The end of the first week in June brought more pain to global financial markets as the tech-heavy Nasdaq composite closed the day on June 3 down 2.3%, while the S&P 500 shed 1.4% of its value. The cryptocurrency market hasn’t faired any better and data from Cointelegraph Markets Pro and TradingView shows that an early morning attempt to push Bitcoin (BTC) above $30,000 was hit with a wave of selling that dropped it to a daily low of $29,286. Here’s a look at what several market analysts are saying about the outlook for BTC as it remains pinned inside …

Bitcoin's (BTC) price dropped by more than 50% after peaking out at $69,000 six months ago but the plunge did little in forcing some of its wealthiest investors into selling. Notably, the number of Bitcoin under Coinbase Custody for institutional clients rose by 296% since Q4 2020, showcasing the most investors decided to "hodl" onto their investments despite BTC price being down well over 50% from its all-time highs. JUST-IN: #Bitcoin under @Coinbase Custody for institutional clients increased by 296% since Q4'20. pic.twitter.com/iILge2Cane — CryptoQuant.com (@cryptoquant_com) May 30, 2022 For instance, institutions that deposited 10,939 BTC (~$335 million at May …

Bear markets are typically marked by a capitulation event where discouraged investors finally abandon their positions and asset prices either consolidate as inflows to the sector taper off or a bottoming process begins. According to a recent report from Glassnode, Bitcoin (BTC) hodlers are now “the only ones left,” and they appear to be “doubling down as prices correct below $30K.” Evidence of the lack of new buyers can be found looking at the number of wallets with non-zero balances, which has plateaued over the past month, a process that was seen after the crypto market sell-off in May of …

Buying low and selling high is easier said than done, especially when emotion and volatile markets are thrown into the mix. Historically speaking, the best deals are to be found when there is “blood on the streets,” but the danger of catching a falling knife usually keeps most investors planted on the sidelines. The month of May has been especially challenging for crypto holders because Bitcoin (BTC) dropped to a low of $26,782, and some analysts are now predicting a sub-$20,000 BTC price in the near future. It’s times like these when fear is running rampant that the contrarian investor …

Every Bitcoin investor is searching for signals that the market is approaching a bottom, but the price action of this week suggests that we're just not there yet. Evidence of this can be found by looking at the monthly return for Bitcoin (BTC), which was hit with a rapid decline that “translated to one of the biggest drawdowns in monthly returns for the asset class in its history,” according to the most recent Blockware Solutions Market Intelligence Newsletter. Bitcoin continues to trade within an increasingly narrow trading range that is slowly being compressed to the downside as global economic strains …

The cryptocurrency market was hit with another round of selling on May 26 as Bitcoin (BTC) price dropped to $28,000 and Ether (ETH) briefly fell under $1,800. The ETH/BTC pair also dropped below what traders deem to be an important ascending trendline, a move that traders say could result in Ether price correcting to new lows. Here’s a rundown of what several analysts in the market are saying about the move lower for Ethereum and what it could mean for its price in the near term. Price consolidation will eventually result in a sharp move A brief check-in on what …

The cryptocurrency market settled into a holding pattern on May 25 after traders opted to sit on the sidelines ahead of the midday Federal Open Market Committee (FOMC) meeting, where the Federal Reserve signaled that it intends to continue on its path of raising interest rates. According to data from Alternative.me, the Fear and Greed Index is seeing its longest run of extreme fear since the market crash in Mach 2020. Data from Cointelegraph Markets Pro and TradingView shows that the price action for Bitcoin (BTC) has continued to compress into an increasingly narrow trading range, but technical analysis indicators …

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 …

Bitcoin (BTC) has fallen by over 67% in 2022 and is now wobbling between a tight trading range defined by $28,000 as interim support and $30,500 as interim resistance. The selloff appears in the wake of the Federal Reserve's hawkish policy and the uncertainties in the crypto market led by Terra (LUNA), an algorithmic stablecoin project whose native token LUNA fell by 99% earlier in the month. Nonetheless, Bitcoin's decline has somewhat cooled down as May draws to a close, leaving speculators with the hope that the token is in the process of bottoming out. Something like this might play …

Digital asset investment products saw $141 million in outflows during the week ending on May 20, a move that reduced the total assets under management (AUM) by institutional funds down to $38 billion, the lowest level since July 2021. According to the latest edition of CoinShare’s weekly Digital Asset Fund Flows report, Bitcoin (BTC) was the primary focus of outflows after experiencing a decline of $154 million for the week. The removal of funds coincided with a choppy week of trading that saw the price of BTC oscillate between $28,600 and $31,430. Despite the sizable outflow, the month-to-date BTC flow …

The crypto market has been in decline over the past six months with its valuation dropping from over $3 trillion in November 2021 to $1.23 trillion in May 2022. Fears over persistently higher inflation, the Federal Reserve's hawkish response to it, and the ongoing conflict between Ukraine and Russia prompted investors to limit their exposure to riskier assets. Also, their increasing appetite for the safe-havens, such as the U.S. dollar, weighed down demand for some of the top cryptocurrencies and U.S. equities. As a result, some digital assets, such as Dogecoin (DOGE) and Cardano (ADA), fell by more than 80% …

Avalanche (AVAX) gained 0.5% to reach over $31 on May 23 but AVAX price remains trapped inside a trading range that appears like a "bear pennant" structure. Avalanche could get buried technicals Bear pennants are bearish continuation patterns, i.e., they resolve after the price breaks out of them to the downside and then—as a rule of technical analysis—falls by as much as the height of the previous downtrend, also called "flagpole." AVAX is nearing a technical breakdown as its price moves toward the pennant's apex, i.e., the point where its upper and lower trendlines converge. This paints the bearish target …