Bitcoin (BTC) headed toward $23,000 on Feb. 3, after a night of losses erased bulls’ latest progress. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Dollar rebound halts crypto party Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting lows of $23,329 on Bitstamp. The pair had come off a second trip above the $24,000
Market Analysis
Avalanche (AVAX) bulls should brace themselves for impact led by a growing divergence between several key indicators on the daily-timeframe chart. AVAX price chart paints bearish divergence The daily AVAX chart shows a classic bearish divergence between its price and relative strength index (RSI), a momentum oscillator forming since Jan. 11. In other words, the price
Bitcoin (BTC) hovered around $23,000 on Feb. 1 after sealing its best January performance in 10 years. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView End of Bitcoin bear market is “default view” Data from Cointelegraph Markets Pro and TradingView confirmed a monthly close of around $23,100 for BTC/USD — its highest since July 2022. The
Bitcoin (BTC) struggled to maintain bullish momentum on Jan. 30 as the countdown to the monthly close kept the market nervous. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price sees flash dip below $23,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD coming off its latest highs at just below $24,000 on the
Bitcoin (BTC) is rapidly regaining its lost dominance in the crypto market so far into 2023. On Jan. 30, Bitcoin accounted for 44.82% of the total crypto market capitalization, the highest since June. In September, Bitcoin’s dominance index was as low as 38.84%. The index typically rises when most crypto investors reduce their exposure to
Bitcoin (BTC) swapped bullish gains for chop into Jan. 31 as the end of the month saw nervous price action. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $46 million of longs liquidated Data from Cointelegraph Markets Pro and TradingView tracked a less confident BTC/USD as it briefly wicked to just above $22,500 on Bitstamp overnight.
Bitcoin (BTC) mining stocks usually follow BTC’s price because it directly influences company earnings. These stocks were beaten down heavily in the last quarter of 2022, especially in December. The downturn after FTX’s collapse worsened with the bankruptcy filing of the largest U.S.-based Bitcoin mining company, Core Scientific. During this time, other mining stocks, like Marathon
Bitcoin (BTC) starts a key week with a familiar cocktail of price spikes mixed with fear that the bear market will return. After sealing its highest weekly close in almost six months, BTC/USD remains over 40% up year-to-date, with the monthly close just 48 hours away — can the gains hold? Against all odds, Bitcoin
Bitcoin (BTC) spiked into key liquidity for a third time on Jan. 29 as the weekly and monthly closes loomed. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader on Bitcoin: $25,000 “in sight” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD briefly hitting $24,498 on Bitstamp overnight. Although short-lived, the move marked the pair’s third
Bitcoin (BTC) remains firmly “bullish” at $23,000, according to new on-chain metrics from one of the industry’s best-known names. In a preview on Jan. 28, market cyclist and on-chain analyst Cole Garner revealed what he said were “backtested and validated” Bitcoin trading tools. Garner: BTC price signals should excite bulls While BTC/USD attempts to push
Bitcoin (BTC) has “well-formed” evidence, which suggests that its next all-time high will top out at $200,000, one analyst says. In a tweet on Jan. 27, popular Twitter commentator Trader Tardigrade, also known as Alan, also revealed $70,000 as the next potential bear market bottom. Stochastic indicator offers Bitcoin bulls historical firepower For many, BTC
Bitcoin (BTC) price had a mixed reaction on Jan. 25 after the United States reported a 2.9% gross domestic product growth in the fourth quarter, slightly better than expected. Still, the sum of all goods and services commercialized between October and December grew less than 3.2% from the previous quarter. Another data set limiting investors’
Our weekly roundup of news from East Asia curates the industry’s most important developments. Bithumb in turmoil On Jan. 25, Yonhap Infomax reported that South Korean authorities had requested an arrest warrant for Kang Jong-Hyun, chairman and owner of cryptocurrency exchange Bithumb, over embezzlement allegations. That same day, the Financial Investigation Second Division of the
Bitcoin (BTC) still risks “considerable danger” in 2023 as macroeconomic conditions dictate price action. That is according to economist Lyn Alden, who, in private comments to Cointelegraph, cautioned on Bitcoin staying bullish after its January gains. Alden: BTC price bottom is a “process” Optimism is increasing throughout crypto as BTC/USD broadly retains levels, which are
Bitcoin (BTC) saw weakness at the Jan. 25 Wall Street open as United States equities fell in step. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price faces stiff resistance Data from Cointelegraph Markets Pro and TradingView showed BTC/USD heading below $22,500 after failing to crack resistance near five-month highs. U.S. stocks saw a weak
Bitcoin (BTC) traded sideways at the Jan. 24 Wall Street open, with analysts at a loss over where the price would go next. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price holds below key resistance Data from Cointelegraph Markets Pro and TradingView tracked a day of consolidation for BTC/USD, which continued to linger near
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