Bitcoin (BTC) headed toward $21,000 on Nov. 4 as bulls attempted to reclaim lost ground. Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it rose overnight to put in new daily highs of $20,683 on Bitstamp. $21,000 sell wall proves ugly While so far a lower high on hourly timeframes compared to the Nov. 1 and 2 spikes, the move served to make up for losses, which came on the back of the Federal Reserve interest rate hike decision. Potential for a push beyond $21,000 was limited, however, thanks to exchange sellers stacking asks at that level. “If …

On this week’s episode of Market Talks, we welcome Jake, also known as “Korean Jew Crypto” on Twitter and the founder of “The Trading Dojo,” a platform that provides quality coaching and education to help traders identify profitable trades on their own. The wide reaching interview covered KJ’s take on how to trade the Federal Open Markets Committee and Consumer Price Index events, along with his views on how Federal Reserve policy is impacting crypto prices. According to KJ: “In regards to what Powell said, and the way the news cycle has been, a few weeks ago I was adamant …

Bitcoin (BTC) has been lingering above $20,000 for the past 9 days, but worsening conditions from traditional markets are causing traders to doubt if the resistance will hold. On Nov. 3, the Bank of England raised interest rates by 75 basis points to 3%, its largest single hike since 1989. The risks of a prolonged recession also increased as the monetary policy committee struggled to contain inflationary pressure. The U.K. monetary authority noted that its most recent growth and inflation projections present a "very challenging" outlook for the economy. The statement from the committee added that "high energy prices and …

Bitcoin (BTC) lingered lower on Nov. 3 as the aftermath of the Federal Reserve interest rate hike subsided. Trading range forms with $20,000 at center Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering just above $20,000 on the day. The pair had seen flash volatility as the Fed hiked 0.75%, fakeout moves up and down triggering liquidations both long and short. Cross-crypto liquidations for the 24 hours to the time of writing totaled $165 million, data from Coinglass confirmed. Bitcoin ultimately finished slightly lower than its pre-Fed level, an area which continued to hold on the day as …

After an impressive 23.7% rally between Oct. 25 and Oct. 31, Binance Chain BNB, has faced a strong rejection from the $330 resistance. Is it possible that the two-day 6% sell-off from the $337.80 peak could indicate that further trouble is ahead? Let’s take a look at what the data shows. Analysts pinned the recent rally to the Oct. 28 news that Binance had invested $500 million in Twitter. However, the network's deposits and decentralized applications metrics have not accompanied the improvement in sentiment. The strong upward movement was largely based on reports that Binance was preparing to assist Twitter …

Polygon (MATIC) emerged as the best-performing asset among the top-ranking cryptocurrencies on Nov. 3 as the market's attention turned to the latest Instagram and JPMorgan announcements. Polygon in high-profile partnerships Notably, Meta, the parent company of Instagram, named Polygon as its initial partner for its upcoming nonfungible token (NFT) tools that allow users to mint, showcase, and sell their digital collectibles on and off the social media platform. Meanwhile, banking giant JPMorgan used Polygon to conduct its first live trade (worth about $71,000) on a public blockchain, marking a concrete step toward integrating cryptocurrencies into the traditional financial frameworks. MATIC, …

The price of Litecoin (LTC) could skyrocket by up to 200% by July 2023, coinciding with its halving event, reducing miner block rewards by 50%. Litecoin has bottomed out? Litecoin has undergone two halvings since its launch in October 2011. The first one occurred in August 2015, which reduced its block reward from 50 LTC to 25 LTC. The second happened in August 2019, which slashed the 25 LTC reward to 12.5 LTC. Interestingly, each Litecoin halving event occurred after a volatile LTC price cycle, namely an enormous price pump, followed by a similarly massive correction, a price bottom, and …

Bitcoin (BTC) sellers may not have capitulated enough, but current trends are “typical” of the end of bear markets. According to data from on-chain analytics firm Glassnode, seller behavior suggests that a macro price bottom is forming. Analyst: Seller exhaustion "near" bear market lows In the latest hint that Bitcoin’s latest bear market is nearing its end, Glassnode has revealed that the network is currently weathering a “perfect storm” of low volatility and high on-chain losses. The Seller Exhaustion Constant, calculated from one-month rolling volatility and on-chain transaction profitability, is thus at long-term lows of its own. As a Twitter …

Australia’s financial services and markets regulator has issued another glaring warning towards issuers of crypto-based financial products, particularly those inappropriately marketing high-risk products. Joe Longo, chair of the Australian Securities and Investment Commission (ASIC) in an opening speech at the ASIC annual forum on Nov. 3 local time said it will use current laws to police “risky and complex products” to protect consumers. He added, “crypto and the crypto ecosystem continue to pose challenges and opportunities for regulators and policymakers alike” saying the risks with crypto investing are “often opaque” with the assets being “highly volatile, inherently risky, and complex.” …

Bitcoin (BTC) saw instant volatility on Nov. 2 as the United States Federal Reserve enacted a fourth consecutive 0.75% interest rate hike. Fed hints more hikes to com Data from Cointelegraph Markets Pro and TradingView showed BTC/USD initially dropping to $20,200 before momentarily rebounding to $20,800. The Fed confirmed the 0.75% hike, which marks its most intensive hiking schedule in forty years, in a statement. “The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the Committee decided to raise the target range for the federal …

The past few months have been painful for Bitcoin (BTC) bulls, but they are not alone. The United States Federal Reserve’s tightening economy policy has led investors to seek protection in cash positions and inflation-protected bonds. Surging inflation and recession signals have caused the S&P 500 stock market index to retreat 19% year-to-date. Even gold — previously considered a safe asset — is suffering the consequences, trading down 20% from its all-time high. The increasing costs of a home mortgage added fear that a housing crisis might be underway. Since the FED started raising interest rates in March, borrowing costs …

Bitcoin (BTC) and the rest of the crypto market have been in a bear market for almost a year. The top cryptocurrency has seen its market valuation plummet by more than $900 billion in the said period, with macro fundamentals suggesting more pain ahead. Another bear cycle produces more BTC hodlers But the duration of Bitcoin's bear market has coincided with a substantial rise in the percentage of BTC's total supply held by investors for at least six months to one year. Notably, the percentage of coins held for at least a year has risen from nearly 54% on Oct. …