Category: Bitcoin Analysis

Bitcoin Price at Risk of Further Downside: Will Bears Tighten Grip?

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Este artículo también está disponible en español. Bitcoin price started another decline from the $60,650 resistance. BTC is now at risk of more downsides below the $57,500 support zone. Bitcoin is correcting gains and gaining bearish pace below the $59,000 level. The price is trading below $58,500 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $58,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could climb again if it stays above the $57,500 support…

Bitcoin may soon hit six figures regardless of election, investors say

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Despite the increasingly partisan sentiment in the cryptocurrency industry, bitcoin will thrive over the long term regardless of who wins the U.S. presidential election in November. That’s a view many crypto investors are coming to accept, as the wave of optimism spurred by former President Donald Trump’s pro-crypto overtures this summer starts to recede. “Do I think we’ll be in the six figures by 2025? Almost certainly. Do I think we’ll be in the six figures regardless of who wins? Almost certainly,” said Steven Lubka, head of private clients and…

Bitcoin could top $80,000 if Trump wins election, Bernstein says

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As November’s Election Day draws nearer, so does bitcoin’s eventual breakout from this year’s narrow trading range, according to Bernstein. The flagship cryptocurrency has been stuck between $55,000 and $70,000 for most of the year — after reaching its all-time high in March — and is likely to remain in limbo until the U.S. determines its next president on Nov. 5. The outcome of the presidential election – whether former President Donald Trump or Vice President Kamala Harris were to win – could result in a sizable impact on bitcoin…

Ether has dramatically underperformed bitcoin as its investment case weakens

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Crypto investors are starting to question the investment opportunity in ether . Ethereum has always been seen as the blockchain with a stronger and more easily understood value proposition as a smart contracts platform that could power many different types of applications. Now, investors are reckoning with the possibility that ether may have lost some of its appeal, while bitcoin’s has never been clearer or broader. Ether, the second largest cryptocurrency by market cap, is nearly 50% off its all-time high. It has underperformed bitcoin 44% since the Merge (which…

Beware of a bitcoin backslide to $50,000 as it enters worst month

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Bitcoin’s poor trading action could go on for another month as traders wait for a sense of direction to emerge about U.S. interest rate cuts and the looming presidential election. August was a tough month for the leading cryptocurrency. Bitcoin slid 10.25% for its worst month since April, while ether dropped 23.66% in its third monthly drawdown and worst month since June 2022. The discrepancy supports the feeling in the market that although bitcoin has had isolated success thanks to ETFs in 2024, the rest of crypto has not followed…

Disillusioned crypto investors are struggling behind bitcoin’s ETF success

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Crypto investors are having a mild existential crisis as demand for the young asset class dries up in the midst of a bull market. In the past month, search interest in crypto has been muted, network activity has been subdued and futures funding rates briefly went negative. Ether ETFs, which began trading a little over a month ago, have seen net outflows. Even bitcoin ETFs – which helped prices catapult to new highs in March – have logged net outflows. “The ETFs have been a smashing success, [ Donald] Trump…

Bitcoin’s path of least resistance is to the downside, says Wolfe Research

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Bitcoin is down more than 11% for the month, even after its bounce back from the recent broad market sell-off — but it still may fall further before testing new highs, according to Wolfe Research. On Thursday evening, bitcoin fell below $60,000, after sustaining that level for much of this week following the big sell-off and rebound in risk assets the week before. And even though the flagship cryptocurrency is still holding on to a year-to-date gain of about 36%, according to Coin Metrics, there’s little evidence that it’ll be…

Bitcoin Price Reclaims $60K: Is The Rally Resuming?

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Bitcoin price gained pace for a move above $58,000 and $60,000. BTC is up over 10% and is signaling more upsides in the near term. Bitcoin started a decent increase above the $56,500 and $58,250 levels. The price is trading above $60,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $60,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might eye more upsides above the $62,500 resistance zone. Bitcoin Price Could Extend Gains Bitcoin…

Bitcoin is no digital gold safehaven

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Bitcoin is no stranger to volatility or even to 30% “pullbacks” in bull markets. But once in a while the market descends into chaos, reviving the debate on whether bitcoin is a risk asset or a safe haven amid tumult. After the benchmark S & P 500 index on Monday dropped 3% in its worst session since September 2022 , and bitcoin fell 10% for its worst day since November 2022, investors and market observers are again questioning the cryptocurrency’s store-of-value narrative . “It’s a speculative thing,” Nassim Taleb, Universa…

Buy the dip in these bitcoin mining stocks, Cantor Fitzgerald says

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Bitcoin was no exception to Monday’s broad market rout, which gives investors a good buying opportunity, according to analysts. The flagship cryptocurrency dropped 11% over the three days ending Monday, according to Coin Metrics, pulling down the performance of stocks related to it. Those names managed to recoup some of their losses on Tuesday. “As a reminder, Bitcoin historically has very strong returns in the one-year period post halving,” Brett Knoblauch, an analyst at Cantor Fitzgerald, said in a note Monday. He also noted that bitcoin is down 10% since…