Bitcoin (BTC) avoided losses as United States equities dived on the July 14 Wall Street open, but traders remained nervous. Analyst: "No way" Bitcoin bottomed at $17,500 Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it lingered around $20,000 on the day. Wall Street opened with losses, the S&P 500 and Nasdaq Composite Index both down around 1.8% at the time of writing. Bitcoin nonetheless managed to hold its own as the largest cryptocurrency's correlation to stocks fell to its lowest levels of 2022 so far. That said, few were willing to say that the worst was over …

Bitcoin (BTC) found a new focus at just under $20,000 on July 14 as United States dollar strength hammered out yet another two-decade high. DXY moves bring yen, euro into focus Data from Cointelegraph Markets Pro and TradingView showed BTC/USD rebounding from lows sparked by a fresh 40-year high for U.S. inflation as per the Consumer Price Index (CPI). After briefly dipping under $19,000, the pair took a flight above $20,000 before consolidating immediately below that psychologically significant level. For on-chain analytics resource Material Indicators, it was now “do or die” for BTC price action when it came to a …

Bitcoin (BTC) headed for $20,000 after the July 11 Wall Street open amid fresh warnings to “prepare for new lows.” $20,300 eyed as next support zone to hold Data from Cointelegraph Markets Pro and TradingView showed BTC/USD failing to recover losses that had immediately followed the weekly close at $20,850. The pair had nonetheless locked in its best week’s gains since March, these nonetheless apt to unravel as market uncertainty lingered. For on-chain analytics resource Material Indicators, the level to watch was a trendline acting as support since June. “BTC fell back below the 21-ay Moving Average after the Sunday …

Bitcoin (BTC) has not been this good value since it cost $1,130, one analyst argues as BTC offers a “compelling” risk/reward ratio. In a Twitter thread on July 7, Jurrien Timmer, director of global macro at asset manager Fidelity Investments, simply described $20,000 Bitcoin as “cheap.” Timmer: “In other words, Bitcoin is cheap” While fears that crypto markets could suffer further drawdowns this year remain, some believe that current Bitcoin price levels offer the kind of value for money not seen in years. Analyzing the BTC price versus the number of non-zero addresses — wallets with a positive balance — …

Bitcoin (BTC) is on track for its biggest weekly gains since March, but not everyone is convinced that good times will last. Crypto sentiment highest since early May Data from Cointelegraph Markets Pro and TradingView shows that at the time of writing, BTC/USD is up over $2,000 this week — nearly 12%. After spending several days trapped in a narrow range, the pair managed to exit to the upside, the gains accelerating overnight into July 8 to see highs of $22,401 on Bitstamp. #bitcoin nicely bounced back to 200WMA and Realized Price levels (both at ~$22K). Let's see if it …

Bitcoin (BTC) is due to give a definitive signal that a macro bottom is in this month, one analyst has concluded. In a Twitter thread on July 6, popular commentator Wolf eyed key moving average data as proof that BTC price action will not be going lower. Key chart crossover eyed as end to bear market losses Amid repeated calls for BTC/USD to revisit levels not seen since Q4 2020, one simple historical trend is now saying that the pair has already seen its latest macro lows. Analyzing the 3-day chart, Wolf argued that the 100-day moving average (MA) crossing …

Some in the crypto community believe the market bottom may now be in after CNBC host Jim Cramer, given his track record, said there was “no real value in crypto” and predicted the market would tumble further. Cramer is known for giving his investment expertise as the host of CNBC’s “Mad Money” but has developed a reputation in the crypto community for giving stock and crypto tips that generally end up being widely off the mark or the complete opposite of his prediction. His predictions, along with his on-again-off-again love-hate relationship with crypto, have become a popular meme among the …

Bitcoin (BTC) needs to go lower before putting in a macro bottom, one of the market’s most accurate indicators shows. Data from sources including on-chain analytics firm Glassnode shows Bitcoin’s MVRV-Z Score is almost — but not quite — signaling a price reversal. MVRV-Z Score inches towards macro bottom Amid ongoing debate whether if or when BTC/USD will go beyond its current macro lows of $17,600, new figures suggest that the market easily has further to fall. As noted by Filbfilb, co-founder of trading suite DecenTrader, the MVRV-Z score is now in its classic green zone but not yet at …

Given Ethereum’s dominance coupled with the current crypto bear market, it remains questionable if L1s will flourish. This was recently highlighted in a Chainalsys blog post entitled “New layer 1 blockchains are expanding the DeFi ecosystem, but no ETH killers yet.” Ethan McMahon, an economist at Chainalysis, told Cointelegraph that Chainalysis published this report to raise awareness for the current L1 ecosystem: While Ethereum allowed decentralized finance (DeFi) to flourish in 2020, a number of layer-1 blockchains (L1s) have since been developed to address the challenges associated with the network. For instance, as Ethereum’s proof-of-work (PoW) consensus mechanism and high …

The historic deleveraging of the cryptocurrency market could be coming to an end, which could signal the close of the worst of the bear market, according to a JPMorgan analyst. In a Wednesday note, JPMorgan strategist Nikolaos Panigirtzoglou highlighted the increased willingness of firms to bail out companies and a healthy pace of venture capital funding in May and June as the basis for his optimism. He said key indicators support the assessment: “Indicators like our Net Leverage metric suggest that deleveraging is already well advanced.” The deleveraging of major crypto firms, where their assets have been sold either willingly, …

Bitcoin (BTC) headed toward the upper end of its trading range on June 24 as optimism crept back into traders’ forecasts. Bitcoin price "ready for $23,000" Data from Cointelegraph Markets Pro and TradingView tracked a broadly stable BTC/USD as it hit local highs of $21,425 on Bitstamp. The pair had shifted higher since wicking below the $20,000 on June 22, with United States equities similarly cool going into the weekend. “Bitcoin ready for $23,000,” Cointelegraph contributor Michaël van de Poppe announced to Twitter followers on the day. At just above the crucial 200-week moving average (WMA), $23,000 formed a popular …

Bitcoin (BTC) held steady at the June 20 Wall Street open as nervous traders waited for a short-term trend decision. Trader flags Bitcoin "macro bottoming period" Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing to just shy of $21,000 at the time of writing, a three-day high. The weekend had spooked the majority of the market and liquidated speculators with a trip to $17,600, marking Bitcoin’s lowest levels since November 2020. Now, with United States equities cool at the start of the week, comparative calm characterized the largest cryptocurrency. “Nice reaction off of the bottom of our 16K–20K …