Bitcoin (BTC) has been consolidating inside the $18,000-$20,000 price range since mid-June, pausing a strong bear market that began after the price peaked at $69,000 in November 2021. Many analysts have looked at Bitcoin's sideways trend as a sign of a potential market bottom, drawing comparisons from the cryptocurrency's previous bear markets that show similar price behaviors preceding sharp, bullish reversals. Here're three strikingly similar trends that preceded past market bottoms. 2018 BTC price sideways trend The 2018's Bitcoin bear market serves as a major cue for a potential market bottom in 2022 if one looks at its eerily similar …

Bitcoin (BTC) is decoupling from big tech as disappointing earnings fail to spark any major BTC price losses. Economic data for Q3, 2022 saw heavy losses for some tech stocks, but BTC/USD avoided a chain reaction. Bitcoin hodlers shrug off Q3 tech results The largest cryptocurrency shed around $800 over Oct. 27, or 3.8%, after hitting its highest levels in six weeks. At the time of writing, Bitcoin was still around $20,200, offering more consolidatory trading behavior than a major correction. The same was not true of tech stocks, these led by a dramatic 20% rout in Amazon during out-of-hours …

Bitcoin (BTC) consolidated gains on Oct. 27 as the highest levels in six weeks gave way to sideways action. Bitcoin impresses with stability on GDP print Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $20,500 on Bitstamp after reaching local highs of $21,012 the day prior. The largest cryptocurrency treaded water in line with United States equities at the Wall Street open, with the S&P 500 flat and the Nasdaq Composite Index down around 1% at the time of writing. The U.S. dollar index (DXY) meanwhile began to claw back losses on the day, providing a headwind to …

Bitcoin miner Core Scientific filed forms with the United States Securities and Exchange Commission (SEC) on Oct. 26 indicating that will not make payments due in late October and early November. The company blamed low Bitcoin prices, increased electricity costs, an increase in the global Bitcoin hash rate and litigation with the bankrupt crypto lender Celsius for the situation. The payments the company will skip would have gone to equipment and other financing and two promissory notes. Its creditors may decide to exercise remedies such as accelerating the debt or suing the company, it noted. Those actions, in turn, could …

Bitcoin (BTC) has seen record buying activity as BTC/USD returns to six-week highs. The latest data from on-chain analytics firm CryptoQuant shows more BTC leaving major exchange Binance in a single day than ever before. Binance finishes the day 55,000 BTC lighter Despite warnings that a macro bottom may not yet have occurred, Bitcoin investors have wasted no time snapping up BTC above $20,000. The past two days’ gains delivered a sea change to exchange user behavior, with BTC balances dropping across the board. As the largest exchange by volume, Binance was of particular interest, and saw a net position …

Research has detailed Bitcoin’s recent record-low volatility and while traders expect an eventual price breakout, the Oct. 26 BTC price move to $21,000 is not yet being interpreted as confirmation that $20,000 has now become support. In a recent “The Week On-chain Newsletter,” Glassnode analysts mapped out a bull case and a bear case for BTC. According to the report, the bear case includes limited on-chain transaction activity, stagnant non-zero address growth and reduced miner profits present a strong Bitcoin sell-off risk but data also shows that long-term hodlers are more determined than ever to weather the current bear market. …

Bitcoin price is up today, and a market-wide rally in crypto prices suggests that BTC and Ether (ETH) could be aiming to wrap up the month of October in the black. As of October 26, 2022, most major cryptocurrencies are posting single-digit gains. Bitcoin recorded a 5.15% price increase within the last 24 hours and a 5.48% gain within the last 7 days. While the current price is fluctuating, BTC is holding above the psychologically important $20,000 level. The following chart shows the BTC rally since October 24, 2022. Stocks are beginning the day down as Bitcoin continues to remain …

Bitcoin (BTC) returned to $21,000 for the first time since September after the Oct. 26 Wall Street open as buyers solidified gains. BTC bulls "eat" ask liquidity Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it hit local highs of $21,012 on Bitstamp. At the time of writing, the pair continued to explore territory out of reach for over six weeks. Liquidations also kept flowing, with the past 24 hours delivering $750 million in liquidated positions on Bitcoin alone, according to data from Coinglass. Cross-crypto liquidations totaled $1.43 billion, adding to what was already the highest tally in …

Bitcoin (BTC) volatility is finally giving BTC bulls what they want — but why now? After drifting lower for months and spending recent weeks in a tiny trading range, BTC/USD has delivered 24-hour gains in excess of 7%. Hitting its highest levels since mid-September, the largest cryptocurrency is rewarding those who refused to sell and punishing shorters to the tune of around $1 billion. The change of trend has come quickly and caught many by surprise, as evidenced by that liquidation tally. Behind the scenes, however, little has changed — macroeconomic conditions have not undergone major upheaval compared to a …

Anticipation of the next Bitcoin (BTC) halving will be the main catalyst to spark a crypto rally as soon as the second quarter of 2023, according to hedge fund manager Mark Yusko. The halving mechanism, which reduces the Bitcoin block rewards by half every four years, has historically been a major catalyst for crypto rallies. The next halving is expected to occur in early 2024. “Usually the market will anticipate that by about nine months,” Yusko said in a recent interview with Cointelegraph. According to the hedge fund manager, the halving will propel Bitcoin to $100,000 "by the laws of …

Ethereum's native token Ether (ETH) recorded better gains than Bitcoin (BTC) over the past 24 hours despite the latter finally rising above the key $20,000 level. Ethereum beats Bitcoin in risk-on rally On the daily chart, Ether jumped approximately 14% to reach its weekly high of $1,554 (data from Binance) on Oct. 26. Bitcoin underwent a similar rally but its week-to-date profits are just 6% by comparison. The ETH/BTC pair gained around 8%, climbing as high as 0.075 BTC on Oct. 26. The boom across the top crypto assets was synchronous with the U.S. stock market's winning streak since Oct. …

Bitcoin (BTC) saw its highest levels since mid-September on Oct. 26 as BTC/USD approached the pivotal $21,000 mark. Bears lose big as Bitcoin climbs Data from Cointelegraph Markets Pro and TradingView showed the pair tackling $20,700 at the time of writing, up over 7% in 24 hours. What began as an assault on $20,000 continued on the day, liquidations mounting further after already sealing the biggest shorts obliteration of 2022. According to data from analytics resource Coinglass, Bitcoin alone accounted for $550 million in liquidations in the past 24 hours. $704 million in cross-crypto shorts were liquidated on Oct. 25, …