Bitcoin’s price could be getting closer to a local bottom according to at least one on-chain indicator. This comes as the cryptocurrency is trading in a tight range of around $30K for quite a while. The bitcoin price is currently sitting at around 57% below its all-time high reached in November last year. According to … Read more
Bitcoin’s rapid downtrend has halted, as the price has been consolidating in the $29K-$30K area over the last few days. The $28K-$30K bottom of the 2021 crash is currently acting as support and has held the price for a couple of weeks. Technical Analysis By Edris The Daily Chart Currently, if the price breaks the … Read more
Institutional funds are still flowing out of crypto products, so much so that over the past week, the total assets under management (AUM) figure fell to a ten-month low. CoinShare’s weekly ‘Digital Asset Fund Flows’ report has detailed another week with an exodus of institutional capital. The $141 million outflows have dropped the total AUM … Read more
With the price of bitcoin currently below $30,000, Scott Minerd, the chief investment officer of global investment giant Guggenheim Partners, believes BTC’s value could further dip to $8,000. Bitcoin Price Could Bottom at $8,000 Minerd made the bearish prediction on Monday (May 23, 2022), during an interview on CNBC’s Squawk Box at the World Economic … Read more
Despite reclaiming the $30,000 mark late last night, bitcoin still closed the weekly candle in the red. Thus, the cryptocurrency extended its negative streak to eight consecutive weeks. 8 in a Row in Red A lot can change in the cryptocurrency space in two months, and it definitely did for bitcoin. The asset stood close … Read more
Currently, the price is consolidating inside a crucial demand zone. However, considering the current global markets’ sentiment and recent price action, it’s too early to label the present region as the bottom. Technical Analysis Technical Analysis By Shayan The Daily Chart Despite the recent equilibrium in the $29-30K range, the price might simply be forming … Read more
The frantic price action in the cryptocurrency market does not seem to faze the uber-bullish billionaire CEO of tech firm MicroStrategy. Michael Saylor has yet another bold prediction for Bitcoin, even as his favorite cryptocurrency struggles to hold on to the $30,000-mark. The exec, who started to build up his Bitcoin reserve in 2020, reiterated … Read more
Bitcoin’s price has been consolidating for the last few days, and the decrease from $48K has slowed down by forming support at the $30K level. Technical Analysis By Edris The Daily Chart Considering the current macro sentiment, it may be too early to call the current area the bottom, as price action could easily be … Read more
Despite the relative calmness in the market, the price action is not showing signs of a robust recovery. Although the US stock closed yesterday with a green candle and the DXY index has gone down for the past three days, Bitcoin has not been successful in stabilizing above the critical $30K level. Fear and doubt … Read more
Last week’s rollercoaster continues to impact the cryptocurrency market in one or more ways, as IntoTheBlock data indicated that approximately 40,000 BTC had made their way into exchanges since May 11. While this has increased the selling pressure, there’s some good news since bitcoin actually managed to remain above $28,000, which was a pivotal mark. … Read more