The early morning momentum that pushed Bitcoin (BTC) above $50,000 on Oct. 5 continued throughout the day after bulls took control of the market and bid the price of BTC up near the $51,900. Data from Cointelegraph Markets Pro and TradingView shows that after a brief period of consolidation, bulls resumed their drive higher and
Market Analysis
Bids for Ethereum’s native token Ether (ETH) could rise to $13,000 in the next two months if history repeats. So shows a fractal indicator from 2017, consisting of at least four technical patterns that were instrumental in pushing the ETH price up by over 7,000%. The same set of bullish indicators have flashed once again
A Bitcoin (BTC) exchange-traded fund (ETF) has a 75% chance of being approved this month — in some form. In comments this weekend, Eric Balchunas, senior ETF analyst for Bloomberg, said that United States Bitcoin futures ETFs were “likely on schedule” for the regulatory green light. Bitcoin futures ETFs “very much alive” October began with
Bitcoin (BTC) stayed higher on Oct. 2 after a “fantastic” break to the upside upended market sentiment. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader eyes $45,000 BTC price floor Data from Cointelegraph Markets Pro and TradingView followed eerie calm on BTC/USD after Friday’s sudden upside volatility saw $3,000 added in an hour. The classic “short
Bullish sentiment returned to the cryptocurrency ecosystem on Oct. 1 after a 10% spike in the price of Bitcoin (BTC) lifted it above the $47,500 level and resulted in the liquidation of more than $270 million in short positions. The altcoin market quickly followed suit with a majority of the tokens in the top 200 registering
Ethereum’s native token Ether (ETH) has the potential to double its market valuation in the coming months, thanks to a confluence of supportive technical and fundamental indicators. Ether price soared by more than 9% Friday to hit nearly $3,300 for the first time in ten days. Its gains surfaced primarily in the wake of a
Last week China’s heavy-handed crackdown on crypto trading crypto briefly sent shockwaves across the market as Bitcoin and altcoin prices saw a sharp drop following the announcement, but as is the case with all things crypto-related, the market bounced back as resilient traders found other ways to participate in the market. Part of China’s goal
Bitcoin (BTC) has been trading in a descending pattern since the strong $53,000 rejection that occurred on Sept. 7, and the $3.4 billion futures contracts liquidation along with China’s ban on crypto trading appear to have severely impacted traders’ morale. Adding to the negative sentiment, major crypto exchanges like Binance and Huobi halted some services
Crypto traders breathed a sigh of relief on Sept. 30 after media headlines reflected positive news regarding adoption and future regulation in the crypto sector. Early in the day, Visa announced that it has developed a layer-2-based blockchain interoperability hub that will support cryptocurrency payments and Federal Reserve chair Jerome Powell stated that the regulator has
Ether (ETH) price has seen quite a bit of volatility lately and to the surprise of many traders, the $4,000 level continues to present considerable resistance. Currently, the price is respecting the upward channel which started in August but every time the support is tested, the risk of an aggressive correction increases. With that in
An on-chain study released by Kraken Intelligence highlights strong accumulation behavior among Ethereum miners even as they faced the prospects of generating lower revenue following a major network upgrade on Aug. 5. Ethereum miners accumulated an additional 2 million Ether (ETH), worth $6.1 billion, after the so-called London hard fork’s activation. The latest bout of
In a series of recent interviews and speeches, United States Securities and Exchange Commission Chairman Gary Gensler has called the cryptocurrencies market the “Wild West” due to its unregulated and allegedly fraud-filled atmosphere, predicting that the coins were doomed to fail. Powers On… is a monthly opinion column from Marc Powers, who spent much of
Bitcoin (BTC) erased overnight gains on Sept. 30 as sudden problems at major exchange Bitfinex caused a mass outage. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitfinex investigates mystery shutdown Data from Cointelegraph Markets Pro and TradingView showed BTC/USD losing the $43,000 level following the news after hitting local highs above $43,800 on Bitstamp. With the
Bitcoin faced another day of bearish pressure on Sept. 29 as the impact of China’s crypto crackdown and uncertainty about the regulatory landscape in the United States continue to weigh heavily on Bitcoin (BTC) and some of the larger-cap altcoins. Data from Cointelegraph Markets Pro and TradingView shows that the early morning rally above $42,000
High transaction costs have been a thorn in the side of investors and developers for more than a decade and the issue became worse in 2021 after the emergence of decentralized finance (DeFi) and nonfungible tokens (NFT) led to record-high levels of activity across the cryptocurrency ecosystem. Since the completion of Ethereum’s London hardfork, cross-chain
Decentralized exchange dYdX’s native token DYDX surged by nearly 80% this week as traders assessed its potential against China’s recent ban on crypto transactions. The DYDX price hit a new high of $26.50 on the FTX exchange after trading at around $13 a week ago. The China ban was an apparent boost for the dYdX
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