Tag: Analysis

Bitcoin ‘big move’ due in July after March $30K push — Latest analysis

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Bitcoin “consolidation” could end by July, new research predicts as optimism over a BTC price breakout returns. In its latest market update on June 2, trading firm QCP Capital revealed a bullish bias on both Bitcoin  (BTC) and the largest altcoin, Ether (ETH). QCP Capital: Bitcoin consolidation “played out perfectly” Bitcoin price has been ranging between $26,000 and $31,000 since mid-March, but analysts are increasingly calling time on the sideways action. QCP Capital is among them, predicting a change of course as soon as the end of the month. This, it argues,…

Price analysis 5/31: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

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Bitcoin and most major altcoins are struggling to hold on to their higher levels, indicating that the bears have not given up yet. After rising for four successive months, Bitcoin is on track to end May with losses of about 7%. Another noteworthy thing in May is that Bitcoin’s (BTC) 30-day volatility dropped to 1.52%, which is far below the yearly average of 4% and higher. Glassnode data shows that Bitcoin’s low volatility periods have only lasted for 19.3% of its total price history. Hence, there is an expectation for volatility to…

Price analysis 5/26: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

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The recovery in the U.S. stock market seems to have acted as a catalyst for the relief rally in Bitcoin and select altcoins. Bitcoin (BTC) remains pinned below $27,000 and the recent weakness of the past few days has increased calls from analysts for a fall to the low $20,000 levels. While anything is possible, the bulls are unlikely to give up the $25,000 support without putting up a fight. Glassnode’s lead on-chain analyst Checkmate said in his comments on May 24 that the Sell-side Risk Ratio metric suggests that…

Price analysis 5/19: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

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The recovery in Bitcoin and most major altcoins halted near respective overhead resistance levels, indicating that the bears are active at higher levels. The United States stock market recovered sharply on May 17 and May 18 on hopes that the debt ceiling agreement could be reached, but the market gave back some of it gains on May 19 on reports of a temporary halt in the talks. The U.S. dollar index (DXY), which had been rising for the past three days turned down on May 19 after Federal Reserve Chair…

Price analysis 5/17: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

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Bitcoin and most major altcoins are selling off on rallies, proof that investor sentiment remains negative in the short term. The United States stock markets are trying to recover on reports that the debt ceiling talks are showing promise and a debt default may be avoided. However, the same enthusiasm is not seen in the cryptocurrency markets. Bitcoin (BTC) slipped back below the $27,000 support on May 17, indicating that buyers are struggling to sustain the relief rallies. Institutional investors seem to be booking profits due to the macro uncertainty.…

Bitcoin, Ethereum Technical Analysis: BTC Drops Below $27,000 as US Debt Ceiling Fears Grip Markets

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Bitcoin fell below the $27,000 level on May 17, as market uncertainty remained high amidst the debt ceiling crisis in the United States. Congress continues to negotiate terms of a potential increase to the limit, before the U.S. government runs out of cash on June 1. Ethereum also dropped, breaking out of the $1,800 level. Bitcoin Bitcoin (BTC) moved below the $27,000 level on Wednesday, following yesterday’s U.S. Retail Sales report. BTC/USD moved to a low of $26,785.41 earlier in today’s session, which was following Tuesday’s peak at $27,223.07. Today’s…

Bitcoin price hits $27.2K, but new analysis warns more losses ‘likely’

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Bitcoin (BTC) sought to recover $27,000 into the May 14 weekly close as volatility picked up out of hours. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price gains over 7% in two days Data from Cointelegraph Markets Pro and TradingView showed BTC/USD spiking to $27,200 on Bitstamp. Its highest in several days, the performance reflected gains of around 7.5% versus local lows from the week’s final Wall Street trading session. “Strong movements on Bitcoin as it swept all the lows in recent moves and grinds back up to $27.2K,”…

Price analysis 5/12: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

Bitcoin and most major altcoins are slumping, but the charts suggest that a recovery could be around the corner. Bitcoin (BTC) extended its decline on May 12 but analyst Philip Swift, co-founder of trading suite DecenTrader and creator of data resource LookIntoBitcoin, does not expect a deep correction. He said it was “interesting to note that the long/short ratio has been climbing as price has trended down.” One of the reasons that is keeping analysts bullish is Bitcoin’s halving, which has followed a set cycle till now and analysts expect…

IRS Providing Blockchain Analysis Tools to Ukraine for Targeting Crypto Sanctions Evaders

“We often see fundraising campaigns conducted with the use of cryptocurrency, as Russia believes in the possibility of circumventing sanctions by using virtual assets,” Yurii Vykhodets, police colonel of the Cyber Police Department of the National Police of Ukraine, said. “The training is timely and provides a strong impetus for more effective work by the Cyber Police in this area.” Source