The boxing world saw Tyson Fury regain his world heavyweight title from Deontay Wilder last night, in a convincing win for the Brit. But how did bitcoin and other cryptos perform this week?
Bitcoin Price: Down, Up, Down, Up
This week started badly for bitcoin prices. Having just fallen back below $10k it continued to drop, not finding solid support until it got down to $9500.
Crypto Twitter started to foretell a deeper correction to as low as $8200, but thankfully it was way off the mark this time.
A golden cross formed on the daily chart for the 50-day and 200-day moving averages (MA), and the price seemed to respond, popping its head back up into five figures and hitting $10,100. Analysts were in disagreement as to which way BTC price would go next, up or down?
We didn’t have to wait long to find out, as Bitcoin dumped hard, dropping $1000 in just a few hours, before finding support at $9500.
A day or two later and BTC had stabilized, giving the bulls something to play for, although gains didn’t really materialize until this morning when bitcoin price crept back up to $9900.
Flash Loans And DeFi Making Headlines
Decentralized Finance (DeFi) dominated the news this week, firstly with renewed optimism for an ETH 2.0 launch following an Ethereum conference in Denver. Ether reacted well to the news, with price pushing up to a new yearly high.
Then flash loans hit the headlines for all the wrong reasons. Someone exploited a loophole in bZx’s flash loan platform to net a profit of $350k. And then somebody did it again, apparently in a completely different way. So what exactly is a flash loan and what does it mean for DeFi and Ethereum?
All this press coverage caused the MakerDAO community to go on the defensive as the whole DeFi ecosystem was on red alert.
ETH price, meanwhile, continued to rise, topping out at $280, before being pulled down by the overall market flash crash. Even Bitcoinist thought that it would be wise not to ignore Ethereum.
News In Brief
Fancy opening your own cryptocurrency exchange, but don’t have the time/money/skills to do it from scratch? Well, maybe Binance can help, as they announced a crypto cloud service for people in just such a situation.
You would have to go some in order to beat Binance at its own game though, as its futures weekly volume hit a record $16 billion this week.
Now that Visa has dumped Libra to become a Bitcoin maximalist, with its Head of Crypto suggesting that Satoshis may be the future currency of the internet.
Vodafone also seems to be championing Bitcoin now it has extricated itself from Libra and Facebook’s dirty clutches, showcasing the granddaddy of all crypto in a recent German advert… on the company’s Facebook page!
Sweden has taken steps towards issuing the first central bank digital currency, being the first European nation to start testing its e-krona.
Russia has finally come to a decision on crypto, but it’s not great news, with cryptocurrencies being outlawed as a means of payment in the country.
And Finally…
Max Keiser is back, turning up in a most unexpected place; conspiracy theory maximalist Alex Jones’s InfoWars show.
Jones and Keiser chewed the fat over various topics, though mainly Bitcoin. Keiser explained that he had a new Twitter handle to mark his conversion to Bitcoin maximalist. Apparently, he wasn’t comfortable with the fact that he had discussed other things on the old handle. Now he only wants to talk about Bitcoin.
Keiser even converted Jones into a Bitcoin believer, much to the chagrin of gold maximalist, Peter Schiff.
What was your favorite bitcoin or crypto story of this week? Let us know in the comments below!
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Bitcoin’s latest downturn has rattled the market, with BTC sliding toward the $95,000 range and pulling major altcoins down with it. The decline has sparked fresh speculation that Strategy (MSTR) may be offloading Bitcoin.
Bitcoin is down by 2. 1% in the past 24 hours, and its latest decline has come at a moment when many traders expected the opposite. The US government shutdown is already in the process of winding down after weeks of uncertainty, yet the prices of Bitcoin and Ethereum have continued to drift lower and are under pressure.
Key Takeaways
Why are Digital Asset Treasuries struggling now?
Weekly inflows have dropped 95% since July highs.
How does DAT performance compare to Bitcoin?
BTC is down just 10%, while most DATThe post DATs down 90% as Bitcoin fell 10% – Is the institutional party over? appeared first on AMBCrypto.
Bitcoin dropped below $106,505. 22 on Nov. 3, down 3. 6% in 24 hours, as a strengthening US dollar and sustained ETF outflows pressured crypto across the board. As of press time, Bitcoin has lost that key support level, now trading below $104,000 for the first sustained time since June.
