Market enters a 'wait-and-see phase' as Bitcoin struggles below $40,000
Traders remain cautious following last week’s brutal sell-off, but on-chain data is beginning to signal increasingly bullish activity while the crypto market awaits the next major move. Price action for Bitcoin (BTC) and the wider cryptocurrency market was relatively subdued on May 27 as nervous traders remain unsure of what comes next following last week’s market plunge that saw leveraged traders wiped out as BTC dipped as low as $30,000 before its price rebounded. Data from Cointelegraph Markets Pro and TradingView shows that while Bitcoin's price has managed to put in higher highs and....
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ATOM struggles to break $17 as the price gets rejected. The price of ATOM enters the distribution phase on a daily timeframe. ATOM’s price needs to hold the key support at $12 to maintain a bullish structure. Hidden bearish divergence resurfaces in the 4H timeframe. Cosmos (ATOM) has been the major player of the current relief bounce, with price rallying from a region of $6 to $17, with many paying so much attention to its ecosystem as this could prove to be a major player also in the bull run. The price of Cosmos (ATOM) showed so much strength, holding pretty well against tether....
Knowing how to spot market reversals and when to buy the dip is nearly impossible, but the RSI indicator can help. When an asset enters a bear phase and the headlines are negative, analysts project further downside, and the sentiment shifts from optimism to pure gloom and doom. This results in panic gripped traders dumping their positions near the bottom of the downtrend instead of buying. How can traders go against the herd and build the courage to buy in a bear market? It is not easy because if they purchase too early, the position may quickly turn into a loss. However, if they wait for....
Bitcoin (BTC), the pioneering digital currency that has recently seen a notable surge recording 51% in global crypto market capitalization dominance, has now received a fresh analysis from CryptoCon, a seasoned crypto technical analyst hinting at a potential surge in the asset’s price. This projection, shared in a recent post on X (formerly known as Twitter), has caught the attention of many, given its bullish outlook amid the present market landscape. Related Reading: Crypto’s Red Alert: Is War Pushing Bitcoin To $1 Million? Arthur Hayes Weighs In Bitcoin Enters Mid-Cycle Phase Four....
KnCMiner has announced that production of its Titan line of scrypt miners has moved into a new phase. The cryptocurrency mining hardware maker broke the news on its official blog, indicating that the Titan ASIC chips are now in the wafer encapsulation phase. During this process, a protective layer is applied to electronic components to safeguard the parts from damage caused by temperature and humidity changes. The update comes nearly two months after KnCMiner said that the tape-out for the Titan had begun. At the time, the company noted that it expected to complete production on the....
BitFinex has just been hacked. They lost their hot wallet to a malicious actor. However, due to security practices only a relatively minimal amount has been lost. BitFinex keeps over 99.5% of its customers deposits in secure multisig wallets, so only 0.5% at most was lost. BitFinex is a digital currency trading platform and states itself as currently in a beta phase (testing phase), though they have been in the market for a while now. They have a notable amount of trade and are considered by many to be one of the market leaders. Customers are being asked to cease depositing cryptocurrency....