The price of Bitcoin was rejected as it approached critical resistance north of $27,000, and selling pressure continues over today’s trading session. If buyers can’t defend current levels, BTC’s price will likely re-test critical support, but this action could trigger a bounce for the cryptocurrency, according to fresh data. As of this writing, Bitcoin trades…
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Bitcoin price is back above $27,000 per coin after holding firm at $25,000 for a second time. If price fails to move below support and makes another run for resistance, bulls might finally buck the downtrend with a powerful, measured move to $42,000. Recapping 2023 Using Classical Technical Analysis Methods 2023 thus far has been…
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As expected, the Federal Reserve (Fed) left benchmark interest rates in the US unchanged at 5.25-5.5% on Wednesday. Bitcoin (BTC) fell just over 1% and was last trading just under $27,000, though still remains fairly close to monthly highs. Despite the pause, Fed Chairman Jerome Powell said in his post-policy announcement remarks that another interest…
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Bitcoin retreated from recent highs on Wednesday, ahead of the upcoming U.S. Federal Open Market Committee (FOMC) interest rate announcement. The Fed is expected to keep rates unchanged, despite inflation rising by more than expected in August. Ethereum also gave up gains in today’s session. Bitcoin Bitcoin started the day trading marginally lower, as markets…
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Inactive Bitcoin addresses have hit all-time highs across one-, three- and five-year time domains while BTC outflows from exchanges continue. On-chain data suggests that Bitcoin (BTC) holders are accumulating BTC with exchange holdings down to yearly lows and the percentage of inactive BTC supply at all-time highs. According to Glassnode’s Bitcoin supply last active chart,…
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As the market braces itself for the Federal Reserve’s imminent announcement regarding its monetary policy, speculations are rife about the potential impact on Bitcoin and crypto. Based on Grayscale’s recent analysis by Zach Pandl, today’s announcement could be the critical juncture the Bitcoin and crypto community has been awaiting. In the aftermath of the COVID-19…
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Bitcoin price is eyeing a key upside break above the $27,500 resistance. BTC could rally further toward $28,200 if there is a close above $27,500. Bitcoin is showing positive signs and facing hurdles near $27,500. The price is trading above $26,850 and the 100 hourly Simple moving average. There is a major bullish trend line…
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Blue chip cryptocurrency markets are mixed to modestly positive on Tuesday, amid largely cautious trading conditions one day out from the US Federal Reserve’s highly anticipated interest rate decision on Wednesday. Bitcoin (BTC) was last up around 1.5% in the last 24 hours in the $27,200 area, having continued to find strong support above its…
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Bitcoin mining is becoming harder — which means miners will have to spend more to receive fewer rewards. But there are still ways to be profitable. Only seven months remain before the next Bitcoin (BTC) halving in April 2024. It happens approximately every four years and is a deflationary process that cuts the production of…
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Bitcoin continued to trade above the $27,000 level on Tuesday, after a crossover of moving averages triggered a return of bullish sentiment. The move pushed price to a multi-week high, with the global market cap trending over 1% higher. Ethereum also extended recent gains. Bitcoin Bitcoin was once again trading above the $27,000 level on…
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