Dollar traders have kept a close eye on a potentially bullish “inverse head-and-shoulders” pattern building in the U.S. dollar index (DXY) chart. Meanwhile, the smell of a stronger greenback is weakening Bitcoin’s (BTC) upside case, especially as the flagship cryptocurrency struggles to break out of its current $30,000-35,000 trading range. Three troughs, one price ceiling
Market Analysis
Bitcoin (BTC) dropped to its “final support zone” above $31,000 on July 15 as a low grind downward brought fresh predictions of a BTC price crash. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Binance debacle spreads as $32,000 falls Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting fresh local lows of $31,550 on Thursday.
Decentralized finance (DeFi) has been one of the hardest-hit sectors since Bitcoin (BTC) price corrected from its all-time high in early May and this can be seen by the decline in the total value locked (TVL) on all protocols. According to data from DeFi Llama, the total value locked in decentralized finance platforms dropped from
A Canada-based Bitcoin fund, operated by 3iQ Corp, has witnessed a dramatic decline in its BTC reserves since June. Literally named the Bitcoin Fund (QBTC:CN), the closed-end investment product, was holding around 24,000 BTC in its vaults in early June. However, as the monthly session progressed, the reserves first dropped to below 16,000 BTC in
Ethereum’s native token Ether (ETH) reclaimed $2,000 in the early New York trading hours Wednesday as crypto traders assessed the Federal Reserve Chairman Jerome Powell’s prepared congressional testimony. The ETH/USD exchange rate surged 7.19% to reach its intraday high of $2,019.90. Likewise, Bitcoin (BTC), whose 7-day positive correlation with Ether stands at 0.84 above zero,
Bitcoin (BTC) failed to crack $33,000 on July 14 as a bounce from multi-day lows delivered only modest progress. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price: Fits and starts below $33,000 Data from Cointelegraph Markets Pro and TradingView tracked another day of ranging — albeit with increased volatility — for BTC/USD on Wednesday. The
Today the wider cryptocurrency market finds itself looking for something to spark some momentum as Bitcoin (BTC) price dropped to $32,300 and altcoins sustained 2% to 5% losses. Data from Cointelegraph Markets Pro and TradingView shows that the top three performers over the past 24 hours are Audius (AUDIO), Axie Infinity (AXS) and Small Love
Bitcoin (BTC) fell to support which could determine a $30,000 retest on July 13 as bulls failed to make their case for fresh gains. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin bulls see $33,000 slip away Data from Cointelegraph Markets Pro and TradingView showed another lackluster performance for BTC/USD on Tuesday, with local lows at