Bitcoin (BTC) only needs one more key on-chain signal for a classic bull market to begin, analyst David Puell says. In a tweet on Dec. 17, the Puell Multiple creator argued that the stage is almost set for the end of the BTC price bear market. Puell: Bitcoin network activity "underwhelming" Despite many calling for new BTC/USD lows of $12,000 or less this cycle, not everyone is wholly bearish on the outlook for Bitcoin. For Puell, two essential on-chain phenomena necessary for BTC price recovery are already in evidence. Long-term holders (LTHs) are resisting the urge to sell despite Bitcoin …

Crypto markets threw a nice head fake this week by rallying into resistance on a “positive” Consumer Price Index (CPI) report, before retracing the majority of those gains right after Federal Reserve Chair Jerome Powell took on a surprisingly hawkish tone during his post-rate-hike presser. The Fed hiked interest rates by 0.50%, which was well within the expectation of most market participants, but the eyebrow-raiser was the Federal Open Market Committee consensus that rates would need to reach the 5%–5.5%+ range in order to hopefully achieve the Fed’s 2% inflation target. This basically threw cold water on traders’ lusty dreams …

The total cryptocurrency market capitalization dropped 8.1% in the past two days after failing to break the $880 billion resistance on Dec. 14. The rejection did not invalidate the 4-week-long ascending channel, but a weekly close below $825 billion will confirm a shift to the lower band and reduce the support level to $790 billion. The overall investor sentiment toward the market remains bearish, and year-to-date losses amount to 66%. Despite this, Bitcoin (BTC) price dropped a mere 2% on the week, down to the $16,800 level at 17:00 UTC on Dec. 16. A far different scenario emerged for altcoins …

Ether (ETH) price is down on Dec. 16 and the pre-FOMC rally to $1,350 was obliterated after Federal Reserve chair Jerome Powell issued hawkish statements following a 0.50% hike in interest rates. The Ether sell-off follows a market-wide decline that has sent Ethereum network fees plummeting by 39.90% in the past 30-days. The total value locked in Ethereum-based smart contracts also decreased by decentralized finance by 4.49% in 24-hours. Following the FTX exchange scandal, regulators are attempting to fast-track new regulations on the cryptocurrency sector. While some analysts believe Ethereum still possesses multiple bullish catalysts that warrant investing in the …

Bitcoin (BTC) looked set to ditch $17,000 after the Dec. 16 Wall Street open as United States equities continued to fall. Analyst: $240BNB "has nothing but air below it" Data from Cointelegraph Markets Pro and TradingView tracked new intraday lows of $16,743 for BTC/USD on Bitstamp. The pair had abruptly dived nearly 3% earlier in the day, compounding losses which immediately followed one-month highs. Ongoing concerns over largest global exchange Binance pervaded the mood, these coming despite the best efforts of CEO, Changpeng Zhao, to dispel what he called “FUD.” As Cointelegraph reported, longtime crypto traders were similarly skeptical of …

Bitcoin (BTC) fell below $17,000 on Dec. 16 as traders warned of overreaction to “FUD” involving exchange Binance and others. Binance "FUD" fuels bearish BTC moves Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it put in multi-day lows of $16,928 on Bitstamp. The pair retraced its entire run to one-month highs courtesy of the latest macroeconomic data and policy update from the United States. Amid ongoing concerns over the solvency of largest global exchange Binance, market sentiment showed what traders argued was a clear case of cold feet. The evidence, they suggested, simply did not stack up …

As the coldest days of the crypto winter set in, investors’ speculative interest in the crypto market has fallen to pre-2021 levels, impairing the chance of a substantial directional price move. However, there’s a possibility of a bear market rally akin to the July through August 2022 uptrend. The market enters a state of limbo The FTX implosion impacted over 5 million users globally and adversely affected numerous crypto companies that were exposed to it. The industry is currently in a recovery mode and Cumberland, a U.S.-based crypto market broker, recently echoed this narrative in a tweet. The firm noted …

Bitcoin (BTC) is trending down after hitting one-month highs around the latest macroeconomic data and policy update from the United States. Having topped out at around $18,370 on Bitstamp on Dec. 14, BTC/USD is now giving back its gains, leading traders to eye where the next reversal may occur. Opinions differ — some warn that support levels for bulls to hold are already tumbling, while others believe that recent events are just another dot on the path to much lower levels. Cointelegraph takes a look at what some popular commentators are looking next for when it comes to short-term BTC …

On Dec. 14, Bitcoin (BTC) broke above $18,000 for the first time in 34 days, marking a 16.5% gain from the $15,500 low on Nov. 21. The move followed a 3% gain in the S&P 500 futures in 3 days, which reclaimed the critical 4,000 points support. While BTC price started the day in favor of bulls, investors anxiously awaited the U.S. Federal Reserve Committee's decision on interest rates, along with Fed chair Jerome Powell's remarks. The subsequent 0.50% hike and Powell’s explanation of why the Fed would stay the course of its current policy gave investors good reason to …

On Dec. 14, Bitcoin (BTC) price hit a 1-month high and saw a brief resurgence in bullish momentum, but the Federal Reserve’s Federal Open Market Committee (FOMC) hawkish report and comments from Fed chair Jerome Powell sent BTC to an intraday low at $17,659. Stocks and Bitcoin started the day slightly up but quickly retracted on the FOMC report. To date, Bitcoin price remains closely correlated to equities and a majority of investors have concerns about the impact of further rate increases in the future. Rising interest rates and hawkish talk from Powell impact BTC price While the Consumer Price …

What do the cryptocurrency and porn industries have in common? As it turns out, both are frequent targets of the traditional financial system, which has been known to ban the accounts of both crypto traders and sex workers. On this week’s episode of the newly launched podcast The Agenda, Cointelegraph senior copy editor Jonathan DeYoung and head of markets Ray Salmond speak to Allie Rae, an adult content creator and CEO of WetSpace — a crypto-focused alternative to OnlyFans. Rae first exploded into the mainstream when she lost her job as an ICU nurse after her colleagues discovered her hobby …

Bitcoin (BTC) set new one-month highs on the Dec. 14 Wall Street open on the day of key events for the United States Federal Reserve. Bitcoin bullish with Ustocks into FOMC Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $18,126 on Bitstamp, beating the $18,106 high from the day prior. U.S. stocks edged higher as markets eagerly awaited feedback from the Fed after the November Consumer Price Index (CPI) print showed inflation slowing beyond expectations. Dec. 14 was set to see a decision on rate hikes for the month from the Federal Open Market Committee (FOMC), together with …