Tag: Bloodbath

Bitcoin Bloodbath Continues, Bears Grip Put in Extreme Fear Territory

To the sound of war drums between Russia and Ukraine, Bitcoin continued its downward spiral on Monday. Over the weekend, the digital currency par excellence lost crucial support below $40,000, and on Monday, it made a low below the next control zone at $37,000. Despite closing near $38,000, the crypto currency is swinging around the aforementioned crucial support, according to TradingView data, and threatens to extend its losses. Bitcoin’s price has dropped for six days in a row. Late last night, the pioneer fell to $36,545 — its lowest level…

Crypto Market Bloodbath Creates Largest Stretch Of Fear Since April Peak

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As the downtrend in the crypto market continues, so does extreme fear. What’s inspiring the sell-off? Is it Omicron? Or is it Evergrande? Is it a conspiracy? Or is it the holidays? All those questions and more have had the Fear and Greed Index pointing left for a month straight. What does this mean? Where do we go from here? That’s what we’re here to explore.  Related Reading | Blood In The Streets: Crypto Market Becomes Fearful As Bitcoin Dives But first, let’s talk about the Fear and Greed Index.…

Yearn Finance (YFI) Climbs 16% Despite Crypto Bloodbath Elsewhere

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Yearn Finance’s YFI rose by up to 16 percent in just two days of trading, even though its peers across the cryptocurrency market bled. The decentralized finance token formed an intraday high at $25,858 in the early trading session in London. At its weekly low, the YFI/USD exchange rate was as low as $17,605, according to data fetched from the Binance crypto exchange. Merger(s) The pair showed signs of recovering after Yearn Finance announced its merger with Pickle Finance, marking a one-of-its-kind partnership between two decentralized finance projects. Pickle Finance…

Yearn Finance (YFI) Slips Below $10K in DeFi Bloodbath; Breakout Ahead?

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A splendid beginning for Yearn Finance in the third quarter is coming to an end with a brutal sell-off. The yield farming aggregator suffered a major blow this week as its governance token, YFI, plunged by 39 percent. In the last 24 hours alone, the cryptocurrency experienced a 10.35 percent price decline, a move that also saw it taking a brief dip below $10,000 – towards $9,600 – before recovering back above the five-figure valuation. But that did not take YFI out of its long-term downtrend. After topping out at…

Is UniSwap at risk after SUSHI and CRV price crash in DeFi bloodbath?

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In recent months, the focus of the cryptocurrency markets has been on the Decentralized Finance or DeFi space and decentralized exchanges. One of the biggest decentralized exchanges is Uniswap, and its token UNI was recently listed on Coinbase Pro and Binance. The majority of the people have received free UNI tokens as they were airdropped. However, the massive hype surrounding Defi also caused several projects to drop massively in the previous weeks.  A few of those dropdowns are Sushiswap (SUSHI) and Curve DAO Token (CRV). These two coins have lost…

Here’s the Crucial Level That May Spark Bitcoin’s Next Bloodbath Decline

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Bitcoin has been caught in the throes of an intense bout of sideways trading for the past few weeks, with attempts to break above or below the upper-$11,000 region proving to be highly fleeting. Earlier this week, the benchmark cryptocurrency rallied as high as $12,400 before it lost its momentum, with its price subsequently plunging to lows of $11,600. The support at this level has held strong in the time since, with this decline kicking off another bout of consolidation. Although in the short-term it remains somewhat unclear as to…

Japanese Investors Rushed To Buy The Dip After Bitcoin Bloodbath

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The number of retail investors registering for an account with Japanese cryptocurrency exchange bitbank spiked by 40% in the week after the Bitcoin bloodbath.  The March 12 meltdown saw the price of Bitcoin (BTC) drop to a new 2020 low at $3,775. An official blog post by bitbank market analyst Yuya Hasegawa reveals that Bitcoin trade volume and account registrations both saw a significant surge in the wake of the crash. Even the number of users going through KYC was above average on the day of the BTC downturn and…

Stablecoins Gain Market Share Amid Crypto Bloodbath

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While most cryptocurrencies have seen their market capitalization slashed over the past month, the market meltdown has seen stablecoins ascend the market cap rankings.  As of press time, six stablecoins currently reside among the top 50 crypto assets by capitalization. USDT ranks fourth  The largest-stablecoin by capitalization, Tether (USDT), currently ranks as the fourth-largest cryptocurrency with a market cap of $4.66 billion. Despite the total USDT market cap growing by just 0.5% in four weeks, Tether has crept up the ladder since ranking seventh by capitalization on Feb. 15.  However,…

How to Survive The Crypto Bloodbath: Market Expert Take

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Bitcoin just suffered a 40% price crash while global markets were shaken at their core by the Coronavirus pandemic. Chief market analyst Naeem Aslam and veteran trader Charlie Burton told Cointelegraph what sense they make of this bloodbath and their strategies to survive it.  Why did Bitcoin fall with the rest of the markets?  Naeem Aslam explained the Bitcoin plunge as a direct consequence of the equity market crumbling amidst Coronavirus-driven panic and what it means for investors:  “They have no other option but to liquidate some of their positions…

Sub-$7000 Bitcoin Price Bloodbath Could Spiral Near $4,000, Warns Analyst

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Peter Schiff believes bitcoin is breaking out of a bearish formation and is heading to $1,000. A renowned technical analyst thinks that such a bearish pattern could, instead, take BTC to $4,000, if validated. Several technical indicators add credibility to a further drop, but there is still a chance for a rebound. On Oct. 19, the veteran gold bug and longtime crypto critic Peter Schiff entertained the idea that a head-and-shoulders pattern was developing on bitcoin’s 1-day chart. He said that if this technical pattern was validated, BTC could drop…