Market Analysis

Bitcoin (BTC) is at 10-week lows, but one longtime analyst is telling investors to ignore the “panic.” In a Twitter update on May 25, Philip Swift, creator of data resource LookIntoBitcoin and co-founder of trading suite DecenTrader, eyed a BTC price breakout still in progress. Swift: “Bitcoin performing well and as expected” Bitcoin has not

Driven by heightened demand for Bitcoin (BTC) block space, fueled by Ordinals inscriptions and the PEPE-fueled BRC-20 memecoin mania, miners have become direct beneficiaries of a sudden boom in transaction fees, increasing their bottom lines. This surge has resulted in an unprecedented increase in the average number of transactions, and consequently revenue per BTC block

Bitcoin (BTC) returned above $26,000 on May 25 after an overnight dip offered a retest of recent lows. BTC price action acts around key 200-week moving average Data from Cointelegraph Markets Pro and TradingView showed BTC/USD acting in its range from the day prior, having recovered from flash weakness after the daily candle close. With

Synthetix weekly trading volumes surpassed $1 billion, overtaking decentralized derivatives exchange GMX to become the second-most active platform. The trading volume data from Token Terminal shows that Synthetix did more than twice the trading of GMX in the seven-day period starting May 17, thanks to Optimism (OP) token incentives for perpetual swap traders. The Synthetix

Earlier in May, the market capitalization of Pepecoin (PEPE) — a cryptocurrency inspired by the popular internet meme Pepe the Frog — had soared to $1.8 billion. Two weeks later, the PEPE market cap has come crashing down to roughly $665 million, a 65% decline. Let’s look at the reasons why.  Pepe mania winners dump PEPE whales appear

Bitcoin (BTC) price has consolidated within a tight range as hodlers remain hardened and new liquidity is not arriving.  While Bitcoin is typically a highly volatile asset, weekly consolidation around a slight 3.4% price range has many analysts feeling that BTC price is stuck. Others are anticipating an uptick in volatility. While the lack of

Bitcoin (BTC) staged a classic range comeback on May 23 as markets “bought” hopes that the United States had resolved the debt ceiling debacle. $30,000 back on the cards Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it headed toward $27,500 on Bitstamp overnight. Still stuck in a familiar trading corridor, the pair

The monthly trading volume of nonfungible tokens (NFTs) and memecoins on Bitcoin in May surpassed Solana’s volume, according to data from CryptoSlam.  Bitcoin ordinals trading volume currently stands in second place behind Ethereum, which did $393 million in NFT volume, more than twice that of ordinals on Bitcoin (BTC) in 30-days starting April 23. Bitcoin

Bitcoin (BTC) remained stuck inside a narrow range into May 20 as cryptocurrency markets shook off United States macro triggers. Powell leaves market with “tons of uncertainty” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading just below $27,000. The pair had seen brief volatility after Jerome Powell, Chair of the Federal Reserve, gave

Bitcoin (BTC) traded back below $27,000 on May 19 as analysis flagged large-volume trades pressuring price. Inflation specter haunts crypto markets Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting lows of $26,380 on Bitstamp. A modest recovery then took the pair to a range familiar from several days prior, this still in focus

Bitcoin (BTC) stares at potential losses heading into the third-quarter of 2023 after U.S. lawmakers will likely reach an agreement on raising the debt ceiling. A $1 trillion liquidity hole ahead Raising the debt ceiling means the U.S. Treasury could issue new bonds to raise cash to meet its previous obligations. As a result, the

Bitcoin has been trying to break above the $27,500 resistance for the past week but to no avail. One of the reasons limiting Bitcoin’s (BTC) upside is the risk of an eventual United States default as the government struggles to get the debt limit increase approved in Congress.  Still, some analysts and investors argue that the U.S.

Bitcoin (BTC) held a snap rebound on May 18 as analysts hoped that further upside would come next. BTC price sustains knee-jerk move higher Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it circled $27,400 on Bitstamp. The pair had made swift gains toward the prior day’s Wall Street open, these topping out

Bitcoin (BTC) price lost steam after a failed rupture of the $27,500 resistance on May 15, putting bears in a better position for the May 19 expiry. The regulatory newsflow likely played a key role in trimming investors’ risk appetite as governments seek more control over the sector. In a memo circulated among committee members,

Bitcoin (BTC) is entering a new “speculation cycle” typical of a bull run, new analysis says. In a tweet on May 16, Philip Swift, creator of data resource LookIntoBitcoin and co-founder of trading suite Decentrader, revealed history repeating itself according to the RHODL Ratio metric. RHODL Ratiocreator on BTC price: “Zoom out” RHODL Ratio is

Bitcoin (BTC) surfed $27,000 on May 16 as traders stayed buoyant about upside continuation. $24,000 BTC price still in play, says trader Data from Cointelegraph Markets Pro and TradingView showed BTC/USD still focusing on the $27,000 mark, having dipped to $26,870 after the daily close. Still lacking direction, traders hoped that the pair would either

Bitcoin saw five-day highs on May 15 as a rebound continued after the Wall Street open. $40,000 “still a magnet” for BTC price Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $27,666 on Bitstamp. Bitcoin (BTC) on Bitstamp held strength on hourly timeframes after a weekly close just below the $27,000 mark. With

Bitcoin (BTC) is fighting for the bull trend as the new week begins as the market acts within a crucial zone. After closing the weekly candle at just below $27,000, BTC/USD is attempting to cement support as a stubborn trading zone holds. The stakes are already high — last week saw a flash dip below

Bitcoin (BTC) struggled to recover from fresh losses on May 11 as a false alarm over United States government sales spooked markets. Analysts deny U.S. government BTC sales Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $27,400 at the time of writing. The pair had seen a flash sell-off the day prior, briefly

IRS wants $38 billion tax from Alameda According to recent flings posted by the claims agent of bankrupt cryptocurrency exchange FTX, the U.S. Internal Revenue Service (IRS), is claiming a total of $44 billion from the exchange’s bankruptcy and related firms, including $38 billion against its sister quantitative trading firm Alameda Research. In one single