As November begins, analysts are busy dissecting the major market movements that occurred in October. While Bitcoin (BTC) stayed relatively unchanged with only 5.89% growth in October, Arcane Research senior analyst, Vetle Lunde mapped out the direction the market might take in the next few months. “Uptober,” a reference to Bitcoin's bullish historical performance in the month of October, was a common theme across many threads on crypto Twitter and according to Lunde it appears to have happened. Data shows BTC and exchange tokens outperformed the large caps index up until Oct. 26. Elon Musk’s Twitter takeover helped push the …

While Bitcoin (BTC) price support may be psychological for some traders, the statistics behind BTC remaining over $20,000 for a week are strong indicators of price support or in other words, a new bear market floor. Multiple Bitcoin data points might be able to establish a $20,000 support level. Last week Bitcoin reached a high of $20,961. However, it never sustained its upward momentum as the rally fizzled out, failing to break $21,000 support. As a result of the rally as well as the rejection, Glassnode, in the most recent report, analyzes if Bitcoin is hammering out a bear market …

On this week’s The Market Report show, Cointelegraph’s resident experts discuss why Bitcoin (BTC) whales are accumulating right now and why this could be significant. Could this lead to the next bull run? To kick things off, we break down the latest news in the markets this week: Least volatile ‘Uptober’ ever — 5 things to know in Bitcoin this week October 2022 has yet to prove itself as analysts predict “wild” Bitcoin price volatility for November. Bitcoin has started the last week of “Uptober” in a firmly average mood as the trading range to end all trading ranges continues …

Ethereum’s long-awaited Merge took place in September, shifting it from a legacy proof-of-work (POW) model to the sustainable proof-of-stake (PoS) consensus algorithm. Many observers expected Ether’s (ETH) price to respond positively as its daily emissions declined 90% with the halt of mining operations. However, the expected price surge never occurred. In fact, Ether has been down by over 7% since the upgrade. So why didn’t the Merge drive up the coin’s price? Post-merge ETH monetary policy Ethereum’s monetary policy was simply to reduce the token’s supply to 1,600 ETH per day. The PoW model, an equivalent of 13,000 ETH were …

On the other side, influencers, BTC maximalists and a range of other fanatical “shills” maintain its price could skyrocket to $80,000 and beyond. There is evidence to support both sides. One issue is that they may be looking at different time horizons. There’s a strong case to be made that BTC is likely to drop sharply in the months ahead but potentially rise in mid-to-late 2023. The case for a 2023 BTC price increase Bitcoin bull runs historically coincide with the four-year market cycle, which includes accumulation (buying), an uptrend, distribution (selling) and a downtrend. We would generally expect the …

The 10-year Treasury yield in the United States rose to its highest level since 2008. Although this type of rally is usually negative for risky assets, the U.S. stock markets recovered ground after the Wall Street Journal reported that some officials of the Federal Reserve were concerned about the pace of the rate hikes and the risks of over-tightening. While it is widely accepted that the U.S. will enter a recession, a debate rages on about how long it could last. On that, Tesla CEO Elon Musk recently said on Twitter that the recession could last “probably until spring of …

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 …

The lack of a decisive catalyst and the strength in the United States dollar index (DXY) has kept the recovery of risky assets under check. Bitcoin (BTC) remains stuck inside a tight range, searching for that elusive breakout. The longer the time Bitcoin spends inside the range, the greater will be the eventual breakout from it. The short-term uncertainty in cryptocurrencies does not seem to have altered the long-term view of institutional investors. BNY Mellon CEO Robin Vince said that a survey commissioned by the bank showed that 91% of institutional investors were keen to invest in some type of …

The price of Quant Network (QNT) eyes a sharp reversal after an impressive 450% rally in the past four months. QNT's downside outlook takes cues from a flurry of technical and on-chain indicators, all suggesting that investors who backed its price rally have likely reached the point of exhaustion. Here are three reasons why it could be happening. Quant's daily active addresses drop Interestingly, the period of QNT's massive uptrend coincided with similar upticks in its number of daily active addresses (DAA). This metric represents the number of unique addresses active on the network as a sender or receiver. As …

Bitcoin (BTC) has been trying to break above the $20,500 resistance for the past 35 days, with the latest failed attempt on Oct. 6. Meanwhile, bears have displayed strength on four different occasions after BTC tested levels below $18,500 during that period. Investors are still unsure whether $18,200 was really the bottom because the support level weakens each time it is tested. That is why it’s important for bulls to keep the momentum during this week’s $510 million options expiry. The Oct. 21 options expiry is especially relevant because Bitcoin bears can profit $80 million by suppressing BTC below $19,000. …

The United States equities markets have made a bullish start to the new week. The S&P 500 is up about 2.60% and the Nasdaq Composite has rallied more than 3%. This indicates that the markets have shrugged off September's high inflation reading and shifted focus onto the third-quarter earnings. The stock market’s recovery could pave the way for Bitcoin (BTC) to break out of the range it has been stuck in for the past several days. A positive sign for the bulls is that the amount of Bitcoin held in cold storage or lost has risen to a five-year high, …

The S&P 500 and the Nasdaq Composite fell to a new year-to-date low last week and closed the week with a loss of 1.55% and 3.11% respectively. The scenario changed drastically on Oct. 17 after earnings season ramps up and a sharp policy reversal from UK finance minister Jeremy Hunt added detail to the government's plan to fix his predecessor's (Kwasi Kwarteng) fiscal package which triggered a record fall in the value of the GBP and a near liquidation of pension plans in the United Kingdom. At the time of writing, the Dow is up 1.78%, while the S&P 500 …