Global financial markets plunged into disarray on May 5 as the Dow Jones saw a 1,063 point drop and Bitcoin (BTC) price plummeted to $35,571 on Binance. The widespread weakness comes as traders have had more time to digest the recent half-point interest rate hike by the Federal Reserve, the largest hike since 2000, which was done in an attempt to corral record high inflation. Data from Cointelegraph Markets Pro and TradingView shows that the midday dump in the price of BTC coincided with a sell-off in the tech sector, which escalated into the close of the traditional markets. Here’s …

The start of May has seen a continuation of the weakness in crypto and equities markets and at the moment, there is no indication of any short-term factors that could reverse the bearish trend. Equities markets are also in a downtrend and according to researcher Clara Medalie, the price of stocks from companies with exposure to Bitcoin (BTC) have also taken a notable hit. Medalie said: “Block, Tesla, Microstrategy and Coinbase are down between 20%–50%.” Data from Cointelegraph Markets Pro and TradingView shows that an early morning attempt by Bitcoin (BTC) bulls to rally above $39,000 was easily defended by …

Reassuring its position as the most resilient blockchain network against attacks, the Bitcoin network recorded a new all-time high network difficulty for the second time this month in April — jumping from its previous all-time high of 28.587 trillion to 29.794 trillion. Greater network difficulty demands greater computational power to successfully mine a Bitcoin (BTC) block, which prevents bad actors from taking over the network and manipulating transactions, also known as double-spending. As evidenced by data from Blockchain.com, Bitcoin’s network difficulty has seen almost a year-long uptrend since August 1, 2021. Before that, between May and July 2021, was a …

One of the most popular topics of debate within the crypto community revolves around the Bitcoin (BTC) four-year halving cycle and the effect it has on the long-term price of the top cryptocurrency. Bitcoin price failed to hit the long-predicted $100,000 level in 2021 and many crypto analysts now find themselves wondering about the outlook for the next six to 12 months. Currently, BTC price trades below $40,000 and various technical analysis metrics suggest that further downside is more likely that a recovery to the $40,000 to $45,000 range. Let's take a look at what analysts' views are on Bitcoin's …

Bitcoin (BTC) prices could drop by 20% in the next few months, but that has not deterred its richest investors from stacking. The amount of Bitcoin held by "unique entities" with a balance of at least 1,000 BTC, or so-called "whales," has increased to its best levels since September 2021, data on Glassnode shows. Interestingly, the number in the past week grew despite Bitcoin's price decline from $43,000 to around $38,000. Marcus Sotiriou, an analyst at GlobalBlock, a U.K.-based digital asset broker, considered the latest spike in Bitcoin whale holdings as a bullish indicator, recalling a similar move in September …

The cryptocurrency market has experienced another rollercoaster week that saw Ether (ETH) price drop below $3,000 and Bitcoin (BTC) price hit a new multi-month low at $37,700. Equities markets also endured a sharp sell-off primarily due to investor fear over potential changes to the size of the Federal Reserve's next rate hike. To date, Bitcoin price fell 41.72% down from its $69,000 all-time high and while the price might be in what some describe to be a bear market, a deeper dive into various on-chain and derivatives data shows that a drop in inflows and thepivot from institutional investors are …

The hash rate of the Bitcoin (BTC) network hit a new ATH, even when the price of the top cryptocurrency struggled to get past the $40,000 mark. The network's hash rate hit a new record high of 258 EH/s on Thursday before settling around the 220 EH/s mark. The recent rise in the BTC network hash rate signifies the growing number of miners on the blockchain. The Bitcoin network hash rate has grown more than 400% since the Chinese crypto mining ban last year when it fell below 70 EH/s. The Bitcoin network managed to recover from the significant hash …

The cryptocurrency market and wider global financial markets fell under pressure on April 26 after the hype surrounding Elon Musk's purchase of Twitter began to fade and concerns about the state of the global economy took the forefront again. Tech-related stocks were some of the hardest-hit assets on April 26 and this pullback was followed by sharp declines in crypto prices as risk assets become persona non grata in these turbulent markets. Data from Cointelegraph Markets Pro and TradingView shows that after holding support at $40,500 through the early trading hours on April 26, the price of Bitcoin (BTC) dumped …

The cryptocurrency market fell under pressure in the early trading hours on April 25, but a brief spurt of bullish price action sparked after media headlines announced that Elon Musk had reached a deal to purchase Twitter for $44 billion. Data from Cointelegraph Markets Pro and TradingView shows that after dropping as low as $38,210 in the opening trading hours on April 25, Bitcoin (BTC) price staged a 5.72% rally to hit an intraday high at $40,366 as news of Twitter’s sale spread across news outlets. Here’s a look at what analysts and on-chain data have to say about Bitcoin’s …

Bitcoin (BTC) price flashed bullish for a brief moment, possibly tricking some traders into opening longs before plunging back below $40,000 in evening trading hours. Let’s take a quick look at what traders think about the current price action and whether or not today’s brief break out was nothing more than test of overhead resistance. Resistance remains at key moving averages Analysis of Bitcoin’s weekly price action was discussed by crypto trader and pseudonymous Twitter user Rekt Capital, who posted the following weekly chart noting that “Bitcoin is now hovering below the green 21-week & blue 50-week Bull Market EMAs.” …

Traders’ struggle to build sustainable bullish momentum persisted across the cryptocurrency market on April 20 after prices slid lower during the afternoon trading session, and ApeCoin (APE) appears to be one of the few tokens that are defying the current marketwide downturn. Data from Cointelegraph Markets Pro and TradingView shows that an early morning attempt by Bitcoin (BTC) bulls to breakout above $42,000 was soundly rejected by bears, resulting in a pullback to a daily low of $40,825 before the price was bid back above $41,000. Here’s a look at what several market analysts are saying about the weakness in …

Traders faced another day of red markets on April 14 after the weakness in equities markets continued to put a damper on crypto prices. Data from Cointelegraph Markets Pro and TradingView shows that after holding onto support above $41,000 in the early hours of April 14, the price of Bitcoin (BTC) was slammed back below $40,000 in the afternoon session and hit a daily low of $39,550. Here’s a look at what analysts are saying about the short-term outlook for Bitcoin. Bitcoin needs to find support above $42,000 Bitcoin's price action on the monthly chart was discussed by markets analyst …