Bitcoin funding rates show demand to short BTC as $40K becomes resistance
The majority of traders expect fresh Bitcoin price losses after a difficult end to the week, data suggests.
The majority of traders expect fresh Bitcoin price losses after a difficult end to the week, data suggests.
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(Reddit Talk Live HERE: https://www.reddit.com/talk/3c56e081-4a34-4211-baf1-3dffd70b4edd) Join us for our voice chat AMA with r/banano at 5PM UTC / 12PM UTC / 1PM EDT / 10 AM PDT, the call will be available on both Reddit Talks on r/CryptoCurrency subreddit, and the official discord (discord.gg/cryptocurrencyofficial). P.S we may be giving out moons to those…
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On May 22, 2010, Laszlo Hanyecz agreed to pay 10,000 Bitcoins for two delivered Papa John's pizzas. These 10.000 Bitcoins would today be worth $395,000,000.00 + But do you really think he would've held that over the course of 10-12 years? Or would he panicked earlier and sold at $100, $1000, or even $5000. Even…
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During the last two weeks, statistics show the new crypto asset dedicated to the Bored Ape Yacht Club community (BAYC), apecoin (APE), has climbed more than 50% against the U.S. dollar. A few days ago, apecoin tapped an all-time high at $17.30 per unit and the crypto asset is now the 32nd largest in terms […]
A crypto wallet and an accessible Bitcoin ATM are prerequisites for using Bitcoin teller machines.
Bitcoin, the flagship crypto slipped below $40K after the Federal Reserve Bank of the United States made hostile comments. Powell stated on Thursday that at the upcoming Federal Open Market Committee meeting, the Federal Reserve will consider raising the benchmark interest rate by 50 basis points (0.5 percentage point). Bitcoin Slips Below $40K It was just a few days ago that the leading cryptocurrency hit a high of about $43,000, its highest level in over 10 days. This was an especially surprising price given that the asset had fallen to a monthly low of just $39,000 earlier this week. BTC, on the other hand, was roundly rejected at its local peak and quickly reversed course. The asset’s value plummeted to $40,000 in a matter of hours. As the bulls lose the $40,000 support level, a level that has yet to be established as a meaningful line this year, the most valuable coin has no shortage of negative mid-term predictions. Bitcoin’s price failed to retain the important levels of $41,500 and $40,000 despite a strong negative control. Bears are expected to aim for the $38,536 swing low from Monday, which is a clear objective for those still in the trade. If the swing low is breached, the BTC price may be disappointed and fall back to low $36,000. As a result, bitcoin’s market capitalization has dropped to $750 billion, after briefly surpassing $800 billion earlier this week. Related Reading | Why A “Boring” Bitcoin Could Be A Good Thing Buy Or Sell? BTC price has to open above $44,088.73 on Monday, as a Macron victory will cause the Greenback to fall further, allowing for further upside possibilities. Add to that the fact that news from Ukraine is becoming increasingly second-tier and receding into the background, indicating that talks are still ongoing and a solution might be reached at any time, as Russian military efforts are now focused solely on the west, rather than the entirety of Ukraine. The French election is the major event risk this weekend. If Le Pen, a far-right candidate, defeats Macron in the election, expect a huge market shift and shock on Sunday evening and Monday in the ASIA PAC session. Currently, investors are ‘waiting and watching’ to see how the supply-demand situation will react to the support area. Since late January, the BTC price has been trading in a ‘rising wedge pattern,’ as shown on the weekly chart. BTC/USD trades at $39k. Source: TradingView A bounce-back is expected at the price from the current level with the bulls targeting the 51,000 mark. However, in this course of the journey, the bulls must close above the 50-day EMA (Exponential Moving Average) at $43,071. Related Reading | Is Bitcoin Gonna See Another Big Drop Soon? Historical Trend May Say Yes Featured image from Pixabay, chart from Tradingview.com
MATIC fell to its long-term support level on Saturday, following a surge in price during Friday’s session. This came as both RUNE and LUNA also dropped, and traded by as much as 5% lower to start the weekend. Polygon (MATIC) During what has been a bearish start to the weekend, MATIC was one of the […]