Bitcoin has formed a rare bullish Relative Strength Index (RSI) divergence on its weekly chart, a signal that previously preceded a rally of over 700%. This divergence appears during Bitcoin's consolidation after a correction from highs above $120,000, suggesting selling pressure is easing. The pattern resembles Bitcoin's 2022 bear-market bottom, where a similar divergence led to a major rally. However, analysts caution that Bitcoin must reclaim key resistance levels, especially around $65,000, to confirm a sustained bullish trend. Despite macroeconomic challenges, Bitcoin remains resilient with institutional demand supporting its price near $64,260 as of now.
Bitcoin surged above $65,000, gaining nearly 3% over the week, driven by a weak US jobs report that reduced concerns about further Federal Reserve rate hikes. Other major cryptocurrencies like ether, BNB, and Solana also posted gains, while XRP lagge...
XRP's price dropped about 5% last week to around $1.03, underperforming as bitcoin, ether, and solana rose and the overall crypto market grew 1.4%. Although XRP-focused ETFs saw net inflows for a fourth consecutive week, new investments slowed sharpl...
A US congressman has introduced a bill to create a strategic Bitcoin reserve managed by the Treasury and to eliminate capital gains tax on Bitcoin transactions. This proposal aims to support institutional adoption and allow taxpayers to pay federal t...
Cryptocurrency markets display varied price changes, with Bitcoin trading around $65,160 and Ethereum near $1,921. Several altcoins like BEAT and PUMP have seen significant percentage gains, 35.1% and 12.9% respectively, indicating selective investor...
Economist Robin Brooks criticized Bitcoin's role as a safe-haven asset, highlighting its underperformance compared to precious metals like gold during periods of currency debasement. He argues that Bitcoin has not established itself as a reliable sto...
