Bitcoin’s price remained weak as it headed towards $27,000 after the May 11 Wall Street open, with bulls failing to show strength. The digital currency was at risk of further loss of support as it struggled to recover from local lows seen the day prior. Despite the bullish cues offered by new United States macro
Analysis
Bitcoin’s weekly options expiry worth $900 million on May 12th may play a crucial role in determining whether the digital currency will drop below $27,000. There is a possibility that the BTC bears will take advantage of macroeconomic headwinds and uncertainty caused by Bitcoin’s transaction fee spike to pull the price down in the coming
The Ethereum Foundation recently transferred nearly $30 million in Ether (ETH) to the Kraken cryptocurrency exchange, causing concerns among traders about a possible selloff event. This resulted in a 4.8% decline in the price of ETH to $1,900. However, this decrease has been insignificant so far, given the wider recovery trend in the market. Despite
Over the weekend, Bitcoin (BTC) experienced fresh volatility in trading as low-liquidity testing put its trading range to the test. According to data from Cointelegraph Markets Pro and TradingView, BTC/USD lost over $1,000, or 3%, in just a matter of hours on May 6. While it saw more active conditions typical of weekend trading, it
Bitcoin’s price has decreased today, causing traders to become frustrated and market sentiment to suffer as a result of ongoing congestion. According to Cointelegraph Markets Pro and TradingView, Bitcoin is trading below $28,000 as of May 8th. The largest cryptocurrency is still experiencing a dip in sentiment due to transaction fees reaching their highest levels
Bitcoin (BTC) could be on the verge of significant gains, as a well-known trader has identified a rare bull signal on the Bollinger Bands indicator on the Bitcoin monthly chart. The Bollinger Bands indicator is a key volatility indicator that revolves around a 20-period simple moving average (SMA) functioning as a midline, with two standard
Bitcoin (BTC) has reached a new May high of $29,529 on Bitstamp and is eyeing a reclaim of further lost ground as the $30,000 mark remains in play. Despite experiencing a dip in response to the US equities market opening on May 4, BTC/USD quickly rebounded as $29,000 support returned. The ongoing US banking crisis,
The SUI token has experienced a significant drop in price after its market debut on leading cryptocurrency exchanges. Just two days after establishing a record high of around $4 on Binance, SUI’s price dropped about 70% to $1.26 per token on May 5. However, on Kraken and other exchanges, its market cap was $1.60 or
The recent price movements of Bitcoin have been a topic of discussion for many analysts and investors. While the crypto managed to defend the $28,000 support on May 2, it is yet to reclaim the $29,200 level from April 30. Analysts have attributed the recent downtrend to the expectation of an interest rate increase by
Bitcoin (BTC) experienced daily lows on May 3rd, as markets awaited the Federal Reserve’s interest rate decision. Data from various sources showed BTC/USD reaching $28,152 on Bitstamp, down 2.2% from the day’s highs. The pair continued to be volatile into the May 3rd meeting of the Federal Open Market Committee (FOMC), the event that accompanies