Tag: Analysis

Price analysis 3/31: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

Signs of easing inflation could push Bitcoin and select altcoins above their respective overhead resistance levels in the short-term. Data from the Personal Consumption Expenditures (PCE) index showed an uptick of 0.3% in February, which lower than the 0.5% increase seen in January. Economists had projected a rise of 0.4% and the PCE data suggests that inflation is gradually showing a decreasing trend.  Risky assets rallied in response to the data and some analysts expect the Federal Reserve to start cutting rates by the end of the year, The FedWatch…

Price analysis 3/29: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

boss

Bitcoin and select altcoins are close to breaking out of their overhead resistance levels, indicating that bulls remain in control of the crypto market. Bitcoin (BTC) is up about 71% in Q1 2023, which is the first positive quarter after four consecutive quarters of negative returns in 2023, according to data from Coinglass. This shows that the sentiment has turned positive and the bulls are trying to put a bottom in Bitcoin. When the undercurrent is bullish, negative news results in shallow corrections. That is what happened after the United…

Price analysis 3/27: SPX, DXY, BTC, ETH, BNB, XRP, ADA, MATIC, DOGE, SOL

boss

The crypto market corrected on news of the CFTC suing Binance and its CEO Changpeng Zhao, but technical charts reveal a silver lining. The news and events related to the banking crisis in the United States and Europe have led to a rotation of funds into investments considered less risky. According to the Financial Times, the U.S. money market funds in March witnessed an inflow of $286 billion.  Along with money market funds, a portion of the money may also have seeped into the crypto industry. The increased demand could…

Price analysis 3/24: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

boss

Bitcoin and altcoins could see profit taking and risk-off positioning as the weekend approaches and investor concerns about Deutsche Bank arise. The European stock markets fell on March 24 on renewed fears that the banking crisis could rear its ugly head once again. The latest selling was triggered after Deutsche Bank’s credit default swaps, which offer protection to the buyer against specific risks, soared on March 23 without any known catalyst. That pulled down the shares of the German lender by 11%.  European Central Bank President Christine Lagarde attempted to…

Price analysis 3/20: SPX, DXY, BTC, ETH, BNB, XRP, ADA, MATIC, DOGE, SOL

boss

Bitcoin continues to trade near $28,000, signaling a strong demand from investors even as the legacy banking system struggles with unprecedented volatility. The takeover of the ailing Credit Suisse bank by UBS boosted European equity markets on March 20, but not everyone is happy with the deal. According to the Swiss Financial Market Supervisory Authority, the value of additional tier-one (AT1) bonds will be written to zero, which will wipe out $17 billion worth of investments for AT1 bond investors. Among the turmoil in the global banking sector, Bitcoin (BTC) has shone…

More 186 US banks well-positioned for collapse, SVB analysis reveals

boss

The perfect mix of losses, uninsured leverage and a greater loan portfolio, among other factors, resulted in the fall of Silicon Valley Bank (SVB). Comparing SVB’s situation with other players revealed that nearly 190 banks operating in the United States are at potential risk of a run. While SVB’s collapse came as a reminder of the fragility of the traditional financial system, a recent analysis by economists showed that a large number of banks are just uninsured deposit withdrawals away from a devastating collapse. It read: “Even if only half…

Price analysis 3/13: SPX, DXY, BTC, ETH, BNB, XRP, ADA, MATIC, DOGE, SOL

boss

The banking crisis in the U.S. has led to aggressive buying in Bitcoin and select altcoins, which are nearing stiff overhead resistance levels. Three banks — Silvergate Bank, Silicon Valley Bank and Signature Bank — collapsed within a span of a few days, increasing demand for United States government bonds and sendin the yield on the 2-year Treasury tumbling to 4.06%, a fall of 100 basis points since March 8. This was the largest three-day decline since Oct. 22, 1987, when a stock market crash saw the yield fall 117 points. Although the Federal Reserve…

Price analysis 3/8: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

boss

The strength in the U.S. dollar suggests that the risky assets may remain under pressure in the near term, but Bitcoin and select are showing signs of resilience. On March 7, United States Federal Reserve Chairman Jerome Powell warned that interest rates may remain higher for longer than previously anticipated. This boosted expectations of a 50 basis points rate hike in the Fed’s March meeting to about 70% from 30% a week earlier, FedWatch Tool data suggests. The U.S. dollar shot up and the S&P 500 plunged after Powell’s comments…

Bitcoin price enters ‘transitional phase’ according to BTC on-chain analysis

boss

The hopeful optimism of Bitcoin (BTC) traders seemed to dissipate in the first week of March as key on-chain metrics provided resistance. Now Bitcoin price is threatening a retest of the $22,000 level and a wave of short sellers would stand to profit if that occurred. If the short sellers’ strike price hit, some analysts believe Bitcoin price could drop as low as $19,000. Bitcoin options by strike price. Source: Coinglass A handful of analysts still project BTC price to hit $25,000 in the short-term, on-chain data highlighting a few…

Price analysis 3/6: SPX, DXY, BTC, ETH, BNB, XRP, ADA, MATIC, DOGE, SOL

Stock markets continue to trend upward, while crypto investors wait for this week’s Federal Reserve statements before choosing which direction BTC and altcoin prices will take. The United States equities markets are trying to extend their recovery at the start of the new week. One of the reasons that could be boosting investor confidence is that the yield on the benchmark 10-year note has slipped further to 3.924%. However, the bullish sentiment of the equities markets has not rubbed off on the cryptocurrency markets which continue to underperform. Bitcoin’s (BTC)…