The cost to purchase one Bitcoin (BTC) has dropped almost 10% in the last seven days and has been eyeing extended declines as it drops below $40,000, its interim psychological support, on Jan. 10. Nonetheless, the losses suffered by Bitcoin still appear lesser than some of its top crypto rivals' performances. For instance, Cardano (ADA), the seventh-largest cryptocurrency by market valuation, has dropped by nearly 11% to around $1.15 in the last seven days. Similarly, XRP, the eighth-largest by market capitalization, has dipped by around 10% to nearly $0.75 in the same period. Meanwhile, some cryptocurrencies listed among the top …

Bitcoin (BTC) may end up falling to as low as $30,000 if the U.S. inflation data to be released on Wednesday comes any higher than forecasted, warns Alex Krüger, founder of Aike Capital, a New York-based asset management firm. The market expects the widely-followed consumer price index (CPI) to rise 7.1% for the year through December and 0.4% month-over-month. This surge highlights why the U.S. Federal Reserve officials have been rooting for a faster normalization of their monetary policy than anticipated earlier. Further supporting their preparation is a normalizing labor market, including a rise in income and falling unemployment claims, …

Bitcoin (BTC) formed a trading pattern on Jan. 8 that is widely watched by traditional chartists for its ability to anticipate further losses. In detail, the cryptocurrency's 50-day exponential moving average (50-day EMA) fell below its 200-day exponential moving average (200-day EMA), forming a so-called "death cross." The pattern appeared as Bitcoin underwent a rough ride in the previous two months, falling over 40% from its record high of $69,000. Death cross history Previous death crosses were insignificant to Bitcoin over the past two years. For instance, a 50-200-day EMA bearish crossover in March 2020 appeared after the BTC price …

Within months after its launch in April 2021, Bored Ape Yacht Club (BAYC) has become one of the main reasons Wall Street should take the emerging nonfungible token (NFT) market seriously, thanks to its recent sales turnover of over $1 billion. Celebrities ape into BAYC For the uninitiated, BAYC is a collection of 10,000 cartoons of anthropomorphic apes with stylish clothes and disreputable expressions. Each ape is practically an image file that should be worthless in a sane world. Nonetheless, they have been managing to fetch astonishing sums, sometimes from some of the world's most renowned celebrities. For instance, Jimmy …

Ethereum's native token Ether (ETH) plunged sharply hours after the U.S. Federal Reserve released the minutes of their December meeting, showing that they eye a faster timetable for hiking interest rates in 2022. The minutes showed that the Federal Open Market Committee (FOMC) is in favor of raising short-term rates "sooner or at a faster pace than participants had earlier anticipated." According to the CME Group, trading in the interest-rate futures market showed a two-thirds possibility of the first increase in March. Ether turned lower after the minutes were released, dropping by over 13.50% to as low as $3,300. Its …

Internet Computer (ICP) has entered 2022 with a bang. The ICP price rose by over 56% in the first five days of the new year, reaching a 30-day high of $38 on Jan. 5. Its massive upside move accompanied a spike in trading volumes, underscoring a strong and healthy bullish sentiment for now. At the center of ICP's recent price rally was a flurry of optimistic news. That includes Binance's decision this Tuesday to list a financial instrument that would enable traders to directly swap ICP to/from Ethereum's native token Ether (ETH) and the launch of Terabethia, a cross-blockchain bridge, …

The prospects of Ren (REN) continuing its ongoing rebound to fresh highs appear slim as a classic bearish reversal pattern begins to emerge. Dubbed head and shoulders, the setup appears when the price forms three peaks, with the middle peak (called the head) longer than the other two peaks described as the left and right shoulders. The bottoms of these peaks are supported by a neckline. The pattern comes into play primarily when the price breaks below the neckline in a correction that follows the formation of the right shoulder. That prompts traders to open short entries below the neckline, …

Ethereum's native token Ether (ETH) has plunged by more than 20% after establishing its record high at around $4,867 on Nov. 10, 2021. Nonetheless, the sharp price pullback does not mean ETH can't pursue a new record high in the next few months, as several widely-tracked technical, macroeconomic, and on-chain indicators suggest. One of these indicators envisions Ether's price reaching $5,000 in the first quarter of 2022 while others look are poised to support the bullish bias. ETH price painting falling wedge Ether's recent price correction is painting a potential classic bullish reversal pattern known as "falling wedge." In detail, …

Yearn Finance (YFI) looks poised for a price correction after rising five days in a row to approach $42,000. Notably, an absence of enough buying volume coupled with overbought risks is behind the bearish outlook. The YFI price rally so far YFI price surged by a little over 47% in five days to $41,970 as traders rotated capital out of "top-cap" cryptocurrencies like Bitcoin (BTC) and Ether (ETH) and looked for short-term opportunities in the altcoin market. #DeFi assets are showing some nice signs of growth to kick off 2022. $YFI, $UNI, and $AAVE are all ticking up nicely thus …

Bitcoin (BTC) may be down over 30% from its record high of $69,000, but it has emerged as one of the best-performing financial assets in 2021. BTC has bested the U.S. benchmark index, the S&P 500, and the gold. Arcane Research noted in its new report that Bitcoin's year-to-date (YTD) performance came out to be nearly 73%. In comparison, the S&P 500 index surged 28%, and gold dropped by 7% in the same period, which marks the third year that Bitcoin has outperformed. At the core of Bitcoin's extremely bullish performance was higher inflation. The U.S. consumer price index (CPI) …

As the new year rapidly approaches, people are thinking about what they can do to make 2022 even better than 2021. With so much anticipation for cryptocurrency in the coming year from government policymakers and market action, it’s no wonder that some in the crypto industry have ambitious resolutions for the new year with how they will help to shape the industry for the better. National governments have taken steps to increase the global adoption of blockchain technology right up to the end of 2021. Late in the year, governments from Australia, Kazakhstan, Brazil and the Eastern Caribbean launched, or …

Avalanche (AVAX) strengthened its case for a potential upside run towards $160 in the coming sessions as it broke out of a classic bullish pattern earlier this week. Dubbed "bull flag," the pattern emerges when the price consolidates lower/sideways between two parallel trendlines (flag) after undergoing a strong upside move (flagpole). Later, in theory, the price breaks out of the channel range to continue the uptrend and tends to rise by as much as the flagpole's height. AVAX went through a similar price trajectory across the last 30 days, containing a roughly 100% flagpole rally to nearly $150, followed by …