Tag: Rally

‘I Would Sell My Bitcoin Right Into This Rally’ – Markets and Prices Bitcoin News

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The host of Mad Money, Jim Cramer, says he would still sell bitcoin despite the failures of major banks and growing public distrust in the banking system and the Federal Reserve. “Bitcoin is a strange animal,” he said, asserting that the price of the cryptocurrency is “being manipulated up.” Jim Cramer’s Recommendations The host of CNBC’s Mad Money show, Jim Cramer, says he would sell bitcoin into this rally as the price of BTC jumped following the collapse of several major banks. Cramer is a former hedge fund manager who…

Bitcoin Hits 3-Week High on ‘Relief’ Rally

Bitcoin continued to rally early Tuesday, building on Monday’s gain, with an 18% increase over the past 24 hours. The world’s largest cryptocurrency broke the $25,000 mark following the release of U.S. inflation data. The cryptocurrency has since reached around $26,200, a nine month high. Over $100 million worth of bitcoin shorts, or bets against a rise in prices, were liquidated on Monday. Ether also gained on Tuesday, up 10%, and crypto exchange OKEx’s OKB token rose 25%. Source

Bitcoin BTC Price Falls Below $20K as 2023 Rally Reverses

“Silvergate is one of several factors in Bitcoin’s underside test, ” Joe DiPasquale, CEO of crypto fund manager BitBull Capital, wrote in an email to Cryptox. “In addition to Silvergate, there is market concern of greater interest rate hikes by the FOMC and softening stock market prices. The SEC also shows increasing scrutiny of crypto. Taken together, the market has continued to tighten and retest support levels.” Source 20kBitcoinBTCFallsPriceRallyReverses CryptoX Portal

Bitcoin Falls Below $20K as 2023 Rally Reverses

“Silvergate is one of several factors in Bitcoin’s underside test, ” Joe DiPasquale, CEO of crypto fund manager BitBull Capital, wrote in an email to Coindesk. “In addition to Silvergate, there is market concern of greater interest rate hikes by the FOMC and softening stock market prices. The SEC also shows increasing scrutiny of crypto. Taken together, the market has continued to tighten and retest support levels.” Source

Bitcoin on-chain data highlights key similarities between the 2019 and 2023 BTC price rally

Bitcoin’s (BTC) recent price rally from $16,500 to $25,000 can be attributed to a short squeeze in the futures market and recent macroeconomic improvements. However, while prices increased, data suggests that many interested buyers (including whales) were left on the sidelines.  The recent rally to $25,000 shared many similarities with the 2019 bear market rally, which saw a 330% surge in Bitcoin’s price to highs around $14,000 from the November 2019 low at $3,250. Recently, the BTC/USD pair rose 60% from its November 2022 low. On-chain and market indicators relative…

Bitcoin price continues to fall, but derivatives data hints at a short-term rally to $25K

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It’s possible that many people have already forgotten that Bitcoin’s (BTC) price closed 2022 at $16,529 and the recent rebound and rejection at the $25,000 level could raise concern among certain investors. Bears are pushing back at the $25,000 level and there has been multiple failed attempts at the level between Feb. 16 and Feb. 21. Currently, it looks like the $23,500 resistance is continuing to gain strength with every retest.  Pinpointing the rationale behind Bitcoin’s 45.5% year-to-date gain is not apparent, but part of it comes from the United…

Ethereum price rally hit crucial resistance as institutional investors are in ‘wait and see’ mode

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Ether (ETH) fell short of a bullish breakout based on technical and on-chain analysis, suggesting that the consolidation below the $2,000 price level could continue in the medium term. At the same time, a lack of sellers and strong fundamentals will likely protect Ether from steep declines. Ethereum encounters resistance at long-term bullish reversal points ETH/USD price increased by 42.80% since the start of 2023 thanks to a short squeeze in the altcoin market, negative investor sentiment and low liquidity conditions. Based on on-chain and technical levels, the rally has…

Bitcoin price rally to $25K followed by total crypto market cap retest of the $1.13T resistance

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The total crypto market capitalization rejected at $1.13 trillion on Feb. 16, but there was no change in the month-long ascending channel structure. More importantly, this level represents a 43% gain in 2023, which is far from the $3 trillion level achieved in Nov. 2021. Still, the current recovery is notable.  Total crypto market cap in USD, 1-day. Source: TradingView As shown above, the ascending channel initiated in mid-January has left some room for a 10% correction down to $1 trillion without breaking the bullish formation. Investors reacted positively to…