Bitcoin Trim Losses, Why Bulls Need To Overcome $32.5K For More Upsides

Bitcoin price started a strong upward move from the $29,250 support zone against the US Dollar. BTC must settle above $32,000 and $32,500 for more upsides in the near term. Bitcoin started a strong increase above the $30,000 and $31,000 resistance levels. The price is now trading well above $31,000 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $31,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct gains, but the…

Bitcoin bulls defend yearly open after BTC price rebounds 5.5% from $29K

Bitcoin (BTC) bulls could celebrate a modest victory on July 21 after record bids kept BTC/USD its 2021 opening price. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $31,000 back in play for BTC Data from Cointelegraph Markets Pro and TradingView showed the largest cryptocurrency avoiding a trip lower than $29,000 over the past 24 hours. After breaking through $30,000 support, concerns swiftly mounted that Bitcoin would surpass even its May lows and continue towards $24,000 or lower. These ultimately did not come to pass, thanks to, as Cointelegraph reported, the “biggest…

Bulls largely absent as Bitcoin price slips to the bottom of its range near $32K

Within the past few hours, a fresh wave of selling pushed Bitcoin (BTC) price close to the $32,000 support level as the low trading volume and general disinterest from traders saw the price revisit the lower section of its current range. BTC/USDT 4-hour chart. Source: TradingView The price of Ether (ETH) also fell under pressure alongside Bitcoin as the building momentum ahead of the network’s upcoming London Hard Fork failed to support a price above $2,000, resulting in a daily low of $1,918. Bitcoin’s compression range tightens Some insights into…

Altcoin bulls pile into Synthetix (SNX), Axie Infinity (AXS) and EOS

Bitcoin’s (BTC) steady range-bound trading opened the door for select altcoins to rally higher as antsy traders scour the markets in search of profitable opportunities.  Data from Cointelegraph Markets Pro and TradingView shows that the top 3 movers over the past 24 hours are Synthetix (SNX), Axie Infinity (AXS) and EOS. Top performing assets over the last 24-hours. Source: Cointelegraph Markets Pro The growing momentum in both decentralized finance (DeFi) and nonfugbible tokens have helped lead to a boost to prices, while the adoption of a stablecoin on the EOS…

Ethereum bulls chase $2,200 ahead of Friday’s $230M ETH options expiry

Ether’s (ETH) $1.5 billion monthly expiry on June 25 was slightly favorable for bears, and at the time, Cointelegraph reported that the $2,200 price was critical to eliminate 73% of the neutral-to-bearish put options.  However, bulls were not able to sustain their advantage because the expiry price was near $1,950. In the end, the protective put options outnumbered the neutral-to-bullish call options by $30 million. Fast forward to July, and after a noticeable 10% rally, Ether’s price again struggles to sustain the $2,100 support. Bitcoin’s negative 3.5% performance could partially…

Bulls and bears fight over $34K Bitcoin price as $445M options expiry looms

Bitcoin (BTC) has been ranging from $30,400 to 36,400 for the last 12 days, and it has been difficult to pinpoint the exact reason for investors’ lack of appetite. Some analysts have pointed to the Grayscale Bitcoin Trust (GBTC) unlocking in mid-July finally giving institutional investors a chance to offload their funds, but this is not likely to be the main reason. Meanwhile, industry leaders have suggested that the “crypto regulatory crackdown” taking shape in the United States is severely impacting investors’ sentiment, and this view is especially problematic considering China has recently…

‘Negative’ Bitcoin daily chart means bulls must defend $29K — Peter Brandt

Bitcoin (BTC) needs to stay above $29,000 to preserve the bullish case in the short term, famous trader Peter Brandt has warned. In a tweet on July 1, Brandt, well known for his shrewd BTC price calls in recent years, warned that the onus was on bulls to show Bitcoin’s strength. Brandt: Bitcoin daily performance “negative” BTC/USD lost around 5% on Thursday, erasing more and more of its previous gains even as many on-chain indicators flipped bullish. For Brandt, lower timeframes showed little optimism, and a shake-up was now necessary…

Bitcoin bulls must now defend $33K support after 5% daily loss

Bitcoin (BTC) faced fresh losses on July 1 as attention focused on an impending test of an important  support zone.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView No price breakout for Bitcoin Data from Cointelegraph Markets Pro and TradingView tracked a 5% decline in BTC/USD overnight on Wednesday. As Cointelegraph reported, eyes are now on an area between $32,300 and $33,000 to provide a floor. On Thursday, popular trader Michaël van de Poppe reiterated the need for that zone to hold. The pair had reversed after reaching nearly $36,700, erasing most…

Bulls are back, but regulatory fears hamper the DeFi and altcoin recovery

On May 19, the total cryptocurrency market capitalization nosedived by 19% and has since failed to recover to the $1.8 trillion mark. More than 40 days have passed, and investors have begun to question what could happen to altcoins if the current bear market takes longer than expected to recover. Before digging into that, analysts first need to understand whether specific sectors held out better than most, and more importantly, they should distinguish which cryptocurrencies have managed to stay afloat over the past 30 days. Cryptocurrency total market capitalization (in…

Bitcoin Breaks $35K, Why BTC Bulls Aim A Larger Rally

Bitcoin price regained strength for a fresh increase and it broke $35,000 against the US Dollar. BTC is likely to accelerate higher towards $36,500 or even $37,000. Bitcoin started a fresh increase above the $34,000 and $35,000 resistance levels. The price is now trading nicely above $34,000 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $33,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is showing positive signs and it could even…