After weeks of climbing, Bitcoin is pulling back. The crypto giant has dropped a few points on the day, dragging the crypto market down with it. Bitcoin (BTC) is currently trading around $115,630, down roughly 2.6% today. This is one…
Bitcoin price has pulled back over the past three days as the recent rally paused ahead of next week’s election. Bitcoin (BTC) retreated to $68,762, down 6.60% from its highest level this year. This decline has also triggered further sell-offs…
Bitcoin miners have been running down inventory in a rising market, moving away from the accumulation strategy seen ahead of prior halving in May 2020.
Bitcoin is in focus today after Robert Mitchnick of BlackRock Inc said returns coupled with the world’s largest cryptocurrency “will come down” moving forward. Is Mitchnick dovish on Bitcoin now? But that doesn’t mean he’s dovish on BTC at all.
Bitcoin crashed down to $25,000 last week, but swiftly rebounded in a huge pump following this false breakdown. At first, it appeared Bitcoin was continuing its downtrend as it broke down below the head and shoulders pattern.
Bitcoin is trading below $17k once again after losing roughly 2% of its value today. Bitcoin mining difficulty is down 7. 2%, the biggest drop in more than a year. The total crypto market cap is also down by nearly 2% in the last 24 hours.
We have seen the bitcoin market move sideways for the last few weeks. The good news is that as Bitcoin and Ethereum prices establish support and continue to trade above it, the bearish momentum is slowing down.
Bitcoin (BTC) has broken down from its corrective pattern and is at risk of breaking down from a horizontal support area. If this were to occur, it would likely take the price below its June lows.
El Salvador's president Nayib Bukele announced on 1 July that his country added 80 Bitcoin [BTC] to its balance sheet. He also noted that the purchase was made at $19,000 per BTC, a price level that hThe post Is Bitcoin really cheap at $19,000? Assessing if it could go further down appeared first on AMBCrypto.
Data shows the Bitcoin spot trading volume has once again come back down to normal values for 2022 after the big surge recently. Bitcoin Trading Volume Falls Back Down To Values Around $4 Billion As per the latest weekly report from Arcane Research, the Bitcoin trading volume has plummeted back down after the recent high values.
Hearing more negative speculation would be unpleasant for the investors as the recent bloodbath’s catastrophic effects already slowed down crypto markets. But unfortunately, an expert predicted Bitcoin would go far below.
Bitcoin and the rest of the crypto markets are continuing to struggle, with the bitcoin price trading down from the weekly high of $44,274 on Wednesday last week, down below the psychological $40,000 level at $36,629, as per data from Goingecko.
Bitcoin is back to about $38,000 after dipping to $36,400 yesterday as Nasdaq ended up down 3.74% in one of the worst day for stocks in months. After trading hours...
Currently sitting at nearly 35k, Bitcoin’s price this week has been affected good and bad, by both news from China cracking down on the coin, and that El Salvador is giving each of it’s citizens $30 of BTC.
After plummeting from $46k to $43k on Sunday, Bitcoin managed to hold onto the critical support level of $46,000. Breaking Down Bitcoin’s Price Action Down 20% from its all-time high reached earlier this month, Bitcoin finds itself in correction territory – a sharp change from the almost uninterrupted year-long bull run.
This week, the price of Bitcoin has been on a rollercoaster ride. We started with a dump right after hitting a new all-time high last Sunday at about $58,350. Following the drop, we made several attempts to go back up but only to end up lower and yesterday, we went down further down to $44k.
Bitcoin miners are selling a lot less than at the beginning of the year, with it down to under 1,000 bitcoin on some days and usually around 1,300 bitcoin a...
Bitcoin has seen some brutal price action throughout the morning, with overleveraged long positions being shaken out with a brief dip down to $15,700, while those panic shorting were then liquidated by a sharp rebound.
Even though Bitcoin (BTC) has been moving upwards since Sept. 8, it has shown considerable weakness indicating that it is likely beginning a final wave down that could end at $9,700. After the losses seen during the week of Aug 31-Sept 7, the Bitcoin price consolidated last week.
It was last weekend that the price of bitcoin surpassed $12,000 for the first time in a year, only to come crashing back down to $10,500 minutes after. A week after that and we haven’t achieved that level yet.
It’s been approximately 37 days since the notorious Bitcoin reward halving that took place on Monday, May 11, 2020. On June 16, the Bitcoin network saw a large upwards difficulty adjustment making it much harder to mine bitcoins and slowing down the issuance rate because block generation has slowed down.
