What Analysts Are Saying After Crypto Lender Celsius Paused Withdrawals; BTC Drops Below $23K

Bitcoin was recently trading at about $22,500, down more than 16% over the past day. As for major altcoins, the question wasn’t whether they were in the red but by how much. Ether, the second largest crypto by market cap, was changing hands at roughly $1,200, off over 17% during the same period and its lowest level since January 2021. CRO was off more than 20% at one point amid news that the crypto exchange would pare about 5% of its workforce, roughly 260 jobs. Wrapped bitcoin (WBTC) and TRX…

Wall Street sends BTC price to $30.8K as latest US dollar uptick fails

Bitcoin (BTC) showed strength at the June 8 Wall Street open as impatient traders waited for a trend to emerge. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin still in “no trade zone”  Data from Cointelegraph Markets Pro and TradingView showed BTC/USD jumping to near $30,850 after the opening bell, helping claw back some of the ground lost in an overnight correction. Choppy trading conditions prevailed within a familiar range on the day, however, leading to both long and short traders seeing increased risk on low timeframes. For popular trader Crypto…

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…

Bitcoin to set a new record 9-week losing streak with BTC price down 22% in May

Bitcoin (BTC) threatened to continue an unprecedented losing streak on May 29 as BTC/USD stayed in a right intraday range. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView Stocks correlation offers no comfort to BTC bulls Data from Cointelegraph Markets Pro and TradingView flagged the largest cryptocurrency heading for nine weeks of downtrend in a row — the most in history. Already at a dubious record, Bitcoin’s weekly chart closes provided the backdrop to weakness that continued to disappoint analysts over the weekend. Even stock markets, troubled by central bank tightening, managed…

JPMorgan sees higher BTC price potential, a16z unveils $4.5 billion crypto fund, and PayPal hints at more crypto and blockchain involvement: Hodler’s Digest, May 22-28

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Andreessen Horowitz closes $4.5 billion crypto fund amid market turmoil Venture capital player Andreessen Horowitz, or a16z, has unveiled a new $4.5 billion cryptocurrency fund. The a16z fund is the fourth of its kind and more than double the amount of its third crypto investment…

Bitcoin Price Resumes Decline, Why BTC Remains At Risk

Bitcoin spiked below the key $28,500 support zone against the US Dollar. BTC is declining and might continue to move down towards the $27,500 support. Bitcoin is moving lower and facing a major resistance near the $29,600 zone. The price is now trading below the $29,000 level and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $29,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down if it settles below the…

Bitcoin ‘good to go up’ after BTC price hits lowest since Terra crash

Bitcoin (BTC) recovered from a major dip at the May 26 Wall Street open as the market quickly exhausted buy support.  BTC/USD 1-day candle chart (Bitstamp). Source: TradingView Bitcoin volume surges with more expected Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dropping to $28,000 on Bitstamp — its lowest since May 12 and the Terra LUNA implosion.  Progress had already accelerated to the downside on the day, this culminating in a liquidity grab that sent 24-hour BTC liquidations to $117 million. BTC liquidations chart. Source: Coinglass A subsequent bounce…

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…

A homage to weird and wonderful BTC purchases

Happy Bitcoin Pizza Day! Before you dial for a Margherita to commemorate the world’s first real-world Bitcoin transaction, here’s a slice of trivia: What do a family holiday to Japan, a 50 Cent album, a steak dinner, and a framed cat photo all have in common?  They were all paid for with Bitcoin (BTC) by members of the Cointelegraph Bitcoin community! And just like the Bitcoin pizzas that cost 10,000 BTC, which are now worth more than $300 million, the community’s Bitcoin purchases have also skyrocketed.  Benjamin de Waal, the VP…

Weaker dollar lifts Bitcoin to $30.7K as analyst eyes 60% BTC dominance

Bitcoin (BTC) hit 48-hour highs overnight into May 20 as U.S. dollar weakness gave bulls some much-needed respite. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Dollar strength declines after 20-year record Data from Cointelegraph Markets Pro and TradingView recorded a high of $30,725 for BTC/USD on Bitstamp. Still struggling to flip $30,000 to reliable support, the pair nonetheless avoided a deeper retracement, helping calm fears that last week’s $23,800 capitulation event did not mark the bottom. The U.S. dollar index (DXY) provided the background to Bitcoin’s relatively solid performance, this…