Bitcoin has dropped below the critical $63,000 support level due to a wave of deleveraging and macroeconomic tightening, including persistent inflation and delayed Fed rate cuts. Institutional outflows from spot ETFs and a rotation into tech stocks have accelerated the decline, with over $3 billion wiped out in crypto derivatives liquidations recently. Technical indicators show Bitcoin is oversold but not yet ready for a reversal, with key support levels at $60,000 and $58,000. The outlook remains cautious as Bitcoin struggles under moving averages and faces strong selling pressure, while macro factors like inflation and interest rates continue to weigh on the market.
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...
Ether has surged about 11% over the past week, outperforming other major cryptocurrencies like Bitcoin, which rose 4%. This rise is driven by $96 million inflows into U.S. spot ether ETFs, mainly BlackRock’s low-fee funds, while Grayscale’s higher-fe...
Bitcoin's price surged to nearly $65,000 following softer-than-expected U.S. inflation data for June, easing fears of Federal Reserve rate hikes. However, on-chain data reveals two main groups of investors—long-term holders who bought near last year'...
