Market Analysis

Nonfungible tokens have largely been acquired as proof-of-profile pictures (PFPs) that represent a brand, embody culture or ultimately, reflect as a static status symbol. Blue-chip NFTs like Bored Ape Yacht Club or Cool Cats were not originally backed by any tangible utility other than speculative value and hype, along with the promise of an illustrative

XRP addresses that hold at least 10 million native units have returned to accumulating more in the past three months, a similar scenario that preceded a big rally for the XRP/USD and XRP/BTC pairs in late 2020. The return of XRP ‘mega whales’  A 76% spike in XRP “mega whale” addresses since December 2021 has been

The Bitcoin network has hit yet another all-time high in mining difficulty after a steady climb since last July’s lows. On-chain analysis tool CoinWarz indicated on Feb. 18 that mining difficulty reached a new high of 27.97 trillion hashes (T). This is now the second time in three weeks that Bitcoin (BTC) has hit a

Bitcoin (BTC) dipped below $43,000 on Feb. 17 as another day on ranging compounded hopes for an incoming breakout. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Fed teases over rate hikes Data from Cointelegraph Markets Pro and TradingView showed BTC/USD acting in a slightly widened zone with $44,500 as a ceiling over the past 24 hours.

The cryptocurrency market remains in a state of flux as investors are once again focused on what steps the U.S. Federal Reserve might take to combat rising inflation and markets wobble as the situation in Ukraine remains tense. Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC) has hovered around

A recent price recovery in the Bitcoin (BTC) market risks getting erased due to an eerie fractal from 2018. Bitcoin price cycle similarities First spotted by CryptoBullet, an independent market analyst, the fractal shows Bitcoin recreating an inverse head-and-shoulders (IH&S) pattern that preceded its price decline toward $3,100 later in December 2018. As a result,

It is not the first time the U.S. Securities and Exchange Commission (SEC) rejected proposals for a Bitcoin spot exchange traded product (ETP), but efforts continue to be made by different financial institutions. The recent attempt made by Cboe BZX Exchange on Jan. 25 to list the Fidelity Wise Origin Bitcoin Trust as a Bitcoin

U.S. cryptocurrency exchange Coinbase (COIN) has seen its shares dive 5% pre-trading after a calamitous advertising debut at the Super Bowl 2022. Data from Cointelegraph Markets Pro and TradingView showed COIN preparing to open at $194.53 before Monday’s Wall Street open. Snowden: Coinbase crash “so very internet” The Super Bowl 2022 has been an event

“Sophisticated passive buying” on Bitcoin (BTC) spot exchanges coincides with the trend of BTC leaving exchanges to cold storage. Adjusted Bitcoin supply shock. Source: Willy Woo The price recovery witnessed in the Bitcoin market across the last two weeks coincided with a rise in hodlers and speculative investors selling their coins, according to data provided

Polygon (MATIC) has dropped by more than 40% from its record high of $2.92, established on Dec. 27, 2021. But if a classic technical indicator is to be believed, the token has more room to drop in the sessions ahead. MATIC price chart painting classic bearish pattern MATIC’s recent rollover from bullish to bearish, followed

Bitcoin (BTC) has a “possibility” of winning back more lost ground this month, but a retest of $40,000 may test bulls beforehand. In its latest market update on Feb. 11, trading suite Decentrader voiced cautious optimism over BTC price action. Derivatives turn complementary After rallying above $45,500 on the back of U.S. economic data, BTC/USD

Bitcoin (BTC) trended toward a $40,000 retest on Feb. 12 as BTC price action bore out analysts’ predictions. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader hopes to avoid ‘ugly’ weekly close Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching local lows of $41,741 on Bitstamp Saturday before a rebound over $42,000. An about-turn

The price action for Bitcoin (BTC) continues to tantalize investors and once again, concerns over the state of the global economy and rising inflation have prompted warnings that the Fed’s upcoming interest rate hikes could do more damage then good to the state of the market. Data from Cointelegraph Markets Pro and TradingView shows that

Bitcoin (BTC) hovered above $43,000 on Feb. 11 as volatility waned after a fresh local peak. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Support and resistance zones narrow Data from Cointelegraph Markets Pro and TradingView showed BTC/USD awaiting a trigger to test either support or resistance nearby as Wall Street opened on Feb. 11. The largest

Since launching in 2018, Axie Infinity has amassed over 2 million daily active users (DAUs) and its decentralized exchange, Katana has a market cap of $5.5 billion, but this growth has not come without challenges. Axie Infinity’s in-game token, Smooth Love Potion (SLP) decreased nearly 93% from it’s all-time high in July 13, 2021 of

Bitcoin (BTC) fell immediately on the latest United States consumer price index (CPI) data on Feb. 10 in a surprise move that deflated bulls.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Spot the Bitcoin bear trap Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it dropped $1,800 after January’s CPI print came in at