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Cryptocurrencies

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Trump’s crypto U-turn sends Bitcoin flying above $60,000 – Crypto News

Posted on July 19, 2024 at 1:07 pm GMT

Trump trade becomes a new tailwind for cryptocurrencies Bitcoin surges to one-month high, briefly surpassing $66,000 But is this a temporary boost, as bias turns neutral again? An unexpected turn With the US presidential campaign now well underway, it was only a matter of time before election fever would hit cryptocurrencies.  Many traders now see a victory for Donald Trump at the November election as a foregone conclusion. But in terms of surprises, what’s been more unpredictable for the crypto [..]

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Technical Analysis – BTCUSD reclaims 50-day SMA

Posted on July 18, 2024 at 12:30 pm GMT

BTCUSD jumps to a fresh 1-month high The break above 50-day SMA improves technical outlook Momentum indicators are heavily tilted to the bullish side BTCUSD (Bitcoin) has come under significant buying pressure in the past few sessions, surpassing both its 50- and 200-day simple moving averages (SMAs). On Wednesday, the price stormed to a fresh one-month high a tad above the 66,000 handle before paring some gains. Should Bitcoin edge up further, the bulls could attack the April resistance of 67,270. Even higher, [..]

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Bitcoin decouples from stocks amid supply overabundance – Crypto News

Posted on July 12, 2024 at 11:46 am GMT

Bitcoin struggles as governments and Mt. Gox clients offload coins Ethereum under pressure after ETF launch is delayed Bitcoin’s correlation with tech stocks ebbs, weaker dollar aids   Supply overhang rattles Bitcoin The crypto market has not been in its best shape lately, with Bitcoin shedding a significant part of its 2024 rally and falling below its 200-day simple moving average (SMA) for the first time since October 2023. Clearly, there has been a supply-demand imbalance as mostly Germany but also the US have [..]

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Technical Analysis – BTCUSD is held down by 200-day SMA

Posted on July 11, 2024 at 2:45 pm GMT

BTCUSD dropped to a fresh 4-month low last week Attempts for recovery hit a wall at 200-day SMA Oscillators improve slightly, but still negatively tilted BTCUSD (Bitcoin) has been experiencing a strong selloff since the beginning of June, retreating to its lowest level since February 27. Although the price managed to find its feet and attempted to recoup some losses, the 200-day simple moving average (SMA) has been acting as an impenetrable ceiling. Should Bitcoin violate that crucial hurdle, immediate resistance could [..]

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Bitcoin plummets to a 4-month low, diverging from stocks – Crypto News

Posted on July 5, 2024 at 11:49 am GMT

Bitcoin collapses to its lowest level since February 27 Stocks hit new highs, depicting waning correlation with cryptos Selling of Mt Gox refunds and government-seized coins persists   Cryptos diverge from stocks Bitcoin has been on a slippery slope in the past four sessions, dropping from $63,220 to a fresh four-month low of $53,520, on Friday. This weakness has spilled over to the broader crypto space, with Ethereum being 18% down in the same period, while many altcoins have experienced [..]

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Technical Analysis – BTCUSD battles with 200-day SMA

Posted on July 4, 2024 at 12:46 pm GMT

BTCUSD drops to a fresh 2-month low Currently tests the crucial 200-day SMA Momentum indicators hover near oversold territories BTCUSD (Bitcoin) has been experiencing a extensive selloff since the beginning of June, forming a series of fresh lows. Despite a minor rebound last week, the price’s decline has accelerated in the past couple of sessions, with the bears challenging the 200-day simple moving average (SMA) on Thursday. Should Bitcoin violate that crucial hurdle, the April bottom of 56,483 could act as [..]

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Bitcoin consolidates around $60,000 as selloff cools – Crypto News

Posted on June 28, 2024 at 11:29 am GMT

Bitcoin dips to lowest level since May 3 before paring losses Cryptos’ correlation with equities has weakened lately Ethereum and Solana boosted by ETF speculation Bitcoin under selling pressure The crypto market is clearly not in its best shape lately, with Bitcoin shedding a significant part of its 2024 rally and temporarily breaking below the $60,000 psychological mark to a more than one-month low. The bad news started when the Fed’s updated dot-plot indicated one rate cut for the year as the [..]

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Technical Analysis – BTCUSD bounces off 1-month low

Posted on June 27, 2024 at 9:47 am GMT

BTCUSD drops to its lowest level since May 2 Despite initial rebound, price remains under selling pressure Momentum indicators hover near oversold territory BTCUSD (Bitcoin) has been experiencing a vast selloff since the beginning of June, temporarily breaking below the 60,000 psychological mark. Although the price managed to halt its retreat just shy of the 200-day simple moving average (SMA), the bears continue to hold the upper hand. Should Bitcoin fall back below the 60,000 psychological level, immediate support could be found [..]

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Bitcoin falls to 1-month low, diverging from stocks – Crypto News

Posted on June 21, 2024 at 10:49 am GMT

Bitcoin drops to its lowest level since May 15 Cryptos’correlation with equities has weakened lately On Thursday,spot Bitcoin ETF debuted in Australia   Bitcoin slides below $65,000 Cryptocurrencies have come under selling pressure in the past month, with Bitcoin dropping to a fresh one-month bottom on Friday. The prospect of interest rates remaining higher for longer after the Fed’s latest dot-plot indicated one rate cut for the year has applied upward pressure both on the US dollar. In theory, such a development would [..]

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Technical Analysis – ETHUSD bounces off 50-day SMA

Posted on June 20, 2024 at 1:38 pm GMT

ETHUSD halts retreat at the 50-day SMA Regains some ground after posting a double bottom Momentum indicators turn neutral-to-positive ETHUSD (Ethereum) experienced a strong rally in May, approaching its 2024 highs before undergoing a strong pullback. However, the latest decline appears to be on pause for now as the 50-day simple moving average (SMA) has held its ground twice in the past 10 days. If the latest bounce off the 50-day SMA triggers a move to the upside, the April resistance of [..]

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