Bitcoin dropped 56.2% in the second quarter of 2022, according to crypto analytics platform Coinglass. That makes it Bitcoin’s worst quarter since the third quarter of 2011 when BTC price fell by 67%. A large part of the damage was done in the month of June when Bitcoin plunged 37%, the worst monthly drawdown since September 2011. It is not all gloom and doom for crypto investors. On June 29, JPMorgan strategist Nikolaos Panigirtzoglou said that the “Net Leverage metric” suggests that crypto’s deleveraging may be on its last legs. The eagerness of crypto companies with stronger balance sheets to …

Ethereum's native token Ether (ETH) fell on the final trading day of Q2/2022, trading in sync with riskier assets amid persistent fears of higher inflation and rising interest rates. And it could result in further declines heading into Q3. ETH price breakdown underway ETH's price plunged nearly 5% this June 30 to $1,044 following a four-day losing streak. The ETH/USD pair has also broken below its interim rising trendline support, which in conjugation with a horizontal trendline resistance to the upside, constitutes an "ascending triangle" pattern. Ascending triangles are bearish continuation patterns when they occur after a sharp downtrend. Therefore, …

Bitcoin (BTC) lost 3% in an hour and Ether (ETH) drifted toward $1,000 on June 30 as pessimism took control of crypto markets. Traders eye "sweep of lows" for BTC Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $19,224 on Bitstamp during Asian trading, its lowest since June 19. A lack of momentum on upticks combined with a failure to reclaim critical support at the 200-week moving average set the scene for fresh weakness on Bitcoin. The largest cryptocurrency thus dived to the support area defined a day prior by Cointelegraph contributor Michaël van de Poppe. In fresh …

The United States equities markets have given back some of the gains made last week and that has pulled Bitcoin to the psychological support at $20,000. This suggests that investors are nervous to buy risky assets at higher levels. Meanwhile, while speaking to the hosts of the Bankless podcast on June 23, Mark Cuban said that the crypto bear market could end after the price gets so cheap that investors go and start buying or an application with utility is launched that attracts users. Several analysts expect Bitcoin to continue falling and eventually bottom out between $10,000 and $12,000. However, …

Bear markets have historically been challenging to navigate for traders and the conventional set of "reliable" indicators that determine good entry points are unable to predict how long a crypto winter might last. Bitcoin’s (BTC) recent recovery back above the psychologically important price level of $20,000 was a sign to many traders that the bottom was in, but a deeper dive into the data suggests that the short-term relief rally might not be enough proof of a macro-level trend change. Evidence pointing to the need for caution was provided in a recent report by cryptocurrency research firm Delphi Digital, which …

Bitcoin’s (BTC) current bear market is one of the worst, according to a report by on-chain analytics firm Glassnode. This was the first time in history that the Mayer Multiple slipped below the previous cycle’s low. Bitcoin’s fall below $20,000 on June 18 also marked the biggest loss ever booked by investors in a single day at $4.23 billion. Considering the above factors and a few other events, Glassnode believes that the capitulation in Bitcoin may have started. Bitcoin whales seem to have started their purchasing, suggesting that the bottom may be close and on June 25, analytics resource "Game …

Ethereum’s native token Ether (ETH) has declined by more than 35% against Bitcoin (BTC) since December 2021, with a potential to decline further in the coming months. ETH/BTC dynamics The ETH/BTC pair’s bullish trends typically suggest an increasing risk appetite among crypto traders, where speculation is more focused on Ether’s future valuations versus keeping their capital long-term in BTC. Conversely, a bearish ETH/BTC cycle is typically accompanied by a plunge in altcoins and ETH’s decline in market share. As a result, traders seek safety in BTC, showcasing their risk-off sentiment within the crypto industry. Ethereum TVL wipe-out Interest in the …

Bitcoin (BTC) focused on $21,000 into the weekend amid warnings that volatility could still consume the market before June 27. S&P 500 sees second best week of 2022 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD broadly higher in its recent trading range after United States stocks ended the week strong. As noted by markets commentators Holger Zschaepitz, the S&P 500 sealed its second best week of 2022, indicative of modest relief across risk assets. In case you missed it: S&P 500 has gained >6% in 2nd-best week of 2022 as disinflationary forces gather steam & #Fed tightening expectations …

The United States equity markets and the cryptocurrency space are witnessing a relief rally this week. Supporting the rise in risky assets is the U.S. dollar index (DXY), which retreated from its multi-year high. Generally, cryptocurrencies move inverse to the price of the U.S. dollar, but this week's bounce does not necessarily mean that bulls' grip over the market has come to an end. Citing on-chain data, CryptoQuant senior analyst Julio Moreno, said that Bitcoin (BTC) miners may have already capitulated. Historical data suggests that miner capitulation usually precedes market bottoms. Another on-chain metric that indicates that Bitcoin’s price may …

Ethereum's native token, Ether (ETH), gained alongside riskier assets as investors assessed weak U.S. economic data and its potential to cool down rate hike fears. Ether mirrors risk-on recovery ETH's price climbed up to 8.31% on June 24 to $1,225, six days after falling below $880, its lowest level since January 2021. Overall, the upside retracement brought bulls 40% in gains, raising anticipation about an extended recovery in the future while alleviating fears of a "clean fakeout." For instance, independent market analyst "PostyXBT" projected ETH's price to close above $1,300 by the end of June. In contrast, analyst "Wolf" feared …

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 …

Ethereum's token Ether (ETH) could be entering a "bull trap" zone after rebounding back above the $1,000 mark from 18-month lows of $885. Ether price paints a "rising wedge" The first among these indicators is a "rising wedge," a classic bearish reversal setup that forms after the price trends upward inside a range defined by two ascending but converging trendlines. The wedge setup gains further confirmation if the trading volume drops alongside the rising prices. Theoretically, a rising wedge resolves after the price breaks below its lower trendline and eyes a run-down toward the level at length equal to the …