The cryptocurrency faithful got a reprieve from recent market struggles thanks to a rally in decentralized finance (DeFi) tokens and Dogecoin (DOGE) on June 2. A bit of a breakout in the price of Ether (ETH) and Bitcoin (BTC) may have also lifted sentiment, but at the moment, the top-ranked digital assets are still meeting pushback at key overhead resistance levels. Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin rallied 7.3% from a low of $35,645 on June 1 to an intraday high at $38,250 on June 2, and Ether saw a similar-sized gain of …
Bull market optimism returned to the cryptocurrency market on Monday after Bitcoin’s (BTC) price rallied above the $40,000 level for the first time in over six weeks. Monday’s rally to $40,581 was a continuation of Sunday’s breakout that saw BTC’s price rocket to $48,110 on Binance after a short squeeze resulted in nearly $500 million in shorts being liquidated in just two minutes. Data from Cointelegraph Markets Pro and TradingView shows that BTC spiked to an intraday high at $40,581 on Monday before pulling back to $37,500 as bulls looked to flip this resistance zone back to support in preparation …
On Tuesday, Ether (ETH) underwent a bullish breakout which propelled the price to a new all-time high at $1,428. While the move may have been technical, the fundamentals for Etheruem continue to improve as less than one month after launch there is now $3.8 billion worth of ETH locked on the Eth2 blockchain. The rapid rise in price has clearly attracted the attention of pro traders but Cointelegraph analyst Marcel Pechman warns that Ether’s rise to a new high was also accompanied by a large increase in short positions. Ether’s break to a new high had little effect on Bitcoin …
Natalie Brunell, the host of Coin Stories podcast, thinks that the recent incidents involving Terra (LUNA, now rebranded LUNC) and Celsius (CELH) and the following market sell-off will lead to regulatory action that will likely favor Bitcoin (BTC) over the rest of cryptocurrency. “I'm going to be watching for regulation developments, just signifying that Bitcoin is a digital property and that maybe there's more fair accounting that can be done to allow institutions to invest," she said in her latest interview with Cointelegraph. "And the other cryptocurrencies, I think will be deemed securities,” she continued. Brunell defines herself as a …
There is good reason to be afraid. Previous down markets have seen declines in excess of 80%. While tightfisted hodling might hold wisdom among many Bitcoin (BTC) maximalists, speculators in altcoins know that diamond handing can mean near (or total) annihilation. Regardless of one’s investment philosophy, in risk-off environments, participation flees the space with haste. The purest among us might see a silver lining as the devastation clears the forest floor of weeds, leaving room for the strongest projects to flourish. Though, doubtlessly, there are many saplings lost who would grow to great heights themselves if they had a chance. …