Bitcoin’s Record Red Month May Be Setting Up A Reversal: Analysts
The Bitcoin price action has taken a grim tone this month as trading rolls toward what may become a fifth straight red monthly candle. According to CoinGlass, BTC is down roughly 15% this month after closing the previous four months lower, a run not seen since 2018. Related Reading: XRP On The Spotlight As Arizona Advances Landmark Digital Asset Bill Reports note that similar multimonth selloffs in the past were sometimes followed by sudden, strong rebounds, but those outcomes were not automatic. Traders are watching support near recent lows while sentiment indicators show rising caution....
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Bitcoin’s price fell on U.S. regulatory pressures while Ethereum miners reaped record fee revenue the past month.
Bitcoin price has been on an absolute tear, setting record after record over the last several months. After consolidating for weeks at a level more than double the last cycle’s peak, Bitcoin is back to making new highs and now has now traded at $50,000 for the first time in its more than decade long existence. Within moments of touching $50,000, however, sell orders began triggering. The initial rejection could suggest that the phycological resistance […]
Michael Saylor kept buying while the market slid, and he did it out loud: “Neven been more bullish,” he said in an X post Thursday. His public posts and regulatory filings show Strategy continued to add to its Bitcoin pile even as price swings turned paper gains into big unrealized losses. Related Reading: Bitcoin’s Record Red Month May Be Setting Up A Reversal: Analysts The firm’s recent regulatory filing confirms a fresh purchase this month, while market reports and accounting disclosures show the wider hit to corporate treasuries. Market Value Drop Shakes Portfolios Bitcoin....
According to a recent post on X by crypto analyst Ali Martinez, Ethereum (ETH) may be heading to $1,250 as it risks breaking down from a parallel channel. However, other analysts suggest a trend reversal could be on the horizon for the second-largest cryptocurrency by market cap. Is Ethereum Heading Lower? Ethereum has been stuck […]
Bitcoin has undergone a strong rally over the past few weeks. The market has dropped in the near term due to a strong decline in the Dow Jones and S&P 500 index. One crypto-asset analyst who called the V-shaped reversal that we saw in March remains bullish. He says that Bitcoin could undergo “50% pumps” heading into the end of Q4 and the start of 2021. Bitcoin Will See a Big Q4, Analysts Say Bitcoin […]