Bitcoin is witnessing a strong battle between the bulls and the bears, with the sellers currently holding a slight edge. Ratings agency Fitch downgraded the United States’ long-term credit rating from AAA to AA+ on Aug. 1, and this move dented the risk-on sentiment. The U.S. equities markets witnessed profit-booking on Aug. 2, and the…
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Three key Bitcoin price indicators explain why BTC price continues to fall toward new lows. Bitcoin (BTC) surpassed the $30,000 resistance on June 21, or 40 days ago, after a notable 19.5% gain in a week. Since then, it has been moving within a range filled with occasional moderate corrections and BTC price trades near…
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Analysts have called for a U.S. recession all year, but stocks continue to creep higher. Here are three metrics investors can watch to know if an economic downturn is coming. Inflation came down a lot faster than most investors and analysts anticipated, reaching 3% in June. The recession that most analysts predicted is nowhere to…
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Bitcoin’s price consolidation is giving altcoin traders confidence that DOGE, MKR, OP and XDC could break out. Bitcoin (BTC) has been stuck in a narrow range for the past several days. A minor positive is that the range has formed near the recent local high. This suggests that the bulls are not rushing to the…
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This week marked a milestone as the number of Ordinal inscriptions minted on the Bitcoin blockchain crossed the impressive 20 million threshold. But despite this achievement, Bitcoin-based non-fungible token (NFT) or Ordinal marketplace sales have witnessed a downturn since mid-July. Once consistently taking the second spot week after week in the NFT sales ranking, Bitcoin-based…
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Bitcoin’s price action remains lackluster, but select altcoins are showing signs of breaking out of their respective resistance levels. The 25 basis point rate hike by the Federal Reserve on July 26 and the subsequent commentary by Fed Chair Jerome Powell failed to catapult Bitcoin (BTC) out of its range. This suggests that the event…
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Bitcoin and several major altcoins are trading inside a range, indicating that a strong catalyst is needed to start the next trending move. Bitcoin broke below the support of its narrow range on July 24, but the bears have not been able to capitalize on it and start a sharp downward move. This is a positive…
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Even with a price correction to $29,000, several Bitcoin price metrics show traders casting bets on a quick rebound. On July 24, Bitcoin experienced a flash crash, plummeting to $29,000 in a movement now attributed to significant Bitcoin holders potentially liquidating their positions. Amid the crash and market uncertainty, Bitcoin’s (BTC) three major trading metrics continue to…
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Worldcoin price soared to $3.58 shortly after launching but traders and crypto advocates have many concerns. Worldcoin (WLD), the native token of the “privacy-preserving digital identity (World ID)” project founded by OpenAI co-founder Sam Altman, soared after listing on major crypto exchanges on July 24. At the time of writing, WLD trades at $2.22, reflecting…
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MKR looks primed to continue the rally given its recent buyback mechanism and two other key metrics that impact Maker’s price. Maker has gained 53.5% over the past month, and the cryptocurrency witnessed a remarkable 28.1% surge between July 15 and July 22, achieving its highest daily close in nearly a year. While the gains are…
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