Bitcoin

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Bitcoin’s price has surged past $62,000. The upswing was catalyzed by the recent US job market report. It showed a looser labor market, which might be good news for the Federal Reserve. The price rebound BTC experienced comes after a corrective period fueled by market and regulatory uncertainties. Bitcoin Shows Signs of Recovery After US Labor Data The US Bureau of Labor Statistics revealed a slight increase in the unemployment rate to 3.9%. This contradicts expectations that unemployment would stabilize…

Bitcoin’s price went on quite the wild ride throughout the past seven days. The cryptocurrency is down 4.2% during that period but this summary doesn’t do the action any justice, so let’s dive in. The market was fairly calm in the beginning of the week, trading at around $64K with little signs of significant volatility. Things started going downhill after April 30th, however. It was then BTC took a massive hit, dropping toward $60K, sending many investors in panic. The…

The recent dip in the price of Bitcoin below the $59,000 support level has sent jitters through the cryptocurrency market. While the price drop triggered liquidations in futures markets, analysts warn that a more significant decline could be on the horizon in the absence of a full-blown market capitulation. Measured Retreat, Not Mass Exodus Following the price drop, CryptoQuant, a cryptocurrency analysis platform, reported roughly $120 million in liquidated long positions (bets that the price would go up). This liquidation…

Bitcoin has rallied almost 3% over the past 24 hours, showing signs of recovery from its recent dip. Just two days ago, BTC dropped below the $60,000 mark, reaching as low as $56,500, causing some concern across the market. However, signs of a steady recovery are apparent as we move forward into the post-halving pattern. Meanwhile, BRC20 tokens are gaining more widespread attention as a way to increase Bitcoin’s utility and send the price soaring again. The new BRC20 token,…

Days after suffering devastating losses that dragged its price to $56,500, bitcoin rebounded on Thursday and during the early hours of Friday. This coincided with a slowdown in outflows from spot bitcoin exchange-traded funds (ETFs) in the US compared to the previous day’s record outflows. According to the latest data compiled by SoSoValue, spot bitcoin ETFs saw a net outflow of $34.4 million on May 2nd. Bitcoin ETFs Experience Slower Outflows BlackRock’s IBIT and Fidelity’s FBTC, the second and third-largest…

Bitcoin’s price recovery attempts continued in the past 24 hours as the asset neared $60,000 for the first time in days but failed to overcome that line. The altcoins are also slightly in the green, with ETH closing down on $3,000, while SOL has neared $140. BTC Goes for $60K The primary cryptocurrency experienced several quite brutal days in which its price dropped by more than eight grand. It all started quite positively actually as BTC soared to nearly $65,000…

The post Bitcoin Bull Trap: BTC Price Still At Risk of Dropping 20% in Coming Days appeared first on Coinpedia Fintech News On Crypto Banter’s channel, analyst Kyledoops recently talked about Bitcoin’s crucial position below $60,000 and the importance of the $58,000 to $60,000 range. He warned viewers about a possible trap in the market and shared tips to avoid it. He noticed a bit of relief in the market, with many top coins bouncing back on hourly and daily…

The post Why This Is the Best Time To Buy Bitcoin? appeared first on Coinpedia Fintech News Analyst Rekt Capital recently delved into the question: Is Bitcoin headed for a 40% correction? He has been discussing this topic for a while now, and in their latest video, he explored the patterns of corrective periods in the Bitcoin cycle. The analyst looked at the duration of these corrections, how long they typically last, and how they affect the current cycle compared…