Bitcoin (BTC) continued its pattern of sudden price spikes on Nov. 24 as sudden momentum produced a brief trip above $57,400. Analyst: 2021 still conforms to bullish pattern Data from Cointelegraph Markets Pro and TradingView showed BTC/USD making skittish moves within a familiar range during Wednesday. The pair reached highs of $57,875 on Bitstamp over the past 24 hours, these failing to hold for long as buyer support still waned closer to $60,000 resistance. Amid an overall uninspiring market environment, some took the opportunity to highlight ongoing similarities between 2021 and previous bull market years. Popular Twitter account TechDev focused …

Bitcoin (BTC) continues to be pinned down below $60,000 indicating that higher levels are attracting selling from traders. The S&P 500 made a new all-time high today on reports that U.S. President Joe Biden renominated Jerome Powell to serve a second term as the Federal Reserve chair. This news also boosted the U.S. dollar currency index (DXY) to its highest level since July 2020. Usually, sharp gains in the DXY are inversely correlated with Bitcoin and the same can be seen in November of this year as well. While the DXY is up about 2.3% in November, Bitcoin is down …

Ethereum's native asset Ether (ETH) may rebound by nearly 60% in the coming sessions as the bulls pin hopes on a classic bullish continuation pattern. Prices may rise to or above $6,500 from their current levels near $4,100 after completing a "cup and handle" formation, hinted Matthew Hyland, an independent on-chain analyst, in a tweet published Monday. A perfect Cup and Handle retest Hyland's chart shows Ether returning to the old point of resistance of its previous Cup and Handle pattern (the yellow horizontal line in the chart below), in a corrective move that started after the cryptocurrency reached its …

CEO and founder of hedge fund Three Arrows Capital (3AC) Zhu Su tweeted that he has “abandoned Ethereum despite supporting it in the past,” before making a U-turn on the statement. In the Nov. 21 thread, Su claimed that Ethereum culture “suffers massively from the Founders’ Dilemma,” and that “everyone is already far too rich to remember what they originally set out to do.” Yes I have abandoned Ethereum despite supporting it in the past. Yes Ethereum has abandoned its users despite supporting them in the past. The idea of sitting around jerking off watching the burn and concocting purity …

Bitcoin (BTC) hovered near $59,000 as Nov. 21 came to a close after avoiding a retest of its recent lows. BTC challenges $60,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD almost hitting $60,000 before consolidating in a new higher range after sudden gains Saturday evening. The pair had hit lows of $55,650 during the week, these marking its lowest point in over a month, but further retests failed to materialize as sentiment improved. Adopting a calmer perspective into the weekly close, analysts thus looked to the long term to understand the overall health of the market. "Since breaking …

Bitcoin (BTC) dropped below $56,000 on Nov. 19, completing a near 20% correction from the all-time high. The Crypto Fear & Greed Index, which remained in the greed zone for most of the past two months, has plummeted into the fear category with a reading of 34. Cryptocurrency research firm Delphi Digital said in a recent report that the sell-off in Bitcoin was “largely driven by a wave of liquidations rather than a fundamental shift in narrative,” and the analysts expect the drawdown to be “relatively short-lived.” The recent correction does not seem to have shaken the long-term holders. According …

Bitcoin price dropped to fresh lows today and the brief visit to the $56,000 level resulted in a sharp sell-off in Ether and altcoins. Data from Cointelegraph Markets Pro and TradingView shows that support at $60,000 was breached early on in the U.S. trading session and this allowed bears to briefly take control of the market. Here’s what analysts have to say about today's price action and whether or not traders should be concerned about additional downside. Major drawdowns "will be relatively shortlived" According to a recent report from cryptocurrency research firm Delphi Digital, “the initial sell-off was largely driven …

Ether's (ETH) 330% year-to-date gain has been largely fueled by the growth of decentralized finance and the explosion of non-fungible tokens. Proof of this comes from OpenSea, the largest NFT marketplace, surpassing the impressive mark of $10 billion in accumulated trading volume. However, traders worry that the 15% correction that followed the $4,870 all-time high on Nov. 10 could indicate that a larger bearish movement is in place. The rupture of the 55-day ascending channel reinforces this thesis and Friday's $550 million Ether options expiry will likely favor bears. Ethereum's $86 billion total value locked in smart contract contracts, represents …

Avalanche (AVAX) rose to a new price high on Nov. 18 and posted weekly gains after its developer, Ava Labs, entered a partnership with "Big Four" accountant firm Deloitte. The AVAX price reached a little over $110 after rising circa 16% week-to-date (WTD), with its circulated market cap hitting $23.76 billion, almost 0.93% of the total crypto market cap. In contrast, AVAX's top rival tokens, including Bitcoin (BTC) and Ether (ETH), fell by over 13% and 12.50% WTD, respectively. AVAX adoption FOMO AVAX picked its bullish cues from Deloitte's decision to use the Avalanche blockchain for building a disaster relief …

Join Cointelegraph host and analyst Benton Yaun alongside resident market experts Jordan Finneseth and Marcel Pechman as they break down the latest news in the markets. Here’s what to expect in this week’s markets news breakdown: With Bitcoin (BTC) retesting major support and resistance zones, some analysts believe this might be a good time to stack more BTC before the next uptrend. With Ether (ETH) dropping 10% to about $4,100 due to the ongoing market correction led by Bitcoin, is there an increased chance it could fall below the $4,000 mark? Much to the delight of the “SHIBarmy,” Shiba Inu …

Time Magazine, the media company that has been an American institution for almost a century, is partnering with Mike Novogratz's Galaxy Digital in an effort for its readers to explore the metaverse. In a Thursday announcement, Time said the partnership with the investment management firm was aimed at educating its readers about the metaverse. The long-running magazine will be releasing a weekly newsletter on the metaverse, hosting educational resources on its website, and including the virtual space as a category in its annual list of the 100 most influential people in the world. Novogratz said the partnership was part of …

Bitcoin (BTC) and Ether (ETH) are testing psychologically important support levels at $60,000 and $4,000 respectively. Both these levels are critical to keep the uptrend intact in the short term. While the fall may scare off leveraged traders, Bitcoin whales seem to be viewing this dip as a buying opportunity. On-chain data shows that the third-largest Bitcoin whale added 207 Bitcoin to the holdings at an average price of about $62,053 per Bitcoin. After the latest purchase, the whale’s holding has increased by 635 Bitcoin in November, according to journalist Colin Wu. However, it is not all bullish news for …