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Exchanges have seen unprecedented outflows of Ether, while Bitcoin has broken over the $43,000 barrier.

ether sees record outflows from exchanges while bitcoin smashes through 43000

Bitcoin (BTC), which is currently trading above $43,000 at press time, has seen more than 15,000 BTC in withdrawals from exchanges this week as it rises above $42,000 and beyond. According to statistics from crypto experts IntoTheBlock, this is the highest outflow from exchanges since January 29th.

China has made crypto fundraising illegal, and violators could face jail time.

china outlaws crypto fundraising offenders could face jail sentences

Under new legal interpretation from China’s Supreme People’s Court, raising funds using cryptocurrency is deemed as an illegal activity in the country, according to South China Morning Post.
The post China outlaws crypto fundraising, offenders could face jail sentences appeared first on CryptoSlate. …

Last week, institutional investors spent $25 million on Avalanche (AVAX).

institutional investors purchased 25 million worth of avalanche avax last week

Despite increased political tensions surrounding the Russia-Ukraine crisis, crypto investment products recorded its fifth consecutive week of inflows, according to the latest report by institutional crypto fund manager CoinShares.
The post Institutional investors purchased $25 million worth of Avalanche (AVAX) last week appeared first on CryptoSlate. …

Short-term holders fuel volatility, and geopolitics panic markets, as BTC falls below $40,000.

With bitcoin trading mostly sideways during the weekend, without any major movement, the top cryptocurrency by market cap still fell under the important $40,000 mark.
The post BTC below 40k, short-term holders drive volatility while geopolitics spook markets appeared first on CryptoSlate. Source cryptoslate.com…

TA: Bitcoin Breaks $40K, Recovery Could Be Difficult!

Bitcoin extended decline below the $40,000 support against the US Dollar. BTC is correcting losses, but it might face resistance near the $39,500 zone. Bitcoin extended decline below the $40,000 and $39,500 support levels. The price is trading below $40,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $39,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct higher, but upsides might be limited above $40,000. Bitcoin Price Remains In Downtrend Bitcoin price failed to stay above the $42,000 support level and extended decline. BTC traded below the $41,200 support level to enter a bearish zone. The decline gained pace below the $40,000 level and the 100 hourly simple moving average. The pair even broke the $39,500 support and traded as low as $38,000. It is now correcting losses and trading above the $38,800 level. Bitcoin is now testing the 50% Fib retracement level of the recent decline from the $40,450 swing high to $38,000 low. On the upside, an initial resistance is near the $29,300. The next key resistance is near the $39,500 level. There is also a key bearish trend line forming with resistance near $39,500 on the hourly chart of the BTC/USD pair. The trend line is close to the 61.8% Fib retracement level of the recent decline from the $40,450 swing high to $38,000 low. The main resistance is now forming near the $40,000 level. Source: BTCUSD on TradingView.com A clear move above the $40,000 resistance zone might start a decent increase. The next major resistance is near $40,450 and the 100 hourly simple moving average, above which the price might rise towards the $41,200 level. More Losses in BTC? If bitcoin fails to start a recovery wave above…

Bitcoin Dominance Drops To 42% As Price Declines Below $43,000

Bitcoin has continued its descent towards $40,000 proving that the reversal was only temporary. While there is not enough to rule out another recovery, the current trend does point to more downside before the digital asset can find its footing and recover above $44K. This hard-fought resistance point that the cryptocurrency had managed to beat is becoming more and more elusive. The decline is also apparent in the market dominance of the digital asset. Bitcoin which maintains a majority share of the crypto market continues to see fierce competition from other digital assets. As investors have moved towards altcoins for the gains, so have the market share gone with them. Bitcoin Market Dominance Declines Bitcoin had started out the year 2022 on a low note. It had been a hard month for the digital asset by that point and the effects from the December crash were still being felt across the market. Not only had the price of the digital asset taken a hit, but its market dominance had also suffered too, which saw it drop below 40% for the first tie in over six months. Related Reading | Top 5 Watershed Moments In BTC On-Chain Analysis’ History. Is Your Favorite In? It had quickly recovered after that but not by much. It had bounced up to a high of 43.46% at the beginning of the week following the market recovery. This would prove to be short-lived as altcoins once again mounted fierce competition. Networks like Ethereum and Solana lead the charge with a wide range of DeFi and NFT offerings. Bitcoin’s dominance quickly dropped after that. Crashing from its peak of 43.46% to its current position at 42.51%. BTC dominance declines to 42% | Source: Market Cap BTC Dominance on TradingView.com BTC still retains the majority dominance of the market…

