Factors Contributing to the Decline 1. Federal Reserve Meeting Jitters Investors are holding back before the Federal Reserve’s meeting on Wednesday. The Fed is expected to keep interest rates unchanged but may adopt a more cautious stance. Higher interest rates tend to make non-yielding assets like Bitcoin less attractive. 2. Increased Selling Pressure A surge…
Bitcoin (BTC), the top cryptocurrency, is facing further declines as the market becomes increasingly pessimistic. Key Support Levels Breaking BTC is struggling to hold onto crucial support levels, signaling a potential for more losses. Factors Contributing to Bearishness Economic pressures Regulatory concerns Technical indicators Technical Analysis Indicates Further Decline 4-hour chart: BTC has fallen below…
Whales Accumulate Bitcoin Big investors, known as whales, have been buying Bitcoin like crazy, adding nearly $1 billion worth daily. This shows their belief in Bitcoin’s long-term potential and is seen as a bullish sign. Retail Investors Join the Party Not just whales, but everyday investors are also getting into Bitcoin. The number of addresses…
Market Volatility and Emotional Reactions Renowned crypto analyst Cold Blooded Shiller (@ColdBloodShill) recently shared his insights on Bitcoin’s current state amid market volatility. He emphasized the exaggerated emotional responses to single events, highlighting the importance of staying calm and rational. Technical Analysis Despite price fluctuations, Shiller believes Bitcoin is in an uptrend. However, he identifies…
Network Activity Surge Bitcoin’s network activity has seen a significant uptick, with over 750,000 addresses active in the past 24 hours. This suggests that more users are returning to the Bitcoin ecosystem, which could boost its price. Declining Exchange Supply Investors are holding onto their Bitcoin rather than selling it, as evidenced by the decline…
Solana (SOL) is at a crossroads. Once a star in the 2023 crypto rally, it’s now stuck between $155 and $170. Investors are unsure whether it will break out or slide further. Technical Tug-of-War Technical indicators give mixed signals. The “death cross” suggests a potential decline, but the RSI indicates some buying pressure. Social Media…
Bitcoin (BTC) is expected to make a significant move soon, according to analysts. After 87 days of consolidation, the world’s largest cryptocurrency is showing signs of breaking out. Technical Patterns Crypto analyst Faibik has identified a Descending Broadening Wedge pattern on Bitcoin’s daily chart, which suggests a price squeeze that often precedes a breakout. A…
Pattern Recognition Crypto analyst Moataz Elsayed has noticed a repeating pattern in Shiba Inu’s (SHIB) price history. After a surge following its listing on Binance in 2021, SHIB experienced a correction and then a breakout. Historical Data In May 2021, SHIB rose to $0.00005 after being listed on Binance. After a correction, it broke out…
Why Is Bitcoin Stuck Below $100k? Despite recent developments like Bitcoin ETFs, the highly anticipated surge to $100,000 remains elusive. Here’s why: Long-Term Holders Selling: Investors who have held Bitcoin for over two years are selling, reducing the supply and putting downward pressure on the price. Impact of Halving Not Yet Felt: The recent halving…
After hitting $71,000, Bitcoin has been stuck in limbo. But what’s next? Crypto analyst Alan Santana has some insights. Bitcoin’s Bullish Run Coming to an End? Santana believes Bitcoin’s bullish trend, which started in November 2022, is nearing its end. Bullish waves typically last around a year, and Bitcoin’s has been going for 16 months….
