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Bitcoin heads into November to tackle Fed rate decision day after BTC price cements its second best month of 2023. Bitcoin (BTC) has seen its highest monthly close since May 2022 after “Uptober” delivered near 30% BTC price gains . BTC/USD 1-month chart. Source: TradingView Monthly close boosts Bitcoin bull market hopes Data from Cointelegraph Markets Pro and TradingView confirms Bitcoin bulls successfully held on to upside into Nov. 1. After navigating a choppy mid-month trading environment, hodlers were treated to a finale similar in character to October’s initial breakout. Monitoring resource CoinGlass thus put October as the second best-performing month of 2023. Bitcoin gained 28.5%, trailing only January’s 39.6%. BTC/USD monthly returns (screenshot). Source: CoinGlass Reacting, popular trader Bluntz cautioned over discounting what amounts to a “high timeframe weekly range breakout.” “I believe this current one will be akin to the oct 2020 ones and the april 2019 one,” he wrote i...

Bitcoin miners and "smart money" are the investor cohorts to watch when it comes to late 2023 BTC price action, says Filbfilb. Bitcoin (BTC) is “much more likely” to stay rangebound until at least Q4, 2023, according to longtime market participant Filbfilb. In an X thread on Aug. 25, the popular analyst and co-founder of trading suite Decentrader told readers to expect flat BTC price action into year end. Filbfilb: BTC price approaching "critical time" Bitcoin may be disappointing bulls after its 70% Q1 gains, but for Filbfilb, there is little about BTC price action this halving cycle that is different to its previous ones. “Bitcoin is 1200 days since the previous halving. During this period, Bitcoin has historically consolidated,” he explained. Uploading various comparative charts, Filbfilb predicted that miners should begin to bid price higher into the Bitcoin halving — with this occurring around 1,276 days after each prior halving . “Miners are incentivized to ...

BTC price dropped below $30,000 again today, but the recent crab market price action is also backed by compelling investor activity on-chain. Bitcoin (BTC) price dropped below the $30,000 level on July 18, which given the developments of the last month, retail investors may not have expected, but does today’s downside move represent an upcoming shift in the trend?  Data suggests that over the longer-term it does not. To get to the positives first, Bitcoin price is still attempting to flip the $30,000 level to support after about 10 attempts since April of this year, but price is continuously finding buyers in the $28,000 to $25,000 range which buyers seem to be viewing as an accumulation zone. On-chain data from Glassnode’s Bitcoin Accumulation Trend Score supports this sentiment and could be a positive, depending on how investors’ look at things given that the behavior of investors at $30,000 BTC price mirrors the same accumulation behavior seen in the $28,000 to $24,000 zone and the...

Bitcoin has been busy "perfectly" mimicking its moves from after the March 2020 crash, QCP Capital argues. Bitcoin (BTC) “consolidation” could end by July, new research predicts as optimism over a BTC price breakout returns. In its latest market update on June 2, trading firm QCP Capital revealed a bullish bias on both Bitcoin and largest altcoin Ether (ETH). QCP Capital: Bitcoin consolidation "played out perfectly" Bitcoin price has been ranging between $26,000 and $31,000 since mid-March, but analysts are increasingly calling time on the sideways action. QCP Capital is among them, predicting a change of course as soon as the end of the month. This, it argues, is thanks to the United States debt ceiling “sideshow” vanishing, leaving Bitcoin closely mimicking its consolidation and breakout phase from 2020. “With the passage of the Debt ceiling bill through the House and Senate that extends the ceiling until Jan 2025, we can now all move on and not have to worry ab...

The circulating supply of SUI tokens will grow by nearly 15% by the end of 2023. The price of Sui (SUI) has dropped sharply after its market debut across leading cryptocurrency exchanges. On May 5, SUI price was $1.26 per token, down about 70% from its record high of around $4, established two days ago on Binance. Interestingly, on other exchanges like Kraken, the token's market top was $1.60 or lower, suggesting it was in "price discovery" mode after the launch. SUI/USD daily price chart. Source: TradingView Still, SUI maintains its overall market gains, up nearly 1,200% from its market debut. Early SUI price fundamentals SUI's initial uptrend draws support from traders who view Sui — a new entry into the long list of layer-one blockchain projects — as potentially more scalable than its rivals. Mysten Labs, Sui's original contributor, asserts that it will become the first internet-scale programmable blockchain platform thanks to its claims of processing about 3...

Another top-20 U.S. bank bites the dust, but Ethereum price fails to benefit from the event. Ether (ETH) price has shown weakness after failing to break above the $1,950 resistance on April 26. The subsequent correction drove ETH to $1,810 on May 1, nearing its lowest level in four weeks. Curiously, the movement happened while the First Republic Bank (FRB) was closed by the California Department of Financial Protection and Innovation. Curiously, the movement happened while the First Republic Bank (FRB) was closed by the California Department of Financial Protection and Innovation. The Federal Deposit Insurance Corporation (FDIC) entered into a purchase and assumption agreement with JPMorgan to protect FRB depositors, estimating a $13 billion loss. Regarding this latest major U.S. bank failure, UBS analyst Erika Najarian stated, "This deal does not change the rates, recession, and regulatory headwinds that regional banks are facing." ETH price ignores banking crisis Curiously...

