On Saturday, Bitcoin experienced a robust rally, climbing above $58,250. Despite this upward movement, it was unable to sustain the momentum and close above the 200-day Exponential Moving Average (EMA). This led to the formation of a bearish engulfing candlestick pattern on Sunday, signaling potential downside momentum. Currently, Bitcoin is trading below $56,000, positioning it…
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Although Bitcoin has reclaimed the $56,000 price level in the past few hours, its sudden drop below $54,000 on July 5 has reminded investors of the intense volatility associated with the market. In the larger timeframe, Bitcoin has been down by 7% and 20.25% in the past seven and thirty days, respectively. While many crypto…
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Bitcoin has recently been plagued with massive selling pressure, with different entities looking to offload their holdings. This time, on-chain data shows a dormant Bitcoin wallet that transferred over $6.8 million in Bitcoin, suggesting that this whale may also be looking to sell their tokens. Dormant Bitcoin Wallet Transfers Funds For First Time In 12…
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In the last four days, the Bitcoin price has plummeted over 15%, with a significant 7.8% drop occurring in just the past 24 hours. From a high of nearly $72,000 in early June, the price of BTC has now declined by almost 25%. Here are the key factors behind yesterday’s dramatic fall in price. #1…
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Bitcoin (BTC) has completed its ninth test of the $60,000 support level, hinting at a potential shift in the cryptocurrency’s trajectory. According to a crypto analyst, Bitcoin faces significant moves ahead and determining the direction of this momentum is crucial. BTC Retests $60,000 Support For The 9th Time In an X (formerly Twitter) post published…
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Crypto expert Michael van de Poppe has highlighted an important indicator which suggests that Bitcoin could make a crucial bounce from its current price level. This follows the flagship crypto’s recent decline below $60,000. BTC’s CME Gap Has Closed Van de Poppe revealed in an X (formerly Twitter) post that Bitcoin’s CME gap has closed…
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According to data from Arkham Intel, Mt. Gox has initiated the process of repaying creditors by transferring a nominal amount of Bitcoin to one of the designated exchanges. This development follows months of speculation and planning concerning the disbursement of approximately $8.2 billion in Bitcoin owed to creditors of the defunct exchange. Are Mt. Gox…
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Bitcoin’s price has fallen below the critical support level of $60,000, reaching a low of $57,914. Since Tuesday, Bitcoin has experienced a further 7% decline, reinforcing the ongoing downward trend. Currently, market sentiment is shifting markedly towards the bearish side. Is A May 2021-Style Bitcoin Crash Looming? Andrew Kang, co-founder of Mechanism Capital, has raised…
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Crypto analyst Quinten François has provided an ultra-bullish narrative for the Bitcoin future trajectory. The analyst suggested that things are about to get interesting for the flagship crypto, predicting it could rise to as high as $4.5 million. The “Fireworks” Are Just About To Begin For Bitcoin While highlighting the significance of Bitcoin’s fourth halving,…
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The Bitcoin price has fallen to a low of $59,604 today, marking a 4% decrease. According to several renowned crypto analysts, this movement was largely driven by the phenomenon known as the CME gap, a concept critical in Bitcoin futures trading at the Chicago Mercantile Exchange (CME). Why Is Bitcoin Down Today? A “CME gap”…
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