On Thursday, the price of Ether (ETH) surged from $2,443 to almost $3,000 — a 13.55% climb, according to Coinbase data. The strong intraday upside move appeared a day after ETH’s 27.61% price crash. It thus raised hopes that the second-largest cryptocurrency by market capitalization would eventually recover in the days ahead. But the prices declined nevertheless, leaving an impression that the upside recovery in the Ether market on Thursday was a mere “dead cat bounce” — a small, brief rebound in the price of a falling asset that acts as a bearish continuation pattern despite beginning like a bullish …

During strong uptrends, every correction is aggressively purchased as the sentiment is positive and traders expect higher levels in the future. Therefore, corrections during a bull phase are shallow and the trend reasserts itself quickly. However, when the trend changes from up to down, traders wait to sell on rallies because they believe lower levels are likely. In a bearish market, support levels are easily violated and the asset continues to slide. Generally, a downtrend that is followed after a roaring bull market does not end before a capitulation phase where most bulls have given up on the hope for …

Bitcoin (BTC) and the wider cryptocurrency experienced another wave of overnight selling which deepened on May 23 as the majority of tokens pummeled to multi-month lows. The market-wide sell-off resulted in the total cryptocurrency market cap shedding another $250 billion in value to $1.33 trillion. The total market cap has now experienced a 46% pullback from the May 11 all-time high at $2.56 trillion, but the stunning turn of events has left the vast majority of traders scrambling to lock in any gains experienced during the run up. This newest wave of selling pressure managed to successfully break below the …

Ethereum (ETH) and most major altcoins declined sharply on Sunday, extending a ten-day selloff that has knocked out more than $1 trillion in combined valuation from the market. Ether price dipped below $2,000 for only the second time since Apr. 7, reaching an intraday low of $1,870.00, according to TradingView data. Ether fell below the psychological threshold last week as Bitcoin (BTC) briefly dipped below $30,000. The second-largest cryptocurrency by market capitalization was last seen languishing at $1,936, down nearly 16% on the day. The fall from grace puts Ether at a 54% discount compared with its all-time high near …

After Bitcoin’s (BTC) capitulation on May 19 and the pullback on May 20, the next big question on everyone's mind is whether the correction is over or will the downtrend resume. Let’s study the supply and demand picture to gain more insight. Chainalysis chief economist Philip Gradwell pointed out that whales who had purchased more than 1,000 Bitcoin after 2017 added 34,000 Bitcoin to their holdings on May 18 and 19. This suggests the whales bought during the crypto meltdown. Additional on-chain data also suggests that the huge spike in over-the-counter Bitcoin outflow is a signal of accumulation by institutions …

The Bitcoin (BTC) market bias stands divided on how to interpret the BTC price crash this week, wherein the pair lost more than 35% of its value at one point on Wednesday, crashing to as deep as $30,000 on Coinbase. Global media outlets attributed the plunge to China reiterating its anti-crypto business stance and Tesla suddenly discontinuing Bitcoin payments for its electric vehicles. Nikolaos Panigirtzoglou, managing director for global market strategy at JP Morgan, further noted an ongoing decline in the capital that flows into publicly listed Bitcoin funds. He suspected a rotational investment setup, wherein institutional investors were winding …

Stack Funds — an issuer of crypto access products that include trackers, indexes and structure vehicles for institutions — has released a new report predicting that Bitcoin (BTC) dominance is set to ratchet back up to former highs in the near future. As of the start of 2021, Bitcoin dominance — the cryptocurrency's share of the total market capitalization of all crypto assets — has been on a steady decline, down from 72.3% in January to roughly 40% this week. As Stack Funds' head of research Lennard Neo notes, that figure represents a three-year low since May 2018. Whilst BTC …

Ethereum fees surged to record highs amid the recent crypto downturn, with users paying more than 2,000 gwei to execute transactions. Digital asset research firm Delphi Digital noted gas prices oscillated between 1,500 and 1,700 gwei for approximately one hour as DeFi liquidations drove “gas wars amongst liquidators and arbitrageurs.” In the May 19 Daily Gwei newsletter, Ethereum developer Anthony Sassano speculated the fee frenzy was likely triggered by on-chain margin traders racing to exit their leveraged positions: “The price was falling so fast that people were getting scared for their on-chain leveraged positions and were willing to pay anything …

Traders have become accustomed to perpetual futures markets trading pretty much in line with the regular spot markets. After all, there are incentives for arbitrage desks to buy those contracts at a discount. However, during periods of extreme volatility, market makers typically are not able to meet the demand. This movement could happen due to connectivity problems with the exchanges serves or the market makers' lack of funds to add more positions. While these situations are rare, today's performance was nothing short of unusual as some altcoins dropped by 30% or more. This movement caused anomalies on futures contracts, which …

Bitcoin’s (BTC) massive bloodbath on May 19 resulted in panic selling across the board. Several major altcoins nosedived between 25% to 50% during the day. The extent of the fall shows that many large traders may have dumped their positions and leverage traders may have been roasted. In a report to its clients on Tuesday, JPMorgan Chase analysts pointed out that institutional investors were abandoning Bitcoin in favor of gold. Considering the volatility ratio of Bitcoin to gold, JP Morgan believes Bitcoin’s current fair value is $35,000. The massive fall today is likely to scare several institutional investors and delay …

The price of Bitcoin and many cryptocurrencies may have taken a double-digit percentage drop in the last 24 hours, but some crypto experts still seem to be cautiously optimistic about the market as a whole. In an interview on CNBC’s Squawk Box on Wednesday, Galaxy Digital founder Mike Novogratz said that it was “going to take a while” for crypto markets to consolidate and find a bottom as the price of Bitcoin (BTC) dipped to $30,000 earlier in the day. Novogratz’s comments came when the price of the crypto asset was roughly $38,000, having been more than $42,000 at the …

Data from Cointelegraph Markets and TradingView shows that the initial price dump that pushed BTC below the $43,000 support level on May 18 accelerated into the overnight trading session as $110 billion worth of trading volume fueled the wick down to $30,000. The market downturn sparked outages and other delays across a few of the top cryptocurrency exchanges, and the prices of the vast majority of altcoins cratered alongside the price of Bitcoin, with Ether (ETH) briefly plunging to $1,900 and Dogecoin (DOGE) bottoming out at $0.236. The sell-off flushed out traders using excessive leverage As with any significant downturn …