Bitcoin and select altcoins have fallen below their respective support levels, a worrying sign that the bulls could be losing their grip. Bitcoin (BTC) and most major cryptocurrencies have pulled back from their recent local highs, signaling profit booking by traders. Is the current pullback a buying opportunity or has the trend turned lower? This is likely to be the question in every trader’s mind. Bollinger Bands creator John Bollinger said in a recent tweet that Bitcoin had turned down from the upper Bollinger Band and reached the middle bank, near its breakout level. He said it was a “logical place” and advised traders to “pay attention.” Daily cryptocurrency market performance. Source: Coin360 The correction could worry short-term crypto traders but for the long-term investors, who believe that a bottom is in, this could prove to be an opportunity to build their portfolio with cryptocurrencies of their choice. It is generally a good strategy to avoid buying on the way down and w...

Primary and secondary markets differ in securities, pricing, risk, volume, liquidity, timeframe and more. Stock and crypto markets are essential components of the global financial system. These markets provide a platform for investors to buy and sell financial assets, which helps companies raise capital for investment and growth. Moreover, the stock and crypto markets play a crucial role in determining the value of an asset. The market price of a stock or cryptocurrency reflects the collective sentiment of investors about its prospects, which can impact its future growth potential.  Lastly, the stock and crypto markets can be used as indicators of broader economic trends and sentiments. For instance, swings in the stock market can indicate changes in investor perceptions of the health of the economy, whereas moves in the cryptocurrency market can be caused by changes in the law, developments in technology or changes in consumer tastes. Investors can learn more about the state of the ...

The Alliance said it aims to focus on consumer protection, preventing naming collisions, fair and open use of intellectual property in the industry, and interoperability of blockchain naming systems, among other topics. The Web3 Domain Alliance, a member-led coalition that aims to provide a standardized framework for Web3 naming services, has announced 51 new members, including Blockchain.com, Rarible, Wyre, Bitdegree, WazirX, and Klever. These firms will help promote the development of the Web3 naming industry and the functioning of Web3 domain registries, according to the company We’re excited to announce that 52 new members are joining the Web3 Domain Alliance including @blockchain, @rarible, @sendwyre, @bitdegree_org, @WazirXIndia, and @klever_io, along with dozens of other naming systems, projects and companies! #W3DA Why this is great news [1/4] pic.twitter.com/rzSlYKYpEh — unstoppable.nft (@unstoppableweb) February 22, 2023 The Alliance is a member-led coalition focused on im...

Bitcoin’s tight consolidation near $25,000 suggests that bulls are holding on to their positions in anticipation of a breakout to a new 2023 high. Bitcoin (BTC) rose more than 11% last week and is trading near the pivotal resistance at $25,000. Monitoring resource Material Indicators highlighted in its latest update that large volume traders were “thinning” overhead resistance, which could spark a rally. As the prices rise, retail traders may get sucked in and the whales could use this opportunity to sell their positions that were accumulated at lower levels. Every uptrend witnesses several pullbacks and Bitcoin is no exception. However, the price action of the past several months shows a large basing pattern, which may be about to break out to the upside. If that happens, Bitcoin will signal a potential trend change. Daily cryptocurrency market performance. Source: Coin360 There are very few occasions when all the indicators turn bullish. If traders keep waiting for that to happen, ...

The 200-day moving average is coming back to haunt BTC bulls after staying as resistance for over a year. Bitcoin (BTC) saw no relief at the Feb. 10 Wall Street open as United States equities dipped further. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView "All eyes" on 200-day moving averages Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it tracked sideways following a volatile 24 hours’ trading. Existing market weakness was compounded by an announcement from U.S. regulators concerning Ethereum (ETH) staking, with major crypto exchange Kraken forced to suspend its staking operations and pay a $30 million fine. Bitcoin fell to three-week lows as a result, with traders eyeing potential retests of $20,000 and even $19,000 to come. On the day, stocks offered little by way of comfort to risk asset traders, with the S&P 500 opening down to cross a significant line in the sand left over from late last year. S&P 500 $SPX gaps below 4,080...

GRT has turned technically overbought, but its long-term potential remains skewed to the upside thanks to healthy network fundamentals. The Graph (GRT) price slipped on Feb. 8 alongside a broader correction across the top crypto assets. GRT price skyrockets with other data management tokens GRT’s price plunged nearly 14.5% intraday to $0.18, showing signs of short-term upside exhaustion after rising over 200% earlier in the year. At its sessional high, the token was changing hands for $0.23 on Feb. 7, its highest level in nine months GRT/USD daily price chart. Source: TradingView Buying flocked to the GRT market amid a relatively stronger risk-on mood, led by the United States Federal Reserve’s slower interest rate hikes and a strong recovery witnessed in the Bitcoin (BTC) market, which typically influences altcoins into tailing the trend. The GRT price rally also accompanied similar gains across data management platform tokens. This sector’s market capitalization doubled so far in ...