Bitcoin (BTC) cooled volatility above $17,000 into the Dec. 5 Wall Street open as traders confirmed upside targets. Bitcoin traders warm to near-term upside Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it held overnight gains, having hit three-week highs. The weekly close itself was encouraging for some, forming Bitcoin’s highest since the FTX scandal broke. Now, traders were hoping that upside would continue toward $20,000, with various resistance zones in play. “Slowly, but surely, Bitcoin is grinding upwards. Needs to crack $17.4-17.6K, but then we most likely continue quite fastly towards $19K,” Michaël van de Poppe, founder …

Bitcoin (BTC) bulls attempted to retake $17,000 into the Dec. 4 weekly close as volatility looked set to return to the market. Bollinger Bands demand BTC pricevolatility Data from Cointelegraph Markets Pro and TradingView showed BTC/USD crisscrossing the $17,000 mark — a focal point throughout the weekend. With macro cues still to come, Bitcoin looked for catalysts as signs of volatility crept into low timeframes. Among those eyeing a potential break of the status quo was popular trader Cheds, who noted that the Bollinger Bands volatility indicator was flashing on the 4-hour chart. Bollinger Bands constricting signals that volatility is …

On Dec. 2, the United States dollar index (DXY), an index that measures the dollar's strength against a basket of top foreign currencies, reached 104.40 which was the lowest level seen in 5 months. To recap, the U.S. dollar's weight against the basket of top foreign currencies grew by 19.6% in 2022 until late September as investors looked for protection against the impact of a hawkish Federal Reserve and, more recently, the rising energy costs and effect of high inflation. The U.S. dollar's retreat may have been an interim correction to neutralize its "overbought" condition, as the 114.60 peak was …

Bitcoin (BTC) continued to hold key support on Dec. 2 as United States stocks fell on the Wall Street open. DXY weakness offers hope of "Santa rally" Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as bulls bought time between $16,800 and $17,000. Analysts had earmarked the former as a key level to retain, this nonetheless in question at the time of writing as stocks shed 1% to start the session. Popular crypto analytics account Nunya Bizniz queried whether it was time for a “decision” on S&P 500 performance, eyeing a pattern which suggested a local top may soon …

China witnessed a spike in Covid cases and that has resulted in strict lockdown restrictions in several parts of the country. This triggered widespread protests in China and has possibly pulled the global stock markets lower. In addition to the turmoil in China, the cryptocurrency markets, which are already in a bear grip, are reeling under pressure from the Chapter 11 bankruptcy filing by BlockFi and its subsidiaries. Bitcoin (BTC) is down 21% in November, on track to its worst November performance since 2018. The sharp fall in Bitcoin’s price has drastically reduced the number of wallets holding more than …

USD Coin (USDC), a stablecoin issued by the U.S.-based Circle Financials Ltd, is taking the lead over its top rival, Tether (USDT), when it comes to institutional adoption, according to on-chain data. USDC daily transfer volumes are higher The market capitalization of USDC tokens in circulation comes to be around $44 billion versus USDT's $65.42 billion. However, USDC's daily transfer value on the Ethereum blockchain has been consistently higher than USDT throughout 2022, data from Glassnode shows. For instance, as of Nov. 22, the USDC daily transfer was around $14 billion compared to USDT's $5 billion. In other words, USDC …

There's no escaping it: the DeFi markets have cooled down over the past year. After breaking $180 billion in total value locked last November — coinciding with Bitcoin racing to a new all-time high of $68,700 — data from DeFiLlama shows the collective value of this market has now dwindled to around $40 billion. Nonetheless, experts remain bullish on the potential of decentralized finance. Protocols are continuing to build furiously during the bear market — ensuring that they'll be in a strong position for the next wave of adoption. And although this recent contraction has scared away some retail investors, …

Continued selling in the cryptocurrency markets pulled the total market capitalization below $800 billion on Nov. 21. Traders are increasingly nervous about the extent of damage FTX’s collapse may have on several crypto firms. Until the uncertainty clears, it is futile to expect a sustained recovery in cryptocurrency prices. The FTX saga has broken the close correlation between the United States equities markets and Bitcoin (BTC). While Bitcoin is trading close to its 52-week low, the S&P 500 (SPX) has recovered sharply from its low made on Oct. 13. The U.S. dollar index (DXY) is usually inversely correlated to Bitcoin …

Bitcoin (BTC) surged $1,000 in five minutes before the Nov. 10 Wall Street open as United States inflation and jobs data boosted risk assets. CPI comes in lowest since start of 2022 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing to daily highs of $17,782 on Bitstamp. The pair was just hours from a more than two-year low below $15,700 at the time, taking its 24-hour low-to-high to 12.8%. At the time of writing, BTC/USD circled $17,400 with volatility still rampant as U.S. markets opened to digest economic data. This had come in the form of the Consumer …

Bitcoin BTC stayed lower at the Nov. 7 Wall Street open as the day before U.S. midterm elections opened to flat equities performance. Crypto wobbles on FTX woes Data from Cointelegraph Markets Pro and TradingView showed BTC/ USD nearing $20,600 at the time of writing — a three-day low. Volatility was expected around the midterms and the Consumer Price Index (CPI) print for October later in the week. An additional hurdle in the form of controversy over trading platform FTX added to the market’s cold feet, with commentators wary of unnecessary damage to growth. “This whole thing is incredibly bad …

Ethereum's native token Ether (ETH) recorded better gains than Bitcoin (BTC) over the past 24 hours despite the latter finally rising above the key $20,000 level. Ethereum beats Bitcoin in risk-on rally On the daily chart, Ether jumped approximately 14% to reach its weekly high of $1,554 (data from Binance) on Oct. 26. Bitcoin underwent a similar rally but its week-to-date profits are just 6% by comparison. The ETH/BTC pair gained around 8%, climbing as high as 0.075 BTC on Oct. 26. The boom across the top crypto assets was synchronous with the U.S. stock market's winning streak since Oct. …

Bitcoin (BTC) returned to local highs at the Oct. 25 Wall Street open as nervous analysts kept an eye on miners. DXY provides instant relief for BTC Data from Cointelegraph Markets Pro and TradingView showed BTC/USD rising to offer a modest challenge to resistance, still unable to escape an established trading range. United States equities likewise headed modestly higher, the S&P 500 and Nasdaq Composite Index up 1% and 1.3%, respectively at the time of writing. The U.S. dollar index (DXY) conversely lost ground on the day, falling to its lowest levels since Oct. 6 and providing potential tailwinds for …