‘Foolish’ to deny Bitcoin price can go under $10K — Analysis

Bitcoin (BTC) preserved $20,000 for another day on June 23 with calls for another 20% drop still surfacing. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin under $10,000 not impossible Data from Cointelegraph Markets Pro and TradingView showed BTC/USD ranging just above the $20,000 mark over the 24 hours to the time of writing. As ever, the behavior reflected moves in United States equities markets, which stayed flat on the day. Remarks by Federal Reserve chair Jerome Powell had provided only brief volatility. Cointelegraph noted that Powell’s Congress testimony provided no…

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‘Too early’ to say Bitcoin price has reclaimed key bear market support — Analysis

Bitcoin (BTC) crept higher after the June 14 Wall Street open as analysts hoped that long-term support had been preserved. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Hopes for “relief” from FOMC meeting Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it traded above $22,500 at the time of writing, having hit local highs of $23,300 on the day. The pair had seen a strong bounce after nearing $20,800, with traditional markets likewise recovering after panic set in over United States inflation. Eyeing where Bitcoin could go next, on-chain…

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$30K BTC price has ‘severe impact’ on Bitcoin miner profits — analysis

Bitcoin (BTC) is squeezing its miners this month as suppressed prices threaten to impact profitability. The latest data shows both narrowing profit margins and miners waiting longer to recoup their initial investment. Miner production cost faces off with BTC price While Bitcoin miners have largely held off on major distribution as BTC/USD descends from all-time highs, the picture now appears precarious. Calculations from on-chain analytics platform CryptoQuant reveal that miners’ production price — how much it costs to mine a single bitcoin — could be right where current spot price…

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Chainalysis exec touts blockchain analysis to Senate homeland security committee

The collection and processing of information was a major theme at the United States Senate Committee on Homeland Security and Governmental Affairs (HSGAC) hearing titled, “Rising Threats: Ransomware Attacks and Ransom Payments Enabled by Cryptocurrency” on Tuesday. The committee hosted a panel of private-sector experts who discussed the problem of ransomware attacks and the challenges of collecting and using the information necessary to fight them.  Committee chair Gary Peters of Michigan, who introduced the Strengthening American Cybersecurity Act in February, said the government lacks sufficient data even to understand the…

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Small Bitcoin whales may be keeping BTC price from ‘capitulation’ — analysis

Bitcoin (BTC) could still see a major price capitulation, but more whales need to start selling first, data suggests. In one of its daily QuickTake market updates on May 27, on-chain analytics platform CryptoQuant highlighted increasingly bearish whale behavior. Small whale selling should spark “absolute capitulation” Amid widespread consensus that BTC/USD should put in a lower low than its May 12 pivot price of $23,800, some of Bitcoin’s largest holders are showing signs of impatience. Looking at unspent transaction outputs (UTXOs) from various “bands” of whale wallets, CryptoQuant contributor Binh…

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Scott Minerd says Bitcoin price will drop to $8K, but technical analysis says otherwise

Bitcoin (BTC) is predicted to drop more than 70% to the $8,000 value area, according to comments by Guggenheim chief investment Officer Scott Minerd. This is not the first time he has made a bearish call, and he has, in the past, made bullish calls as well. However, Minerd’s more recent calls have occurred just before major reversals. Scott Minerd BTC price calls:– $600k at $60k → went to $30k.– $10k at $30k → price to $65k.– $8k at $30k (again) → TBD. pic.twitter.com/NWjrRdegFM — mhonkasalo (@mhonkasalo) May 23, 2022 It…

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Assuming Bitcoin plays nice, higher timeframe analysis points to $90 Solana (SOL) price

Solana price has begun to consolidate in a tightening range and if the wider market remains stable, it’s possible that SOL could break out in the short-term. SOL’s upside potential in the short-term could be significant with the move itself occurring quickly. The 2022 Volume Profile between $53 and $90 is extremely thin, indicating that any daily close above $53 would easily move towards the next high volume node in the $90 value area. In addition, the 50% Fibonacci retracement of the all-time high to the July 26, 2021 weekly…

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