Bitcoin Hits a Roadblock; BTC Might Resume Its Downtrend

Bitcoin struggled to clear the $38,800 resistance zone against the US Dollar. BTC is moving lower and might decline below the $35,000 support level. Bitcoin started an upside correction but failed to clear the $38,800 resistance zone. The price is now trading below $37,500 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $37,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down if it stays below the $38,000 resistance zone. Bitcoin Price Starts Fresh Decrease Bitcoin price recovered above the $37,000 resistance zone. BTC even climbed above the $38,000 resistance zone and the 100 hourly simple moving average. However, the price failed to clear the $38,800 resistance zone. A high was formed near $38,719 and the price started a fresh decline. There was a move below the $38,000 support level. The bears pushed the price below the 50% Fib retracement level of the upward move from the $35,561 swing low to $38,719 high. Besides, there was a break below a key bullish trend line with support near $37,650 on the hourly chart of the BTC/USD pair. The pair traded below $37,200 and the 100 hourly simple moving average. It is now testing the $36,800 support zone. The stated level is near the 61.8% Fib retracement level of the upward move from the $35,561 swing low to $38,719 high. On the upside, an initial resistance is near the $37,400 level and the 100 hourly SMA. Source: BTCUSD on TradingView.com The first major resistance is near the $38,000 zone. The main resistance is still near the $38,800 zone. An upside break above the $38,800 resistance could start a steady upward move. The next key resistance is near the $40,000 level,…

Bitcoin price prediction : Bitcoin may reach $90,000 by the end of 2022

Bitcoin price prediction

The price of Bitcoin has been recovering after a major slump into the low $30,000s. As of press time, BTC trades at $37,774 with a 1.9% profit in the last 24-hours and could see more gains in the short term. Related Reading | Fidelity Says What We’ve Been Thinking: Countries & Central Banks Will Buy BTC Bitcoin’s most recent recovery could be tied to the relief in the traditional market. At the time of writing, the S&P 500 Index records a +105 points or 1.44% profit in the 4-hour chart. The cryptocurrency has displayed high levels of correlations with U.S. stocks and could continue to track them in the short term. In that sense, Bitcoin bulls could find backup on a sustained stock relief rally. Data from Material Indicators shows some resistance, in lower timeframes, above BTC’s price current levels. Therefore, $39,000, and $40,000 have become important resistance levels that need to turn into support. In case of further downside, Material Indicators records around $3 million in biding orders for Bitcoin near $36,000.  These levels could operate as critical support on a bearish scenario, for lower timeframes, and must hold in order to prevent a re-test of previous lows near $33,000. In the coming months, the bullish momentum could resume at full force, according to a report conducted by Finder. After consulting with a panel of 33 experts on the potential price scenarios for Bitcoin across multiple timeframes. The consensus amongst these experts is bullish, a prediction that defies current market sentiment. The potential increase in interest rates by the U.S. Federal Reserve could operate as a headwind for Bitcoin. At least, this seems to be the dominating narrative for some market operators. A Bitcoin Rally Before Another Multi-Year Bear Market? As seen below, the experts have progressively flipped their…

Following the market crash, 30,000 Bitcoin holders lost their millionaire status.

Thousands of new bitcoin millionaires were added this past year after the multiple rallies the digital asset saw. At its peak, it only required 14.5 bitcoins for a holder to be a BTC millionaire, much lower than it had ever been in the past. Due to this, the number of bitcoin millionaires rose quickly and tens of thousands of new millionaires were added to the tally. Now, however, with the recent price crash, a lot of bitcoin millionaires have lost their millionaire status. Given that the digital asset has lost almost 50% of its all-time high value, the number of millionaires has dwindled greatly in a short period of time. There Are 30,000 Less Bitcoin Millionaires When bitcoin hit its $69,000 all-time high, the number of bitcoin millionaires shot up quickly. For the first time, there were over 108,000 BTC millionaires given the low number of coins required to reach the millionaire status. All was well for a while and these 108,886 addresses kept their millionaire status. That is until the market crash that began in December 2021 and carried well into January of the new year. BTC trending at $37,000 | Source: BTCUSD on TradingView.com In the next two months, the price of BTC would suffer greatly and by extension, these bitcoin millionaires would be hit hard. This was exactly the case as about 30,000 BTC were no longer millionaires in the span of two months. At last count, the number of BTC addresses that held at least a million dollars worth of bitcoin had crumbled to 80,409. Related Reading | ‘Bitcoin Rush’: Small-Time Solo Miners Strike Gold With Full BTC Blocks Bitcoin whales with larger balances also suffered due to the crash. These whales who held more than $10 million at the time of the peak were cut down…

Bitcoin Price Prediction: A Recent High of $38,000 for BTC/USD

bitcoin price prediction btc usd signals fresh increase above 38000

Bitcoin Price Prediction – January 26 The Bitcoin price prediction reveals that BTC moves close to the resistance level of $39,000 level as it is now rising towards the north. BTC/USD Long-term Trend: Bearish (Daily Chart) Key levels: Resistance Levels: $44,000, $46,000, $48,000 Support Levels: $33,000, $31,000, $29,000 BTCUSD – Daily Chart   Buy Bitcoin Read moreBitcoin Price Prediction: A Recent High of $38,000 for BTC/USD

Bitcoin Whales Profit From Market Crash To Rack up Millions In BTC

The bitcoin crash rocked the market to its core when the digital asset had lost over 50% of its all-time high value to bottom out at $33,000. It was as a result of market sell-offs across the financial space, sparking a ripple effect that was felt heavily in the crypto market. Market sentiment had crumbled … Read moreBitcoin Whales Profit From Market Crash To Rack up Millions In BTC

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