Tag Archives: bitcoin technical analysis

Analyst Predicts Bitcoin Could Plunge Back To $51,000 On Wedge Pattern Breakdown

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Bitcoin may be experiencing a price recovery towards the $57,000 level after a sharp 20% drop on Monday that sent the largest cryptocurrency on the market to a low of $49,000 not seen since February. Still, BTC is not out of the woods yet, as a concerning pattern has emerged on its 10-day chart.  Analysts… Continue reading Analyst Predicts Bitcoin Could Plunge Back To $51,000 On Wedge Pattern Breakdown→

Bitwise CIO Believes The Crypto Crash Sets The Stage For Bitcoin To Thrive – Key Reasons Why

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In the aftermath of a tumultuous week that saw Bitcoin (BTC) plummet to a seven-month low of $49,000 on Monday, global financial markets were rattled by a significant downturn, sparking concerns across stock exchanges and the crypto sphere.  However, amid the chaos, Bitwise’s Chief Investment Officer Matt Hougan analyzed the drivers behind the recent market… Continue reading Bitwise CIO Believes The Crypto Crash Sets The Stage For Bitcoin To Thrive – Key Reasons Why→

Bitcoin Price Analysis: What Lies On The Horizon After Crashing Below $50,000

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The cryptocurrency market has been rocked by a massive sell-off, with the Bitcoin price plunging 26% from its July highs above $70,000. This dramatic decline comes amid a broader crash in global financial markets, reflecting growing economic uncertainty and investor risk aversion. Crypto Winter Returns?  The crypto sphere was not spared from this turbulence, as… Continue reading Bitcoin Price Analysis: What Lies On The Horizon After Crashing Below $50,000→

Bitcoin Holds Ground At $65,700 Amid Unchanged Fed Rates, Anticipating September Moves

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In the wake of the highly anticipated address by Federal Reserve Chair Jerome Powell, Bitcoin (BTC) maintained a steady course on Wednesday as the Fed opted to keep interest rates unchanged at 5.25%-5.50%.  Crypto Market Awaits Fed’s Next Move Powell, speaking at a press conference in Washington DC, hinted at the possibility of rate reductions… Continue reading Bitcoin Holds Ground At $65,700 Amid Unchanged Fed Rates, Anticipating September Moves→

Mt.Gox Creditors Reclaim 59,000 Bitcoin Via Exchanges, More Redistribution Imminent

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After over a decade of suspense, creditors of the defunct Mt. Gox Bitcoin (BTC) exchange have finally begun receiving long-awaited payouts this month. Data from research firm Glassnode shows that as of Tuesday, 59,000 of Mt. Gox’s 142,000 BTC had already been distributed to creditors via the Kraken and Bitstamp exchanges, with another 79,600 BTC to… Continue reading Mt.Gox Creditors Reclaim 59,000 Bitcoin Via Exchanges, More Redistribution Imminent→

Bitcoin Analyst Predicts Super Cycle With A Target Of $220,000, But This Must Happen First

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Following the highly anticipated 2024 Bitcoin Conference in Nashville, Tennessee, over the weekend, a notable spike in positive market sentiment drove the Bitcoin price to a one-month high of $70,000 on Monday.  Analysts are now eyeing the potential for an extended super-cycle, with market expert Doctor Profit suggesting that the recent rally could begin a… Continue reading Bitcoin Analyst Predicts Super Cycle With A Target Of $220,000, But This Must Happen First→

Mt. Gox Creditors Opt To HODL Bitcoin Rather Than Sell, CryptoQuant Data Shows

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Amid the recent recovery from a significant price correction of over 25% that sent the Bitcoin price to a 6-month low of $53,500, the largest cryptocurrency on the market has since recovered to trade in the $66,000 to $68,000 range despite the start of Mt. Gox creditor repayments.  Investors, buoyed by prospects of continued price… Continue reading Mt. Gox Creditors Opt To HODL Bitcoin Rather Than Sell, CryptoQuant Data Shows→

Bitcoin Accumulation: Who’s Been Buying Up All The BTC Dumped By The German Government?

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Bitcoin went on a downward spiral in the first week of July to strike a bottom below $54,000 amidst an exacerbated selloff by some large holders. Various reports using on-chain data have blamed the selloffs on the German state of Saxony selling the bitcoins it seized earlier in the year. Despite this considerable selloff, Bitcoin… Continue reading Bitcoin Accumulation: Who’s Been Buying Up All The BTC Dumped By The German Government?→

Total Depletion Of German Bitcoin Reserves: Wallet Left With Zero BTC

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In what is being hailed as a significant victory for the Bitcoin market, the German government has officially depleted its Bitcoin reserves after holding 50,000 BTC in its wallet just months ago. Bitcoin Wallet Now Empty After Massive Selling Spree Data from market intelligence firm Arkham shows that the German government recently transferred the remainder… Continue reading Total Depletion Of German Bitcoin Reserves: Wallet Left With Zero BTC→

Bitcoin Price Trajectory Remains Bearish, $49,000 Liquidity Zone Looms As Next Downside Target

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The Bitcoin price has recently shown signs of recovery, climbing back to the $58,000 level after hitting a five-month low of $53,500. However, technical analysis suggests that the digital asset may struggle to surpass crucial indicators, potentially revisiting lower price levels.  In a recent post on social media platform X (formerly Twitter), market expert Jackis… Continue reading Bitcoin Price Trajectory Remains Bearish, $49,000 Liquidity Zone Looms As Next Downside Target→