Price analysis 12/2: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI

Bitcoin and altcoins are beginning to flash signals of a potential trend change, but a handful of downside risks remain. Non-farm payrolls in the United States rose by 263,000 in November, exceeding economists’ expectations of an increase of 200,000. Analysts believe that the numbers remain hot and do not allow much scope for the Federal Reserve to slow down its aggressive rate hikes.  This is contrary to Fed Chair Jerome Powell’s remarks delivered at the Brookings Institution where he said that the central bank could reduce the pace of rate hikes “as…

Bitcoin’s Total Hashrate Slides Lower in December as BTC Miners Struggle for Profits – Mining Bitcoin News

While bitcoin prices have been lower than the estimated cost of bitcoin production, the network’s hashrate has dropped a great deal since mid-November. Presently, the total hashrate dedicated to the Bitcoin network is coasting along at 236 exahash per second (EH/s) after dropping below the 200 EH/s range six days ago. Bitcoin’s Hashrate Slips Lower The first week of November 2022 was brutal for digital currency prices as FTX’s collapse rippled across the entire industry in a negative fashion. Prior to the FTX fallout, bitcoin was trading above the $20K…

ETH, BTC Higher Following US Nonfarm Payrolls Report – Market Updates Bitcoin News

Ethereum moved closer to the $1,300 level on Dec. 2, as prices remained near a multi-week high. This comes as the latest U.S. nonfarm payrolls report showed that 263,000 jobs were added to the U.S. economy. Markets had expected this to come in at 200,000. Bitcoin was trading above $17,000 prior to the release of the data. Bitcoin Bitcoin (BTC) was once again trading above the $17,000 level, following today’s U.S. nonfarm payrolls (NFP) report. Today’s data was expected to show an addition of 200,000 jobs to the American economy,…

Bitcoin miner outflow ratio hits 6-month high in new threat to BTC price

Bitcoin (BTC) is entering a prime “low-risk bottom” zone as sellers finally accept FTX losses. Data from on-chain analytics firm Glassnode shows that seller exhaustion is reaching ideal levels for a BTC price leg up. Bitcoin sellers face low BTC price volatility Almost one month after the FTX implosion began, Bitcoin investors have either capitulated and sold at a loss or continue to hodl unrealized losses. As Cointelegraph reported, those losses became significant just days after the event, with over 50% of the BTC supply held in the red. Now,…

Will Bitcoin (BTC) See A Christmas Rally? Here’s What To Watch

After the recent speech by US Federal Reserve chairman Jerome Powell, there was a price firework on the stock market, from which Bitcoin also benefited. As a result, the BTC price has climbed to over $17,000. At press time, Bitcoin was trading at $16,982. However, the joy could not last long. The price is currently just bobbing along at the level reached. In the meantime, there are even signs of a slight downward trend again. In the 1-hour chart, investors should keep an eye on four levels. A fall below…

Bitcoin price volatility expected ahead of Friday’s $430M BTC options expiry

Bitcoin (BTC) has been stuck below the $18,600 resistance for the past 19 days and while bears successfully breached the $16,000 support on Nov. 21, the 8% range is pretty narrow for an asset class with 60% annualized volatility. This gives investors good reason to doubt that BTC price will hold its current gains leading into the $430 million BTC options expiry on Dec. 2. Bitcoin/USD price index, 12-hour chart. Source: TradingView Investors are still unsure about whether $15,500 was the Bitcoin bottom and the consequences of the FTX and…

Price analysis 11/30: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI

BTC and many altcoins are kicking up dust after the Federal Reserve chairman Jerome Powell discussed the possibility of smaller rate hikes in 2023, but is the momentum sustainable? Bitcoin (BTC) has shrugged off the weakness in the United States equities markets and is attempting to start a recovery on Nov. 30. Buyers are attempting to achieve a monthly close above $17,000. This suggests that the selling that had picked up due to the FTX crisis may be reducing. Usually, smaller investors panic and dump their holdings in a bear…

ECB Blog Post Insists This Is ‘Bitcoin’s Last Stand,’ Officials Claim BTC Is Headed Toward ‘Irrelevance’ – Bitcoin News

On Wednesday, Nov. 30, 2022, a blog post published by the European Central Bank (ECB) discusses bitcoin and the authors Ulrich Bindseil and Jürgen Schaaf seem to believe its “bitcoin’s last stand.” The ECB authors further say that while bitcoin’s price has consolidated and stabilized, the central bank officials remarked that “it is an artificially induced last gasp before the road to irrelevance.” Members of Europe’s Central Bank Believe They Predicted Bitcoin Would Be Heading Toward ‘Irrelevance’ Before FTX Went Bust Two members of Europe’s central bank, Ulrich Bindseil, the…

BTC Moves Above $17,000 on Wednesday – Market Updates Bitcoin News

Bitcoin moved to $17,000 on Wednesday, as markets continued to digest the U.S. consumer confidence report. Confidence amongst consumers fell to its lowest level since July, despite inflation easing in the world’s largest economy. Ethereum remained higher, edging closer to $1,300. Bitcoin Bitcoin (BTC) briefly rose above $17,000 in today’s session, as traders reacted to the latest U.S. consumer confidence report. Despite falling to a six-month low, the decline in confidence was less than expected, which was a relatively positive sign for markets. Following a low of $16,366.66, BTC/USD rose…

BTC price taps $17K as analysis warns of inbound Bitcoin ‘risk events’

Bitcoin (BTC) briefly returned to $17,000 into Nov. 30 as monthly close volatility loomed. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader: $17,500 monthly close “most bullish outcome” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD following traders’ predictions to sweep higher levels before consolidating. Highs of $17,072 appeared on Bitstamp, with the pair nonetheless unable to flip the highs to support. At the time of writing, Bitcoin hovered around $16,900. $17,000 marks a key range for bulls to reclaim, Cointelegraph reported the day prior, and until this happens,…