December Turns Red For Bitcoin As Market-Wide Sell-Offs Continue
December has turned out to be a red month for bitcoin and other indexes as sell-offs have rocked the crypto space. Bitcoin and altcoins alike have recorded numerous losses tied to investors selling off their holdings and hunkering down for what looks to be the beginning of a drawn-out bear market. Some have however suffered more than others in a more that has turned bloody for investors. All across the market, indexes continue to record double-digit drops, signaling no improvement from the previous week as losses had also risen to the double digits. Losses have run even higher for the past....
Related News
There have been multiple sell-off trends recorded in bitcoin since the crash in December 2021. These sell-offs have been responsible for the decline in prices recorded in the digital asset over the last couple of months. Naturally, sell-off trends can be recorded on their magnitude depending on when the trading hours of a particular region are open. This time around, it seems that macro pressure on the U.S. market has been the culprit. U.S. Traders Drive Sell-Offs The sell-offs of the past two months have been especially brutal and have dragged down the year-to-date values. However, it....
Michael Saylor is one of the most vocal supporters of bitcoin and is CEO of MicroStrategy, the company with the largest bitcoin holdings in the world. The CEO has always been a big proponent of the digital asset, taking both a personal and professional stake in the asset. Saylor had revealed in 2020 that he holds over 17,000 BTC. At this time, bitcoin was still trading below $30,000 and Saylor had said that he got all of his holdings for an average of $9,882. Bitcoin has since grown over 100% since the CEO made his big reveal, pushing the value of Saylor’s holdings to almost $1 billion.....
Bitcoin price continues scratching out a non-committal path around $420 and 2800 CNY. Another attempt at advance is not out of the question, but the prospect of a labored decline looms. The outlook for bitcoin price is bearish. In the coming days we will cover the three pillars of analysis with respect to the bitcoin chart: technical, sentimental and fundamental. Today’s article considers the chart technicals. The 4-hour chart shows a repeating pattern of price action since mid December: the market cautiously approaches a down-sloping ceiling and then sells off rapidly. The last three....
Bitcoin and Ethereum have been at the forefront of market sell-offs that were triggered by the UST crash. Since then, sellers have continued to dominate the market and even with buyers making significant moves, it continues to be a seller’s market. The hope had been that a reversal in this trend would be witnessed with the start of the new week. However, inflow and outflow trends have indicated that sell-offs may continue for much longer. Bitcoin, Ethereum Inflows Remain High For Monday, there were some encouraging reversals in the price of major digital assets in the space. These included....
Bitcoin bulls should brace for a bearish impact as three of the leading on-chain indicators unanimously warn about potential sell-offs in the spot market ahead. CryptoQuant, a South Korea-based blockchain analysis firm, highlighted the latest readings on their proprietary metrics, one of which studies large BTC outflows from miners’ wallets and the other over-the-counter BTC […]