicating that a breakout could occur soon. The momentum indicators currently suggest that near-term risks are tilted to the downside. Specifically, the stochastic oscillator is descending after posting a bearish cross, while the RSI dipped below its 50-neutral mark. Should sellers try to push the price lower, the recent support of [..]

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Bitcoin under pressure as AI mania steals the limelight – Cryptocurrency News

Posted on June 2, 2023 at 11:44 am GMT

Bitcoin and major altcoins have been experiencing another tough week, while posting their first red candlestick in the monthly chart for 2023. Some positivity surrounding the debt-ceiling crisis resolution was not enough to reverse Bitcoin’s downside correction as the proposed deal will most likely wipe excess liquidity from the economy. Moreover, the AI mania has stolen the crown from cryptos as the most innovative trend in markets, which adds another headwind for the cryptocurrency space. Cryptos no longer stocks on steroids? During [..]

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Technical Analysis – BTCUSD gets rejected by 50-day SMA

Posted on May 30, 2023 at 11:11 am GMT

BTCUSD (Bitcoin) had been generating a structure of lower highs and lower lows after peaking at the 10-month high of 31,064 in mid-April. Nevertheless, after two weeks of consolidation, the king of cryptos spiked to the upside, with the price temporarily jumping above its 50-day simple moving average (SMA) before paring some gains. The momentum indicators are reflecting a cautiously positive tone. Specifically, the stochastic oscillator is ascending near the 80-overbought zone, while the RSI crossed above its 50-neutral mark. If the [..]

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Bitcoin succumbs to debt-ceiling jitters – Cryptocurrency News

Posted on May 26, 2023 at 11:54 am GMT

Bitcoin and most major altcoins have lost ground this week, extending their corrections from recent highs. The main driver behind the latest weakness is the uncertainty regarding the debt-ceiling negotiations in the US, while solid macroeconomic data releases have increased bets for further rate hikes by the Fed. Is the 2023 crypto rally starting to fizzle out? US default risk looms The latest decline in crypto prices is not attributed to systemic woes or idiosyncratic risks, but largely stems from [..]

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