Bitcoin (BTC) and the United States equities markets are trying to start the week on a positive note but some analysts are skeptical about the short-term prospects of the markets. According to Bloomberg Intelligence senior macro strategist Mike McGlone, Bitcoin will face significant resistance at $25,000. McGlone believes that it “may be a while before buy-and-hold types gain the upper hand.” It also looks like Bitcoin whales, unique entities owning 1,000 Bitcoin or more, are also not convinced of the recovery in the crypto markets. According to Glassnode, Bitcoin whale numbers have fallen to 1,663, which is well below the …

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. …

The United States dollar index (DXY) has started a strong recovery and its rise is putting pressure on Bitcoin (BTC) and the S&P 500 (SPX) index. The market participants will be keenly watching for any insights on future rate hikes when the Federal Reserve Chairman Jerome Powell speaks before the Economic Club of Washington on Feb. 7. Meanwhile, Bitcoin’s 43% rebound in January has improved sentiment among small investors. Crypto analytics firm Santiment said that the number of Bitcoin addresses holding 0.1 Bitcoin or less soared by 620,000 to hit 39.8 million, the highest level since Nov. 19. With the …

Bitcoin's (BTC) price has been trading above $22,500 for 12 days. Of course, this situation can change even if Federal Reserve chair Jerome Powell issues positive statements about the economy in today’s post-FOMC presser. Even if the decision matches the market consensus, the post-meeting statement should be investors' primary area of focus. Specific areas to focus on would be clues for the next meeting in March. Troubling news for the largest stablecoin Tether (USDT), could also cause a meaningful impact after a Celsius bankruptcy examiner report showed that "Tether's exposure eventually grew to over $2 billion" in Sep. 2021. However, …

Traders tend to lighten up positions before important events because they hate uncertainty. The United States Federal Reserve’s policy decision is on Feb. 1, where the central bank is expected to hike rates by 25 basis points. Market observers will keenly watch for any hints about how high the rates could go. That could be one of the reasons for the profit-booking in Bitcoin (BTC) and select altcoins on Jan. 30. Bitcoin’s sharp recovery in January could also be signaling the start of a new bull market, according to certain on-chain metrics. The Profit and Loss Index from on-chain analytics …

Bitcoin’s (BTC) price has risen about 37% year-to-date and is not showing any signs of slowing down. The S&P 500 index (SPX) has also made a winning start to the year but has seen a relatively muted rally of roughly 4%. While the price of risky assets are rising, the United States dollar index (DXY), perceived as a safe haven, extended its downtrend and declined more than 1% in January. The change in sentiment toward risky assets may have been triggered by expectations that the U.S. Federal Reserve could slow down its rate hikes as inflation cools off. Some analysts …

Risk assets have started the new year on a strong note. The S&P 500 (SPX) and the Nasdaq closed in the positive for the second successive week and also notched their best weekly performance since November. Bitcoin (BTC) led the recovery in the crypto markets with a sharp 21% rally last week. That sent the Bitcoin Fear and Greed Index into the neutral territory of 52 on Jan. 15, its highest since April 5, 2022. However, the index has given back its gains and is again back into the Fear zone on Jan. 17. The strong rally in Bitcoin has …

Investors across asset classes have been keeping a close watch on the United States Federal Reserve’s monetary policy because that sets the stage for a risk-on or a risk-off environment. The strong rally in the U.S. stock markets on Jan. 6 and in cryptocurrencies over the weekend suggests that market observers anticipate the Fed to slow down its frantic pace of rate hikes. The optimism was fuelled by the greater-than-expected slowdown in wage gains in the December jobs report and the first contraction in U.S. services industry activity since May 2020. The next trigger that may influence the markets could …

The S&P 500 index (SPX) fell 19.4% and the Nasdaq nosedived 33.1% in 2022, recording the worst performance since 2008. The crypto markets also had a horrendous year with Bitcoin (BTC) falling roughly 65% in 2022. In comparison, the United States dollar, which is perceived to be a safe haven, rallied nearly 9%, its best year since 2015. There are several green shoots visible for the cryptocurrency sector for 2023. The U.S. dollar index (DXY), which usually moves in inverse correlation with Bitcoin may have topped out. This increases the likelihood that select cryptocurrencies may be close to forming a …

Gold and stocks have underperformed in 2022, but the year has been difficult for Bitcoin (BTC) investors, in particular. Worst year for Bitcoin since 2018 Bitcoin price looks prepared to close 2022 down nearly 70% — its worst year since the crypto crash of 2018. BTC's depressive performance can be explained by factors such as the Federal Reserve hiking interest rates to curb rising inflationary pressures, followed by the collapse of many crypto firms, including Terra, Celsius Network, Three Arrow Capital, FTX, and others. Some companies had exposure to defunct businesses, typically by holding their native tokens. For instance, Galaxy …

The cryptocurrency markets are trading at record low volatility as investors have largely stayed away during the holiday season. That could be because investors are unsure about the cryptocurrencies that could lead the next bull run. Cumberland senior research analyst Steven Goulden said in a “Year in Review” report that he expects four “emerging narratives” to lead the crypto space over the next six to 24 months. Goulden anticipates growth in nonfungible tokens, Web3 apps and games. He expects export-oriented nations to add Bitcoin (BTC) and Ether (ETH) as reserve assets and if that happens, it could be a huge …

The consumer price index (CPI) data on Dec. 13 and the outcome of the Federal Reserve meeting on Dec. 14 could influence the United States stock markets and the cryptocurrency markets in the near term. Traders are likely to play it safe and not take large directional bets until the CPI print because any nasty surprise could produce a sharp knee-jerk reaction. Some analysts believe that Bitcoin (BTC) could fall further before it hits a bottom, but Arthur Hayes, the former CEO of crypto derivatives platform BitMEX, thinks that Bitcoin may have passed its worst phase for this cycle. While …