Bitcoin (BTC) tapped $31,000 for a third time this year on June 25 as the weekly close promised volatility.
Data from Cointelegraph Markets Pro and TradingView showed BTC price movements focusing on yearly highs.
BTC price remained strong over the weekend as attention focused on geopolitical events in Russia and surrounding states.
With tensions lessening on the day, curiosity over markets’ reactions at the June 26 open remained, with the weekly candle close — already a classic source of volatility — coming first.
In a recent analysis, popular trader Rekt Capital put the “most bullish scenario” for the weekly close above the pivotal $30,000 mark.
“BTC in mid-April rejected from $30,000 resistance. Let’s see if $BTC can turn $30,000 into support,” a further post added over the weekend.
Fellow trader Crypto Tony stayed hopeful for a trip to $32,000 next, should Bitcoin successfully consolidate near $31,000.
A slightly less confident Michaël van de Poppe, founder and CEO of trading firm Eight, called into question bulls’ ability to keep upside momentum going.
“Bitcoin made a nice high, through which it swept the yearly high,” he told Twitter followers.
“I’m unsure whether we’ll continue running from here, but during uptrends you’ll most likely see price continuing to run rather than have deep corrections. If we have a correction, $28,500 I buy.”
Van de Poppe repeated a popular downside target among market participants eager to “buy the dip” below $30,000.
Despite the cool-off in volatility against the U.S. dollar, Bitcoin did manage to set new records in three countries this week.
In Argentina, Venezuela and Lebanon, BTC hit its highest-ever levels against the local currency.
For those countries, that trend has continued throughout 2023 as inflation and macroeconomic policy choices quickly erode purchasing power.
In Turkey, where the lira plunged to new lows against the dollar, BTC/TRY neared the area of its blow-off top from December 2021.
Magazine: Gary Gensler’s job at risk, BlackRock’s first spot Bitcoin ETF and other news: Hodler’s Digest, June 11–17
source:cointelegraph
Polkadot was launched in May 2020. In a market dominated by Bitcoin and Ethereum, it quickly established itself as the next generation blockchain. The scale and interoperability problems limit Bitcoin's ability to transfer value without the assistance of
For some newcomers to the currency circle, they are not familiar with the investment in the currency circle, and their understanding of the special currency is not very deep. Therefore, they may be at a loss in the choice of investment methods. Many inves
Lummis is a well-known crypto advocate on Capitol Hill with over $100,000 in crypto.
Several analysts argue that shrimp accumulation is good for the Bitcoin network because it makes the asset more decentralized over time.
ARK Invest filed for a spot Bitcoin ETF in collaboration with 21Shares long before BlackRock did, and its application is reportedly first in line for the SEC’s approval.
Interestingly, the price surge was on the back of increased activity from whales, as indicated by on-chain data. The increased activity led to an increased"/>
Recent market dynamics have seen Solana struggling to break above the $200 mark. A notable bearish factor among these market fundamentals is the recent"/>
DOGE, the internet's favorite memecoin, is back in the spotlight. Recent data reveals a surge in futures market activity, coupled with bullish technical"/>
The recent stratospheric rise of Bitcoin, reaching a new all-time high of $73,000, has sent ripples of excitement and trepidation through the crypto world."/>
Co-founder of Tornado Cash Roman Storm has filed a motion to dismiss the charges levied against him by the US Department of Justice (DOJ)."/>
On Thursday, March 28, a hack occurred on Prisma Finance, a decentralized lending protocol on the Ethereum network. The exploiter carted away about 3,257.7"/>
Once fully licensed in Dubai, Bybit plans to run a full-scope exchange, offering crypto lending, payments, investment and other services.
Tue, 18 Apr 2023