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Bitcoin is witnessing profit-booking near $38,000, but the correction is likely to be shallow as lower levels are likely to attract buyers. Bitcoin (BTC) has started the week on a negative note. The failure of the bulls to pierce and sustain above the $38,000 resistance has given a small window of opportunity for the bears to try and make a comeback. Strong selling has pulled the price below $37,000 on Nov. 27. However, lower levels are likely to attract buyers as the bulls will want to maintain the momentum going into the final month of the year. The bears are likely to have other plans as they will attempt to deepen the correction. That could boost volatility in the last few days of November as both the bulls and the bears try for a monthly closing in their favor. Daily cryptocurrency market performance. Source: Coin360 While near-term uncertainty remains, Rich Dad Poor Dad author Robert Kiyosaki reiterated his long-term bullish view on Bitcoin, gold and silver in a X (formerly Twit...

Bitcoin and several altcoins are stuck in a tight range, indicating that a breakout is brewing. A large part of the recent leg of Bitcoin’s (BTC) rally started after BlackRock filed to list a spot Bitcoin exchange-traded fund (ETF) on June 15. Several applications by other firms have been rejected by the United States Securities and Exchange Commission in the past. However, BlackRock’s filing has a 50% possibility of getting approved, said Bloomberg senior ETF analyst Eric Balchunas.  Another bullish catalyst for the cryptocurrency markets could be a filing by asset manager Fidelity Investments to launch its Bitcoin spot ETF. CoinShares Chief Strategy Officer Meltem Demirors said that firms managing $27 trillion of assets are “actively” pursuing efforts to allow their clients exposure in the crypto space. Daily cryptocurrency market performance. Source: Coin360 Most of the focus in recent days has been on institutional money but the retail trader’s power should not be underestimated....

Bitcoin and altcoins feel the pressure of the week's regulatory bombshells, with BTC price action steadying below the key 200-week moving average. Bitcoin (BTC) challenged three -month lows into June 10 as altcoins in particular felt the heat from United States regulatory pressure. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Altcoin bloodbath as exchanges reshape landscape Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $25,483 on the day, down over $1,200 from the previous day’s high. While showing weakness, Bitcoin was spared the fate of major altcoins, which reacted strongly to delisting that accompanied U.S. legal action against major exchanges. Trading app Robinhood announced that it would remove support for several cryptocurrencies named in the lawsuit against Binance and Coinbase by the U.S. Securities and Exchange Commission (SEC). These subsequently hemorrhaged value, with both Cardano (ADA) and Solana (SOL) down nearly 25% in ...

After consistently rising over the past few days and attaining new local highs, the market’s top cryptos, i.e. Bitcoin and Ethereum, were seen taking a breather on Tuesday, March 21. The effect of the same was reflected in the global crypto market cap, which was down 1.2% to $1.16 trillion at press time. Barring a few exceptions, most other cryptos followed Bitcoin and Ether’s suit and were trading at minor corrections within the 24-hour timeframe. Also Read: Has Bitcoin Finally Entered Into its Bull Phase? XRP On Tuesday, most of the 100 assets were borderline trading in the red. However, XRP was not one among them. At press time, the market’s sixth largest crypto was up by around 4.8% on the daily time frame. Like most assets, even XRP recently broke past its downtrend. Using the same bearish trendline as support, the asset recently went on the knock on the doors of $0.4. The asset’s buying momentum has not yet reached its saturation point, for the RSI continues to hov...

DXY is cooling off and crypto and equities are starting to heat up. Cointelegraph explores how BTC and altcoins could react to the current bullish momentum in the market. Investors across asset classes have been keeping a close watch on the United States Federal Reserve’s monetary policy because that sets the stage for a risk-on or a risk-off environment.  The strong rally in the U.S. stock Markets on Jan. 6 and in Cryptocurrencies over the weekend suggests that market observers anticipate the Fed to slow down its frantic pace of rate hikes. The optimism was fuelled by the greater-than-expected slowdown in wage gains in the December jobs report and the first contraction in U.S. services industry activity since May 2020. The next trigger that may influence the Markets could be the Consumer Price Index data due on Jan. 12. Daily cryptocurrency market performance. Source: Coin360 While the cryptocurrency markets may benefit from a risk-on environment, the extent of the up-move may be lim...

Bitcoin and most major altcoins are trading close to their overhead resistance levels, increasing the likelihood of an upward push. Bitcoin (BTC) is on track to end the year with a loss of about 65%. This would mark the third negative year for Bitcoin with the other two being 2014 and 2018. In comparison, the S&P 500 has fared much better but that is also down close to 20% in 2022. Although cryptocurrency prices have seen deep cuts this year, traders have continued to plow money into the space. An online survey conducted by Blockchain.com shows that 41% of the respondents bought crypto this year and 40% plan to purchase crypto in the next year. Daily cryptocurrency market performance. Source: Coin360 However, a sustained recovery in risk-assets may happen only after inflation shows signs of cooling. That would raise expectations of a pivot by the United States Federal Reserve from its aggressive monetary tightening to an expansionary policy. In the short term, markets may remain v...