Cryptocurrency News Official TheBitTimes.com

Bitcoin is back near its year-to-date highs, but BTC price moves belie an underlying lack of support, analysis fears. Bitcoin (BTC) starts the last week of October in classic style as 3% BTC price gains take cryptocurrency markets higher. In what could yet turn out to be a classic “Uptober” for Bitcoin and altcoins, BTC/USD is back near 2023 highs as a resistance battle brews. Can bulls win? That is the key question for traders and market observers going into the week’s first Wall Street open as Asia sets the tone for a crypto comeback. Given the extent of resistance to overcome, however, traders are playing it safe — lofty BTC price predictions are less evident than might be expected, and few believe that the road beyond $32,000 will open up quickly or easily. Bitcoin must also dodge potential headwinds in the form of macroeconomic data prints at a time when inflation continues to beat expectations. Ahead of the United States Federal Reserve’s interest rate decision on Nov. 1, the ...

The S&P 500 dropped to a 110-day low as the market digests what “higher for longer” means for stocks. Will Bitcoin begin to chart its own path? On Sept. 20, the Federal Reserve delivered a message that reverberated through financial markets: interest rates are expected to remain at their highest level in over two decades, and possibly for longer than most market participants’ expectations. This attitude comes against the backdrop of stubbornly high inflation, with the core inflation rate hovering at 4.2%, well above the central bank's 2% target, and unemployment at record lows.  As investors grapple with this new reality, a pressing question arises: Will the S&P 500 and Bitcoin (BTC) continue to underperform in the face of a tighter monetary policy? The impact of the Fed's decision was swift and severe. The S&P 500 plunged to its lowest level in 110 days, signaling growing unease among investors. S&P 500 index (blue, right) vs. U.S. 10-year Treasury yield (oran...

Bitcoin is showing the strength it needs for continuation higher, says Michaël van de Poppe, after key trend lines are preserved. Bitcoin (BTC) saw five-day highs on May 15 as a rebound continued after the Wall Street open. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $40,000 "still a magnet" for BTC price Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $27,666 on Bitstamp. The pair held strength on hourly timeframes after a weekly close just below the $27,000 mark. With United States equities in a tight range on the day, crypto analysts looked for cues over where markets might go next. For Michaël van de Poppe, founder and CEO of trading firm Eight, the outlook was good. “Bitcoin breaks upwards and tests $27,600. Good signs ,” he summarized. “Weekly timeframe; Holding 200 MA and EMA. I think we're continuing towards $38,000-42,000 from here.” Van de Poppe referenced the 200-week moving average and exponential moving average, t...

Bitcoin and select altcoins continue to face selling at higher levels, a sign that the bears have not yet given up. The cryptocurrency market witnessed sharp volatility on April 26 on rumors that large sums of Bitcoin (BTC) were on the move from the wallets linked to the defunct cryptocurrency exchange Mt. Gox and the United States government. A minor positive is that Bitcoin and select altcoins held their respective support levels. After Bitcoin’s sharp rally in 2023, some traders seem to be planning to book profits. Coinglass reported that the Bitcoin balance held at Binance soared by 50,000 Bitcoin in the past 30 days. While this could add to short-term pressure, bulls can take solace because the increase is not identical across exchanges. Coinglass said that the aggregate increase of Bitcoin balance across exchanges was 14,000 Bitcoin. Daily cryptocurrency market performance. Source: Coin360 The next major event for the market is likely to be the U.S. Federal Reserve’s meeting on...

Crypto sentiment is "hysterical" with Bitcoin under $22,000, but no major trend lines have been lost yet, one analyst argues. Bitcoin (BTC) edged closer to $22,000 over the weekend as traders and analysts urged caution on overly bearish sentiment.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst dismisses "hysterical" crypto sentiment Data from Cointelegraph Markets Pro and TradingView showed BTC/USD seeing small spurts higher into Feb. 12. After hitting three-week lows the week prior, Bitcoin was a target for opportunistic whales, on-chain analytics resource Material Indicators explained. Uploading a chart from the BTC/USD order book on Binance, Material Indicators captured resistance shifting higher, with the potential uptick in spot price offering a more advantageous selling level for large-volume players. “FireCharts shows Crypto Weekend whales seem interested in trying to exploit the upside illiquidity in the Bitcoin order book to sell high...