Bitcoin

A key long-term price indicator for Bitcoin, the 200-day simple moving average (SMA) appears to be losing its bullish momentum as the US economy added fewer jobs in August 2024. Bitcoin Must Overcome The 200-Day SMA To Reverse Trend The 200-day SMA is considered one of the more reliable long-term indicators to gauge an asset’s upcoming price action. Bitcoin’s 200-day SMA shows a weakening bullish momentum, giving short-term traders little joy. Notably, this is the first time since October 2023…

The post Crypto Blood Bath: Bitcoin Loses $54k Levels, No Bullish Action in Sight appeared first on Coinpedia Fintech News Bitcoin experienced a sharp price fluctuation, first rising to $57,000 and then dropping below $55,000 after the release of the U.S. jobs report, triggering volatility in the crypto market. This sudden price swing led to nearly $50 million in liquidations within an hour. Major altcoins like Ethereum, Solana, Ripple’s XRP, and Cardano also saw losses of 3% to 5%.  Bitcoin…

The post Bitcoin Rallies as U.S. Job Growth Hints At 25 Basis Point Rate Cut appeared first on Coinpedia Fintech News Ahead of the U.S. jobs report, Bitcoin (BTC) and the cryptocurrency market experienced a solid decline. Bitcoin’s price fell to approximately $55,200 in the last 24 hours, marking a month low. Yet, following the release of positive job data, Bitcoin regained its momentum, now aiming for a potential bullish weekend. The addition of 142K jobs in the U.S. has…

Mastercard has launched a crypto debit card that will allow users to spend their Bitcoin directly from self-custodial wallets without the involvement of third-party intermediaries.  Expanding Crypto Use in Daily Transactions Mastercard, a global leader in payment solutions, has teamed up with crypto payments provider Mercuryo to introduce a euro-denominated crypto debit card that is set to transform how digital assets are used for everyday transactions, particularly within the European market. This debit card will enable holders of Bitcoin and…

Markets anticipate a 50 basis point (bp) rate cut in September amid deteriorating US Job data. According to the US Non-farm Payrolls (NFP) data released on Friday, the US economy added 142,000 jobs in August, below the expected 164,000. Due to this anticipation, Bitcoin shot up over 2% within 30 minutes. Bitcoin Approaches $57,000 At the time of writing, Bitcoin (BTC) is trading for $56,821, swiftly moving towards the $57,000 mark. The August unemployment rate hit expectations, coming in at…

The post Bitcoin Price Prediction: A Major Drop or a Massive Reversal? Here’s What Experts Say! appeared first on Coinpedia Fintech News In the last 7 days, Bitcoin has dropped by at least 5.8%. At the beginning of the month, it was nearly $58,964.54, but now it stands at a low of $56,124. Many investors are wondering if it will plunge further. According to a recent Bitcoin price prediction from a cryptocurrency expert, there is a possibility of further decline.…

The post Bitcoin ETFs Face $1 Billion Outflow: Is BlackRock the Only One Staying Strong? appeared first on Coinpedia Fintech News U.S. Bitcoin ETFs are facing a tough time, with seven straight days of big outflows. According to data from SoSoValue, on September 5, 2024, Bitcoin ETFs saw a massive $211.15 million pulled out. Over this losing streak, the total outflow has now passed $1 billion. Fidelity’s ETF (FBTC) has been hit the hardest, with $149.49 million taken out, followed…

The post Whales Are Buying This Dip! Expert Says Stack Altcoins When Bitcoin Hits $60k appeared first on Coinpedia Fintech News Bitcoin has lost the crucial $60k level and the market sentiment seems to have turned red. However, amid these tough and challenging times,  Brian Q from Santiment appeared on the Thinking Crypto podcast and revealed the activity of Bitcoin whales during this time of market volatility.  According to the data, Bitcoin whales—those holding large amounts of Bitcoin—have been accumulating…

Data shows three popular Bitcoin momentum indicators recently formed a death cross pattern. Here’s what usually follows this formation. Bitcoin Momentum Indicators Have Seen Bearish Crossovers Recently In a new CryptoQuant Quicktake post, an analyst has discussed the latest trend in three momentum indicators related to Bitcoin. The momentum indicators here refer to combinations of some important moving averages (MAs) related to the cryptocurrency. The first is the “Active Address Momentum,” which involves the 30-day and 365-day MAs of the…