Tag: Analysis

Bitcoin and most major altcoins are reeling under intense selling and charts suggest that the market sell-off is not complete. A tight range usually resolves with a range breakout and that is what happened in Bitcoin (BTC) on Aug. 17. Bitcoin fell sharply, resulting in a $1 billion liquidation for derivatives traders, the biggest since the FTX collapse in 2022. It is difficult to pinpoint any specific reason for the sell-off but analysts believe that the confusion arising from the alleged write-down of SpaceX’s $373 million Bitcoin holdings may have been…

Markets continue to slump, giving advantage to the bears and hinting at a trend change to the downside. Bitcoin (BTC) continues to trade inside a narrow range with no clear signs of a breakout from it. Trading platform QCP Capital said in their latest market update that Bitcoin may remain quiet for a few more weeks before making its move in September.  Delphi Digital co-founder Kevin Kelly believes that the cryptocurrency markets are in the early stages of a new bull cycle. Based on a study of Bitcoin’s four-year cycle…

After today’s Bitcoin ETF decision delay, BTC’s boring price action looks set to carry on through the weekend. Bitcoin (BTC) continues to frustrate investors with its tight range consolidation, giving no clue about the possible direction of the breakout. Typically, the longer the range, the stronger the eventual breakout from it. Therefore, traders should be on their toes to latch on to the breakout when it happens.  A minor positive in favor of the bulls is that they are holding on to a large part of the gains seen in…

Bitcoin continues to range trade, and altcoin traders are starting to view BTC’s price consolidation as a positive sign for the rest of the crypto market. Bitcoin continues to frustrate traders who have been predicting a breakout on either side, but investors should keep a close watch because the longer the time spent inside the range, the stronger the eventual breakout from it. The July jobs report released on Aug. 4 was a mixed bag. Hence, it could not shake Bitcoin (BTC) from its range. The report showed the addition of 187,000…

Bitcoin is witnessing a strong battle between the bulls and the bears with the sellers currently holding a slight edge. Ratings agency Fitch downgraded the United States’ long-term credit rating from AAA to AA+ on Aug. 1 and this move dented the risk on sentiment. The U.S. equities markets witnessed profit-booking on Aug. 2 and the cryptocurrency market’s recovery stalled in its tracks. However, after the knee-jerk reaction, the markets may settle down. The cryptocurrency markets are likely to keep their focus on the news and events surrounding the Bitcoin…