Altcoins pump while traders anticipate a lower support test from Bitcoin

Bitcoin (BTC) bulls are locked in a battle with bears in order to take control of the $40,000 level and dovish comments from U.S. Federal Reserve Chair Jerome Powell suggest that loose monetary policies will remain in place for the foreseeable future. Generally, the crypto ecosystem is “cautiously optimistic” about further price rises as the fallout from China’s miner purge begins to subside and displaced miners begin to establish mining operations in other countries, resulting in a rebound of the Bitcoin hash rate. Data from Cointelegraph Markets Pro and TradingView shows…

Bitcoin Price Records Retracement as Bulls Get Rejected at $40,000 Support Zone

The fiscal and economic policies being rolled out by the Feds in various nations, particularly the United States can also help in the Bitcoin price retracement moves. The price of Bitcoin (BTC) is seeing a gradual retracement as market bulls’ effort leading to the breach of the $40,000 resistant zone was met with rejection. At the time of writing, Bitcoin is changing hands at $39,915.36, down 0.21% in the past 24 hours according to CoinMarketCap. The snapshot performance of Bitcoin is in contrast to its 24 hours price record, which…

Bitcoin fails to flip $40K with traders eyeing $36K or lower for support

Bitcoin (BTC) saw tough resistance after nearing $41,000 on July 28 amid calls for consolidation of recent gains. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $40,000 yet to stick as new support Data from Cointelegraph Markets Pro and TradingView showed BTC/USD pulling back below the $40,000 mark as Wednesday progressed.  The pair had begun with a fresh surge which took it towards heavy range resistance but ultimately lacked the momentum to change its existing paradigm. At the time of writing, Bitcoin focused on $39,500, having dipped to lows of $39,300.…

Amazon denies rumored plans for Bitcoin support

Amazon has refuted recent speculation it may be readying to support Bitcoin payments, asserting it currently has no plans for BTC. According to a Reuters report on July 27 citing a spokesperson from the firm, Amazon remains interested in the crypto industry but has no specific plans to onboard digital assets for payments just yet: “Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true.” However, the spokesperson did not deny that Amazon is researching crypto payments, adding: “We remain…

Strategist Mike McGlone Believes Bitcoin Can Jump to $60K Resistance vs. $20K Support – Markets and Prices Bitcoin News

The senior commodity strategist at Bloomberg Intelligence, Mike McGlone, has been long on bitcoin for a while now and he said last month that bitcoin has a “bullish ace up its sleeve.” This week the strategist’s analysis notes that bitcoin prices will likely revert toward the $60K handle in contrast to the $20K support range. ETF Analyst: ‘China Doesn’t Reject Bitcoin, Bitcoin Rejects China’ On July 23, Bloomberg’s senior exchange-traded fund (ETF) analyst Eric Balchunas shared a screenshot of Mike McGlone’s written statement concerning current bitcoin markets. After tapping a…

Bitcoin’s Address Growth Plateaus as BTC loses $30k Support

The growth of Bitcoin addresses has hit a plateau phase Bitcoin’s daily active addresses have also dropped from April’s peak of 1.366 million There are currently 845k daily active Bitcoin addresses, a drop by 38% from the aforementioned peak Bitcoin has lost the crucial $30k support to post a local low of $29,278 A loss of the $28k support will open the door to more losses to $23k or even $24k The growth of addresses on the Bitcoin network has plateaued. This milestone was identified by Bitcoin and Crypto analyst,…

Crypto joins stocks in ‘extreme fear’ after Bitcoin loses $30K support

Bitcoin (BTC) failed to regain $30,000 after losing support on Tuesday as Fear & Greed indexes raced each other to the bottom.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC’s price stays below $30,000 waterline Data from Cointelegraph Markets Pro and TradingView showed BTC/USD continued trading in the $20,000–$30,000 zone on Tuesday. The largest cryptocurrency saw a turbulent night’s price action, abruptly adding to existing losses to seal 24-hour negative returns of -6%. The move came in tandem with a souring sentiment on traditional markets. The Fear & Greed Index, which…

Ethereum Breaks Key Support, Why ETH Could Tumble To $1,500

Ethereum is gaining bearish momentum below $1,800 against the US Dollar. ETH price is likely to continue lower and it might even test the $1,500 level in the near term. Ethereum started a fresh decline and it even traded below the $1,850 support zone. The price is still trading well below the $1,800 resistance and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $1,820 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue lower…

Elon Musk Reaffirms Support for Dogecoin, Changes Profile Picture — DOGE Trading Volumes Jumped 1,250% in Q2 – Altcoins Bitcoin News

Tesla and Spacex CEO Elon Musk has continued to tweet about the meme cryptocurrency dogecoin. He has changed his profile image on Twitter to include an image of the Shiba Inu dog that represents dogecoin. He also tweeted that his son is “hodling his Doge like a champ.” Meanwhile, dogecoin’s trading volumes soared 1,250% in the second quarter on the world’s major cryptocurrency exchanges, according to data by Coinbase. Elon Musk’s Continued Support for Dogecoin The Doge community was thrilled over the weekend when many people noticed that Elon Musk,…

Crypto Exchange Binance Ending Support for MicroStrategy, Tesla, Coinbase, Apple and Microsoft Stock Tokens

Cryptocurrency exchange Binance says it is ending support for stock tokens on its main trading platform. Binance says that by halting stock token purchases immediately, it can shift its focus to “other product offerings.”   “Today, we are announcing that we will be winding down support for stock tokens on Binance.com to shift our commercial focus to other product offerings. Effective immediately, stock tokens are unavailable for purchase on Binance.com.” Binance introduced the stock tokens in early April, which enable users to access shares of companies listed in traditional stock…