Bitcoin (BTC) continued consolidating into the Oct. 30 weekly close as concerns over a deeper retracement became vocal. Trader avoids new longs below $21,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling levels just below $21,000 on the day. Weekend trading had produced an early return above the $21,000 mark, this short lived as Bitcoin bulls failed to offer the volume to sustain higher levels. Now, popular trader and analyst Il Capo of Crypto sensed a change of direction was ultimately due for Bitcoin and altcoins alike. Altcoins themselves had also performed strongly through the weekend, notably led …

The Dogecoin (DOGE) price rally extended further on Oct. 29 in hopes that the cryptocurrency would get a major boost from Elon Musk's Twitter acquisition. Elon Musk boosts Dogecoin price again Dogecoin price jumped by nearly 75% to reach $0.146 on Oct. 29, the biggest daily gain since April 2021. Notably, the meme-coin's massive intraday rally came as a part of a broader uptrend that started earlier this week on Oct. 25. In total, DOGE's price gained 150% during the Oct. 25-29 price rally. The surge was also accompanied by a decent increase in its daily trading volumes. That coincided …

Bitcoin (BTC) asleep for up to a decade is waking up this week as BTC price action sees six-week highs. Data from on-chain analytics firm Glassnode shows some of the oldest “dormant” bitcoins returning to circulation. BTC trends out of hibernation As BTC/USD stages something of a comeback in the second half of October, hodlers are changing their behavior after a year-long bear market. According to Glassnode, the number of bitcoins previous stationary in their wallet for 7-10 years but not active again reached a one-month high on Oct. 29. This is in fact the latest in a series of …

Bitcoin (BTC) attempted to retake $21,000 on Oct. 29 as weekend trading began on a strong footing. Dollar lurks as BTC price rebounds Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it rebounded overnight to local highs of $21,078 on Bitstamp — enough to clinch new six-week highs. The pair had seen a consolidatory phase ensue after its first trip to the $21,000 mark, the first time it had traded above $21,000 since Sep. 13. The subsequent retracement was modest in character, Bitcoin not even testing $20,000 before reversing higher once more. The end of the Wall Street …

Welcome readers, and thanks for subscribing! The Altcoin Roundup newsletter is now authored by Cointelegraph’s resident newsletter writer Big Smokey. In the next few weeks, this newsletter will be renamed Crypto Market Musings, a weekly newsletter that provides ahead-of-the-curve analysis and tracks emerging trends in the crypto market. The publication date of the newsletter will remain the same, and the content will still place a heavy emphasis on the technical and fundamental analysis of cryptocurrencies from a more macro perspective in order to identify key shifts in investor sentiment and market structure. We hope you enjoy it! Time to go …

The shift of the Ethereum (ETH) blockchain to a proof-of-stake (PoS) protocol opened new opportunities for developers and investors to explore, including the burning of Ether. Now, Ethereum PoS transactions are validated through staking rather than mining. Staking impacts the supply and price dynamics of Ether in ways that are different from mining. Staking is expected to create deflationary pressure on Ether as opposed to mining that induces inflationary pressure. The increase in the total amount of funds locked in Ethereum contracts could also push its price up in the long term. This is because it affects one of the …

On Oct. 28, NFT Steez, a bi-weekly Twitter Spaces hosted by Alyssa Expósito and Ray Salmond, met with Web3 content writer, Julie Plavnik to discuss the importance of self-sovereignty while building a digital identity in Web3. Plavnik references author Gavin Wood when describing Web3 and says that “communication” is a core tenant in the subsequent iteration of the internet. “Web3 is the communication of encrypted channels between decentralized identities,” Plavnik affirms. According to Plavnik, the emerging concept of Web3 placed a magnifying glass on user data and ownership, especially concerning the creator economy. Plavnik describes the creator economy as a …

Bitcoin (BTC) climbed back to $20,500 at the Oct. 28 Wall Street open as United States equities sought a stronger finish to the week. Bets of $20,000 support fail increas Data from Cointelegraph Markets Pro and TradingView showed BTC/USD capitalizing on renewed optimism as markets began trading. The atmosphere was volatile after tech stocks suffered a major out-of-hours rout overnight, Bitcoin managing to avoid sustaining knock-on losses to the same extent. At the time of writing, the S&P 500 and Nasdaq Composite Index were both up around 1.3%. “In this current range bound phase after a prolonged downtrend,” popular trader …

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 …

Ethereum (ETH) is setting liquidation records this week as a comparatively modest price uptick reveals how bearish the market has become. Data from on-chain analytics platform CryptoQuant confirmed that U.S. dollar-denominated short liquidations hit a new all-time high on Oct. 25. Two days, half a billion dollars of ETH shorts It is not just Bitcoin (BTC) causing bears severe pain this week — data from exchanges also shows that Ethereum shorters have suffered heavy losses. ETH/USD delivered fairly impressive gains on Oct. 25-26, rising from lows of $1,337 to highs of $1,593 on Bitstamp before retracing, according to data from …

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 …