The memecoin phenomenon didn’t prove as effective in the last month's start of year crypto market rally, as the gains of the top cryptocurrencies in this category barely outperformed Bitcoin. The monthly gain of BTC stood at 44.5%, while the top two meme-based coins DOGE and SHIB gained 27% and 40.7%, respectively. Doge needs a market moving catalyst Dogecoin is losing its popularity as its most prominent supporter Elon Musk is reportedly developing an independent Twitter Coin instead of integrating his favorite cryptocurrency with the social media platform owned by the entrepreneur. For the greater part of 2022, DOGE/USD performed …

Ether (ETH) has been struggling with the $1,680 resistance since Jan. 20. Still, the ascending triangle pattern and improvements in investor sentiment in ETH derivatives provides hope that Ether price could reach $1,800 or higher by the end of February. This, of course, depends on how the Ether price behaves as it reaches the pattern deadline by mid-February. From one side, traders are relieved that Ether is trading up 33% year-to-date, but the repeated failures to break the $1,680 resistance coupled with negative newsflow might give bears the power to cancel the bullish triangle pattern. According to a Jan. 30 …

Avalanche (AVAX) bulls should brace themselves for impact led by a growing divergence between severalkey indicators on the daily-timeframe chart. AVAX price chart paints bearish divergence The daily AVAX chart shows a classic bearish divergence between its price and relative strength index (RSI), a momentum oscillator forming since Jan. 11. In other words, the price of AVAX has been making higher highs since the said date. But, on the other hand, the coin's daily RSI has been forming lower highs. This divergence suggest a slowdown in the momentum of the AVAX/USD pair, which may lead to a price reversal. In …

Bitcoin's (BTC) price has been trading above $22,500 for 12 days. Of course, this situation can change even if Federal Reserve chair Jerome Powell issues positive statements about the economy in today’s post-FOMC presser. Even if the decision matches the market consensus, the post-meeting statement should be investors' primary area of focus. Specific areas to focus on would be clues for the next meeting in March. Troubling news for the largest stablecoin Tether (USDT), could also cause a meaningful impact after a Celsius bankruptcy examiner report showed that "Tether's exposure eventually grew to over $2 billion" in Sep. 2021. However, …

This week on The Market Report, the resident experts at Cointelegraph discuss Bitcoin’s (BTC) impressive January rally and whether there are any indicators that suggest it could continue in February. We start off this week’s show with the latest news in the markets: Best January since 2013? 5 things to know in Bitcoin this week After sealing its highest weekly close in almost six months, BTC/USD remains over 40% up year-to-date, with the monthly close just 48 hours away — can the gains hold? Throughout, concerns have called for an imminent come-down, and even new macro BTC price lows as …

Bitcoin (BTC) is rapidly regaining its lost dominance in the crypto market so far into 2023. On Jan. 30, Bitcoin accounted for 44.82% of the total crypto market capitalization, the highest since June 2022. In September 2022, Bitcoin's dominance index was as low as 38.84%. The index typically rises when most crypto investors reduce their exposure to smaller tokens and seek safety in Bitcoin. The reasons include Bitcoin's better liquidity and lower volatility than alternative cryptocurrencies, or altcoins, primarily in a bear market. Bitcoin's market dominance to grow further? As of Jan. 31, Bitcoin is up 38% year-to-date (YTD) at …

Bitcoin (BTC) price broke above $22,500 on Jan. 20 and has since been able to defend that level — accumulating 40.5% gains in the month of January. The move accompanied improvements in the stock market, which also rallied after China dropped COVID-19 restrictions after three years of strict pandemic controls. E-commerce and entertainment companies lead as the year-to-date market performers. Warner Bros (WBD) added 54%, Shopify (SHOP) 42%, MercadoLibre (MELI) 41%, Carnival Corp (CCL) 35% and Paramount Global (PARA) managed a gain 35% so far. Corporate earnings continue to attract investors' inflow and attention after oil-producer Chevron posted the second-largest …

Bitcoin mining stocks usually follow BTC’s price because it directly influences the company's earnings. These stocks were beaten down heavily in the last quarter of 2022, especially in the month of December. The downturn after FTX's collapse worsened with the bankruptcy filings of the largest U.S.-based Bitcoin mining company, Core Scientific. During this time, other mining stocks, like Marathon Digital Holdings (MARA) in the chart below, exhibited a weak correlation with Bitcoin’s price, suggesting that December’s downturn was probably overblown. The negative trend reversed at the start of 2023 as most mining stocks posted impressive gains. The Hashrate Index mining …

On Jan. 30, European cryptocurrency investment firm CoinShares published its “Digital Asset Fund Flows Report,” which revealed that digital asset investments experienced a surge in inflows last week, reaching $117 million, the highest since July 2022. CoinShares reported that the sector's total asset under management (AuM) rose to $28 billion, a 43% increase from its November 2022 lows. The improvement in investment product volumes was evident, with $1.3 billion traded during the week, a 17% increase compared to the year-to-date average. Meanwhile, weekly volumes in the digital asset market have risen by an average of 11%. Germany saw the highest …

Despite the recent negative crypto and macroeconomic newsflow, the total cryptocurrency market capitalization broke above $1 trillion on Jan. 21. An encouraging sign is that derivatives metrics are not showing increased demand from bearish traders at the moment. Bitcoin (BTC) price gained 8% on the week, stabilizing near the $23,100 level at 18:00 UTC on Jan. 27 as the markets weighed the potential impact of Genesis Capital's bankruptcy on Jan. 19. One area of concern is Genesis Capital's largest debtor is Digital Currency Group (DCG), which happens to be its parent company. Consequently, Grayscale funds management could be at risk, …

Cryptocurrency is a notoriously volatile industry, regardless of what coin you’re trading. During periods of extreme volatility, it’s easy to become disheartened when trades don’t go your way. It’s also easy to become overconfident when you get lucky, falsely attributing it to your trading strategy — when, in reality, the price often rose or fell for reasons other than you assumed. Despite the uncertainty, there are sometimes still strategies you can use to trade certain tokens successfully. Ether (ETH) is arguably where you might be able to succeed this year. Here are three tips that might help. Understand what actually …

Litecoin (LTC) has rebounded by 130% to almost $100 after bottoming out near $40.50 in June 2022. The primary reasons include broadly improving risk-on sentiment and euphoria around the Litecoin halving in August 2023. However, technicals suggest that LTC may wipe out most of these gains in the coming months. LTC price paints giant bear flag Litecoin stands to pare its gains mainly due to a giant bear flag on the weekly char. A bear flag is a bearish continuation pattern that occurs when the price consolidates inside an ascending, parallel channel after undergoing a strong downtrend. It resolves after …