Amid the broader market correction, the Ethereum coin witnessed a three-day losing streak with its price falling from $3286 to $2888 accounting for 12%. The recent fall backed by increasing volume hints at the sellers’ conviction to lead the asset value lower as BTC goes Sub-60K. However, an analysis of the daily chart shows the The post What Historical Trends Hint for Ethereum Price Behavior in May? appeared first on CoinGape .
The US Fed Meeting has dominated market narratives in the last 48 hours as analyst predicts the direction of US Stocks. The stock market has recorded slight gains in the last 24 hours as traders shake off the expected hawkish Fed meeting outcome. The US Federal Reserve left interest rates unchanged today, a move anticipated The post US Stocks Gain As Wall Street Picks Up With Unchanged Rates appeared first on CoinGape .
Coinbase has joined Binance, OKX, Kraken, and Bitfinex to enable cheaper and faster BTC transactions on their platforms.
The crypto market in 2024 presents a plethora of investment opportunities, with BlockDAG leading the charge with its remarkable presale success. BDAG’s surge of $21.7 million sets a bullish precedent in the crypto space, indicating strong investor confidence and robust demand. Let’s delve into the top 9 best crypto investments in 2024, including other pioneering The post BlockDAG is the Top-Ranked Crypto Investment for 2024, with a Price Forecast of $20 Ahead of 5SCAPE, Sponge V2, Others appeared first on Live Bitcoin News .
BlockDAG distinguishes itself in the competitive blockchain technologies. By leading among the top 5 most eco-friendly cryptocurrencies, this innovative platform offers user-friendly tools designed to minimize ecological footprints. Alongside BlockDAG, other notable cryptos like Solana, Cardano, Algorand, and Nano each contribute uniquely to the sustainable blockchain ecosystem with their energy-efficient solutions. Investing in these technologies means The post Top 5 Most Eco-Friendly Cryptocurrencies: BlockDAG Stands Out Amidst SOL, ADA, ALGO & Nano With Its Energy-Efficient Solutions appeared first on Live Bitcoin News .
As May 1st started, Bitcoin (BTC) faced a new correction that made the price stumble under the $60,000 support level. The flagship cryptocurrency has seen several retraces during this bull cycle, with BTC swiftly recovering the crucial support zones each time. However, in the past 24 hours, the largest cryptocurrency by market capitalization has struggled to regain its momentum. Some analysts believe Bitcoin’s bottom this cycle might be in as this correction officially became its deepest retrace. Related Reading: If History Repeats, This Is How Bitcoin Price Will Perform In The Next 6 Months Is The Bitcoin Bottom Here? In the early hours of Tuesday, Bitcoin started to plunge from the $64,000 price range. As the day continued, BTC prolonged its fall to briefly trading around $59,958 – $59,191 before recovering. This time, the recovery didn’t last long as Bitcoin’s price resumed its downward trajectory to $57,000. In an X thread, crypto trader Milkybull examined some data suggesting the bottom might finally be in. According to the analyst, BTC is “following the 2017 PA.” This would suggest that “either the bottom is in or close.” Moreover, he urged investors to remember that while good news “usually signals the top,” bad news signals a bull market’s bottom. In the thread, the trader pointed out that the Bitcoin Bull Market Support Band indicator historically serves strong support during BTC’s bull cycles. As a result, he considers that the flagship cryptocurrency might “wick through the support and bounce back.” 2024's Bitcoin Bull Market Support Band indicator resembling 2017's. Source: MilkybullCrypto on X According to the analyst, Bitcoin and global liquidity are also strongly correlated, with BTC currently at a level it has previously bounced back from. These bouncebacks initiated “huge rallies across the crypto market” in October 2022 and October 2023. Lastly, the thread highlighted that Bitcoin “is at a critical decision point for the local bottom.” The trader considers that while some call for a $48,000 bottom, the $51,000 support level might be where BTC bounces back to resume its cycle to this cycle’s top. Bitcoin’s Deepest Retrace This Cycle According to crypto analyst and trader Rekt Capital, this correction has officially been the deepest BTC retrace this cycle. Per the post, today’s -23.64% retrace surpasses the -22.91% retrace seen in February 2023. The analyst also compared this cycle’s “Post-Halving” pullback to 2016’s. Moreover, the trader considers that this bullish cycle might be more similar to the 2016 one than investors think. #BTC We are here (orange circle) And we've seen Post-Halving pullbacks like this in the past (e.g. 2016)$BTC #Bitcoin #BitcoinHalving pic.twitter.com/OvOcmJTzFk — Rekt Capital (@rektcapital) May 1, 2024 Previously, Rekt Capital listed three reasons these two cycles might be similar. Per the trader, the resemblances include the “Pre-Halving Re-Accumulation Range Breakout,” the “Pre-Halving Retrace Beginning,” and the “Similar Initial Reaction after the beginning of the Pre-Halving Retrace.” After today’s retrace, the analyst added the “Continued downside in the three weeks after the Halving” as a fourth similarity between the 2016 and 2024 cycles. Like eight years ago, Bitcoin faces an “additional downside below the Range Low of its Re-Accumulation Range” in the three-week window after Bitcoin’s “Halving.” Moreover, the analyst suggests that the current price development comes “as no surprise,” as it mirrors 2016’s “post-Halving Danger Zone.” As of this writing, the flagship cryptocurrency is trading at $57,794.89. This correction represents a 6.2% drop in the past 24 hours. Similarly, BTC is registering 13.4% and 17.7% price decreases in the weekly and monthly timeframes. Related Reading: Bitcoin Price Nosedives, Can Bulls Save The Key Support at $60K? Bitcoin's price performance in the weekly chart. Source: BTCUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com
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In the last 48 hours, the Bitcoin price has witnessed intense selling pressure evidenced by the two long red candles in the daily chart. From $64714, the BTC price plunged 12.7% to currently trade at $56921, which the market cap fell to $1.28 Trillion. This downswing could be attributed to the negative outflow in BTC The post What’s Next For Bitcoin Price After A Decisive Breakdown From $60k? appeared first on CoinGape .
Controversial economist and long-time crypto critic, Peter Schiff has once again taken a swipe at investors in the Bitcoin (BTC) ecosystem, asking them to dump the digital asset as it was now worth fewer than “25 ounces” of gold. Bitcoin Price Value Spotlighted Alongside Gold In an X post, Schiff shared an updated chart of The post Bitcoin (BTC) Now Worth Fewer Than 25 Ounces: Peter Schiff appeared first on CoinGape .
Bitcoin's rise signals a weakening trend on May 1st. Analysts maintain a long-term bullish outlook despite short-term volatility. Continue Reading: How Does Bitcoin’s Recent Movement Affect the Market?