Bitcoin’s ‘Rich List’ Continues to Snap Up Cheap Coins
Bitcoin's rich list has accumulated 80,000 BTC since the May 19 crash.
Bitcoin's rich list has accumulated 80,000 BTC since the May 19 crash.
Pessimistic news isn’t stopping the crypto spot markets from looking bullish Wednesday.
“Traders have certainly lost the appetite for bitcoin in this uncertain market environment,” Arcane Research wrote in a report.
A death cross occurs when the 50-day moving average crosses below the 200-day moving average.
Oversold readings suggest limited upside for BTC towards $36K.
The cryptocurrency is up from a low price of about $31,000.
Ether is providing some with hope as its momentum, in the form of volume, continues to beat bitcoin for the 10th straight day.
The declining futures premium indicates uncertainty about bitcoin following a 35% correction in May and another 12% drop already this month.
"This traditionally bullish signal should be interpreted with caution and in the context of other indicators," one analyst said.
BTC will need to remain above $30,000 to avoid entering bear market territory.
Momentum has deteriorated, supporting a lower high compared with May's peak.
Bitcoin continues its descent amid whispers of U.S. Federal Reserve tapering economic stimulus and China's ongoing pressure on crypto miners.
El Salvador's announcement was largely ignored by markets, possibly due to the country's small size, analysts say.
Ether’s dominance is at 19.78%, the highest it has been since May 16.
Binance led competitors in May with a monthly trading volume of $2.46 trillion, up 49% from April levels.
Investors redeemed a net $141 million during the seven days through June 4, the highest weekly total on record, according to CoinShares.
Inflation could send the global economy into recession as central banks lose control, according to Deutsche Bank.
BTC remains in a tight trading range as the uptrend weakens. Upside appears limited this week.
They will show resilience even if the central bank curtails its monetary stimulus program.
Yellen's rate-hike comments and lingering China regulatory concerns dominate market sentiment.
MATIC's monthly gain proves that a cryptocurrency backed by growing usage can weather broader market sell-off.
Concerns of a crackdown by Beijing have been weighing on the market over the past weeks.
Paxful CEO Ray Youssef said all eyes should be on Africa right now.
Bitcoin dipped below $36K and ether fell under $2.6K on Tesla CEO’s bearish tweets, wiping out some leveraged players in the market.
NU is one of the few coins that has shown positive gains in the past day.
The sluggish economy could prompt the U.S. Federal Reserve to more slowly toward tapering its $120 billion in monthly bond purchases.
Open interest in the CME's standard bitcoin futures contract has hit the lowest since mid-December.
A strong NFP could bring more losses to the already weak bitcoin market.
Meanwhile, the cost of gas fees on the Ethereum network is near a three-month low.