Bitcoin
Bitcoin price stays near $23K as data shows hodlers not selling BTC
Seasoned Bitcoin market participants are anything but willing to take profit, even with the BTC price up 40% in January. Market Update Own this piece of history Collect this article as an NFT Bitcoin (BTC) refused to surrender gains at the Jan. 23 Wall Street open as United States equities opened higher. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Dollar sags as risk assets reject retracement Data from Cointelegraph Markets Pro and TradingView showed BTC/USD continuing to circle $22,800 at the time of writing. The pair had managed to conserve its trading range over the weekend, with a local low of $22,315 allowing bulls to avoid a major setback. The mood remained buoyant among risk assets on the day, with the S&P 500 up 1.3% and Nasdaq Composite Index trading 2% higher....
Bitcoin due new ‘big rally’ as RSI copies 2018 bear market recovery
Bitcoin (BTC) is in for a new “big rally” as market strength copies conditions from after the 2018 bear market. According to the latest analysis, BTC/USD will continue to head higher “after some consolidation” thanks to key signals from its relative strength index (RSI). Bitcoin prints never-before-seen bullish divergence With the BTC price gains still coming, Bitcoin bulls are feeling increasingly confident despite widespread mistrust of the longevity of the current rally. For popular trader Crypto Wolf, a key phenomenon now underway sets Bitcoin’s latest recovery apart from all others. RSI, he noted on Jan. 18, had printed a long-awaited bullish divergence on weekly timeframes — something which has never happened before. “BTC printed a rare weekly RSI bullish divergence. Never happened i...
Dead cat bounce? Bitcoin price nears $23,000 in fresh 5-month high
Bitcoin (BTC) took a swing at $23,000 into Jan. 21 as Asia buyers drove fresh market strength. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bid liquidity causes suspicion Data from Cointelegraph Markets Pro and TradingView showed BTC/USD battling bears to reach $22,790 on Bitstamp overnight — its highest since August. With new multi-month peaks coming in quick succession despite fears of a major correction, Bitcoin continued to surprise as traders cleared the way for more upside. As noted by intraday trader Skew, Asia was leading the way into the weekend, with sellside pressure from market makers being absorbed on exchanges. “Another rally driven by asia bid. TWAP buyers absorbing the sell pressure from MMs. Large spot bid lifting offers & ask wall pulled prior to anothe...
Bitcoin price rally provides much needed relief for BTC miners
Bitcoin mining powers network transactions and BTC price. During the 2021 bull run, some mining operations raised funds against their Bitcoin ASICs and BTC reserves. Miners also preordered ASICs at a hefty premium and some raised funds by conducting IPOs. As the crypto market turned bearish and liquidity seized within the sector, miners found themselves in a bad situation and those who were unable to meet their debt obligations were forced to sell the BTC reserves near the market bottom or declare bankruptcy Notable Bitcoin mining bankruptcies in 2022 came from Core Scientific, filing for bankruptcy, but BTC’s early 2023 performance is beginning to suggest that the largest portion of capitulation has passed. Despite the strength of the current bear market, a few miners were able to i...
Bitcoin eyes $21.4K zone as analyst predicts BTC price will chase gold
Bitcoin (BTC) rose toward new multi-month highs on Jan. 20 as analysis predicted a new trading range above $18,000. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin price range “well defined” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD testing but preserving support at $21,000. The pair edged higher at the Wall Street open, in line with United States equities as the third trading week of an explosive January drew to an end. Despite misgivings over the rally’s fundamental strength, Bitcoin continued to avoid significant corrections, with exchange order book analysis revealing $23,000 as the next big resistance zone to crack. “I view the lack of BTC liquidity below $18k and above $23k as a lack of sentiment for those levels at this time,”...
Bitcoin sees new 4-month high as US PPI, retail data posts ‘big misses’
Bitcoin (BTC) set yet another multi-month high before the Jan. 18 Wall Street open as United States macroeconomic data fell far wide of expectations. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView U.S. PPI numbers fall wide of the mark Data from Cointelegraph Markets Pro and TradingView showed BTC/USD spiking to $21,646 on Bitstamp. A subsequent correction saw the pair moving around $21,400 at the time of writing, with U.S. stocks reacting to surprise data surrounding economic activity in December. Specifically, the Producer Price Index (PPI) showed cost rises cooling faster than consensus predicted, with retail sales also declining beyond estimates. “PPI comes in at 6.2%, while expectation was 6.8%. Core PPI comes in at 5.5%, while expectation was 5.7%,” Cointelegraph contribu...
