Bitcoin (BTC) rebounded sharply after dropping near its realized price of $24,000 on May 12, suggesting some bulls went against the herd and bought the dip. According to on-chain analytics platform CryptoQuant, the exchange balances declined by more than 24,335 Bitcoin on May 11 and 12, indicating that bulls may have started bottom fishing. However, macro investor Raoul Pal is not confident that a bottom has been made. In an exclusive interview with Cointelegraph, Pal said that if equity markets witness a capitulation phase, crypto markets are also likely to plunge before forming a bottom. He anticipates the current bear …

Cardano (ADA) pared a big portion of the weekly losses incurred during this week's crypto market rout. ADA's price reached an intraday high of $0.60 on May 13, a day after rebounding from its week-to-date low of $0.38 — a 58% rally. The huge upside retracement appeared in the wake of similar price action in the crypto market with top cryptos Bitcoin (BTC) and Ether (ETH) rebounding by 23% and 25.75% since yesterday's lows. But the sharp ADA recovery does not promise an extended upward continuation, at least according to the three factors discussed below. Stock market crash far from …

Ether (ETH) has taken out the top spot on Twitter as the most hated of five cryptocurrencies studied, while the meme-token Dogecoin (DOGE) is the most liked. The findings emerged from a new report by TRG Datacenters that analyzed a year’s worth of tweets between January 2021 and January 2022 concerning five of the most popular cryptocurrencies to figure out which digital assets were the most emotionally stirring on Twitter. According to the analysis — which looked at Bitcoin (BTC), Cardano (ADA), Dogecoin, Ether and Litecoin (LTC) — Ether was firmly the most negatively associated, with 29% of all tweets …

The crisis with Terra’s stablecoin TerraUSD (UST) and the freefall in Terra’s LUNA token has dented crypto sentiment further. Although Terraform Labs CEO Do Kwon announced a relief plan, the community does not seem too hopeful about the revival. Another hindrance to a quick improvement in sentiment is that the United States Consumer Price Index soared 8.3% from a year ago, outpacing estimates by 0.2%. Although the numbers are a tad bit lower than March’s 8.5% print, the slow deceleration suggests no respite from more tightening by the U.S. Federal Reserve. Although the screen looks scary during capitulation, it also …

Global equity markets extended their decline on May 9 and the S&P 500 fell to a new 52-week low. Bitcoin (BTC) dropped to a new year-to-date low and most major altcoins extended their decline as they tracked the weakness in the stock markets. Data from blockchain analytics firm Glassnode shows that Bitcoin inflows to centralized exchanges have risen to more than 1.7 million coins, the highest since February. This suggests that whales may be dumping their holdings as they anticipate an extended downtrend. Several analysts expect the crypto markets to enter a capitulation phase which generally marks a bottom. Analyst …

Investors across the world are waiting for the outcome of the Federal Open Market Committee meeting on May 4. Although markets expect a 50 basis point rate hike and an announcement by the Fed to start shrinking its balance sheet from June, it is difficult to predict how the markets will react to this trigger. Billionaire investor Paul Tudor Jones, in an interview with CNBC, said that the United States was entering “uncharted territory” as rates were being raised when the Financial Conditions Index was tightening. Tudor Jones warned investors that it was “going to be a very, very negative …

Cardano (ADA) price has been rebounding after falling to its worst levels since February 2021. Meanwhile, a technical fractal suggests that ADA's upside retracement could continue in the coming weeks. Can ADA price extend the recovery? ADA's price has started bouncing after testing the same support area that preceded a 65% bull run in March 2022. Specifically, ADA/USD witnessed a bullish rejection as its price fell below $0.75 on Feb. 24, a move that followed a short period of sideways consolidation. It later broke out of the flat price range, rising to $1.24 on March 26, indicating a strong buying …

The U.S. equity markets opened on a tentative note on May 2 but a minor positive is that the crypto markets led by Bitcoin (BTC) are holding above their immediate support levels. The price action over the next few days will be dictated by the outcome of the Federal Open Markets Committee (FOMC) on May 4. If the Fed springs a negative surprise, the markets could react with a knee-jerk reaction to the downside. On the other hand, if the policy meets market expectations, the equity and crypto markets could attempt a recovery. If history were to repeat itself, Bitcoin …

The U.S. dollar index (DXY) turned down from its 20-year high on April 29 but that has not changed the bearish price action seen in Bitcoin (BTC) and the U.S. equity markets. Equities remain under pressure and this week, Amazon stock saw its biggest intraday drop since 2014 after uncertainty over the U.S. Federal Reserve’s tightening measures placed investor sentiment back into choppy waters. If Bitcoin extends its correction, on-chain analysis platform Whalemap believes that the $25,000 to $27,000 zone may be the best place “to go all-in” on Bitcoin. Long-term investors do not appear to be panicking over the …

The U.S. dollar index (DXY) has risen above the highs created in March 2020 and may next challenge the multi-year highs set in January 2017. Bitcoin’s (BTC) price action is generally inversely connected to DXY. Therefore, unless the dollar reverses its sharp uptrend, a strong recovery in Bitcoin may be difficult. Although Bitcoin has not confirmed a bottom, institutional investors seem to have started their purchases at lower levels. Canada’s Purpose Bitcoin exchange-traded fund added 1,132 BTC to its holdings, according to data analytics platform Coinglass. Behavior analytics resource Santiment also suggested that the crowd’s interest in buying the dip …

Bitcoin (BTC) continues to trade below $40,000 as bears try to flip the level into resistance. The soaring U.S. dollar index (DXY), which is usually inversely related to Bitcoin, favors the sellers. However, it is not all gloom and doom because the Bitcoin bulls seem to be taking clues from the Nasdaq (NDX), which has been hovering close to positive territory. Although risky assets have been on the receiving end for the past few days, Bitcoin hodlers are focusing on the long-term bullish projections and ignoring the short-term weakness. Glassnode data shows that Bitcoin's supply that has not moved for …

Bitcoin (BTC) turned down sharply on April 21, maintaining its tight correlation with the U.S. equity markets, which reversed direction after U.S. Federal Reserve Chair Jerome Powell hinted that a 50 basis point rate hike was “on the table” in May. The selling has continued on April 22 as investors trim risky assets in expectation of an aggressive stance from central banks to curb surging inflation. Veteran trader Peter Brandt said in a tweet recently that the Nasdaq 100 (NDX) was showing a formation similar to the one it had made before plunging in the year 2000. If history repeats …