While Bitcoin (BTC) has experienced a stroprice pump to kick off the new year, many industry pundits are not convinced the cryptocurrency will continue its upward trajectory — at least in the short to mid-term. The impressive price surge — which saw BTC experience 14 days of consecutive price increases earlier this month — has called on many to consider whether the surge marks a significant “breakthrough” or is indicative of a “bull trap." Speaking to Cointelegraph on Jan. 23, James Edwards, a cryptocurrency analyst at Australian-based fintech firm Finder said the argument for a “bull trap” is stronger, warning …

This week Bitcoin (BTC) rallied to a 2023 high at $23,100 and the move followed a notable recovery in traditional markets, especially the tech-heavy Nasdaq Composite Index, which gained 2.9% on Jan. 20. Economic data continues to boost investors' hope that the United States Federal Reserve will reduce the pace and length of interest rate hikes. For instance, sales of previously owned homes fell 1.5% in December, the 11th consecutive decline after high mortgage rates in the United States severely impacted demand. On Jan. 20, Google announced that 12,000 workers were laid off, more than 6% of its global workforce. …

The total crypto market capitalization soared by 29.4% in two weeks, although Bitcoin's (BTC) price stabilized near $21,000 on Jan. 19. As a result, it became increasingly difficult to justify that the 5-month-long bearish trend still prevails after the $930 billion total crypto channel top has been breached. Still, the psychological $1 trillion resistance remains strong. The move possibly reflects investors becoming more optimistic about risk assets after weaker than expected inflation metrics signaled that United States Federal Reserve interest rate hikes strategy should ease throughout 2023. However, Klaas Knot, who serves as the governor of the Dutch central bank, …

Avalanche (AVAX) came into the spotlight early at the beginning of 2023 by adding its blockchain support to Amazon Web Services (AWS) cloud. However, empirical and on-chain analysis suggests that Avalanche’s price surge is likely due to a broader cryptocurrency market pump which will likely end with the rest of the market. Is Avalanche’s Amazon news exaggerated? While integration with the world’s largest blockchain service is a positive step for Avalanche, the hype around its implications might be exaggerated. The evidence lies in a similar move that Avalanche’s team made in December 2022. Avalanche’s team established a deal with Alibaba’s …

On this week’s episode of Market Talks, Cointelegraph welcomes Grant Shears, founder of Blocmates — an educational and consultancy company that aims to create crypto, DeFi and Web3 content that anyone can understand. This week, to kick things off, we take a look at the emerging trends of 2023 and what people should look forward to. What industries could really take off this year, and which sector could have the most potential to grow? It’s no secret that 2022 was not a great year for DeFi, an industry that arguably imploded on itself by offering unsustainable high yields that eventually …

Bitcoin (BTC) price has held above $20,700 for 4 days, fueling bulls' hope for another leg up to $23,000 or even $25,000. Behind the optimistic move was a decline in inflationary pressure, confirmed by the December 2022 wholesale prices for goods on Jan. 18. The United States producer price index, which measures final demand prices across hundreds of categories also declined 0.5% versus the previous month. Eurozone inflation also came in at 9.2% year-on-year in December 2022, marking the second consecutive decline from October's 10.7% record high. A milder-than-expected winter reduced the risk of a gas shortages and softened energy …

Ethereum (ETH) price is struggling to overcome resistance at $1,600 and this is the altcoin’s third attempt since September 2022. Some would say the 33% year-to-date rally could be interpreted as a failed opportunity to breach the $200 billion market capitalization mark. If Ethereum price were to break above $1,600, it would return Ether to a top-60 global tradable asset, surpassing giant multinational companies like Nike (NKE), Novartis (NVS), Cisco (CSCO) and Toyota (TM). Unfortunately, at least for bullish traders, derivatives markets are not hinting that Ether will finally break the $1,600 resistance — at least, not until the U.S. …

Shiba Inu is hoping to become more than just a Dogecoin-inspired meme cryptocurrency as it comes closer to launching its layer-2 network. Meanwhile, its native token SHIB has emerged as one of the best-performing cryptocurrencies so far in 2023. SHIB price jumps 60% in 2023 SHIB's price has rallied nearly 60% year-to-date (YTD) to $0.00001294, its highest since early November 2022. The gains started appearing mainly due to favorable macro conditions that prompted similar rallies elsewhere in the crypto market. Nonetheless, the Shiba Inu price rally picked up momentum as investors assessed its announcement of the upcoming beta release of …

The beginning of 2023 has provided Bitcoin (BTC) with bullish indicators and the rally to a year-to-date high at $21,647 has crypto traders hopeful that the worst part of the bear market has ended. The surge effect of BTC’s bullish price action is also carrying over to Ether (ETH) and Bitcoin mining stocks. The reduction in Bitcoin Fear and Greed index to neutral is possibly driven by volume increases, Bitcoin on-chain data and BTC price decoupling from equities markets. While not all analysts believe a market bottom is in, let’s dive into the data. Trading volume and volatility return Bitcoin’s …

After 66 agonizing days, Bitcoin (BTC) price finally broke above the $20,000 psychological resistance on Jan. 14. At the same time, the current $400 billion market capitalization gives BTC a position in the top-20 global tradable assets, surpassing giants like Walmart (WMT), Mastercard (MA) and Meta Platforms (META). From one side, Bitcoin bulls have reasons to celebrate after its price recovered 34% from the $15,500 low on Nov. 21, but bears still have the upper hand on a larger time frame since BTC is down 52% in 12 months. However, two events are expected to determine traditional finance investors' fate. …

This week on The Market Report, the resident experts at Cointelegraph discuss whether the recent and long-awaited Bitcoin (BTC) price rally is a bull run and the beginning of the next bull market or whether it is just a bull trap and investors should be cautious. We start off this week’s show with the latest news in the markets: Bitcoin price breakout or bull trap? 5K Twitter users weigh in Bitcoin is trading at its highest levels in over two months, but the phrase on every trader’s lips is “bull trap.” After delivering 25% returns in a single week, BTC/USD …

Bitcoin (BTC) shows the potential of stretching its ongoing price recovery to $25,000 by March, based on a mix of bullish technical and macro indicators. Bitcoin price exits descending channel range First, Bitcoin's potential to hit $25,000 comes from its exit from a prevailing descending channel range. A bull run or bull trap? — Cointelegraph (@Cointelegraph) January 16, 2023 Notably, the BTC price broke out of the range late last week while accompanying a rise in its trading volumes. The cryptocurrency's move upside also pushed the price above its resistance confluence, comprising a psychological price ceiling of $20,000 and its …