Bitcoin (BTC) price continues to limp lower as traders in the U.S. hit the BBQ to enjoy the upcoming Memorial Day holiday on May 31 and regulated futures and options markets like the CME are closed through the weekend. Data from Cointelegraph Markets Pro and TradingView shows that after a brief attempt by Bitcoin (BTC) bulls to rally above $37,000 in the early morning hours on May 29, the price has tumbled below $34,000 as the support needed for a move higher failed to manifest. Price action for Ether (ETH) was nearly identical to that of BTC, with an attempt …

Unloading Bitcoin (BTC) spot positions when it starts crashing violently upon forming its all-time highs is a bad investment call, at least according to its historical price action. The flagship cryptocurrency's eleven-year lifetime has seen it undergoing many bullish and bearish cycles. The BTC/USD exchange rate typically rises parabolically. It later trims more than half of those gains down as profitable traders sell the top. But, at the same time, traders who buy bitcoin around its local top suffer longer periods of losses. Got Bitcoin? Chances are you’re in profit However, the overall historic price trajectory of Bitcoin remains skewed …

Price action for Bitcoin (BTC) and the wider cryptocurrency market was relatively subdued on May 27 as nervous traders remain unsure of what comes next following last week’s market plunge that saw leveraged traders wiped out as BTC dipped as low as $30,000 before its price rebounded. Data from Cointelegraph Markets Pro and TradingView shows that while Bitcoin's price has managed to put in higher highs and higher lows over the past week, bulls continue to face stiff resistance at any meaningful attempt to break above $40,000 as bears defend the psychologically important level. For many traders, the recent correction …

The amount of Bitcoin (BTC) held by whales increased by around 14% after Tesla announced its foray into the cryptocurrency sector in early February 2021. The latest data from on-chain analytics platform Glassnode shows an inflow of roughly $19.5 billion worth of Bitcoin — according to current exchange rates — into wallets that hold at least 100 BTC and a maximum of 1,000 BTC. The deposits spiked right after Tesla revealed in its January securities filings that it had added $1.5 billion worth of BTC to its balance sheet. The news hit the wire on Feb. 8 when the cost …

The price of Bitcoin surged higher on May 26, breaching the $40,000 level for the first time in five days as traders brushed aside concerns about China's crypto ban and the United States' crypto tax proposal. The benchmark cryptocurrency reached an intraday high of $40,855 before turning lower owing to profit-taking sentiment. In the meantime, analysts such as Cheds and Korous AK expect BTC/USD to hit $42,000 in the short term but advised caution on extended upside positions unless the spot market confirms a clear bullish breakout. Cheds, particularly, showed a bullish conviction if Bitcoin reclaims its 200-day simple moving …

The current cryptocurrency market scenario is only for traders who have an extremely high appetite for risks. But for the faint of heart, analysts advise patience and caution ahead. The outlook stands tall for Bitcoin (BTC) and Ether (ETH), the top cryptocurrencies by market capitalization that more or less behave as locomotives for the rest of the crypto market. As of Wednesday, the ETH/USD Realized Volatility on a 30-day timeframe has reached near its 2017 peak levels, according to data provided by Skew. Meanwhile, Bybt.com shows Bitcoin’s 30-day volatility at its yearly high, suggesting that the benchmark asset remains at …

As the price of Bitcoin (BTC) is attempting to establish support at $37,000 on Tuesday, the recent $30,000 lows may have been the bottom, suggests one derivatives market indicator that has a history of accurately predicting BTC/USD cyclical lows following its bear cycles. The last time it predicted a bottom was on Nov. 1, following which the cost to purchase one Bitcoin surged from $13,771 to as high as $64,899 on Coinbase. Anatomy of a bullish indicator Dubbed as “rolling basis,” the indicator mathematically represents the relative difference between the price of the futures contract and the spot rate on …

On Thursday, the price of Ether (ETH) surged from $2,443 to almost $3,000 — a 13.55% climb, according to Coinbase data. The strong intraday upside move appeared a day after ETH’s 27.61% price crash. It thus raised hopes that the second-largest cryptocurrency by market capitalization would eventually recover in the days ahead. But the prices declined nevertheless, leaving an impression that the upside recovery in the Ether market on Thursday was a mere “dead cat bounce” — a small, brief rebound in the price of a falling asset that acts as a bearish continuation pattern despite beginning like a bullish …

For the crypto faithful who have been in the space since 2017, the market moves over the past few days have caused flashbacks for some, stirring up long-repressed memories of Bitcoin’s (BTC) fall from $20,000 to $3,000 at what was the start of a long, two-year "crypto winter." The 50% plunge in Bitcoin's price from just shy of $60,000 on May 10 to a low of $30,000 during the worst part of the May 19 sell-off has prompted many to say the top is in for the 2021 bull market, but a recent article by Chainalysis chief economist Philip Gradwell …

Bitcoin bulls should brace for aggressive downside market corrections in the sessions ahead, especially as the benchmark cryptocurrency breaks below a critical support level. Dubbed the 20-week exponential moving average (EMA), the wave has historically served as a primary downside target for bulls to accumulate Bitcoin (BTC). For instance, the BTC/USD exchange rate maintained its bullish bias all across 2020 while trading above the 20-week EMA wave. It eventually closed the year up more than 400%. Similarly, the 20-week EMA wave supported massive bullish rallies in the April–June 2019 session. Meanwhile, the price floor overstayed its welcome in the 2015–2017 …

Traders valued Internet Computer (ICP) at $630 in its debut on Coinbase on Monday. On Binance, however, the dollar bids for the token surged to as high as $3,093 as of Tuesday. Meanwhile, HitBTC reported ICP at a peak of roughly $407. The huge price differences across multiple cryptocurrency exchanges showed a berserk trading sentiment in the Internet Computer market, landing ICP in the list of top 10 cryptocurrencies by market capitalization, surpassing even veterans such as XRP, Dogecoin (DOGE) and Cardano (ADA), and reaching as high as the fourth spot. Major price corrections followed on profit-taking sentiment. Entering the …

United States cryptocurrency giant Coinbase is acquiring institutional-grade blockchain data analytics platform Skew. Greg Tusar, vice president of institutional products at Coinbase, announced the news Friday, stating that the new acquisition will help customers make more informed trading decisions by using real-time data analytics. “We’re excited to integrate skew’s data analytics platform with Coinbase Prime, allowing our customers to track cryptocurrency spot and derivatives markets in real-time. With skew, we’ll arm professional traders with dynamic, aggregated market data, presented in a highly actionable format, all within our market leading prime brokerage,” Tusar noted. The acquisition is part of Coinbase’s broader …