Bitcoin's 200-week moving average (200WMA), a key long-term trend indicator, has surpassed $61,000, as highlighted by Bitcoin pioneer Adam Back. This moving average is significant because it often marks the boundary between bear and bull markets and acts as a strong support level during downturns. Despite Bitcoin's price dropping nearly 42% from its all-time high of $126,198 last October and recent short-term declines to around $72,364, the upward trend of the 200WMA suggests that Bitcoin's long-term momentum remains positive. Analysts are watching $70,000 as a crucial support level while market participants consider the Federal Reserve's cautious stance on interest rate hikes amid persistent inflation.
Bitcoin has completed a five-wave decline, signaling a potential short-term downward trend. The cryptocurrency is currently testing a key resistance level at $74,250, which if broken, could lead to a recovery toward $76,150. However, a larger resista...
Bitcoin is showing signs of weakening momentum as traders have wiped over $10 billion from the market this week, pushing the price closer to the $70k support level. Sentiment has dropped into extreme fear, a historical sign of capitulation, while mor...
Over $1.5 billion in Bitcoin long positions were liquidated following heightened geopolitical tensions after U.S.-Israel strikes on Iran, causing a sharp market selloff. This forced deleveraging reflects increased risk aversion and suggests Bitcoin i...
Bitcoin surged past $74,000 following the U.S. Commodity Futures Trading Commission's approval of Kalshi's Bitcoin perpetual contract, signaling regulatory openness to crypto derivatives. Meanwhile, the SEC filed charges against a Texas resident for ...
U.S. spot Bitcoin ETFs recorded $125.3 million in net outflows for the 10th consecutive trading day, marking one of the longest sustained selling streaks since their launch. This persistent outflow suggests a shift in investor positioning, possibly r...
