Given the uncertainty in the macroeconomic environment, Bitcoin price bulls have no reason to bet against a six-week descending wedge pattern. A bearish market structure has been pressuring cryptocurrencies’ prices for the past six weeks, driving the total market capitalization to its lowest level in two months at $1.13 trillion. According to two derivative metrics,…
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Bitcoin and select cryptocurrencies are trying to start a rebound following the CPI data release but bulls may find it difficult to continue the recovery at higher levels. The United States consumer price index rose 4.9% annually, which was slightly less than estimates of a 5% increase. The CPI’s monthly rise of 0.4% in April…
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Bitcoin and Ethereum’s ETH are finding buyers at lower levels, which may be a bullish sign for XMR, OKB and RPL. Bitcoin’s (BTC) volatility has shrunk further this week and it is on track to form an inside-bar pattern on the weekly chart. Although the bulls are finding it difficult to clear the overhead hurdle…
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Ethereum Foundation’s previous big sale of ETH preceded a bear market, but there’s little evidence that such sales affect the general market trend. On May 6, Ethereum Foundation transferred nearly $30 million in Ether (ETH) to the Kraken cryptocurrency exchange, causing jitters in the market about a potential selloff event. ETH price fell 4.8% to…
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Ethereum price is up today and now with the Shapella hardfork in the background, traders are taking a much closer look at ETH Ethereum (ETH) is witnessing a price breakout on the back of the successful Shanghai and Capella (Shapella) upgrades. The increased bullish sentiment after the upgrade led Ether price to hit a year-to-date…
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Ethereum price has been gaining momentum in April, even against Bitcoin, as the much-anticipated Shanghai hard fork is just days away. Ethereum’s Ether (ETH) token dropped by over 7.5% in its Bitcoin (BTC) pair in 2023. But ETH/BTC may wipe its year-to-date (YTD) losses entirely in April as Ethereum’s long-awaited Shanghai hard fork is just days…
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Ethereum on-chain and technical indicators show a long-term bullish argument for ETH price in the near to medium terms. Ethereum’s native token, Ether (ETH), eyes a run-up toward $3,000 in Q2 2023 after wrapping the previous quarter with 55% gains. ETH price nears potential breakout The price of Ether has more that doubled after bottoming…
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The cryptocurrency market may have overreacted to Solana’s FTX links and its tainted boss, Sam Bankman-Fried. The price of Solana (SOL) fell nearly 95% in 2022, partly due to its association with tainted crypto entrepreneur Sam Bankman-Fried and his collapsed ventures, FTX and Alameda Research. But so far in 2023, things have improved for SOL’s price.…
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Bitcoin, ETH, BNB, STX, and IMX remain strong on the charts, increasing the likelihood of more gains in the near term. Bitcoin (BTC) is on track to close the week with gains of more than 23%. The banking crisis in the United States and Europe seems to have boosted buying in Bitcoin, indicating that the…
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The banking crisis in the U.S. has led to aggressive buying in Bitcoin and select altcoins, which are nearing stiff overhead resistance levels. Three banks, Silvergate, Silicon Valley Bank and Signature collapsed within a span of a few days. That increased demand for United States government bonds, which sent the yield on the 2-year Treasury…
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