Reserve Bank of India ranks crypto near the bottom of systemic risks despite harsh criticism

In its latest financial stability report published on Thursday, the Reserve Bank of India, or RBI, reiterated its skepticism of digital assets, writing:  “We must be mindful of the emerging risks on the horizon. Cryptocurrencies are a clear danger. Anything that derives value based on make-believe, without any underlying, is just speculation under a sophisticated name.” The report alleged that decentralized cryptocurrencies “are designed to bypass the financial system and all its controls,” including anti-money laundering, combatting financial terrorism, and know-your-customer mechanisms. In a similar tone to the previous report,…

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Bitcoin’s bottom might not be in, but miners say it ‘has always made gains over any 4-year period’

Your favorite trader is saying Bitcoin (BTC) bottomed. At the same time, the top on-chain indicators and analysts are citing the current price range as a “generational buy” opportunity. Meanwhile, various crypto and finance media recently reported that Bitcoin miners sending a mass of coins to exchanges are a sign that $17,600 was the capitulation move that pins the market bottom.  There’s so much assurity from various anon and doxed analysts on Crypto Twitter, yet Bitcoin price is still in a clear downtrend, and the metrics don’t fully reflect that…

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Bitcoin Monthly Tags Lower Bollinger Band, Tool’s Creator Hints At Bottom

Bitcoin price action on monthly timeframes has made a historic move to the touch the lower Bollinger Band – a popular technical indicator and volatility measuring tool. Although he warns there isn’t yet a sign that a bottom is in, the tool’s creator says where price action tapped is a “logical” level for such a bottom to occur. Unprecedented Bitcoin Price Action Taps Monthly Bollinger Band For First Time In History Expectations for Bitcoin price in 2022 were closer to $100,000 per coin and above. Yet the top cryptocurrency today…

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Final Capitulation — 5 reasons why Bitcoin could bottom at $10,000

Bear markets have historically been challenging to navigate for traders and the conventional set of “reliable” indicators that determine good entry points are unable to predict how long a crypto winter might last. Bitcoin’s (BTC) recent recovery back above the psychologically important price level of $20,000 was a sign to many traders that the bottom was in, but a deeper dive into the data suggests that the short-term relief rally might not be enough proof of a macro-level trend change. Evidence pointing to the need for caution was provided in a…

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Friday’s $2.25B Bitcoin options expiry might prove that $17.6K wasn’t BTC’s bottom

Bitcoin (BTC) has been trying to break out of a descending trend for the past week and the first attempt on June 16 failed to break the $22,600 resistance. The second attempt at $21,400 on June 21 was followed by an 8% price correction. After two failed breakouts, the price currently trades below $20,000 and raises questions on whether $17,600 was really the bottom. Bitcoin/USD 4-hour chart at Coinbase. Source: TradingView The longer it takes for BTC to break from this bearish pattern, the stronger the resistance line becomes and…

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Bitcoin Bounces Back Before Hitting 2017 Peak, Is The Bottom In?

The price of bitcoin had dropped dangerously close to the 2017 cycle peak on Wednesday. It was a brutal decline for investors who watched their BTC portfolios incur losses after losses. Speculations were rampant in the space on what a touch below $20,000 would have meant for the market. The implications were abundant in their impact but the recovery back above $21,000 has staved off the bears, if only for a little while. Is The Bitcoin Bottom In? After the market recovery on Wednesday, it has become apparent that there…

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Bitcoin bounces 8% from lows amid warning BTC price bottom ‘shouldn’t be like that’

Bitcoin (BTC) spared hodlers the pain of losing $20,000 on June 15 after BTC/USD came dangerously close to last cycle’s high. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin “bottom” fools nobody Data from Cointelegraph Markets Pro and TradingView showed BTC/USD surging higher after reaching $20,079 on Bitstamp. In a pause from its sell-off, the pair followed United States equities higher on the Wall Street open, hitting $21,700. The S&P 500 gained 1.4% after the opening bell, while the Nasdaq Composite Index managed 1.6%. The renewed market strength commentators said, was…

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Biggest Bitcoin exchange inflows since 2018 put potential $20K bottom at risk

Bitcoin (BTC) could be on the verge of a retail major sell-off as exchange inflows spike to almost three-and-a-half-year highs. Data from on-chain analytics platform CryptoQuant shows users of 21 major exchanges sending coins to their wallets en masse June 14. Major exchanges finish up 83,000 BTC in a single day As BTC/USD fell to lows of $20,800, panic appeared to set in among traders, and despite a reversal that at one point topped $23,000, few seemed willing to trust that the worst was over. Since then, spot price action…

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