Bitcoin (BTC) experienced a “scam wick” that led to new two-month lows, but it has since recovered. BTC/USD was monitored by Cointelegraph Markets Pro and TradingView as it bounced back from a flash dip to $25,800 on Bitstamp. The pair saw weakness after the start of the week’s final Wall Street trading session, briefly cutting
Analysis
Bitcoin attempted to make a recovery as it sought to hit $27,000 towards the end of the week. Despite the market being volatile, data from Cointelegraph Markets Pro and TradingView showed that BTC/USD had spiked to $27,200 on Bitstamp, reflecting gains of approximately 7.5% versus local lows from the week’s final Wall Street trading session.
Despite rallying nearly 60% in 2023 to around $27,000, Bitcoin’s price has failed to move beyond $30,000 decisively. A price correction towards $25,000 over the past week has strengthened Bitcoin’s correlation with several traditional financial metrics. The main question now is whether this raises the risk of Bitcoin continuing its downtrend in Q2. The U.S.
Bitcoin is poised for a promising future as it moves closer to the 2024 block subsidy halving, according to market analysts. Bitcoin halving cycles tend to follow a particular pattern that dictates the price activity during a given period. It is anticipated that these cycles will contain a macro high and macro low for BTC
Bitcoin (BTC) plummeted to its lowest point since March 17, reaching $26,100 on Bitstamp due to fears of a “head-and-shoulders” pattern that would give bears the upper hand. Despite promising macroeconomic conditions for risk assets, Bitcoin was unable to capitalize on the potential for gains as bid liquidity decreased. Concerns Over “Head-and-Shoulders” Pattern On daily
Bitcoin’s price has fallen below its 55-day support level of $27,000, causing $100 million worth of long BTC futures contracts to be liquidated. The two-day, 7% correction resulted in a drop to $26,155, but Bitcoin margin and futures markets remained strong, providing hope of a recovery towards $28,000. Despite this, regulatory uncertainty in the United
Pepecoin’s market valuation decreased by 65% on May 12, a week after achieving a record high of $1.54 billion. Profit-taking accounts for the primary reason behind this extreme price correction, as the cryptocurrency rallied from negligible to as high as $0.00000372 after its launch on April 14. Pepecoin emerged as the fastest-growing ERC-20 token in
Bitcoin’s price remained weak as it headed towards $27,000 after the May 11 Wall Street open, with bulls failing to show strength. The digital currency was at risk of further loss of support as it struggled to recover from local lows seen the day prior. Despite the bullish cues offered by new United States macro
Bitcoin’s weekly options expiry worth $900 million on May 12th may play a crucial role in determining whether the digital currency will drop below $27,000. There is a possibility that the BTC bears will take advantage of macroeconomic headwinds and uncertainty caused by Bitcoin’s transaction fee spike to pull the price down in the coming
Bitcoin (BTC) could be on the verge of significant gains, as a well-known trader has identified a rare bull signal on the Bollinger Bands indicator on the Bitcoin monthly chart. The Bollinger Bands indicator is a key volatility indicator that revolves around a 20-period simple moving average (SMA) functioning as a midline, with two standard