Bitcoin (BTC) witnessed a lackluster end to May as it slid below $27,000. The monthly close delivered disappointment for the cryptocurrency market, and the pair erased its entire uptick seen over the weekend, coming full circle to act in a familiar range on the day. The area immediately below $27,000 has been a key focal
Analysis
The cryptocurrency market saw a downturn in May, with Bitcoin (BTC) declining by 7.37% and Ether (ETH) decreasing by 0.22%. The average loss across the market was 5.62% on the last day of the month. However, some outliers posted impressive gains, driven by popular investment narratives and the growth of the Ethereum staking sector. Pepecoin
As the summer season begins, the financial markets are experiencing an unexpected heatwave in the form of the U.S. Dollar Index (DXY). Since late April, the DXY has been on an unprecedented uptrend, reaching levels unseen since the banking crisis in early March. This surge in the dollar has raised concerns among market participants due
The volatility of Bitcoin has drastically decreased, hitting historically low levels due to low market liquidity and macroeconomic uncertainty. The Bitcoin Volatility Index shows that the 30-day volatility was 1.52%, which is less than half of the yearly average values. According to Glassnode, such low volatility levels were only seen for 19.3% of Bitcoin’s price
After several spikes to two-month lows, Bitcoin (BTC) started the week on a positive note as the weekly candle close brought an upward move. The largest cryptocurrency, which has been stuck in a narrow range, is finally showing signs of life, but with volatility back in play, traders are still unsure if short-timeframe strength can
Bitcoin (BTC) managed to hold onto its recent gains on May 27 as traders called for a change in “bearish” market sentiment. The price of BTC/USD entered the weekend at approximately $26,700. Despite the recent macroeconomic data from the United States, which showed the economy weathering tighter financial conditions better than expected, the mood remained
On May 26, Bitcoin (BTC) experienced a sudden increase in value when US macroeconomic data was released that showed a rise in Personal Consumption Expenditures (PCE) since October 2022. The pairing of BTC/USD climbed to nearly $27,000 on Bitstamp as a result. This reading was expected to be a challenge for risk assets, including cryptocurrency,
Bitcoin has reached a significant milestone this month with over 1 million addresses holding at least 1 BTC, according to on-chain analytics firm Glassnode. These addresses are referred to as “wholecoiners” as they hold a whole Bitcoin. Glassnode data shows that these “wholecoiners” have been steadily accruing since mid-2021, and the upward trend in 1-BTC
Lido DAO’s price has rebounded to its three-week high of $2.21 as of May 16, up 40% when measured from its local low of $1.57, established four days ago. This impressive recovery appeared in tandem with other top-ranking crypto assets, including Bitcoin (BTC) and Ether (ETH). However, LDO has greatly outperformed the broader crypto market,
The price of Ether (ETH) has been struggling to maintain its $1,800 support level since May 12. The high gas fees associated with transactions and a worsening regulatory environment are creating pressures for investors. Additionally, three indicators are signaling a lack of demand for decentralized applications (DApps) and a lack of leverage buying demand from