Tag: Analysis

Price analysis 4/5: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

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Bitcoin continues to face resistance near $29,000 and Ether has decided to take charge of the wider crypto markets’ bullish momentum. Bitcoin (BTC) remains pinned below the psychologically crucial level of $30,000 as cryptocurrency investors search for positive triggers. That has not stopped business intelligence firm MicroStrategy from adding 1,045 Bitcoin to its kitty, which has now swelled to 140,000 Bitcoin. Even after the sharp recovery from November 2022 low, monitoring resource Material Indicators believes the current up-move is a bear market rally. Usually, a bear market rally does not…

Price analysis 4/3: SPX, DXY, BTC, ETH, BNB, XRP, ADA, MATIC, DOGE, SOL

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Macroeconomic headwinds continue to pressure the crypto market, but bulls appear steadfast on holding $28,000 for support and this could provide tailwinds for altcoins. Bitcoin’s (BTC) price initially dipped, but then recovered on April 3. The volatility happened after several OPEC+ members announced plans to cut oil production totaling 1.65 million barrels per day until the end of the year. Some analysts expect this move to tighten supply, resulting in higher prices at the pump. That may in turn boost inflation, warranting a continued hawkish stance from central banks. Initially,…

Bitcoin breakout ‘matter of time’ says analysis with BTC price at $28K

Bitcoin (BTC) stayed tightly rangebound at the April 3 Wall Street open as analysts counted down to volatility. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView “Watch for rugs” on BTC Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it lingered around $28,000 on Bitstamp. The weekend had finished on an erratic note as news of a Opec+ oil production cut sent crypto tumbling before a rebound during the Asia trading session. Amid a lack of clear direction, monitoring resource Material Indicators flagged significant liquidity on either side of spot…

Bitcoin breakout ‘matter of time’ says analysis with BTC price at $28K

boss

Bitcoin (BTC) stayed tightly rangebound at the April 3 Wall Street open as analysts counted down to volatility. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView “Watch for rugs” on BTC Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it lingered around $28,000 on Bitstamp. The weekend had finished on an erratic note as news of an OPEC+ oil production cut sent crypto tumbling before a rebound during the Asia trading session. Amid a lack of clear direction, monitoring resource Material Indicators flagged significant liquidity on either side of spot…

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

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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

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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

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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

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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

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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…