Bitcoin (BTC) and Ether (ETH) are attempting to bounce off their critical support levels as bulls try to thwart attempts by the bears to deepen the correction. Tesla CEO Elon Musk said at the Code Conference in California recently that governments cannot “destroy crypto,” due to its decentralized nature but can “slow down its advancement.” Data shows that whales have been moving record amounts of Bitcoin in the past two weeks. The total transfer volume of transactions, worth $10 million and higher, has surpassed levels seen when Bitcoin’s price was near $60,000. According to on-chain analytics resource Material Indicators, “smaller” …

The Ethereum network’s long-planned upgrade to a scalable, proof-of-stake consensus model grows closer as developers set a date for the Altair upgrade. Altair, which is described as the first mainnet upgrade to the Beacon Chain, is scheduled to take place at epoch 74240, or roughly Oct. 27, according to Ethereum Foundation researcher Danny Ryan. Ryan described the technical upgrade as follows: “This upgrade brings light-client support to the core consensus, cleans up beacon state incentive accounting, fixes some issues with validator incentives and steps up the punitive params as per EIP-2982.” EIP-2982 introduces “punitive parameters” to ensure that the proof-of-stake …

Technical analysis is a controversial topic, but higher lows are commonly interpreted as a sign of strength. On Sept. 28, Ether (ETH) might be 30% below its May 12 high of $4,380, but the current $3,050 price is 78% higher than the six-month low of $1,700. To understand whether this is a “glass half full” situation, one must analyze how retail and pro traders are positioned according to derivatives markets. On Sept. 24, Chinese authorities announced new measures to curb crypto adoption, causing the second-largest Ethereum mining pool (Sparkpool) to suspend operations on Sept. 27. According to Sparkpool, the measures …

Bitcoin (BTC) and Ether (ETH) recovered a large part of the losses that happened due to the knee-jerk reaction to China's regulatory crackdown on Sept. 24. This suggests that crypto markets have absorbed the news-based selling, with long-term investors likely using the dip to accumulate. However, a rally may have to wait as market participants watch the outcome of the infrastructure bill this week, which could see the debate start on Sept. 27 and the final vote on Sept. 30. The broad definition of a “broker” may cause some volatility in crypto markets but HODLers are unlikely to be shaken. …

Ethereum’s native token, Ether (ETH), staged a rebound on Sept. 26 following a massive decline earlier this week that saw its prices plunging to as low as $2,651 on Coinbase. The ETH/USD exchange rate rose 3.63% to hit an intraday high of $3,030. The upside move amounted to a 14.3% upside retracement from the pair’s week-to-date low at $2,651, showing that traders attempted to retain their bullish bias despite potential headwinds ahead. Last week, ETH prices fell due to a flurry of issues arising from China. On Monday, traders dumped crypto assets en masse after a tumult in China’s heavily …

Bitcoin (BTC) briefly fell below $42,000 on Saturday, Sept. 25, as the weekend looked set to deliver an unimpressive weekly close. Trader: Bitcoin “fine” above $38,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD losing $1,000 in just over an hour during Saturday before rebounding. The weekend had started with the pair at around $43,000 — a critical level some say should hold as the weekly close looms. Others argue that lower price action would also be suitable for Bitcoin in the aftermath of Friday’s volatility, with $36,000–$38,000 as the cut-off point for bulls. Among them is Cointelegraph contributor …

The crypto market’s recovery was rocked on Sept. 24 after news that China's government is adopting a new set of measures that includes stronger inter-departmental coordination to “cut off payment channels, dispose of relevant websites and mobile applications” to crack down on illegal cryptocurrency transactions efficiently. Although the news has caused a selloff, long-term investors are unlikely to be perturbed because, apart from announcing additional measures to enforce the existing ban effectively, there is nothing else that has changed. China first announced a ban on cryptocurrencies back in September 2017 and that news had also resulted in a sharp correction …

The first half of 2021 in the crypto markets brought many comparisons to 2017. Bitcoin (BTC) was on a tear to its all-time high, the new frontier of decentralized finance emerged, and nonfungible tokens were gaining myriad celebrity endorsements. But after the initial months of euphoria and a subsequent sell-off, BTC’s performance has been far more lackluster. The recent market sell-off resulting from the Evergrande crisis has compounded fears. However, it can’t be ignored that many altcoins, particularly platform tokens, have undergone impressive runs and, in some cases, even bucked broader market trends. With hopes still high that another bull …

The price of Ethereum's native token Ether (ETH) crept lower Friday after China extended its crackdown on cryptocurrencies by deeming their transactions to be "illegal." "Financial institutions and non-bank payment institutions cannot offer services to activities and operations related to virtual currencies," the People's Bank of China said in a statement on its website Friday, adding that online crypto services to Chinese residents offered by offshore exchanges are also "illegal financial activities." Bids for the ETH/USD pair dropped by up to 13.30% to $2,735 in response. At its week-to-date (WTD) high, traders paid as much as $3,346 for a single …

Bitcoin (BTC) suddenly lost $2,000 in an hour on Sept. 24 as what appeared to be old news over a Chinese regulatory ban hit social media. Bitcoin vs. China: Don’t believe the “FUD” Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it abruptly fell from $45,000 to near $42,000. The kneejerk reaction came as a memo from China’s central bank, the People’s Bank of China (PBoC), began to circulate online, criminalizing practically all cryptocurrency activity except possession. As commentators noted, however, the PBoC originally released the updated guidance on Sept. 15 but posted it online on Friday, Sept. …

Ether (ETH) has been in a bearish trend since early September, and this week's Evergrande-led market crash drove the price below $2,700 on Sept.20, its lowest level in 47 days. Curiously, just three weeks ago, Ether was testing the $4,000 psychological barrier, but this changed after mounting crypto regulatory concerns and the fear of China's debt markets triggering a global sell-off intensified. This week United States Securities and Exchange Commission (SEC) Chairman Gary Gensler spoke to the Washington Post about renewed plans to regulate the crypto sector and the growing stablecoin market. Ether's negative price trend reversed on Sept. 22 …

Tune in to watch Cointelegraph host and analyst Benton Yaun alongside resident market experts Jordan Finneseth and Marcel Pechman. Here’s what to expect in this week’s markets news breakdown: After failing to reach $50,000, Bitcoin (BTC) slid back down to $40,000 on Monday before recovering to $44,000. What, or who, was behind this pullback? Dogecoin (DOGE) is gaining popularity even though transaction levels are at a low. Why is this happening? United States President Joe Biden nominated a new head for the Office of the Comptroller of the Currency, Saule Omarova, who is an anti-crypto law professor. If this nomination …