‘To the moon’ or ‘total crash’? Bitcoin price hits new 4-month highs
Bitcoin (BTC) spiked higher around the Jan. 17 Wall Street open as nervous analysts waited for further cues. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Opinions diverge over Bitcoin’s fate Data from Cointelegraph Markets Pro and TradingView showed BTC/USD briefly touching $21,594 on Bitstamp, marking its highest since Sep. 13. As bullish impulses continued to hit the chart, reactions stayed conservative amid an atmosphere of suspicion over the true source of Bitcoin’s return to form. One such cautious take came from Michaël van de Poppe, founder and CEO of trading firm Eight, who eyed behavior around a key exponential moving average (EMA) across crypto. “Food for thought; Total market capitalization and the altcoin market capitalization are both at the 200-day EMA...
Price analysis 1/17: SPX, DXY, BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, DOT
Risk assets have started the new year on a strong note. The S&P 500 (SPX) and the Nasdaq closed in the positive for the second successive week and also notched their best weekly performance since November. Bitcoin (BTC) led the recovery in the crypto markets with a sharp 21% rally last week. That sent the Bitcoin Fear and Greed Index into the neutral territory of 52 on Jan. 15, its highest since April 5, 2022. However, the index has given back its gains and is again back into the Fear zone on Jan. 17. Daily cryptocurrency market performance. Source: Coin360 The strong rally in Bitcoin has divided analysts’ opinions. While some expect the rally to be a bull trap, others believe that the up-move could be the start of a new bull market. The confirmation of the same will happen...
Bitcoin price breakout or bull trap? 5K Twitter users weigh in
Bitcoin (BTC) is trading at its highest levels in over two months, but the phrase on every trader’s lips is “bull trap.” After delivering 25% returns in a single week, BTC/USD remains under suspicion among Bitcoin bear market survivors. Bitcoin bull trap fails to convince It has been called the “biggest bull trap” ever seen, and despite holding above $20,000, BTC price action is fooling no one. This week, with Wall Street closed until Jan. 17, out-of-hours trading continues to support higher levels, but faith in these staying around for long is hard to find. For those who observed drop after drop throughout 2022, culminating in the FTX scandal, it appears simply too good to be true that Bitcoin will now flip bullish. That is the current result of Cointelegraph’s dedicated Twitter sur...
BTC price cancels FTX losses — 5 things to know in Bitcoin this week
Bitcoin (BTC) starts a new week at new 2023 highs but still dividing opinion after a blistering price rally. In what is shaping up to be the antidote to last year’s slow bleed lower, January has delivered the volatility Bitcoin bulls were hoping for — but can they sustain it? This is the key question for market participants going into the third week of the month. Opinion remains divided on Bitcoin’s fundamental strength; some believe outright that the march to two-month highs is a “sucker’s rally,” while others are hoping that the good times will continue — at least for the time being. Beyond market dynamics, there is no shortage of potential catalysts waiting to assert themselves on sentiment. United States economic data will keep coming, while corporate earnings could deliver some fresh ...
5 altcoins that could breakout if Bitcoin price stays bullish
The cryptocurrency markets have made a strong comeback in the past few days. That drove the total crypto market capitalization to $995 billion on Jan. 14, according to CoinMarketCap data. Bitcoin (BTC) led the recovery from the front and skyrocketed above $21,000 on Jan. 14. After the sharp rally, the big question is whether the recovery is a dead cat bounce that is a selling opportunity, or is it the start of a new uptrend. It is difficult to predict with certainty if a macro bottom has been made but the charts suggest that a bottoming process has begun. Crypto market data daily view. Source: Coin360 Independent market analyst HornHairs highlighted that the 2017 to 2018 bear market lasted for 364 days and from 2021 to the current market low, the duration is again 364 days. Another interes...
Bitcoin fails to convince that bottom is in with $12K ‘still likely’
Bitcoin (BTC) may be circling its highest levels in months, but few are convinced that the bull market is back. Ahead of a key weekly close, BTC/USD remains near $21,000, data from Cointelegraph Markets Pro and TradingView shows, with analysts nervous about the good times ending all too soon. Bitcoin to see new “depression” before bull run resumes Bitcoin is dividing opinion after its week of brisk gains. Warnings over a potential pullback abound, while others are already commiserating bears ahead of time. “Now bears will be caught in the vicious cycle of praying for pullbacks to go lower, not realizing the tides have shifted for a time and we’re going higher,” Chris Burniske, former head of crypto at ARK Invest, summarized. Even more optimistic takes such as that of Burniske, however, do ...
