Tag: 7K

Career Trader Calls Yearn.Finance A “Strong Buy” If It Hits $7K

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The DeFi trend is finally dying down, and it has left even the once hottest and most hyped coins reeling in the wake. Yearn.Finance, for example, was once trading at over $40,000 and four times the price of Bitcoin. Now, it could be headed for just half a BTC per YFI token, where one career trader claims the altcoin will be a “strong buy.” Here’s how the once piping hot DeFi token might get there. Yearn.Finance Carnage Continues, But Will Make An Ideal HODL Eventually Yearn.Finance was one of the…

Despite Bitcoin Surge Towards $10k, Analyst Thinks a Drop to $7k Is Possible

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It’s been an impressive past few days for the Bitcoin market. The leading cryptocurrency started the week at around $9,200, but now BTC trades at $9,700 after managing to benefit from a rally in the price of Ethereum. With the recent price action, analysts argue that Bitcoin is primed to see an explosive move higher reminiscent of October 2019. But, not everyone is convinced that is the case. Related Reading: Crypto Tidbits: Twitter’s “Bitcoin Scam,” Elon Musk & Dogecoin, Institutions Want BTC & ETH Bitcoin Could Still Correct to the $7,000s,…

Bitcoin Struggles to Hold $7K as US Stocks, Oil, Gold Fall in Sync

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Bitcoin briefly dipped below $7,000 as the US oil prices collapsed to their two-decade low. The cryptocurrency’s price declined alongside US equities and Gold markets, again exhibiting a risk-on behavior. The US dollar, on the other hand, jumped on safe-haven demand. Bitcoin briefly fell below its $7,000-support in what appears to be a panic-sell caused by the upsetting US oil prices ahead of the New York morning bell. BTCUSD edges lower as US stocks, oil fall | Source: TradingView.com, Coinbase The benchmark cryptocurrency plunged 2.95 percent to log an intraday…

Bitcoin Holds $7K as China Sees First GDP Drop, Oil Lowest Since 1987

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Bitcoin (BTC) was fighting to keep $7,000 support on April 17 as China saw a historical GDP contraction and oil sank to prices last seen in 1987. Cryptocurrency market daily overview. Source: Coin360 BTC price uncertain at $7,000 Data from Coin360 and Cointelegraph Markets showed BTC/USD repeatedly testing the $7,000 mark as the week drew to a close, having reached highs of $7,195 on Thursday. At press time, the pair circled $7,050 amid choppy conditions as traditional markets continued to shock investors. Bitcoin 1-day price chart. Source: Coin360 Oil saw…

Bitcoin Takes Aim at $7K as Deutsche Bank Hails ‘End of Free Market’

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Bitcoin (BTC) was aiming for $7,000 on April 14 as a sudden $600 dip gave way to a slow grind upwards as the week began. Cryptocurrency market daily overview. Source: Coin360 Filbfilb: BTC needs “game changer” $7,250 close Data from Coin360 and Cointelegraph Markets showed BTC/USD challenging $7,000 resistance on Tuesday.  Previously, a slump in traditional market futures produced a sharp downturn, with the pair briefly hitting lows of $6,650 across major exchanges. In the event, the S&P 500 finished down 1% on the day, Bitcoin recovering to press-time levels…

Bitcoin Price Pumps, Then Dumps Below $7K Mirroring S&P Futures

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Bitcoin (BTC) price has again dropped below $7,000 and at the time of writing the digital asset is struggling to hold above $6,700. The sharp downside to a new weekly low at $6,575 occurred despite an exciting Easter Sunday, which saw Bitcoin price drop to $6,772, then abruptly rebound to $7,176.  As reported earlier by Cointelegraph, top crypto traders now expect the price to drop lower to $6,400 before possibly retesting $5,800.   Crypto market daily performance. Source: Coin360 Data from Skew also shows that the abrupt correction lower led to…

Bitcoin Turned ‘Sell’ After A Key Technical Rejection Above $7K

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Bitcoin was rejected above the $7,000 level and it declined heavily against the US Dollar. BTC price is currently trading in a bearish zone and it could continue to slide towards $6,400. Bitcoin is showing a lot of bearish signs below the $7,000 pivot level against the US Dollar. There was a key technical rejection near the $7,200 area and the 100 hourly SMA. There is a crucial bearish trend line forming with resistance near $7,150 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair…