Bitcoin (BTC) begins a key week of internal and macroeconomic events still trading above $20,000. After its highest weekly close since mid-September, BTC/USD remains tied to higher levels within a macro trading range. Bulls have been keen to shift the trend entirely, while warnings from more conservative market participants continue to call for macro lows to enter next. So far, a tug-of-war between the two parties is what has characterized BTC price action, and any internal or external triggers have only had a temporary effect. What could change that? The first week of November contains a key event which has …

Bitcoin (BTC) has been consolidating inside the $18,000-$20,000 price range since mid-June, pausing a strong bear market that began after the price peaked at $69,000 in November 2021. Many analysts have looked at Bitcoin's sideways trend as a sign of a potential market bottom, drawing comparisons from the cryptocurrency's previous bear markets that show similar price behaviors preceding sharp, bullish reversals. Here're three strikingly similar trends that preceded past market bottoms. 2018 BTC price sideways trend The 2018's Bitcoin bear market serves as a major cue for a potential market bottom in 2022 if one looks at its eerily similar …

Bitcoin price is up today, and a market-wide rally in crypto prices suggests that BTC and Ether (ETH) could be aiming to wrap up the month of October in the black. As of October 26, 2022, most major cryptocurrencies are posting single-digit gains. Bitcoin recorded a 5.15% price increase within the last 24 hours and a 5.48% gain within the last 7 days. While the current price is fluctuating, BTC is holding above the psychologically important $20,000 level. The following chart shows the BTC rally since October 24, 2022. Stocks are beginning the day down as Bitcoin continues to remain …

Bitcoin (BTC) and other riskier assets slipped on Friday as traders scrutinized macro indicators that suggest the Federal Reserve would continue to hike rates. Nonetheless, the BTC/USD pair remains rangebound inside the $18,000-$20,000 price range, showing a strong bias conflict in the market. BTC price holding above $18K since June Notably, BTC's price has been unable to diver deeper below $18,000 since it first tested the support level in June 2022. As a result, some analysts believe that the cryptocurrency is bottoming out, given it has already corrected by over 70% from its record high of $69,000, established almost a …

Bitcoin (BTC) dipped further below $19,000 on Oct. 21 as rumors circulated over the United States Federal Reserve. Fed still on track for major November rate hike Data from Cointelegraph Markets Pro and TradingView showed BTC/USD abruptly dropping before the Wall Street open, hitting lows of $18,660 on Bitstamp. A recovery took the pair higher, and it was attempting reclaim $19,000 as support at the time of writing. The action came as commentators claimed the Fed was softening its policy on rate hikes ahead of the Nov. 1-2 Federal Open Market Committee (FOMC) meeting. Citing mainstream media quotations from Fed …

Ethereum has witnessed a substantial drop in its daily active address (DAA) count over the last four months, raising fears about more downside for ETH (ETH) price in the coming weeks. Stagnant Ethereum price spooks investors The number of Ether DAA dropped to 152,000 on Oct. 21, its lowest level since June, according to data provided by Santiment. In other words, the plunge showed fewer unique Ethereum addresses interacting with the network. Interestingly, the drop comes after Ether's 80%-plus correction from its November 2021 high of around $4,850. This coincidence could mean two things: Ethereum users decided to leave the …

The current crypto bear market has induced panic, fear and uncertainty in investors. The dire situation started when the global crypto market capitalization dropped below the $2 trillion mark in January 2022. Since then, the price of Bitcoin (BTC) has decreased by over 70% from its all time-high of $69,044.77 it reached on November 10, 2021. Similarly, the values of other major cryptocurrencies such as Ethereum (ETH), Solana (SOL), Avalanche (AVAX), and Dogecoin (DOGE) have decreased by around 90%. So does history tell us anything about when the bear market will end? Let’s start by examining the causes of the …

While Bitcoin (BTC) investors may not consider the U.S. midterm elections as a significant event, an eerie fractal from 2018 may provide a clue to what could happen before the year ends. Bitcoin to hit $12K-$14K after midterms? Comparing Bitcoin's price actions that led to the midterm elections of 2018 with the ones in 2022 shows a strikingly similar bear market trend. For instance, BTC price trended lower in 2018 while holding a horizontal level near $6,000 as support, only to break below it after the midterm elections. In 2022, the cryptocurrency has halfway mirrored this trend. Its price now …

XRP XRP has made considerable gains over the past month as traders continue to shower confidence on Ripple's legal win against the U.S. Securities and Exchange Commission (SEC). For instance, XRP price has gained 25% thirty days after Ripple and the SEC filed for an immediate ruling on whether or not XRP sales violated U.S. securities laws. In comparison, Bitcoin BTC and Ether ETH are down 4% and 11% over the same period, respectively. Now, a flurry of indicators, ranging from on-chain to technical, hints XRP can continue its uptrend going into 2023. XRP price "bull pennant" Bull pennants are …

This week, Bitcoin’s (BTC) price took a tumble as a hotter-than-expected consumer price index (CPI) report showed high inflation remains a persistent challenge despite a wave of interest rate hikes from the United States Federal Reserve. Interestingly, the market’s negative reaction to a high CPI print seemed priced in by investors, and BTC’s and Ether’s (ETH) prices reclaimed all of their intraday losses to close the day in the black. A quick look at Bitcoin’s market structure shows that even with the post-CPI print drop, the price continues to trade in the same price range it has been in for …

Bitcoin (BTC) cooled near $19,200 after the Oct. 14 Wall Street open as stocks struggled to preserve their “bear trap.” Analyst: "Abandon all hope" for asset price rebound Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it came off one-week highs on the day to circle $19,300. The pair had seen intense volatility on the back of United States economic data the day prior, this sparking hundreds of millions of dollars in liquidations from both long and short positions. Now, after turning the tables and adding almost $2,000 in 24 hours, Bitcoin was again losing momentum as U.S. …

Michael Barr, the vice chair for supervision for the United States Federal Reserve, warned banks of the potential risks of crypto-related activities, suggesting crypto service providers be subject to similar regulations as traditional financial institutions. In written remarks prepared for an Oct. 12 speech at D.C. Fintech Week, Barr seemed to encourage banks to explore issuing tokens on distributed ledger networks, but “only in a controlled and limited manner.” The Fed vice chair for supervision suggested financial institutions engage with U.S. regulators to ensure “safe, sound, and legally permissible” activities around use cases of innovative technologies like crypto and stablecoins. …