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Cryptocurrencies

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Cryptos’ short-term outlook rests on the Fed – Crypto News

Posted on September 6, 2024 at 7:23 am GMT

Cryptos trade lower due to overall negative market sentiment Spot ETFs outflow confirm investors’ lower appetite Cryptos desperately looking for new bullish catalysts Ethereum a tad above some key support levels Cryptocurrencies remain under pressure The cryptocurrency world remains under severe pressure with bitcoin repeatedly failing to climb above the $60k area. The downward trend from the March highs is still in place, with a series of lower highs setting the bearish tone and pushing the king of cryptos around [..]

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Technical Analysis – Bitcoin slides and hits the 56,200 support

Posted on September 5, 2024 at 8:20 am GMT

Bitcoin has been declining since August 26 The bigger picture points to a broadening formation Oscillators imply further declines within the pattern BTCUSD has been sliding lately, after hitting resistance near the 64,700 zone on August 24 and 26. The crypto king dropped below the key support (now turned into resistance) zone of 61,600 and found support slightly below 56,200 yesterday. In the bigger picture, bitcoin has been trading within a broadening formation since March 13, implying a neutral medium-term [..]

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Bitcoin trades in rollercoaster manner, returns below $60,000 – Crypto News

Posted on August 28, 2024 at 11:57 am GMT

Expectations of lower Fed rates benefit bitcoin Crypto-friend Kennedy endorses Donald Trump But speculation of potential major sale weigh   Fed’s Powell sounds more dovish than expected Bitcoin rallied around 5% on Friday after Fed Chair Powell appeared more dovish than expected at the Jackson Hole Economic Symposium, perhaps receiving extra support after Robert F. Kennedy Jr. announced his decision to withdrawn from the presidential race and endorse Donald Trump. At the Jackson Hole Economic Symposium, Fed Chair Powell said [..]

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Bitcoin holds above $60,000 ahead of Jackson Hole – Crypto News

Posted on August 23, 2024 at 11:39 am GMT

Bitcoin recoups some losses as risk sentiment rebounds But cryptos fail to erase latest slump, lagging against stocks Absence of new catalysts shifts attention to presidential race   Bitcoin at a crucial level ahead of Jackson Hole Bitcoin is down more than 9% this month, lagging almost against every major asset class. In early August, cryptocurrencies plummeted amid a broader selloff in risk sensitive assets, after the July downbeat NFP report triggered concerns over the health of the US economy. [..]

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Technical Analysis – BTCUSD completes death cross

Posted on August 19, 2024 at 3:02 pm GMT

BTCUSD trades sideways in the past few sessions Sentiment deteriorates after multiple rejections at 50-day SMA Momentum indicators are skewed to the downside BTCUSD (Bitcoin) has been losing ground in August, experiencing a strong selloff on the back of a downbeat July NFP report. In contrast to stocks, Bitcoin has failed to recover notable ground as the 50-day simple moving average (SMA) has repeatedly repelled any upside attempts. Should the recent rangebound movement break to the downside, immediate support could be found at the April [..]

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Bitcoin stages comeback after sharp selloff – Crypto News

Posted on August 9, 2024 at 11:32 am GMT

Bitcoin took a hit by a wave of risk aversion in markets But it quickly bounced back as traders bought the dip Ethereum completes death cross on the daily chart   Bitcoin recoups losses Cryptocurrencies plummeted on the back of a broader selloff in risk sensitive assets, triggered by concerns over the health of the US economy after the latest downbeat NFP report. Last week, the crypto market suffered its worst weekly performance since the FTX collapse in 2022. Nevertheless, [..]

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Bitcoin retreats as traders unwind Trump trade – Crypto News

Posted on August 2, 2024 at 11:19 am GMT

Bitcoin slips after failing to claim the 70,000 psychological mark Probably due to profit taking as markets clip odds of a Trump win Crypto correlation with stocks remains relatively low   Bitcoin under pressure Bitcoin has been on a slippery slope this week after touching the $70,000 psychological mark, on Monday, for the first time since June 7. Much of this weakness is attributed to the risk off sentiment observed in markets, but it is certainly more than that. In [..]

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Technical Analysis – BTCUSD retreats from 1-month high

Posted on August 1, 2024 at 11:41 am GMT

BTCUSD pulls back after touching the 70,000 mark The bears eye the 50-day SMA as next crucial target Momentum indicators are skewed to the downside BTCUSD (Bitcoin) had a very strong July, with the price reaching the 70,000 psychological mark for the first time in more than a month. Since then, it has been experiencing a downside correction, which is on track to test the 50-day simple moving average (SMA). Should selling pressures persist, the price may face 63,400, a region that [..]

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Bitcoin displays high volatility as correlation with stocks frays – Crypto News

Posted on July 26, 2024 at 11:21 am GMT

Bitcoin rises on Friday in an overall volatile week Correlation between cryptos and tech stocks weakens Ethereum fails to capitalise on spot Ether ETF launch   Crypto market floods with fresh catalysts Bitcoin has exhibited some wild swings lately, while its traditional strong correlation with other risk-sensitive assets has ebbed significantly. The largest cryptocurrency by market cap managed to erase a significant part of its June slump as the odds of Donald Trump returning to the White house for a [..]

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Technical Analysis – ETHUSD trades flat after ETF debut

Posted on July 24, 2024 at 9:22 am GMT

ETHUSD has been rangebound in the past few sessions Spot ETF launch did not trigger much volatility Momentum indicators remain positively tilted ETHUSD (Ethereum) has experienced a strong rally in July, breaking above its 50-day simple moving average (SMA). However, the leading altcoin has been trading sideways for more than a week now, even though the short-term oscillators have been hovering deep in their positive zones. If the price extends its recent upleg, the recent resistance region of 3,560 could curb [..]

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