Bitcoin Faces Trouble as Dollar Logs Fresh 2021 High, Researcher Warns
Key Bitcoin Takeaways Bitcoin reversed its short-term downside bias after Elon Musk introduced a new BTC payment option on Tesla online stores. Meanwhile, the US dollar index reached a fresh year-to-date after Jerome Powell’s congressional testimony on Tuesday. One researcher warned that any further strength in the US dollar market could force Bitcoin prices lower. […]
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Bitcoin’s composite trend signal has shifted back into a “high bear” zone, according to researcher Axel Adler Jr., following a sharp three-week reversal from May highs around $82,500. Related Reading: Crypto Scammers Exploit Google Ads To Drain $400K From Uniswap Users The cryptocurrency now trades just above the $74,500 support band, a level that aligns […]
Lawyers representing former Silk Road operator Ross Ulbricht announced via a press conference that they believe they have discovered another corrupt government agent involved in the case. New chat logs unearthed by Ulbricht’s defense reveal an ongoing conversation between the “Dread Pirate Roberts,” Ulbricht’s pseudonym, and “alpacino,” an agent connected with the United States Drug Enforcement Administration. Previously believed to be one of two corrupt government agents already discovered to be involved in the case, these new chat logs, hidden away on a backup server for an obscure....
A growing positive correlation between Bitcoin and stocks could spell trouble for the former, according to Vlad Antonov of Santiment, a data analysis service.
Solana started a fresh increase from the $194 zone. SOL price is now recovering higher and faces a heavy resistance near $212. SOL price started a recovery wave after it tested the $194 zone against the US Dollar. The price is now trading above $200 and the 100-hourly simple moving average. There was a break below a connecting bullish trend line with support at $207 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could start a fresh increase if it clears the $212 resistance zone. Solana Price Faces Resistance Solana price started a decent increase from the....
The recent nerves in the stock market and macro world has caused the dollar to surges to a new 2021 high, just as Bitcoin continues to set new records. But is the greenback’s awakening a dangerous situation for cryptocurrencies, or is something else afoot? BTC Barely Reacts As DXY Taps New 2021 High Bitcoin price is in price discovery mode, after breaking its former high set earlier in the year. The cryptocurrency is pitched as a replacement for gold, and even the dollar – the current global reserve currency. Cryptocurrencies, commodities, and everything else are priced in dollars....