Bitcoin price started a downside correction from the $72,000 zone. BTC is now consolidating near $70,000 and might eye another increase in the near term. Bitcoin struggled above the $71,800 resistance zone. The price is trading above $69,000 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at $69,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase unless there is a move below $68,800. Bitcoin Price Corrects Gains Bitcoin price gained pace for a move above the $70,000 level. BTC even spiked above $71,200 before the bears appeared near $72,000. A new weekly high was formed at $71,896 and the price recently started a downside correction. The price declined below the $71,000 level and the 23.6% Fib retracement level of the upward wave from the $66,047 swing low to the $71,896 high. However, the bulls are active above the $68,800 support zone. Bitcoin also trades above $69,000 and the 100 hourly Simple moving average. Besides, there is a key bullish trend line forming with support at $69,200 on the hourly chart of the BTC/USD pair. The price is now facing resistance near the $70,500 level. The first major resistance could be $71,200. The next key resistance could be $71,850. A clear move above the $71,850 resistance might send the price higher. In the stated case, the price could rise and test the $72,500 resistance. If the bulls push the price further higher, there could be a move toward the $73,200 resistance zone. Any more gains might send BTC toward the $74,500 resistance. Are Dips Supported In BTC? If Bitcoin fails to climb above the $71,200 resistance zone, it could continue to move down. Immediate support on the downside is near the $69,200 level and the trend line. The first major support is $69,000. The main support is now forming near $68,800 or the 50% Fib retracement level of the upward wave from the $66,047 swing low to the $71,896 high. Any more losses might send the price toward the $67,300 support zone in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $69,200, followed by $68,800. Major Resistance Levels – $70,500, $71,200, and $71,800.
A JPMorgan Chase customer reportedly robbed of his $300,000 at the bank’s branch in Brooklyn immediately after withdrawing the cash. The 31 year-old customer withdrew the huge sum from a The post JPMorgan Chase Customer Robbed $300,000 At Bank Branch In Brooklyn appeared first on BitcoinWorld .
The Bitcoin Policy Institute, a non-profit organization supporting bitcoin initiatives, has launched the Peer-to-Peer Rights Fund, a project seeking to protect bitcoin’s decentralized nature from regulatory overreach. The fund’s first objective is to aid in the defense of the founders of Samourai Wallet given the relevance of the case for the industry. Peer-to-Peer Rights Funds
The price of the flagship cryptocurrency Bitcoin has recently surged to surpass the $71,000 mark, while the price of the second-largest cryptocurrency Ethereum moved up over 20% in a single day, with an analyst now suggesting an upcoming short squeeze could lead to new highs. According to popular cryptocurrency analyst Willy Woo, the price of
On Monday, an attacker minted $200 million worth of GALA tokens but managed to sell only a portion of them. It’s just been returned.
On-chain data shows that Bitcoin addresses with zero sales histories participated in a big accumulation before this recovery run started. Bitcoin Inflows To Accumulation Addresses Sharply Spiked Recently As explained by an analyst in a CryptoQuant Quicktake post, the accumulation addresses on the Bitcoin network have shown some significant inflow activity recently. The “accumulation addresses”
The SEC's new directives and Ethereum's classification debates raise uncertainty over the potential ETH ETF approval.
The crypto industry has seen a positive shift with the recent market recovery. After a Q1 full of bullish sentiment, Q2 saw many sectors of the crypto space brewing a pessimistic feeling toward altcoins. Related Reading: Why Is The Ethereum Price Up 20% Today? Experts and market watchers have reassured investors that the price corrections were part of the cycle, predicting that the bullish rally would resume after the cool-off. Now, analysts consider that altcoins are about to embark on a “massive leg higher” for the alt season. Ethereum’s Surge Refuels Sentiment The crypto market is up by 8.3%, with a market capitalization of $2.55 trillion. This market surge has seen Bitcoin, the flagship cryptocurrency, soar past $70,000 in the last day. Similarly, the “king of altcoins” remarkably performed these past 24 hours. Ethereum (ETH)’s price has risen 22% since yesterday, surpassing levels not seen since mid-March. However, ETH is yet to test its all-time high (ATH) of $4,878, set nearly two years ago. As a result, the second-largest cryptocurrency has been criticized this cycle for being “a major disappointment.” In a turn of events, rumors of an approval of ETH spot Exchange-Traded Funds (ETFs) have refueled investors’ bullish tank, “erasing 65 days of down only” with a single daily candle. As ETH rallies, analysts believe it’s only a matter of time before the whole altcoins sector surges to kick off the altcoin season. Crypto analyst Rekt Capital highlighted the ‘Crypto Money Flow Cycle’, stating that, now that BTC and ETH have rallied, “it’s time for Altcoins to rally.” Is The Altcoins Season Here? During the slowdowns, market watchers have analyzed altcoins’ run this cycle. Altcoin Sherpa has stated that many tokens didn’t “run that hard” during round 1 of the bull run, resulting in his forecast of a 1-4 months “cool-off” period before resuming the uptrend. Despite the similarities with previous bull runs, the singularities of this cycle, like the approval of Spot Bitcoin ETFs and the Memecoin pre-sale frenzy, have made investors question whether they would see the alt season this time. Nonetheless, several analysts, who urged investors not to panic before, suggest the community prepares for the “maniac phase” ahead. Crypto Yoddha shared his chart for the 2024 altcoin cycle, stating that the dip was “just a higher low in an uptrend.” Per the chart, the altcoins market is now looking to retest the $1.27 trillion resistance level seen in March before testing last cycle’s $1.7 trillion ATH. To crypto Yoddha, “we’re looking at the bullish continuation” that will lead to a new market ATH during round 2. Similarly, Top analyst Michaël van de Poppe, who recently sold all his BTC for Altcoins, stated that the Altcoin market capitalization has finished its correction: The next step: reaching all-time high, which is ~60-70% from here. I think #Ethereum is likely reaching that in the next 2-4 months. Related Reading: Bulls In Control: Ethereum Longs See Biggest Candle Ever After ETF News Lastly, Crypto Jelle considers that “Altcoins are about to embark on a massive leg higher” after an 18-month accumulation period. The analyst compared the market’s recent breakout to a ball being held underwater, claiming that “it’s time for history to repeat.” Featured Image from Unsplash.com, Chart from TradingView.com
Farcaster has raised $150 million to expand decentralized social network with the just completed funding round lifting the startup’s valuation to $1 billion. The decentralized social media platform built on Ethereum blockchain and Optimism’s layer-2 ecosystem raised the millions of dollars in a funding round led by Paradigm. Also read: Coti V2 Developer Network Goes
Financial experts at Standard Chartered Bank are expressing optimism regarding the US Securities and Exchange Commission’s (SEC) approval of the first Ethereum spot exchange-traded funds (ETFs). This positive outlook is accompanied by a bullish price prediction for Ethereum (ETH), with a target of $8,000 by the end of 2024. Rising Anticipation for Ethereum ETF Approvals The post Standard Chartered Bank Sets Timeline For $8,000 Ethereum (ETH) Price appeared first on Times Tabloid - Latest Cryptocurrency News, Bitcoin (BTC) News, Ethereum (ETH) News, Shiba Inu (SHIB) News, Ripple's XRP News .