Bitcoin's price has dropped to around $59,000 after losing the key 78.6% Fibonacci retracement level near $64,270, a critical support that traders saw as the last defense before a deeper selloff. The current $59,000-$60,000 zone, which aligns with June's low, is now the final major support area. Technical indicators remain bearish, with Bitcoin trading below key moving averages and a descending trendline capping recovery attempts. If this support fails, Bitcoin could face a further decline toward $44,500, but a successful defense might allow a rebound toward $64,000 and beyond. The coming days will be crucial in determining whether Bitcoin forms a durable bottom or continues its correction from May.
Bitcoin traded near $64,500 as trading volume declined and market sentiment remained cautious despite stable on-chain activity and exchange outflows. The Crypto Fear & Greed Index stayed at 'extreme fear,' indicating low investor confidence. While tr...
Bitcoin's price slightly fell to $64,164, reflecting broader market caution as equity indices and financial indicators like the US 10-year yield and DXY suggest tighter conditions. Meanwhile, Ethereum gained 2.09% to $1,908, showing selective investo...
Bitcoin recently rallied to $65,086, its highest close since late June, driven mainly by softer US inflation data that lowered expectations for Federal Reserve rate hikes. However, Bitfinex reports that this rally lacks sustained spot buying and depe...
Veteran trader Peter Brandt has identified a potential "inverted head and shoulders" bottom pattern in Bitcoin's price, suggesting a possible shift in momentum. However, he cautions that the pattern is unconventional and not yet confirmed. Meanwhile,...
Ethereum rose 3.17% to $1,923.53, outperforming Bitcoin's modest 0.18% gain to $64,588.87, signaling an early rotation toward large-cap altcoins. Despite this, overall market activity slowed, with declines in DeFi, stablecoin, and derivatives trading...