Digital currency markets are down on Sunday evening roughly 2. 14% as global trade volume has slid by 31% this weekend. Coins like ethereum, bitcoin, litecoin, and bitcoin cash are all down between 1-2% in the last 24 hours.
Bitcoin's market reflected signs of recovery in the past week, after being worn down most of December. Although the BTC market cap was still down week-over-week, its estimated hash rate grew by over 1The post Bitcoin's supply increases by over 30% in a month on Bitfinex appeared first on AMBCrypto.
It is almost precisely two years ago that the bitcoin bear market began with the currency still down some 70% since. That’s better than eth, which is down 90%, and...
The post Has Bitcoin Found Iron Support? appeared first on Trustnodes.
If one were to look at the unrelated rise and fall of Bitcoin vis-a-vis internal factors within the digital assets space, the relevance of stablecoins increases. Seen as a balancing tool for the volatThe post Bitcoin drop below $8,500 may be tied down to USDCoin appeared first on AMBCrypto.
Ethereum price declined heavily below $170 and traded close to $150 against the US Dollar. Bitcoin price is down more than 8% and it even traded below the key $7,500 support. Yesterday’s highlighted bearish trend line is intact with resistance near $165 on the hourly chart of ETH/USD (data feed via Kraken).
If Bitcoin Breaks Down Here, will Fell to $8,700s “Buy the rumor, sell the news” Since dropping to nearly $9,300 level yesterday, Bitcoin is back above $9,500. August has resulted in a red month. However, despite seeing $9,150 this month, Bitcoin is down by just 2.
After its latest price drop, Bitcoin went from just over $10,270 to under $9,700 USD. The short-term probability is that Bitcoin may go down even more right now. Even the dominance of Bitcoin, which was over 70%, was pushed down to 69% at the moment.
Bitcoin Cash has finally come a bit to life with the currency up some 7% yesterday while bitcoin was down 7%. That’s on somewhat increased volumes for both, with the...
The post BCH Up, Bitcoin Down, Why? appeared first on Trustnodes.
Key takeaways BTC slipped below $90k a few hours ago but has rebounded and is now trading above $91k. The leading cryptocurrency could dip towards $85k if the selloff continues. The cryptocurrency market has continued its bearish performance in November as Bitcoin lost 5% of its value in the last 24 hours and temporarily dropped […]
The post Bitcoin price forecast: BTC eyes $85k support level as selloff continues appeared first on CoinJournal.
Bitcoin price outlook after BTC breaks below the 50-week moving average. While it’s a buy opportunity, bulls risk seeing another pullback and a revisit of sub-$90k levels. A flip of $95,000 into key support could allow for bullish retests of highs above $104,504.
Key takeaways BTC is down 1% and is now trading below $104,300 per coin. The bearish performance comes after Bitcoin failed to overcome the $107k resistance level. Bitcoin dips below $105k despite strong start to the week Bitcoin, the leading cryptocurrency by market cap, has underperformed over the last 24 hours despite a positive start […]
The post Bitcoin could dip below $104k as momentum fades; Check forecast appeared first on CoinJournal.
Bitcoin’s $100K level turns from milestone to stress point amid fading crypto momentum. Analyst Mike McGlone warns “extreme calm” in crypto and stocks may precede volatility. Bitcoin’s strong link to Wall Street means stock turbulence could trigger crypto swings.
Key takeaways BTC is trading above $103k, up 1. 5% in the last 24 hours. The coin could face further volatility amid weakening institutional demand. Bitcoin reclaims $103k The price of Bitcoin has been trading around $103k over the last few hours after rebounding from the $100k key support level on Wednesday.
Bitcoin Magazine
Bitcoin Price Slumps to $102,000 as Fed Policy, Investor Sentiment Pressure Markets
Bitcoin price slumped to below $102,852 before rebounding as the broader crypto market still tries to gain its footing.
Key takeaways BTC is down 3% in the last 24 hours and is now trading below $108k. The bearish performance comes as momentum in the market continues to weaken. Bitcoin slips below $108k The cryptocurrency market is opening the weekly candle bearish, with Bitcoin and other major cryptocurrencies suffering huge losses in the last 24 […]
The post Bitcoin price forecast: BTC could face further correction as momentum weakens appeared first on CoinJournal.
