Bitcoin Is Trading 40% Beneath Its 200-Day MA — What’s Next?
Recent on-chain data shows that the Bitcoin price is currently at an important phase, raising suspicions as to whether the market is nearing a cyclical bottom. Mayer Multiple Falls To 0.6 — What This Means In a recent Quicktake post on the CryptoQuant platform, on-chain analyst Ruga Research pointed out that the Bitcoin price now has a 40% negative deviation from its 200-day moving average. This on-chain observation revolves around the Bitcoin Mayer Multiple. Related Reading: Bitcoin Drifts Into A Deep Conviction Zone, Smart Money Stays Patient For context, the Mayer Multiple metric....
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On Thursday evening around 10 p.m. (EST), the price of bitcoin fell beneath the $40K zone for the first time since September 21, 2021. During Friday’s early morning trading sessions, bitcoin plunged to a low of $38,250 per coin. Furthermore, the market capitalization of the entire crypto-economy has slipped under the $2 trillion mark, down 7.5% to $1.94 trillion.
Bitcoin Sheds 8% Over the Last 24 Hours, Down 40% From November’s All-Time High
The price of bitcoin (BTC) dropped below the $40K zone for the first time in 122 days. BTC lost roughly 8% during the last 24....
Ethereum’s price action throughout the past few days and weeks has been rather lackluster The cryptocurrency has been underperforming Bitcoin and even some of its altcoin counterparts This trend is shifting slightly today, as the entire crypto market is starting to move higher One analyst is noting that ETH is bearish from a purely technical standpoint, as it is currently trading below multiple key technical levels Yesterday, it closed beneath both its 50 and 100-day […]
XRP flashed lateral price movement at the time of writing. The coin register some gains over the last 24 hours however, it was quite minor. Bulls are not completely back in the market yet. For bulls to be back in the market, it is essential for XRP to move above the $0.60 mark. Technical outlook of XRP hasn’t completely pointed towards a recovery because the bears are still in charge of the price. The one day chart of the XRP has continued to depict bearishness on the chart. Over the last week, XRP fell by almost 7%. Although the coin has printed a symmetrical pattern on the chart,....
The Bitcoin price started 2025 with an uninspiring performance in January, moving mostly sideways throughout the month. The premier cryptocurrency’s negative start to February — dropping around $92,000 on the first day — was a sign of what’s to come later in the month. The Bitcoin price has since slipped beneath $80,000, posting one of […]
Both Bitcoin and Ethereum have extended their retracements into the past 24 hours, puncturing price thresholds that many technical analysts had deemed as important support levels. Bitcoin has slipped below $110,000, while Ethereum has also broken beneath the $4,000 price level. The most recent correction questions the durability of the uptrend and whether this is […]