Bitcoin (BTC) is still due to return to near $20,000, fresh analysis warns as BTC/USD attempts to retest multi-month highs. Buy-the-dip set for invalidation at $20,700 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD staging a second run-up to near $25,000 on Aug. 13, so far seeing rejection. The pair had gained over $1,300 overnight, but as bulls again ran out of momentum near crucial resistance, few were optimistic over Bitcoin avoiding a deeper comedown. "One last high to rekt early shorts," popular trading account Il Capo of Crypto told Twitter followers. Similarly cautious was fellow trader Jibon, who …

Bitcoin (BTC) could not overcome the barrier at $25,000 on Aug. 11 even though it had two catalysts in the form of a "favorable" Consumer Price Index print and news that BlackRock — the world's largest asset manager, overseeing over $10 trillion in total assets — had launched a spot Bitcoin investment product. In comparison, Ether (ETH) has managed to hold on to its recent gains on news that the Goerli testnet had successfully activated proof-of-stake, clearing the path for Ethereum’s mainnet transition planned for Sept. 15 or Sept. 16. Data from Santiment shows that Ether whale transactions have increased …

An ascending triangle formation has driven the total crypto market capitalization toward the $1.2 trillion level. The issue with this 7-week-long setup is the diminishing volatility, which could last until late August. From there, the pattern can break either way, but Tether and futures markets data show bulls lacking enough conviction to catalyze an upside break. Investors cautiously await further macroeconomic data on the state of the economy as the United States Federal Reserve (FED) raises interest rates and places its asset purchase program on hold. On Aug. 12, the United Kingdom posted a gross domestic product (GDP) contraction of …

Bitcoin (BTC) headed lower on Aug. 12 as a broadly expected comedown from two-month highs began to take shape. 200-week moving average becomes pivot Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to $23,615 on Bitstamp prior to the day's Wall Street open, marking 24-hour losses of around 5.2%. The pair had seen its highest levels since June 13 as enthusiasm over declining United States inflation combined with news that the world's largest asset manager, BlackRock, was launching a Bitcoin private fund. While some commentators hoped for Bitcoin to tackle resistance closer to $30,000 as a result, others …

Bitcoin (BTC) pierced the top of a stubborn trading range on Aug. 11 as a decidedly awkward rally took hold of risk assets. Bitcoin retracement warnings intensify near $25,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting highs of $24,750 on Bitstamp, marking its best performance since June 13. The pair had attempted several breakouts to the top of the range in prior weeks, these all failing in the face of stiff selling pressure. New United States inflation data released this week formed a long-awaited catalyst for change, however, with Bitcoin and altcoins rising in step with equities …

The Aug. 10 Consumer Price Index (CPI) report shows year-over-year inflation rose 8.5% in July and while this figure is below economists’ expectations of 8.7%, it is still high. Although inflation remains much higher than the Federal Reserve's 2% target, the marginal slowdown raises hopes that the rate hikes by the Federal Reserve have started to work. That has reduced the probability of a 75 basis point rate hike in the September meeting from 68% on Aug. 9 to 37.5% according to CME group data. Risky assets, including the cryptocurrency markets, responded positively to the CPI print. Compared to Bitcoin …

Bitcoin (BTC) regained $24,000 but failed to hit new multi-month highs on Aug. 10 as United States inflation appeared to be slowing. CPI cuts risk assets much-needed slack Data from Cointelegraph Markets Pro and TradingView confirmed hourly gains of around $1,000 after U.S. Consumer Price Index (CPI) data for July showed a slowdown versus the previous month. While managing $24,179 on Bitstamp, BTC/USD nonetheless did not attract enough momentum to challenge levels from the day prior. Nonetheless, relief among traders was palpable, as declining inflation should signal to the Federal Reserve that less aggressive interest rate hikes are necessary going …

Tornado Cash (TORN) has lost almost half its market valuation two days after being slapped with sanctions by the U.S. Treasury Department. The department accused Tornado Cash, a crypto mixer platform, of laundering more than $7 billion in cryptocurrencies, including a stash of $455 million allegedly stolen by North Korea-based hackers. Immediate reactions were followed by U.S.-based crypto companies, including Circle and Coinbase. In a controversial move, the popular crypto firms blocked the movements of their jointly-issued stablecoin USDC tied to Tornado Cash's blacklisted smart contracts. TORN price drops 45% The news prompted traders to limit their exposure to TORN, …

The Celsius (CEL) community has rallied on Twitter once again to fight off short positions against their favored crypto token despite multiple challenges faced by the exchange, including bankruptcy and rumors of the company’s CEO fleeing from the United States. Thousands of tweets with the #CelShortSqueeze tag have been posted on the social media platform, advertising their long positions on CEL while encouraging others to do the same and post more content about the short squeeze. According to Twitter user Anakinsdad, the community is “at war with the shorts.” Another user posted: what #CelShortSqueeze teaches you is never to go …

Crypto and equities markets took a bit of a tumble on Aug. 9 as traders grew a bit skittish ahead of tomorrow’s Consumer Price Index (CPI) report. The details of the print will shine a light on whether or not the Federal Reserve’s aggressive interest hikes are effective in tamping runaway inflation and it could have an impact on the size of future hikes. Earlier in the week, Tesla CEO Elon Musk suggested that July data will reflect the United States reaching peak inflation and that any recession will be “mild to moderate.” Right now the consensus is that July …

Bitcoin (BTC) is facing fresh competition from altcoins this month as data shows that — technically — it is already "alt season." Figures from CoinMarketCap and TradingView show that BTC currently makes up around 41% of the overall crypto market capitalization — its lowest since the start of 2022. Bitcoin sheds market cap prowess After suffering at the hands of the Terra LUNA collapse, altcoin markets have rallied considerably in recent months. Alongside Bitcoin's return from 18-month lows of $17,600 in June, altcoins have enjoyed their own renaissance, one which is now giving Bitcoin bulls a run for their money. …

An Ethereum fork token that does not yet exist, dubbed ETHW, is trading under $100 across several crypto exchanges after debuting at $30. ETHW and ETHS begin trading ETHW is the native asset to the ETHPoW chain. ETHPoW, for now, is a possible new chain backed by proof-of-work (PoW) miners as the original chain switches to proof-of-stake (PoS) consensus in September's "Merge" event. Meanwhile, the proof-of-stake version ETHS is trading at around $1,600, or the difference between the ETH price and the ETHW price. We promise there won't be any premining or additional token issuance. So there is nowhere to …