weekend volatility ‘expected’ with $22K level to hold

Bitcoin (BTC) rose above $23,000 again into Aug. 6 as new analysis predicted a potential surge of 20% or more. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Daily chart gives trader $30,000 target Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing overnight to once again sit near the top of its established trading range. After multiple attempts to break out above range resistance at $23,500, the pair appeared still stuck in limbo at the time of writing, but hopes of bullish continuation were already there. “Expecting more volatility…

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2 metrics signal the $1.1T crypto market cap resistance will hold

Cryptocurrencies have failed to break the $1.1 trillion market capitalization resistance, which has been holding strong for the past 54 days. The two leading coins held back the market as Bitcoin (BTC) lost 2.5% and Ether (ETH) retraced 1% over the past seven days, but a handful of altcoins presented a robust rally. Crypto markets’ aggregate capitalization declined 1% to $1.07 trillion between July 29 and Aug. 5. The market was negatively impacted by reports on Aug. 4 that the U.S. Securities and Exchange Commission (SEC) is investigating every U.S.…

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AVAX Struggles To Hold Above Resistance As It Eyes $40

Avalanche (AVAX) struggles to hold above key support that will set the tone for a rally to the $40 mark region anticipated by many. The price of Bitcoin (BTC) saw a retracement as it could not break and hold above important support that corresponds with the daily 50 exponential moving average (EMA). BTC’s unable to hold that region has led to AVAX struggles to form good support.  Avax Weekly Chart Analysis Avax Weekly Chart Analysis | Source: AVAXUSDT On Tradingview.com The weekly chart for Avax shows a downtrend reversal to…

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Bitcoin miners now hold a record 1.856M BTC — new data

Bitcoin (BTC) miners now own more BTC than at any time in history as the impact of the past months’ turbulence wears off. According to data from on-chain analytics firm CryptoQuant, miners’ BTC holdings increased dramatically in July. Miners keep stacking sats In the latest sign of miners recovering from recent price weakness, the amount of BTC in their wallets has hit a fresh all-time high. As noted by CryptoQuant contributor and analyst Jan Wuestenfeld, their combined balance totaled 1,865,272 BTC as of July 29. The start of August saw…

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Bitcoin dips to $22.6K, risking further losses if it fails to hold above 200-week MA

The mood across the cryptocurrency ecosystem is noticeably brighter on July 22 after a week of gains helped traders put the events of the past two months behind them and look toward a positive future.  Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC) has been oscillating around support at $23,000 over the past couple of days and continues to hold slightly above its 200-week moving average (MA), which has been a reliable indicator of bear market bottoms in the past. BTC/USDT 1-day chart. Source: TradingView…

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Bitcoin traders eye levels to hold as ‘decision time’ looms for BTC price

Bitcoin (BTC) recovered above $23,000 on July 22 as attention increasingly focused on the upcoming weekly close. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price needs to preserve at least $22,400 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD finding renewed strength after briefly dipping toward $22,000. The pair traded in a critical zone for bulls on the day, with the 50-day and 200-week moving averages (MAs) still yet to flip from resistance to support. Analysts were holding out for the weekly candle close to determine the strength…

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Ethereum Price Falls Below Critical Level, Will It Hold $1,000?

Ethereum has now lost its hold on an important level. This decline follows that of bitcoin which has now fallen below $20,000. However, for Ethereum, the fight continues to hold on to the one point where bulls still see some hope. However, with the way the market is moving, it may not be long before Ethereum is testing the critical $1,000 support level. Ethereum Falls Below $1,100 For Ethereum, holding above $1,100 for the past week had meant that there was still hope for a good run-up that could see…

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Ethereum Turns Red, Why ETH Must Hold This Key Support

Ethereum declined below the $1,200 zone against the US Dollar. ETH is now at a risk of more losses if it fails to stay above the $1,150 support zone. Ethereum started a fresh decline from the $1,250 and $1,280 levels. The price is now trading below $1,200 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $1,200 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline sharply if there is a clear move below the $1,150…

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Bitcoin bears have plenty of reasons to hold BTC price below $32,000

Since May 10, the Bitcoin (BTC) chart shows a relatively tight range of price movement and the cryptocurrency has failed to break the $32,000 resistance on multiple occasions. BTC-USD 12-hour price at Coinbase. Source: TradingView The choppy trading partially reflects the uncertainty of the stock market as the S&P 500 Index ranged from 3,900 to 4,180 in the same period. On one side, there has been economic growth in the Eurozone where the gross domestic product grew 5.1% year over year. On the other, inflation continues to soar, reaching 9%…

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Bitcoin bond still on hold, El Salvador accused of human rights violations

El Salvador’s finance minister Alejandro Zelaya has said the country will further delay launching its anticipated billion dollar Bitcoin (BTC) bond citing price volatility and uncertain market conditions resulting from the ongoing Russo-Ukrainian war. The news comes at the same time that Amnesty International accused the Salvadoran authorities of “flagrant violations of human rights and criminalizing people living in poverty.” In a June 1 interview on the local “Frente a Frente” (Face-to-Face) news program Zelaya was asked if the situation with the $1 billion Bitcoin bond issuance from a “few…

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