Market Analysis

May was a testing time for cryptocurrencies like Bitcoin (BTC). The flagship digital asset was already wobbling after rallying to nearly $65,000 in mid April, owing to profit-taking sentiment among traders. Elon Musk accelerated the sell-off by reversing his company’s plans to accept Bitcoin as payment for Tesla’s electric cars. Later in the month, the

Bitcoin (BTC) hodlers who want to earn BTC tax-free will get help to stay in El Salvador, the country’s president has said. In a tweet on June 7, Nayib Bukele said that his government would “help” settle foreign workers. El Salvador: “We’ll help with that” The announcement is one of many which continue to come

A lackluster balance sheet, excessive debt load and over-leveraged exposure to Bitcoin have crashed MicroStrategy stock by more than 63% since February already. Nevertheless, the business intelligence company has ignored the risks of its frothy valuations, and it now wants to raise more debt and buy Bitcoin with proceeds (BTC). MicroStrategy announced on June 7 that

When the sentiment in the market turns bearish, every bit of negative news, however insignificant, pulls the price down as traders panic sell. This is what happened after China’s social media giant, Weibo, suspended a number of crypto-related accounts and triggered fears that a wider crackdown could occur. In other news, a note from Goldman

Bitcoin (BTC) bounced off a predicted floor on June 4 as the dust settled on the latest market collision with Elon Musk. Bitcoiners poke fun at Musk’s “break-up” Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as the pair recovered to levels nearer $37,000 on Friday. Previous strength this week, which had seen a

Bitcoin (BTC) losing over 50% in a month may have a big silver lining as lower prices set up a classic bull flag. On June 3, Philip Swift, creator of the Pi Cycle Top indicator, said that this year could still see a major Bitcoin price high. BTC price drop’s saving grace? Pi Cycle Top

Overconfident Bitcoin (BTC) bulls would need to battle more than just Elon Musk as a price prediction model — created by technical analyst pioneer Richard Wyckoff more than 100 years ago — also goes against their wild upside predictions. Dubbed as Wyckoff Method, the model involves a five-phase approach to determine price trends that majorly

Bitcoin (BTC) prices fell by almost 5% on June 4, continuing the decline into the Friday session as investors grappled with Elon Musk’s cryptic tweets on the cryptocurrency, raising speculation that the Tesla CEO might dump the firm’s remaining 43,2000 BTC stash. #Bitcoin pic.twitter.com/lNnEfMdtJf — Elon Musk (@elonmusk) June 4, 2021 Nonetheless, Bitcoin’s move downside

Polkadot (DOT) and Kusama (KSM) rose in tandem on June 3 as traders assessed a venture capital firm’s major investment into their blockchain ecosystems. Dubbed as Master Ventures, an Asian blockchain incubator and venture capitalist announced that it had launched a $30 million venture capital fund called Master Ventures Polkadot VC Fund. In a press release

Ether (ETH) has outperformed Bitcoin (BTC) by 32% since May and even though there has been a steady flow of bullish reports from JPMorgan and Goldman Sachs, derivatives metrics show elements of bearishness in both assets.  Bitcoin is trading 41% below its $64,900 all-time high and that move has driven the “Crypto Fear and Greed

Bitcoin (BTC) hit $38,000 on June 2 as a long-awaited bout of volatility saw a critical bull level return. Trader has “strong belief” in upside incoming Data from Cointelegraph Markets Pro and TradingView showed BTC/USD finally beating resistance at $37,500 during Wednesday, going on to hit local highs of $38,090. Questions were even being asked as

Dogecoin (DOGE) prices jumped by nearly 40% on a 24-hour adjusted timeframe on June 2, shaking out more than $16 million worth of bearish leverage in just one hour while almost reclaiming its pre-crash high.  Leveraged bearish traders caught themselves on the wrong side of trade after Coinbase Pro, a U.S.-based crypto trading platform, announced

As of June 1, Ether (ETH) has dipped by more than 40% after establishing a record high of $4,384 in May. The major move downhill in the world’s second-largest cryptocurrency by market cap has prompted many analysts to predict additional declines. For instance, Clem Chambers, chief executive of financial analytics portal ADFVN.com, sees the recent

Bitcoin (BTC) may have just had its worst monthly candle in ten years, but it could yet surge to new all-time highs this year, says popular analyst PlanB. In a tweet on June 1, the creator of the stock-to-flow-based BTC price models said that Bitcoin is behaving like during its 2013 bull run. Stock-to-flow “intact”

Bitcoin started the week off with an abrupt bullish breakout to $37,500, a level some analysts have identified as a crucial ‘line in the sand’, but the rally was short-lived as BTC met selling near the lower arm of the bearish pennant that can be seen on multiple timeframes.  While many traders are concerned that the

Traders are using various strategies to determine whether Bitcoin price has bottomed, but on-chain activity and derivatives data hint that the situation remains precarious. Has Bitcoin price bottomed yet? According to @noshitcoins, derivatives and on-chain data signal that further downside could be in store. Traders have been trying to time the much-anticipated trend reversal ever