Bitcoin sees second-longest bull market drawdown with BTC price 'stuck' at $30K
Bitcoin bull markets frequently see corrections from all-time highs, but only 2013 has beaten this year in terms of waiting times for a rebound. It's now three months since the last Bitcoin (BTC) all-time high, but one measure suggests that holders may be waiting even longer for the next.In a series of tweets on July 17, analytics service Ecoinometrics revealed that this year's descent from all-time highs is the second-longest in Bitcoin bull market history.$30,000 may stay "for a while"It's been 95 days since BTC/USD hit $64,500 and a major correction phase began. Investors are impatient,....
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Ethereum has been closing red week after red week for the past 11 weeks. It is the longest red streak that has been recorded in the history of the cryptocurrency, hence, it carried significant implications for the digital asset. Through the decline, it has been one of the worst-hit coins, performing poorly compared to the other cryptocurrencies at this time. However, the digital asset has now closed its first weekly green candle in three months and things are looking up. Better Days Ahead With this recovery has come a renewed interest in the digital asset. Coupled with the fact that the....
The analytics provider Ecoinometrics has published a tweetstorm that shows the current downward spiral from bitcoin’s all-time high is one of “the longest drawdowns bitcoin has had to deal with during a post-halving bull market.” Furthermore, the same day, analyst and economist, Julio Moreno, highlighted in a recent blog post that “in bitcoin, volatility is your friend.” Analyst Discusses Bitcoin’s Second Longest Drawdown Before the Next Price Move Most people in the industry understand that bitcoin (BTC) prices have seen better days and many spectators....
Ether, MKR and SOL rally to new all-time highs, while Bitcoin's price is stuck in what one analyst says is a range dominated by bots. Bitcoin (BTC) price is still stuck in what traders hope will be a short-term downtrend as the impact of the April 18 rumors of a crackdown on “unnamed financial institutions” for facilitating money laundering using cryptocurrencies have yet to be shaken off. Data from Cointelegraph Markets and TradingView shows that since being pummeled below the $51,000 level on April 18, the price of BTC has been trading in a range between $52,500 and $57,500 and....
There is blood running in the crypto market as top coins record losses across the board. Bitcoin and Ethereum are holding to critical support after an increase in selling pressure sent them below their weekly open. At the time of writing, BTC trades at $32,867 with a 3.2% loss in the weekly chart. ETH trades […]
Bitcoin bulls fell short of flipping the $38,000 level to support, and one analyst said on-chain data signals that BTC could see “a smaller drawdown.” The cryptocurrency faithful got a reprieve from recent market struggles thanks to a rally in decentralized finance (DeFi) tokens and Dogecoin (DOGE) on June 2. A bit of a breakout in the price of Ether (ETH) and Bitcoin (BTC) may have also lifted sentiment, but at the moment, the top-ranked digital assets are still meeting pushback at key overhead resistance levels. Data from Cointelegraph Markets Pro and TradingView shows that the price of....