BTC, ETH, XTZ, KCS, AAVE

After declining for eight successive weeks, the Dow Jones Industrial Average rebounded sharply last week to finish higher by 6.2%. However, Bitcoin (BTC) has not been able to replicate the performance of the United States equities markets and is threatening to paint a red candle for the ninth week in a row. A positive sign is that Bitcoin whales have been buying the market correction. Glassnode data shows that the number of Bitcoin whale wallets with a balance of 10,000 Bitcoin or more has risen to its highest level since…

BTC, BNB, XMR, ETC, MANA

The Dow Jones Industrial Average has declined for eight consecutive weeks, the first such losing streak since 1923. On May 20, the S&P 500 briefly fell into bear market territory, indicating that traders continue to sell risky assets in fear of a recession.  Due to its tight correlation with US equities markets, Bitcoin (BTC) has remained under pressure for many weeks. The bulls are attempting to push Bitcoin higher during the weekend and avert an even longer losing streak. Crypto market data daily view. Source: Coin360 Bitcoin’s performance in the…

BTC, ALGO, XMR, XTZ, THETA

The S&P 500 and the Nasdaq have declined for five consecutive weeks, indicating that traders continue to reduce exposure to risky assets. Bitcoin’s (BTC) close correlation with United States equity markets has resulted in its price remaining under pressure. Bitcoin has extended its decline during the weekend and is now on track for its sixth successive weekly loss, the first such occurrence since 2014. The weakness in Bitcoin has pulled down the entire crypto markets whose market capitalization has dipped below $1.6 trillion. Crypto market data daily view. Source: Coin360…

BTC, DOT, XMR, APE, CAKE

Bitcoin (BTC) and several altcoins are trading in a tight range during the weekend, suggesting that investors are undecided about the next directional move. Traders may be waiting for Wall Street to open before placing large directional bets because Bitcoin has been tightly correlated with the S&P 500 in the past few days. The sharp fall in the U.S. equity markets on April 22 suggests that investors are increasingly nervous about the hawkish stance of central banks. The market expects a 250 basis points rate hike by the U.S. Federal…

BTC, ETH, BNB, SOL, XRP, ADA, LUNA, AVAX, DOT, DOGE

Bitcoin (BTC) and most major altcoins are attempting to defend the immediate support levels, indicating that bears sense an opportunity and are looking to take control of the price action. The short-term price action does not seem to worry the long-term Bitcoin bulls who expect a massive return in the next few years. While speaking at the Bitcoin 2022 conference in Miami, ARK Invest CEO Cathie Wood reiterated her Bitcoin price target of $1 million by 2030. Meanwhile, telecom billionaire Ricardo Salinas said during the conference that BTC and Bitcoin…