Bitcoin Bulls Keeps Pushing, Why Rally Isn’t Over Yet

Bitcoin settled above the $40,000 level against the US Dollar. BTC is now rising and could accelerate further above the $42,650 resistance zone. Bitcoin started a strong increase above the $40,000 resistance zone. The price is trading well above $40,000 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $41,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to rise if it clears the $42,650 resistance zone in the near term. Bitcoin Price…

First Mover Asia: Interest Rate Hikes in the Future? Crypto Rally Shorts Out

Good morning. Here’s what’s happening: Market moves: Bitcoin gave up early gains after Powell’s hawkish comments. Technician’s take: Long-term momentum remains weak and BTC is at a critical point. Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis. Prices Bitcoin (BTC): $36,826 -0.3% Ether (ETH): $2,470 +0.7% Top Gainers Asset Ticker Returns Sector Polygon MATIC +5.5% Smart Contract Platform Dogecoin DOGE +5.1% Currency Solana SOL +3.0% Smart Contract Platform Top Losers Asset Ticker Returns Sector Cosmos ATOM −5.8% Smart Contract Platform Internet Computer…

Bitcoin Rally Fades After Fed Signals Upcoming Rate Hike

“Short-positioned traders are dominating the derivative market. This indicates that bitcoin’s bounce was driven by [the spot market] rather than derivatives, which is confluent with the significant bidding seen on Coinbase,” Marcus Sotiriou, analyst at the UK-based digital asset broker GlobalBlock, wrote in an email to CoinDesk. Author: Damanick Dantes Source link

Altcoins book 40% gain after Bitcoin and the crypto market enter a relief rally

Crypto investors are beginning to feel a sense of hope once more on Jan. 26 as the wider cryptocurrency market is seeing green and Bitcoin (BTC) price trading near $38,000. Even with the breakout, traders are advising caution ahead of the Federal Open Market Committee meeting where the Federal Reserve is expected to unveil their plans for hiking interest rates.  As bullish sentiment begins to return, several altcoin projects have seen their prices spike more than 41% as dip buyers sought to secure a position ahead of a possible market…

Why Bitcoin Needs To Clear $42,500 For Hopes of a Fresh Rally

Bitcoin found support near the $41,200 zone against the US Dollar. BTC must clear $42,500 to start a recovery wave in the near term. Bitcoin extended decline and tested the $41,200 support zone. The price is still trading below $42,500 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $42,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a decent recovery if there is a clear move above the $42,500 resistance. Bitcoin Price…

MXC’s 200% gain hints that LoRaWAN IOT mining projects could rally in 2022

Cryptocurrency mining has become a hot topic of conversation over the past couple of years due to its lucrative nature and the impact the industry has on the environment.  The emergence of Web3 and the increased presence of Internet of Things (IoT) devices has led to a new class of low-cost mining protocols with low-power network technology. These include LPWAN or LoRaWAN which are designed to transmit low bit rate data over long distances. One such protocol that has been gaining traction in recent months is MXC, a Web3 infrastructure…

Retail Investors are Flooding into Bitcoin as Likelihood of Explosive Rally Grows

Bitcoin’s price has been caught within a strong uptrend throughout the past several weeks, although this momentum is showing some signs of stalling as the cryptocurrency consolidates within the upper-$11,000 region. Analysts are now noting that BTC may soon see a strong uptrend due to inflows of capital from retail traders who are just entering the market for the first time. This group of investors may provide Bitcoin with a strong base to grow upon and is indicated by the number of addresses holding over 1 BTC coupled with BTC’s expanding…

Ether Rockets 50% in 5-Year Anniversary Month: What’s Behind the Rally?

The price of Ethereum’s Ether token has seen strong momentum in July. Since the start of the month, ETH has climbed by 50% from $225.5 to $340 on Coinbase. It coincides with a five-year anniversary for the dominant smart contracts blockchain protocol. There appear to be two key factors fueling the rally of ETH. First, the anticipation of the market towards ETH 2.0 has been continuously building. Second, the explosive growth of the decentralized finance (DeFi) market has upheld the momentum of Ethereum. ETH/USD surges from $225.5 to $340 from…