Cryptocurrencies

Bitcoin stages comeback after sharp selloff – Crypto News

Posted on August 9, 2024 at 11:32 am GMT

Bitcoin took a hit by a wave of risk aversion in markets But it quickly bounced back as traders bought the dip Ethereum completes death cross on the daily chart Bitcoin recoups losses Cryptocurrencies plummeted on the back of a broader selloff in risk sensitive assets, triggered by concerns over the health of the US economy after the latest downbeat NFP report. Last week, the crypto market suffered its worst weekly performance since the FTX collapse in 2022. Nevertheless, [..]

Bitcoin retreats as traders unwind Trump trade – Crypto News

Posted on August 2, 2024 at 11:19 am GMT

Bitcoin slips after failing to claim the 70,000 psychological mark Probably due to profit taking as markets clip odds of a Trump win Crypto correlation with stocks remains relatively low Bitcoin under pressure Bitcoin has been on a slippery slope this week after touching the $70,000 psychological mark, on Monday, for the first time since June 7. Much of this weakness is attributed to the risk off sentiment observed in markets, but it is certainly more than that. In [..]

Technical Analysis – BTCUSD retreats from 1-month high

Posted on August 1, 2024 at 11:41 am GMT

BTCUSD pulls back after touching the 70,000 mark The bears eye the 50-day SMA as next crucial target Momentum indicators are skewed to the downside BTCUSD (Bitcoin) had a very strong July, with the price reaching the 70,000 psychological mark for the first time in more than a month. Since then, it has been experiencing a downside correction, which is on track to test the 50-day simple moving average (SMA). Should selling pressures persist, the price may face 63,400, a region that [..]

Bitcoin displays high volatility as correlation with stocks frays – Crypto News

Posted on July 26, 2024 at 11:21 am GMT

Bitcoin rises on Friday in an overall volatile week Correlation between cryptos and tech stocks weakens Ethereum fails to capitalise on spot Ether ETF launch Crypto market floods with fresh catalysts Bitcoin has exhibited some wild swings lately, while its traditional strong correlation with other risk-sensitive assets has ebbed significantly. The largest cryptocurrency by market cap managed to erase a significant part of its June slump as the odds of Donald Trump returning to the White house for a [..]

Technical Analysis – ETHUSD trades flat after ETF debut

Posted on July 24, 2024 at 9:22 am GMT

ETHUSD has been rangebound in the past few sessions Spot ETF launch did not trigger much volatility Momentum indicators remain positively tilted ETHUSD (Ethereum) has experienced a strong rally in July, breaking above its 50-day simple moving average (SMA). However, the leading altcoin has been trading sideways for more than a week now, even though the short-term oscillators have been hovering deep in their positive zones. If the price extends its recent upleg, the recent resistance region of 3,560 could curb [..]

Trump’s crypto U-turn sends Bitcoin flying above $60,000 – Crypto News

Posted on July 19, 2024 at 1:07 pm GMT

Trump trade becomes a new tailwind for cryptocurrencies Bitcoin surges to one-month high, briefly surpassing $66,000 But is this a temporary boost, as bias turns neutral again? An unexpected turn With the US presidential campaign now well underway, it was only a matter of time before election fever would hit cryptocurrencies. Many traders now see a victory for Donald Trump at the November election as a foregone conclusion. But in terms of surprises, what’s been more unpredictable for the crypto [..]

Technical Analysis – BTCUSD reclaims 50-day SMA

Posted on July 18, 2024 at 12:30 pm GMT

BTCUSD jumps to a fresh 1-month high The break above 50-day SMA improves technical outlook Momentum indicators are heavily tilted to the bullish side BTCUSD (Bitcoin) has come under significant buying pressure in the past few sessions, surpassing both its 50- and 200-day simple moving averages (SMAs). On Wednesday, the price stormed to a fresh one-month high a tad above the 66,000 handle before paring some gains. Should Bitcoin edge up further, the bulls could attack the April resistance of 67,270. Even higher, [..]

Bitcoin decouples from stocks amid supply overabundance – Crypto News

Posted on July 12, 2024 at 11:46 am GMT

Bitcoin struggles as governments and Mt. Gox clients offload coins Ethereum under pressure after ETF launch is delayed Bitcoin’s correlation with tech stocks ebbs, weaker dollar aids Supply overhang rattles Bitcoin The crypto market has not been in its best shape lately, with Bitcoin shedding a significant part of its 2024 rally and falling below its 200-day simple moving average (SMA) for the first time since October 2023. Clearly, there has been a supply-demand imbalance as mostly Germany but also the US have [..]

Technical Analysis – BTCUSD is held down by 200-day SMA

Posted on July 11, 2024 at 2:45 pm GMT

BTCUSD dropped to a fresh 4-month low last week Attempts for recovery hit a wall at 200-day SMA Oscillators improve slightly, but still negatively tilted BTCUSD (Bitcoin) has been experiencing a strong selloff since the beginning of June, retreating to its lowest level since February 27. Although the price managed to find its feet and attempted to recoup some losses, the 200-day simple moving average (SMA) has been acting as an impenetrable ceiling. Should Bitcoin violate that crucial hurdle, immediate resistance could [..]

Bitcoin plummets to a 4-month low, diverging from stocks – Crypto News

Posted on July 5, 2024 at 11:49 am GMT

Bitcoin collapses to its lowest level since February 27 Stocks hit new highs, depicting waning correlation with cryptos Selling of Mt Gox refunds and government-seized coins persists Cryptos diverge from stocks Bitcoin has been on a slippery slope in the past four sessions, dropping from $63,220 to a fresh four-month low of $53,520, on Friday. This weakness has spilled over to the broader crypto space, with Ethereum being 18% down in the same period, while many altcoins have experienced [..]

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