Stocks surge, altcoins give back their gains and dollar strength may push Bit...
This week major cryptocurrencies reversed course after rallying, stocks struggled to maintain gains and a strengthening dollar could continue to weigh on BTC price. Between May 23 and 27, the equities markets had an impressive run, with the tech-heavy NASDAQ (NASDAQ: QQQ) ETF up over 7% and the S&P 500 (NYSE: SPY) up over 6.50%. However, this week' whipsaws in price action occurred throughout the week and while the J trade session is not yet over, the weekly candlesticks suggest a close near last week’s open. QQQ weekly chart (NYSE). Source: TradingViewCurrently, all major indexes face....
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Bitcoin continues its recovery from the China mining debacle but price action remains delicate in a low-volume market. Bitcoin (BTC) emerges into a new week with middling price action and optimistic fundamentals — what could the coming days have in store?Still holding $30,000 support, there’s little about Bitcoin to truly excite traders, but volatility has already reminded them of its presence over the past week.As a recovery in mining continues, everyone is playing a game of “wait and see” when it comes to the 2021 Bitcoin bull market.Cointelegraph takes a look at five things that might....
USD reaches 23-month highs while the Russian ruble joins in on the surprise gains. Bitcoin (BTC) neared new price lows for April on April 8's Wall Street open amid a fresh surge in the U.S. dollar.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView$43,000 hangs in the balanceData from Cointelegraph Markets Pro and TradingView captured another day of gloom for BTC bulls as the largest cryptocurrency slipped back under $43,000.In a classic move, BTC/USD reacted unfavorably to a resurgent dollar, with the U.S. dollar currency index (DXY) returning above 100 for the first time since....
$39,000 may seem unfairly cheap for Bitcoin, but there is likely more keeping it there than just Elon Musk. Bitcoin (BTC) has hit its lowest price since Feb. 8 and is struggling to maintain $40,000 — but is Elon Musk wholly to blame?Cointelegraph takes a look at other factors working against Bitcoin bulls this week as the market returns to levels that some thought would never appear again.USD bounces off multi-month lowsTesla CEO Elon Musk bashing Bitcoin's energy consumption is the narrative of the moment everywhere, but some classic hurdles to fresh price gains are also back this....
It's been a long time coming, but as yet, nothing has been able to propel BTC/USD over $50,000 for long. Is this week different? Bitcoin (BTC) is keeping everyone guessing this week as another Monday starts below $50,000.After rangebound movements over the weekend, bulls are still waiting for a decisive attack on the $50,000 mark — could it happen now?Despite optimism from analysts, it seems that not even an “uber dovish” Federal Reserve has the fuel to push BTC/USD above crucial resistance.Cointelegraph takes a look at five things which could still provide Bitcoin with new momentum.Dollar....
It could still go either way for Bitcoin price action, but one analyst believes Bitcoin is already coming out on top versus equities. Bitcoin (BTC) may continue its “bear market,” one trader says amid hope that a U.S. dollar reversal could soon improve BTC price action.In his latest YouTube update on May 2, Cointelegraph contributor Michaël van de Poppe argued that USD’s current surge would not last long.Dollar strength reversal "close"Bitcoin is still under pressure as stocks and crypto alike face the reality of a major policy flip from the U.S. Federal Reserve. Due to be announced this....