Bitcoin (BTC) price has been unable to close above $32,000 for the past fifteen days and is currently down 37% year-to-date. Although that might seem excessive, it does not stand out among some of the largest U.S.-listed tech companies that have also sustained notable losses recently. In this same 15-day period, Shopify Inc. (SHOP) stock dropped 76%, Snap Inc. (SNAP) crashed 73%, Netflix (NFLX) is down 70% and Cloudflare (NET) presented a negative 62% performance. Cryptocurrency investors should be less concerned about the current "bear market" considering Bitcoin's 79% annualized volatility. However, that is clearly not the case, because Bitcoin's …

The Bitcoin (BTC) chart has formed a symmetrical triangle, which currently holds a tight range from $28,900 to $30,900. This pattern has been holding for nearly two weeks and could potentially extend for another two weeks before price makes a more decisive movement. For those unfamiliar with technical analysis, a symmetrical triangle can be either bullish or bearish. In that sense, the price converges in a series of lower peaks and higher lows. The decisive moment is the support or resistance breakthrough when the market finally decides on a new trend. Thus, the price could break out in either direction. …

Over the past nine days, Bitcoin's (BTC) daily closing price fluctuated in a tight range between $28,700 and $31,300. The May 12 collapse of TerraUSD (UST), previously the third-largest stablecoin by market cap, negatively impacted investor confidence and the path for Bitcoin' price recovery seems clouded after the Nasdaq Composite Stock Market Index plunged 4.7% on May 18. Disappointing quarterly results from top United States retailers are amping up recession fears and on May 18, Target (TG) shares dropped 25%, while Walmart (WMT) stock plunged 17% in two days. The prospect of an economic slowdown brought the S&P 500 Index …

Bitcoin (BTC) bounced 19% from the $25,400 low on May 12, but has investor confidence in the market been restored? Judging by the ascending channel formation, it’s possible that bulls at least have plans to recover the $30,000 level in the short term. Does derivatives data support reclaiming $30,000, or is Bitcoin potentially heading to another leg down after failing to break above $31,000 on May 16? Bitcoin price falters in the face of regulatory concerns and the Terra debacle One factor placing pressure on BTC price could be the Luna Foundation Guard (LFG) selling 80,081 Bitcoin, or 99.6%, of …

Investors were surprised by Bitcoin (BTC) price falling to $25,500 on May 12, and this shock extended to options traders. The strong correction was not restricted to cryptocurrencies and some large-cap stocks faced 25% or heavier weekly losses in the same period. Growing economic uncertainty impacted S&P 500 index members like Illumina (ILMN), which declined by 27% over the past seven days and Caesars Entertainment (CZR) faced a 25% drop. Shopify (SHOP), one of the largest Canadian e-commerce companies also saw its stock plunge by 28%. Traders are scratching their heads and asking whether it’s the U.S. Federal Reserve tightening …

Bitcoin’s (BTC) current 20% drop over the past four days has put the price at its lowest level in nine months and while these movements might seem extraordinary, quite a number of large listed companies and commodities faced a similar correction. For example, natural gas futures corrected 15.5% in four days and nickel futures traded down 8% on May 9. Other casualties of the correction include multiple $10 billion and higher market capitalization companies that are listed at U.S. stock exchanges. Bill.com (BILL) traded down 30%, while Cloudflare (NET) presented a 25.4% price correction. Dish Network (DISH) also faced a …

Bitcoin (BTC) price has been stuck in a falling wedge pattern for the past two months and during this time it has tested the $37,600 support on multiple instances. Adding to this “bearish” price action, BTC is down 16% year-to-date, which is in line with the Russell 2000s performance. The real driver of Bitcoin’s current price action is investors’ concerns about worsening macroeconomic conditions. Professional investors are worried about the impact of the U.S. Federal Reserve’s tightening economic policies and on May 3, billionaire hedge fund manager Paul Tudor Jones said that the environment for investors is worse than ever …

Bitcoin (BTC) has been unable to break from the 26-day-long descending channel. Investors are uncomfortable holding volatile assets after the United States Federal Reserve pledged to reduce its $9 trillion balance sheet. While inflation has been surging worldwide, the first signs of an economic downturn showed as the United Kingdom's retail sales fell 1.4% in March. Moreover, Japan's industrial production dropped 1.7% in March. Lastly, the U.S. gross domestic product fell 1.4% in the first quarter of 2022. This bearish macroeconomic scenario can partially explain why Bitcoin has been on a downtrend since early April. Still, one needs to analyze …

The last time Bitcoin (BTC) traded above $50,000 was Dec. 27, 2021. Since then, four months have passed, but traders seem somewhat optimistic that inflation has hit the necessary threshold to trigger cryptocurrency adoption. In theory, the 8.5% inflation in the United States means that every five years, the prices increase by 50%. This essentially turns $100 into $66 by slashing 33% of the dollar’s purchasing power. The U.S. Federal Reserve FOMC meeting is expected to rule on the interest rates on May 4, but more importantly, the FED is expected to announce a program to offload part of its …

Up until April 25, Bitcoin (BTC) bulls had been defending the $38,000 level, but bulls were caught off-guard by the recent drop. As Bitcoin plunged from $46,700 to $37,700 between April 5 and 26, most of the bullish bets for the upcoming $1.96 billion monthly options expiry became worthless. Regulatory concerns continue to pose a threat to Bitcoin and on April 26, the New York State Assembly passed a bill banning new proof-of-work (PoW) cryptocurrency carbon-based mining facilities in the state. Fortunately for Bitcoin, mining equipment is portable so there's no real risk to the Bitcoin network's security but the …

Bitcoin (BTC) remains below $40,000 for the third consecutive day and the most likely source of the volatility is the worsening condition of traditional markets. For instance, the S&P 500 is down 5% since April 20 WTI crude price dropped 9.5% in seven days, erasing all of the gains accrued since March 1. Meanwhile, China has been struggling to contain its worst outbreak of Covid-19 despite strict lockdowns in Shanghai and according to Timothy Moe, chief Asia-Pacific equity strategist at Goldman Sachs, "it's no surprise, and it makes all sorts of logical sense that the market should be concerned about …

Bitcoin (BTC) dipped below $40,000 support on April 18, and the two-week 15% correction was enough to prompt predictions of $30,000 prices in the near term. Meanwhile, regulatory uncertainties continue to be a key concern for investors, including the failed European Know Your Customer (KYC) and Anti-Money Laundering (AML) proposed rules for ”unhosted” private wallets. For instance, exchanges started to demand additional information on their users just last week, causing some discomfort to traders. Europe regulation “near miss” brings distress The European Union Parliament’s Committee on Economic and Monetary Affairs voted on March 14 to ban or restrict proof-of-work-based crypto …