Bitcoin (BTC) plummeted close to the crucial support of $20,000 as traders panicked and dumped their holdings, fearing an aggressive rate hike by the United States Federal Reserve on June 15. Another reason for the sell-off could be fears of possible contagion if lending platform Celsius and crypto venture capital firm Three Arrows Capital (3AC) go belly up. Data from on-chain analytics platform CryptoQuant showed 24-hour exchange inflows of 59,376 Bitcoin on June 14, the highest inflows since November 30, 2018. The Bitcoin miners also joined other investors in sending Bitcoin to the exchanges. The Bitcoin Miners to Exchange flow …

Ether (ETH) price nosedived below $1,100 in the early hours of June 14 to prices not seen since January 2021. The downside move marks a 78% correction since the $4,870 all-time high on Nov. 10, 2021. More importantly, Ether has underperformed Bitcoin (BTC) by 33% between May 10 and June 14, 2022, and the last time a similar event happened was mid-2021. Even though Bitcoin oscillated in a narrow range two weeks before the 0.082 ETH/BTC peak, this period marked the “DeFi Summer” peak when the Ethereum network’s total value locked (TVL) catapulted to $93 billion from $42 billion two …

Ethereum's native token Ether (ETH) is showing signs of bottoming out as ETH price bounced off a key support zone. Notably, ETH price is now holding above the key support level of the 200-week simple moving average (SMA) near $1,196. The 200-week SMA support seems purely psychological, partly due to its ability to serve as bottom levels in the previous Bitcoin bear markets. Independent market analyst "Bluntz" argues that the curvy level would also serve as a strong price floor for Ether where accumulation is likely. He notes: "BTC has bottomed 4x at the 200wma dating back to 2014. [Probably] …

Bitcoin (BTC) came within $1,000 of its previous cycle all-time highs on June 14 as liquidations mounted across crypto markets. Bitcoin price hits 18-month lows Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $20,816, on Bitstamp, its lowest since the week of December 14, 2020. A sell-off that began before the weekend intensified after the June 13 Wall Street opening bell, with Bitcoin and altcoins falling in step with United States equities. The S&P 500 finished the day down 3.9%, while the Nasdaq Composite Index shed 4.7% ahead of key comments from the U.S. Federal Reserve on its …

Institutional investors offloaded $101.5 million worth of digital asset products last week in “anticipation of hawkish monetary policy” from the United States Federal Reserve, according to CoinShares. U.S. inflation rates hit 8.6% year-on-year at the end of May, marking a return to levels not seen since 1981. As a result, the market is expecting the Fed to take considerable action to reel in inflation, with some traders pricing in three more 0.5% rate hikes by October. According to the latest edition of CoinShares’ weekly “Digital Asset Fund Flows” report, the outflows between June 6 and June 10 were primarily led …

The United States equities markets extended their decline to start the week on June 13. The S&P 500 hit a new year-to-date low and dipped into bear market territory, falling more than 20% from its all-time high made on Jan. 4. The cryptocurrency markets are tracking the equities markets lower and the selling pressure further intensified due to the rumored liquidity crisis of major lending platform Celsius and traders possibly selling positions to meet margin calls. This pulled the total crypto market capitalization below $1 trillion. The sharp declines have led some analysts to project extremely bearish targets. While anything …

Ethereum's native token Ether (ETH) fell to as low as $950 on Uniswap—a decentralized crypto exchange— this June 13, about 20% lower than its spot rate across other exchanges. Over $130M ETH sold in six hours The incident happened at around 3:00 am UTC after a whale dumped 65,000 ETH for multiple "stablecoins," including USD Coin (USDC), Tether (USDT) and Dai (DAI). A piece of evidence noted that the whale sold its ETH holdings to pay off nearly $73 million worth of debt at Oasis.app, a DeFi lending platform. The duration of the sell-off saw ETH's liquidation price dropping from …

Usually, bear markets bring about a feeling of uncertainty in any investor. Even more so for a newcomer, for whom it can feel like the end of the world. It may even be common knowledge that during bull cycles, investors are sure of making gains. Whereas in bear markets such as this, an unimaginable amount of pessimism sets in. The co-founder and strategic lead at the Kylin Network, Dylan Dewdney, told Cointelegraph that the two major mistakes that investors make while feeling anxious are “One, over-investing and two, not investing with conviction.” “You need to find the sweetspot where you …

Bitcoin (BTC) faced continued selling pressure before the June 13 Wall Street open as Ether (ETH) revisited multiyear lows. Bitcoin battles for $24,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD eclipsing its 10-month lows set in mid-May. The largest cryptocurrency faced bearish triggers on multiple fronts, these coming from both within and beyond the crypto sphere. Fintech protocol Celsius appeared on the brink of meltdown after operations were halted, turning billions of dollars in collateral into new risk for crypto markets. In an event ironically similar to that which caused the May rout, Bitcoin and altcoins kept falling …

Ethereum’s native token Ether (ETH) entered its “oversold” territory this June 12, for the first time since November 2018, according to its weekly relative strength index (RSI). This is the last time $ETH went oversold on the weekly (hasn’t confirmed here yet). I had no followers, but macro bottom ticked it. Note, you can push way lower on weekly rsi, not trying to catch a bottom. https://t.co/kLCynTKTcS — The Wolf Of All Streets (@scottmelker) June 12, 2022 ETH eyes oversold bounce Traditional analysts consider an asset to be excessively sold after its RSI reading fall below 30. Furthermore, they also …

Bitcoin (BTC) saw further losses on June 12 as thin weekend trading volumes fueled an ongoing sell-off. Analyst likens risk asset 'pump' to 1929 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting lows of $27,150 on its sixth straight day of downside. With hours to go until the weekly close, the pair was in danger of resuming the losing streak, which had previously seen a record nine weeks of red candles in a row. To avoid that outcome and put in a second “green” close, BTC/USD needed to gain over $2,000 from the current spot price, which at …

The United States equities markets tumbled on June 10 after the Consumer Price Index (CPI) report showed inflation soaring 8.6% from a year ago, the highest increase since 1981. The latest figures show that talks of inflation having peaked were premature and according to Bloomberg, investors are pricing in the key interest rate of 3% by the end of the year. Continuing its tight correlation with the S&P 500, Bitcoin (BTC) dipped below $30,000 on June 10. Analysts are still divided about the near-term price action but Fundstrat co-founder Tom Lee said in an interview with CNBC that Bitcoin may …