Category: Bitcoin

Fed Interest Rate Hike Triggers Pullback, Is Bitcoin Headed For A Weak Finish?

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Bitcoin had been riding the euphoric high from the CPI data released on Tuesday which showed that inflation was finally slowing down in the United States. The digital asset had been able to clear $18,000 for the first time since the FTX collapse as a result of this. However, the FOMC announcement that would follow on Wednesday would shock the market back into its shell, sending bitcoin’s price spiraling downwards once more. Bitcoin Reels From Announcement Even though the interest rate hike was not as high as previous ones, it…

Bitcoin Price Hints At Potential Reversal, Buy The Dip?

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Bitcoin price gained pace above the $17,500 resistance after the US CPI release. BTC tested the $18,000 resistance and might correct lower in the short-term. Bitcoin was able to clear the $17,450 and $17,500 resistance levels. The price is trading above $17,500 and the 100 hourly simple moving average. There was a break above a key contracting triangle with resistance near $17,240 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct lower, but dips might be limited below the $17,500 support zone. Bitcoin…

Bitcoin Price Looks Ready For Another Leg Higher Over $17.5K

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Bitcoin price remained well bid above the $16,920 support. BTC climbed higher and might soon aim an upside break above the $17,500 resistance zone. Bitcoin found a strong buying interest near the $16,920 and $16,900 levels. The price is trading above $17,000 and the 100 hourly simple moving average. There is a major contracting triangle forming with resistance near $17,220 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears the $17,250 and $17,450 resistance levels. Bitcoin Price Eyes…

Bitcoin Price Starts Technical Correction, Here’s Key Support To Watch

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Bitcoin price traded above the $17,000 resistance. BTC is correcting gains and might decline towards the $16,650 support zone in the near term. Bitcoin gained pace and cleared the $17,000 and $17,200 resistance levels. The price is trading above $16,650 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $16,980 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct lower towards the $16,650 and $16,500 support levels. Bitcoin Price Faces Bears Bitcoin…

Bitcoin chart is breaking down, has another 30% downside from here, Canaccord Genuity predicts

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In the wake of the FTX failure last month, cryptocurrencies remain lower than they’ve been all year and could stay that way for a long time, according to technical analysts at Canaccord Genuity. “The recent breakdown by bitcoin and [ether] below important support near $18,431 and $1,256, respectively, confirms they are in new intermediate-term downtrends,” analyst Javed Mirza said in a note Thursday. “This is a strong technical negative and opens the door for a test of major support near $11,918 and $560, respectively, or another 30% and 57% downside…

Bitcoin Price Regains Traction, BTC Seems Primed for More Upsides

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Bitcoin price gained bullish momentum above the $16,500 resistance. BTC could rise further if there is a close above the $17,000 resistance. Bitcoin started a decent increase above the $16,500 and $16,650 resistance levels. The price is trading above $16,500 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $16,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could rise further if there is a close above the $17,000 resistance. Bitcoin Price Gains…

Why Cathie Wood thinks bitcoin will still hit $1 million by 2030 and benefit from the FTX collapse

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Cathie Wood’s $1 million bold call on bitcoin surprised many on Wall Street amid the fallout in the crypto industry, and here’s how the investor came up with the prediction. The ARK Invest chief sees the world’s largest cryptocurrency hitting about $1.3 million by 2030, benefitting from the FTX turmoil, she said during the latest CNBC PRO Talks installment with Dominic Chu . “If anything, we think this cycle has benefited bitcoin,” Wood said. “Sam Bankman-Fried didn’t like bitcoin…. Because it couldn’t be controlled. It was decentralized, open, transparent the…

Bitcoin Price Faces Rejection, Why BTC Could Resume Its Downtrend

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Bitcoin price struggled to clear the $17,000 resistance. BTC seems to be forming a double top pattern and might dive below the $16,000 support. Bitcoin attempted an upside break above the $17,000 resistance, but failed. The price is trading above $16,300 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $16,420 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to decline if it breaks the $16,000 support zone. Bitcoin Price Struggle…

Bitcoin Shows Strength As Price Holds Above $16,500; Is This A Bear Trap?

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 BTC’s price loses its previous all-time high of $18,000 as Binance rejects the FTX takeover, with the price responding with a decline to a region of $15,500.   BTC’s price continues to look bearish with the market’s current state, as things look uncertain for most traders and investors.  BTC’s price bounces from a low of $15,500 on the daily timeframes as the price aims for a recovery toward the 50 Exponential Moving Average (EMA) In the last few days, the crypto market has been erratic, with the price of many altcoins,…

Here’s how bitcoin futures ETFs performed in a dramatic week for crypto

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ETFs closely tied to the price of bitcoin served investors reasonably well as crypto proxies during a volatile week, even as losses for long-term holders continue to build. The ProShares Bitcoin Strategy ETF (BITO) and Short Bitcoin Strategy ETF (BITI) both saw their largest daily trading volumes on record last week. Smaller funds from Valkyrie and VanEck also saw spikes in volume. All four funds saw slightly larger moves than the roughly 21% decline in spot bitcoin over the course of the week. “It is the proof point of getting…