Weak stocks and declining DeFi use continue to weigh on Ethereum price

weak-stocks-and-declining-defi-use-continue-to-weigh-on-ethereum-price

Crumbling tech stock prices, declining DApp use and bearish derivatives data continue to pin ETH price below $2,000. Ether’s (ETH) 12-hour closing price has been respecting a tight $1,910 to $2,150 range for twelve days, but oddly enough, these 13% oscillations have been enough to liquidate an aggregate of $495 million in futures contracts since … Read more

Avalanche nears key breakdown level that could sink AVAX price by another 65%

avalanche-nears-key-breakdown-level-that-could-sink-avax-price-by-another-65%

Strongly bearish fundamentals act as tailwind to Avalanche’s technically bearish setup. Avalanche (AVAX) gained 0.5% to reach over $31 on May 23 but AVAX price remains trapped inside a trading range that appears like a “bear pennant” structure. Avalanche could get buried technicals  Bear pennants are bearish continuation patterns, i.e., they resolve after the price … Read more

20% drop in the S&P 500 puts stocks in a bear market, Bitcoin and altcoins follow

20%-drop-in-the-s&p-500-puts-stocks-in-a-bear-market,-bitcoin-and-altcoins-follow

Recession fears mount as a 20% decline in the S&P 500 places stock in a bear market, increasing the chance that BTC and altcoins will make new lows. Whoever coined the phrase “sell in May and go away” had brilliant insight and the performance of crypto and stock markets over the past three weeks has … Read more

Here’s why bears aim to keep Bitcoin under $29K ahead of Friday’s $640M BTC options expiry

here’s-why-bears-aim-to-keep-bitcoin-under-$29k-ahead-of-friday’s-$640m-btc-options-expiry

Bitcoin is holding the $30,000 level, but the $640 million in BTC options that expire on May 20 could result in the price visiting recent lows. Over the past nine days, Bitcoin’s (BTC) daily closing price fluctuated in a tight range between $28,700 and $31,300. The May 12 collapse of TerraUSD (UST), previously the third-largest … Read more

Time For Autopsy? Bitcoin May Plunge Further After Dive Below $30k

time-for-autopsy?-bitcoin-may-plunge-further-after-dive-below-$30k

The next bull market in Bitcoin is now building a bottom. As a result, bears continue to rule the market, sending the price of bitcoin below $29,000 in the last 24 hours. Traders expecting the bear market to conclude may have to wait longer due to unfavorable conditions. Will Bitcoin Retrace? Bitcoin is no stranger … Read more

FTX US to launch stock trading against stablecoins

ftx-us-to-launch-stock-trading-against-stablecoins

FTX Stocks will allow retail investors to fund their accounts with fiat-backed stablecoins like USD Coin via the FTX US crypto exchange. Major cryptocurrency exchange FTX is moving into equity trading, with its United States-based subsidiary FTX US launching a stock trading platform. West Realm Shires Services, the owner and operator of FTX US, announced … Read more

Aave price risks a 25% plunge as a classic bearish reversal pattern emerges

aave-price-risks-a-25%-plunge-as-a-classic-bearish-reversal-pattern-emerges

A handful of concerning factors, plus AAVE’s correlation with the Nasdaq, increases the possibility of the altcoin undergoing another massive sell-off. Technical analysis suggests that a recent uptrend in the price of Aave (AAVE) is showing signs of exhaustion based on early development of a classic bearish reversal pattern. Is AAVE headed to $70? Dubbed … Read more

3 reasons why Cardano can sink further despite ADA price bouncing 58%

3-reasons-why-cardano-can-sink-further-despite-ada-price-bouncing-58%

A mix of fundamental and technical indicators suggests more pain for Cardano bulls ahead. Cardano (ADA) pared a big portion of the weekly losses incurred during this week’s crypto market rout.  ADA’s price reached an intraday high of $0.60 on May 13, a day after rebounding from its week-to-date low of $0.38 — a 58% … Read more

Nasdaq partners with XP to launch cryptocurrency exchange in Brazil

nasdaq-partners-with-xp-to-launch-cryptocurrency-exchange-in-brazil

The exchange, known as XTAGE, is currently scheduled to launch in Q2 2022. XP informed Cointelegraph that XTAGE will launch in Q2 2022 and will be fully integrated into the XP Inc ecosystem — the largest investment brokerage in Brazil with more than 3.5 million clients and $168 billion assets under custody. XP stated that … Read more

Bitcoin gains superior to stocks in the long term, economist says

bitcoin-gains-superior-to-stocks-in-the-long-term,-economist-says

Crypto is more volatile than stocks and thus is associated with higher risks, but it also offers better return opportunities, industry executives agree. The recent crashes in stock and cryptocurrency markets have provided yet another chance to observe better return opportunities of crypto versus stocks, according to several industry executives. This week, the crypto market … Read more