Bitcoin (BTC) has experienced slight upward movement leading up to July 12, coinciding with a major macroeconomic event scheduled for later in the day. Analysts have been closely monitoring BTC’s price momentum as it gradually approaches the $31,000 mark. Despite starting the week with relatively low volatility and clearly defined range highs and lows, market
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Cardano’s native token, ADA, experienced a significant setback in early June when it was categorized as a security by the United States Securities and Exchange Commission (SEC) in their lawsuits against Binance and Coinbase. This led to a sharp decline in ADA’s price, dropping by 42.5% from $0.37 to a two-year low of $0.21 within
Bitcoin has been trading within a narrow range of $29,900 to $31,160 for the past 18 days, leaving investors wondering about the absence of a clear trend. Despite experiencing a significant rally in June, which led to its highest price level in over a year, Bitcoin has struggled to maintain prices above $31,000. Additionally, both
The latest data from on-chain analytics firm Glassnode reveals that the amount of Bitcoin (BTC) held on exchanges has reached its lowest level since the 2017 all-time high. Currently, less than 12% of the BTC supply resides in exchange wallets. This trend has been evident since late April, marking a reversion to the long-term trend
Bitcoin (BTC) has faced its fair share of ups and downs, but according to Standard Chartered, the future looks bright for the world’s largest cryptocurrency. In a recent report, the banking giant predicts that Bitcoin will reach $50,000 this year and could even surpass its all-time highs by 2024. This bullish outlook comes as the
The recent nonfarm payrolls report showed a cooling labor market, causing concern among market observers. However, the report did not alter expectations of a rate hike by the United States Federal Reserve. This, along with a report stating that a spot Bitcoin exchange-traded fund (ETF) may not be a game changer for the crypto space,
Bitcoin (BTC) is set to become “society’s base money,” according to investor Luke Broyles. In a recent Twitter thread, Broyles outlined his bold vision for Bitcoin, highlighting its unique attribute of having a fixed and immutable supply. While other innovations, including artificial intelligence (AI), may force prices down and encourage currency printing, Bitcoin will remain
Bitcoin’s price experienced a slight decline this week, erasing some of the recent gains. However, several key data points suggest that the $30,000 level should hold as support moving forward. Despite trading within a narrow range of 4.3% between $29,895 and $31,165 for 15 days leading up to July 7, investor sentiment was negatively impacted
Bitcoin (BTC) has recently surged to new highs in 2023, defying previous expectations of a further drop in price. Analysts had anticipated a potential decline to $28,000, presenting a “buy the dip” opportunity. However, Bitcoin has instead experienced a fresh bounce off key support, propelling its price action above its recent trading range. Michaël van
There has been a prevalent belief that the value of Bitcoin is directly impacted by the performance of the U.S. dollar in relation to other major global currencies, as measured by the Dollar Strength Index (DXY). According to this belief, when the DXY index declines, Bitcoin experiences a positive effect, and vice versa. For instance,