Bitcoin: Potential Correction Looms Despite ETFs, Halving
Technical Analysis for Bitcoin in US-Dollar Bitcoin Weekly Chart – Only a weekly closing price below USD 57,000 would decisively alter the picture. Bitcoin In USD, Weekly Chart As Of March 23rd, 2024 Source: Tradingview Since the low at USD 15,479 on November 21st, 2022, Bitcoin prices have soared by a sensational +376.7% to a […]
Bitcoin: Extends Losses to More Than 20% After Spot ETF Approvals
Bitcoin falls below $40,000 Is the Bitcoin halving priced in? 50 Fib the next test is trading around 2% lower on Tuesday, adding to losses at the start of the week and taking the price below $40,000. The move takes the decline since peaking shortly after the SEC approved spot bitcoin ETFs to more than […]
Bitcoin Bulls Shrug Off Binance Turbulence: Is $40,000 in Sight Now?
This week, significant events in the crypto space garnered a surprisingly calm market response Initial panic subsided within 24 hours as the market digested a potential power shift in the cryptocurrency industry Bitcoin bulls are currently aiming for a rally toward $40,000 and the likelihood increases if it closes the week above $38,000 Secure your […]
Can Bitcoin, Ethereum Bank on Spot ETF Approval to Reverse Downtrend?
Bitcoin is under pressure and has slipped below support at $26,500 Meanwhile, Ethereum has been on a downward trajectory since reaching $2,100 in April A potential positive catalyst for both cryptos remains the approval of spot ETF applications As we enter the final quarter of 2023, remains under pressure due to various macroeconomic challenges and […]
Crypto Market Liquidity Dries Up as Fed Resumes Hiking Cycle
Surprise, surprise! The US Federal Reserve raised the by 25 basis points, resulting in a new target range of between 5.25% and 5.5%. Markets had already anticipated the move and as such, there was little volatility in both equities and the crypto market. The went on to note that “recent indicators suggest that economic activity […]
Bitcoin and Ethereum Rebound, Set Sights on Key Resistance
Last week, Bitcoin held onto support at $26,500 Meanwhile, Ethereum broke its downtrend, surging above $1,900 Both cryptos recently bounced off the support area, now eyeing critical resistance levels In May, lost over 10% of its value before stabilizing a little. During this time, trading volumes remained low as sellers’ strength started to weaken. The […]
Bitcoin: Every Pullback Is a Buying Opportunity at This Point
Over the last few weeks, banks have been imploding, and fears of a 2008-style crisis have come into play. Of course, politicians have rushed to the rescue with huge amounts of fiat money, while the bond markets have already priced in a pivot away from restrictive monetary policies. But as global markets slowly try to […]
Bitcoin Battles Critical Resistance, Ethereum at a Crossroads
Bitcoin has been continuously rejected at the $23,000 level Ethereum has become more volatile since the second half of January, reflecting a price squeeze Bitcoin could correct in the short term while Ethereum remains at a crossroads Bitcoin (BTC) Struggles to Break Above $23,000 Over the past week, attacks on the $23,000 level have been […]
China internet firms have seen ‘peak regulation’: KraneShares
The Chinese government is unlikely to introduce new regulations for the internet tech sector and there could be more support going forward, according to Jonathan Krane of KraneShares. “I think we’ve seen peak regulation,” he told CNBC’s “Squawk Box Asia” on Wednesday. He said the rules introduced in recent years were meant to create long-term […]
Fed hikes and a stronger dollar are fueling risks of political instability in Africa
ACCRA, GHANA – NOVEMBER 05: Ghanaians march during the ‘Ku Me Preko’ demonstration on November 5, 2022, in Accra, Ghana. People took to the streets of Ghana’s capital to protest against the soaring cost of living, aggravated since the Russian invasion of Ukraine Ernest Ankomah/Getty Images The U.S. Federal Reserve‘s monetary policy tightening and a […]