BTC

Bitcoin’s price has been consolidating above $60K over the last few months. Yet, the price has broken below the level today, and investors are in a state of panic, wondering if the bull market is over. Technical Analysis By TradingRage The Daily Chart On the daily chart, the price has created a large descending channel pattern since March. Yet, it has broken it to the downside, and the cryptocurrency is aggressively dropping toward the $52K support level. The 200-day moving…

The price of Bitcoin dropped to $57,300 as investors were unsure what to expect before the Fed announcement. Permanent holders and whales reduce the demand, which sends the market anticipation of a decline. Bitcoin and various cryptocurrencies experienced a significant downturn, dropping to their lowest levels in over two months. This decline coincided with broader market pessimism as investors awaited the U.S. Federal Reserve’s impending interest rate decision. Bitcoin’s price dipped below $57,000 for the first time since late February,…

The crypto market is awaiting feedback from FOMC on the potential interest rate policy. Market sentiment remains bearish but macroeconomic headwinds may tilt sentiment. The crypto market continues to see increased tension amid anticipations of the Federal Open Market Committee (FOMC) meeting. People are awaiting the results with the expectation of maintained interest rates as Bitcoin (BTC), the world’s largest digital asset surges above $60,000. Possible Outcomes of FOMC Meeting The FOMC is the division of the United States Federal…

Hong Kong debuts Bitcoin and Ethereum spot ETFs today. Ethereum according to officials is not a security under Hong Kong laws. According to reports, the spot Bitcoin (BTC) and  Ethereum (ETH) Exchange-Traded Fund (ETF), which began as speculation commenced trading Today in Hong Kong. This development has established a new precedent for both BTC and ETH, as they aim for fresh all-time highs. Bitcoin and Ethereum ETF Trading Begins in Hong Kong A report from Wu Blockchain revealed that three…

Bitcoin has finally broken below the $60,000 support level for the first time in two months. The world’s largest digital asset has largely been in a euphoria phase since the beginning of the year, particularly after the launch of Spot Bitcoin ETFs in the US market. However, the current consolidation of the price of Bitcoin indicates the euphoria might be fading. According to a new report from Glassnode, an on-chain analytics firm, the euphoria surrounding Bitcoin, which has been active…

Nic Puckrin, the co-founder and CEO of crypto information portal Coin Bureau, thinks selling one’s bitcoins (BTC) in May would be more profitable than offloading the assets in September. According to his tweet, the cumulative returns of disposing of one’s cryptocurrencies in May have surpassed selling in September or any other time of the year by over 1000%. Sell in May and Go Away Puckrin explained that the phrase “Sell in May, Go Away” is from the traditional finance space…

Bitcoin has fallen through the important support at $59,000. Currently at $57,000, the king of the cryptocurrencies could plunge even further down. How far will it go? Bitcoin breaches last line in sand The last line in the sand has been breached. $BTC took the dreaded plunge and is currently clinging to support at $57,000. A further fall here is likely to take the price all the way down to $51,000, with perhaps a quick stop at around $54,000. Source:…

The Bitcoin Fear and Greed Index shows crypto investor sentiment has turned neutral following BTC’s slump below $57,000. According to data from Alternative.me, the fear and greed index sits at 54 for the first time in three months, signaling that crypto investors are neither fearful nor greedy amid the current market conditions. Investors Harbor Neutral Sentiment The last time investors harbored a neutral sentiment was on January 28, 2024, when the price of BTC hovered around $42,000. At the time,…

TL;DR Despite recent price drops in the cryptocurrency market, including bitcoin, some investors seem interested in potential purchasing opportunities, reflected by increased searches for “buy the dip crypto.” On-chain metrics like the MVRV ratio and shifts in open interest suggest a potential turnaround, indicating it might be a good time to invest in the primary digital asset. Viewing the Crypto Crash as a Buying Opportunity The cryptocurrency sector has been in a state of severe correction in the past few weeks, with…