Down 20% from its latest peak, the S&P 500 now meets the definition of bear market territory in a warning sign for risk assets everywhere. Bitcoin (BTC) struggled to recover its latest losses on May 21 after Wall Street trading provided zero respite. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price reflects drab stocks … Read more
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
Shares of GBTC are trading below prices seen during the 2017 bull run and markets are repricing the level of risk of holding MicroStrategy equity. The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain … Read more
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
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
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
Analysts across crypto and traditional stocks have taken notice of the similarities between what happened in March 2020 and market moves so far this month. Analysts in both crypto and traditional markets have noted some startling similarities between the recent downturn and the one caused by a pandemic panic in March, 2020. The real question … Read more
The dangers posed by stablecoins to the traditional market cannot be dismissed due to Tether’s exposure to the U.S. credit system. The cryptocurrency market has lost $1.9 trillion six months after it soared to a record high. Interestingly, these losses are bigger than those witnessed during the 2007’s subprime mortgage market crisis — around $1.3 … Read more
The worst is yet to come for Bitcoin price performance, multiple sources warn, despite the turmoil at Terra slowly passing. Bitcoin (BTC) failed to clinch $31,000 by the Wall Street open on May 13 as new warnings forecast a continuation of the downside. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Dollar declines, stocks bounce at … Read more
BTC price is in a freefall and data suggests bears plan to keep the price below $30,000 until the May 13 options expiry. Investors were surprised by Bitcoin (BTC) price falling to $25,500 on May 12, and this shock extended to options traders. The strong correction was not restricted to cryptocurrencies and some large-cap stocks … Read more