Tag: Analysis

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

Price analysis 5/10: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

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Bitcoin and select cryptocurrencies are trying to start a rebound following the CPI data release but bulls may find it difficult to continue the recovery at higher levels. The United States consumer price index rose 4.9% annually, which was slightly less than estimates of a 5% increase. The CPI’s monthly rise of 0.4% in April was in line with expectations. Although inflation remains stubbornly higher than the Federal Reserve’s 2% target range, traders will take comfort from the slower pace of increase. That suggests the Fed rate hikes are having…

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

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Ether has broken out of its triangle, and that may pull the Bitcoin price above $30,000. Confidence in the United States financial system seems to be eroding fast, with investors trying to find the next weakest link that is about to collapse. Bill Ackman, CEO of hedge fund management firm Pershing Square, cautioned that time was running out to fix the problem. The U.S. equities markets have become vulnerable to adverse news on the regional banks, as seen from the sell-off in the past three days. Compared to that, Bitcoin…

Price analysis 5/3: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

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Bitcoin and select altcoins are showing a continuation pattern, indicating indecision among the bulls and the bears. Investors seem to have priced in a 25 basis points rate hike by the United States Federal Reserve on May 3. Next, they will look for clues on the Fed’s actions for the rest of the year. Will the Fed maintain its hawkish stance as inflation still remains well above its target range or will the bank troubles and the looming recession make the central bank signal a pause in its rate hikes?…

Bitcoin price sweeps lows, but analysis still predicts a $25K dive

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Bitcoin (BTC) fought for $28,000 support on May 2 after the month opened to multi-day lows. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price: “Big volatility on the horizon” Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it returned to the $28,000 mark on Bitstamp. The previous day’s Wall Street open had brought the latest wave of downside volatility, with the pair dipping below $27,700. This followed a leg lower immediately after the weekly and monthly close, with $30,000 and upward feeling increasingly out of reach. Market…

Price analysis 5/1: SPX, DXY, BTC, ETH, BNB, XRP, ADA, MATIC, DOGE, SOL

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Bitcoin and most major altcoins are witnessing aggressive selling at higher levels, indicating that the bears are trying to make a comeback. JPMorgan Chase emerged as the winner in the auction to acquire the deposits and a “substantial majority of assets” of the troubled bank First Republic. This marked the failure of the third regional bank in the United States since March and laid open the vulnerabilities in the legacy banking system. Meanwhile, Bitcoin (BTC) has risen for four consecutive months from January through April, a feat it last achieved…

Price analysis 4/28: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

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Bitcoin and select altcoins continue to face selling at higher levels, a sign that the bears have not yet given up. The cryptocurrency market witnessed sharp volatility on April 26 on rumors that large sums of Bitcoin (BTC) were on the move from the wallets linked to the defunct cryptocurrency exchange Mt. Gox and the United States government. A minor positive is that Bitcoin and select altcoins held their respective support levels. After Bitcoin’s sharp rally in 2023, some traders seem to be planning to book profits. Coinglass reported that…

Price analysis 4/24: SPX, DXY, BTC, ETH, BNB, XRP, ADA, MATIC, DOGE, SOL

Bitcoin and select altcoins are at risk of falling below their respective support levels and starting a deeper correction. Bitcoin (BTC) managed to stay above $27,000 for the past three days but its 9% loss last week spooked some newbie traders. Glassnode data shows that short-term holders, who acquired Bitcoin less than 155 days ago, have been moving coins to the exchanges at a loss since April 16.  While short-term traders are panicking and focusing on the $25,000 level on the downside, some analysts are turning bullish for the next…

Price analysis 4/21: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

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Bitcoin and select altcoins have fallen below their respective support levels — a worrying sign that the bulls could be losing their grip. Bitcoin (BTC) and most major cryptocurrencies have pulled back from their recent local highs, signaling profit-booking by traders. Is the current pullback a buying opportunity, or has the trend turned lower? This is likely to be the question in every trader’s mind. Bollinger Bands creator John Bollinger said in a recent tweet that Bitcoin had turned down from the upper Bollinger Band and reached the middle bank,…