Crypto Bulls Struggles To Defend Bitcoin’s $40,000 Level
As the Ukraine crisis worsens, Bitcoin and other cryptocurrencies are trading lower. The crypto market went down after the news broke that Russia had expelled USA Deputy Chief of Diplomatic Mission Bart Gorman following an escalation with Ukraine President Petro Poroshenko over fears for his safety.” On February 17th after President Biden reiterated that an invasion by Russia is “very excessive,” many investors took fright. They are afraid of what could potentially happen if this situation isn’t resolved soon enough. Tradingview information reveals that bears are offensive as....
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Bitcoin has seen some mixed price action as of late, with bulls struggling to defend the cryptocurrency against a break below $40,000 as bears try to reverse its momentum The crypto’s ability to hold above this level is promising, but it remains unclear as to how long it will hold If bulls can flip this previous resistance level into support, it could prove to be a strong base for the crypto to grow upon in […]
The Bitcoin price is now trading below the $19,000 level after the bulls failed to defend the coin at the aforementioned level. Over the last 24 hours, BTC fell by 1.2%, indicating that the coin was laterally trading. In the past week, the Bitcoin price has depreciated 6%. Buying strength continued to remain low on the one-day chart. Sellers have taken over, and it has been the same for almost a week. If the price of Bitcoin continues in this direction, the coin may fall to its immediate support zone. If the bulls have to defend BTC at the current price level, then buyers have to come....
Ethereum has been caught in a wild bout of turbulence these past few days, primarily because of its recent breakout rally that allowed it to gain serious ground against Bitcoin The cryptocurrency has been able to flip the crucial $1,000 level into support, and bulls are in the process of defending it presently It is imperative that bulls can continue defending this level in the near-term, as any dip below it could lead to a […]
Bitcoin’s price action has been rather lackluster as of late, with sellers forcing the crypto back below $19,000 as it struggles to gain any clear momentum in either direction. This price action has been surprising considering the macro strength incurred due to the recent multi-week uptrend, but it does seem as though serious upside could […]
Bitcoin and most major altcoins have not tracked the recovery seen in stocks, a possible indicator that further downside is possible. Equities markets in the United States rallied sharply on May 25 and 26 but Bitcoin (BTC) and altcoins have not followed a similar trajectory. This suggests that traders are not confident that the crypto markets have bottomed out yet. On-chain analytics firm Glassnode said that the number of Bitcoin whales has been reducing and on May 27, the metric fell to the lowest level since July 2020. On May 24, Miller Value Partners founder and chief investment officer....