On June 5, Bitcoin’s price fell by 5% in just one hour after the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Binance for allegedly violating federal securities laws. Even though Bitcoin’s $25,500 support held up, investors are still processing the potential effects of the regulatory action, which also involves Binance CEO Changpeng
Analysis
On June 5, Bitcoin (BTC) experienced a decline to multi-day lows as trading on exchanges intensified. According to data from Cointelegraph Markets Pro and TradingView, BTC/USD wicking fell to $26,640 on Bitstamp. The pair looked weak, down almost 3% from the weekend’s highs, as key support lines moved closer. Among these was the 200-week moving
On June 2, the price of Arbitrum (ARB) experienced a 9% increase to reach an intraday high of $1.25. The rise in price was higher than the overall gains of 1.5% in the crypto market. This increase in price was attributed to the US Senate’s decision to raise the debt limit. Andrew Kang’s Crypto Investments
Bitcoin (BTC) witnessed a lackluster end to May as it slid below $27,000. The monthly close delivered disappointment for the cryptocurrency market, and the pair erased its entire uptick seen over the weekend, coming full circle to act in a familiar range on the day. The area immediately below $27,000 has been a key focal
As the summer season begins, the financial markets are experiencing an unexpected heatwave in the form of the U.S. Dollar Index (DXY). Since late April, the DXY has been on an unprecedented uptrend, reaching levels unseen since the banking crisis in early March. This surge in the dollar has raised concerns among market participants due
The cryptocurrency market saw a downturn in May, with Bitcoin (BTC) declining by 7.37% and Ether (ETH) decreasing by 0.22%. The average loss across the market was 5.62% on the last day of the month. However, some outliers posted impressive gains, driven by popular investment narratives and the growth of the Ethereum staking sector. Pepecoin
The volatility of Bitcoin has drastically decreased, hitting historically low levels due to low market liquidity and macroeconomic uncertainty. The Bitcoin Volatility Index shows that the 30-day volatility was 1.52%, which is less than half of the yearly average values. According to Glassnode, such low volatility levels were only seen for 19.3% of Bitcoin’s price
After several spikes to two-month lows, Bitcoin (BTC) started the week on a positive note as the weekly candle close brought an upward move. The largest cryptocurrency, which has been stuck in a narrow range, is finally showing signs of life, but with volatility back in play, traders are still unsure if short-timeframe strength can
Bitcoin (BTC) managed to hold onto its recent gains on May 27 as traders called for a change in “bearish” market sentiment. The price of BTC/USD entered the weekend at approximately $26,700. Despite the recent macroeconomic data from the United States, which showed the economy weathering tighter financial conditions better than expected, the mood remained
On May 26, Bitcoin (BTC) experienced a sudden increase in value when US macroeconomic data was released that showed a rise in Personal Consumption Expenditures (PCE) since October 2022. The pairing of BTC/USD climbed to nearly $27,000 on Bitstamp as a result. This reading was expected to be a challenge for risk assets, including cryptocurrency,