Bitcoin surged past $63,000 and quickly moved above $64,000 as expectations for a Federal Reserve rate hike in September dropped and the US dollar weakened, making risk assets like Bitcoin more attractive. The rally was supported by reduced selling pressure, with fewer coins on exchanges and less aggressive leverage. However, indicators like volatility-adjusted momentum and spot demand remain weak, raising concerns the breakout may be short-lived. The critical level to watch next is $65,000; a sustained move above it could signal a broader recovery if spot demand and ETF flows improve, otherwise it may just be a temporary relief rally.
Bill Miller IV, CEO of Miller Value Partners, argues that Bitcoin is significantly undervalued today due to worsening US fiscal deficits, even though Bitcoin's market cap remains roughly the same as the last cycle peak. He views Bitcoin not just as a...
Bitcoin's 50-day moving average recently crossed above its 200-day average, a pattern known as a golden cross often seen as a buy signal. Historical data since 2014 shows that Bitcoin's price rose 90 days after eight out of eleven golden crosses, ave...
Raoul Pal, founder of Real Vision, predicts Bitcoin will outperform the Nasdaq 100 following recent interest rate hikes by the Federal Reserve and Bank of Japan. Despite expectations that higher rates would hurt Bitcoin, its price surged past $81,000...
ARK Invest CEO Cathie Wood responded to venture capitalist Jason Calacanis's claim that Bitcoin's recent price rebound is just a "dead cat bounce" and that the cryptocurrency has lost its technological edge. Wood argued that Bitcoin is far from dead ...
Billy Markus, Dogecoin's cofounder, posted an ambiguous message on X saying "we're so back?" during a crypto market recovery where major coins like Bitcoin and Ethereum rose 5% and 6% respectively. Dogecoin itself gained nearly 4%, but Markus did not...
