Tag: Analysis

Price analysis 8/25: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, TON

boss

Bitcoin and altcoins lose more ground after comments from the Federal Reserve suggest that the regime of interest rate hikes could continue into 2024. Federal Reserve Chair Jerome Powell spoke today and in his Jackson Hole speech he cautioned that inflation remains too high and that the central bank remains open to raising rates further if needed. The remarks by Powell strengthen the narrative that interest rates are likely to remain higher for longer.  However, a positive sign is that after a brief sell-off, the United States equities markets have recovered from…

Crypto market analysis: Why did Bitcoin drop?

boss

We explore the present crypto market conditions, what drives the sentiments, ongoing events in the crypto space, and what to expect in the days ahead.  The global crypto market has experienced volatility over the past week. Bitcoin (BTC), once sailing smoothly around the $28,000 mark, crashed to a two-month low of around $25,400 on Aug 17, trading at around $26,026 as of August 22.  This downward spiral triggered a decline for Ethereum (ETH), which reached a five-month low of $1,551.71 at the time of writing, trading at $1,662. Amid prospects…

Price analysis 8/21: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, DOT

boss

Bitcoin and select altcoins are starting to recover, but selling at the top of each price breakout suggests that bears remain in control. After the sharp fall on Aug. 17, Bitcoin (BTC) remained stuck inside a tight range over the weekend. This suggests indecision between the bulls and the bears about the next directional move.  After the latest fall, about 88% of Bitcoin held by Short-term Holders (STHs), owning Bitcoin for 155 days or less, has plunged into loss, according to Glassnode’s weekly newsletter, “The Week On-Chain.” Glassnode warns that…

Price analysis 8/18: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, LTC

boss

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…

Price analysis 8/16: BTC, ETH, BNB, XRP, DOGE, ADA, SOL, MATIC, LTC, DOT

boss

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…

Price analysis 8/11: BTC, ETH, BNB, XRP, DOGE, ADA, SOL, MATIC, LTC, DOT

boss

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 risks 15% dip by October, but $100K is due in 2026 — Analysis

Bitcoin (BTC) can easily end up below $25,000 next month, says one longtime market observer. In a new BTC price outlook, Timothy Peterson, founder and investment manager at Cane Island Alternative Advisors, put the odds of a dip to local lows at 50/50. BTC price may see “last big dip” in September While Bitcoin bulls continue their breakout attempts above $30,000, various popular traders and analysts have their sights on lower levels. Peterson, well known for his technical insights, now believes that typical August and September performance may yield a…

Price analysis 8/7: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC

boss

Bitcoin’s failure to rebound off strong support may open further downside, as bears may be tempted to sell. Bitcoin has been trading near the $29,000 level for the past few days. This suggests a lack of strong demand at higher levels, but the only solace for the bulls is that they have managed to sustain the price above the immediate support. The uncertainty about the next directional move may have tempted short-term traders to book profits. CoinShares said in its latest weekly report that Bitcoin (BTC) investment products witnessed $111 million in…

Price analysis 8/4: BTC, ETH, BNB, XRP, DOGE, ADA, SOL, MATIC, LTC, DOT

boss

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…