Bitcoin price may retest $20K on US CPI amid absence of soft landing — trader

Bitcoin (BTC) could face a retest of $20,000 and the United States will fail in its plans for a “soft landing” on inflation, a new analysis says. In a YouTube update on Feb. 5, Cointelegraph contributor Michaël van de Poppe, founder and CEO of trading firm Eight, warned that the tide is due to turn for risk assets. U.S. “probably” headed for recession — Van de Poppe  Amid confusion over how incoming U.S. macroeconomic data may affect market sentiment, Van de Poppe says there is an increasing chance that the…

Fantom’s 5-week winning streak is in danger — Will FTM price lose 35%?

The price of Fantom (FTM) risks pulling back in February due to a growing divergence between its price and momentum in recent weeks. FTM price rallies 230% after Cronje’s 2023 roadmap FTM’s price has grown by 230% in the past five weeks, trading at $0.61 on Feb. 5. The rally came as a part of a broader crypto market recovery but outperformed most top-ranking crypto assets due to the hype created by Andre Cronje. Cronje is the co-founder and architect of Fantom’s layer-1 blockchain. On Dec. 26, 2022, the developer released a…

Shiba Inu price rebounds 100% after record lows against Dogecoin — More upside ahead?

Shiba Inu (SHIB) price was at the lowest versus its top rival Dogecoin (DOGE) in November 2022. Three months later, the dynamics have flipped.  SHIB price rises 100% versus DOGE On Feb. 4, 2023, the SHIB/DOGE pair reached 0.00001638 DOGE, up almost 100% three months after bottoming out at 0.00000993 DOGE, its lowest level on record. SHIB/DOGE daily price chart. Source: TradingView The sharp recovery came as investors’ focus shifted to the impending launch of Shibarium, a Shiba Inu-backed layer-2 blockchain built on the Ethereum mainnet, announced on Jan. 16.…

Why did Bitcoin price go down today? BTC traders brace for $23K retest

Bitcoin (BTC) headed toward $23,000 on Feb. 3 after a night of losses erased bulls’ latest progress. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Dollar rebound halts crypto party Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting lows of $23,329 on Bitstamp. The pair had come off a second trip above the $24,000 mark at the Feb. 2 Wall Street open, with buyers failing to sustain momentum amid macro market volatility. In classic style for interest rate announcements by the United States Federal Reserve, an initial move was…

Bitcoin BTC Price Dips Into Red but Holds Strong Near $23.5K

Ether fared similarly on the day, dipping late to also fall 1.8% from Wednesday, same time. The second largest crypto in market value was recently changing hands near $1,650. Other major cryptos declined late in the day to flatten or also drop into negative territory. APT, the token of layer 1 blockchain Aptos, plunged 6.5% to lose some of the ground it has gained this year. APT rose more than any other token in January. GALA, the token of the Gala Games play-to-earn platform declined 5%. The CoinDesk Market Index,…

Ethereum (ETH) price is aiming for $1,800 in February — Here is why

Ether (ETH) has been struggling with the $1,680 resistance since Jan. 20. Still, the ascending triangle pattern and improvements in investor sentiment in ETH derivatives provides hope that Ether price could reach $1,800 or higher by the end of February. This, of course, depends on how the Ether price behaves as it reaches the pattern deadline by mid-February.  Ether/USD price index, 12-hour. Source: TradingView From one side, traders are relieved that Ether is trading up 33% year-to-date, but the repeated failures to break the $1,680 resistance coupled with negative newsflow…

Avalanche ‘bull trap’ risks pushing AVAX price down by 30% in February

Avalanche (AVAX) bulls should brace themselves for impact led by a growing divergence between several key indicators on the daily-timeframe chart. AVAX price chart paints bearish divergence The daily AVAX chart shows a classic bearish divergence between its price and relative strength index (RSI), a momentum oscillator forming since Jan. 11. In other words, the price of AVAX has been making higher highs since the said date. But, on the other hand, the coin’s daily RSI has been forming lower highs. This divergence suggests a slowdown in the momentum of the…

Bitcoin Price Little-Changed on Soft Economic Data Ahead of Fed Meeting

Bitcoin (BTC) barely noticed the news, continuing to trade flat over the last 24 hours at just above $23,000. After a brutal 2022, the crypto has moved higher so far this year, in part as many are expecting a slowdown in the economy and inflation, and perhaps easier monetary policy from the U.S. Federal Reserve. Source AheadBitcoindataEconomicFedLittleChangedMeetingPriceSoft CryptoX Portal