Bitcoin (BTC) saw its first trip above $20,000 on Oct. 4 as traders expected familiar resistance to cap gains. Multi-week dollar lows fuel Bitcoin bulls Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing prior to the Wall Street open, up over 5% in 24 hours. The pair had shaken off macroeconomic concerns at the start of the week, with trouble at Credit Suisse and the escalating Russia-Ukraine conflict failing to slow performance. Now, short-term analysis focused on a run potentially topping out closer to $21,000 — as was the case late last month, as sell-side pressure at that …

The next Bitcoin (BTC) bull run will have to be much different from historical cryptocurrency rallies in terms of story and utility, Galaxy Digital CEO Mike Novogratz believes. Compared to previous bull runs, the next Bitcoin rally will have to be more focused on utility and less on the story, Novogratz predicted at a panel at the Token2049 crypto event on Wednesday. One of the biggest historical rallies, the Bitcoin bull run of 2017, was mostly about the story, the CEO said, referring to the cryptocurrency’s run from about $1,000 to $20,000 within one year. According to Novogratz, the 2017 …

Bitcoin (BTC) attempted to violate local lows on Sep. 16 as the latest cross-crypto downtrend intensified. No relief for BTC bulls post Merge Data from Cointelegraph Markets Pro and TradingView showed BTC/USD approaching $19,600 at the time of writing, with buyer support just avoiding a further drop. The level had remained in place as an intraday floor as the Ethereum (ETH) Merge concluded, only to spark a sell-off, which took ETH/BTC toward three-week lows. Amid the gloomy mood, traders and analysts showed little inclination to reassess their market outlooks. “I feel confident with the scenario of quick pump to 23k …

A recent report from the Ethereum Enterprise Alliance (EEA) highlights how the Ethereum ecosystem has matured to a point where the network can be used by businesses to solve real-world problems. From supply chain management use cases to payment solutions utilized by companies like Visa and PayPal, the report demonstrates how the Ethereum network has grown to become one of the most valued public blockchains. Although notable, the EEA report also points out that the rapid growth of the Ethereum ecosystem has created a number of challenges for companies, specifically regarding energy consumption, scalability and privacy. For example, the document …

Bitcoin (BTC) could dive another 50% from current levels if the upcoming winter proves a major test for Europe. That was the conclusion of a veteran crypto market analyst this week, with BTC/USD failing to reclaim $20,000 support. In an interview with Cointelegraph, Filbfilb, creator of trading suite Decentrader, forecast a potential BTC price bottom coming in at as low $10,000 in 2022. As the European energy crisis intensifies, risk assets face a major test, he believes, and the extent to which crypto suffers depends considerably on how diplomacy can win out to avert a major emergency into 2023. The …

Bitcoin (BTC) provided a long awaited breakout into Sept. 7 as BTC price action dashed bulls’ hopes of a recovery. $23,000 relief bounce "still likely" says trader Data from Cointelegraph Markets Pro and TradingView captured snap losses for BTC/USD later on Sept. 6, with overnight lows coming in at $18,540 on Bitstamp. The pair put in its lowest levels since June 30, taking liquidity from the July floor and only marginally recovering on the day. Downside price action followed almost a week of sideways movements and volatility was nowhere to be seen as market participants gritted their teeth hoping for …

Bitcoin (BTC) traded in an increasingly narrow range on Sep. 6 as bets piled in over an imminent breakout. Binance futures giant sucks in spent BTC Data from Cointelegraph Markets Pro and TradingView showed BTC/USD staying under $20,000 for a fourth straight day with bulls failing to crack resistance. As many wondered when and how the latest consolidation phase would end, two popular social media traders noticed an ongoing accumulation trend by an unknown large-scale Binance futures trading entity. With retail investors selling, that entity had spent several days soaking up the liquidity, and the result was likely obvious. “Bounce …

Ethereum's native token, Ether (ETH), is not immune to downside risk in September after rallying approximately 90% from its bottom of around $880 in June. Much of the token's upside move is attributed to the Merge, a technical upgrade that would make Ethereum a proof-of-stake (PoS) protocol, slated for Sep. 15. But despite logging impressive gains between June and September, Ether still trades almost 70% below its record high of around $4,950 from November 2021. Therefore, its possibility of heading lower remains on the cards. Here are three Ethereum bearish market indicators that show why more downside is likely. Sell …

Bitcoin (BTC) returned to $20,000 on Sep. 2 amid renewed bets on a “short squeeze” higher. Trader eyes $20,700 short squeeze trigger Data from Cointelegraph Markets Pro and TradingView showed BTC/USD recovering from another dip below the $20,000 mark on the day, continuing rangebound behavior. The pair gave little insight into which direction the next breakout could be, with opinions differing on the surrounding environment. Amid downside pressure on risk assets and a strong U.S. dollar, overall consensus appeared to favor long-term weakness continuing. For popular trader Il Capo of Crypto, however, there was still reason to believe that a …

Bitcoin (BTC) has sealed its worst August performance since 2015 after the monthly candle closed down 13.9%. Weekly candle "doesn't look good" Data from Cointelegraph Markets Pro and TradingView confirms that BTC/USD finished the month at $19,990. A knock to bulls’ efforts to stabilize spot price, the August close was only the second monthly candle finish below the $20,000 mark (depending on the exchange used) since late 2020. While preserving June’s close as the macro low on the monthly chart, the performance led traders into firmly bearish territory. Among them was Crypto Tony, who warned that the stage was set …

Bitcoin (BTC) fell back below $20,000 after the Aug. 30 Wall Street open as data showed hodlers selling at a loss. June lows look increasingly attractive Data from Cointelegraph Markets Pro and TradingView captured the latest dive below the 2017 bull market peak for BTC/USD, with United States equities dropping in step. The S&P 500 and Nasdaq Composite Index lost 1.1% and 1.25% in the first hour, respectively, while BTC/USD shed 2.5% during a single hourly candle. The latest moves came as no surprise to traders already wary of a deeper correction for the largest cryptocurrency. Previously, many had called …

Bitcoin (BTC) analysts were keen to draw fresh price targets on Aug. 27 after the largest cryptocurrency briefly fell below $20,000. Sub-$20,000 BTC price targets stay in place Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $19,945 on Bitstamp the night after hawkish comments from the United States Federal Reserve. Intraday losses for the pair neared 9% and United States equities cratered over the outlook for inflation policy, which looks to increasingly abandon the "soft landing" narrative. "Restoring price stability will take some time and requires using our tools forcefully to bring demand and supply into better balance. …