Market Analysis

Bitcoin (BTC) starts a new week in a strange place — one which is eerily similar to where it was this time last year. After what various sources have described as an entire twelve months of “consolidation,” BTC/USD is around $42,000 — almost exactly where it was in week two of January 2021. The ups

Bitcoin (BTC) and most major altcoins remain under pressure as supports give way and bears sell at each rally attempt. This negative sentiment pulled the Crypto Fear & Greed Index to 10/100 on Jan. 8, one of its lowest readings ever. In comparison, 2021 had started on a bullish note with the reading hitting levels

After the popularity of DeFi, came the rise of nonfungible tokens (NFTs) and to the surprise of many, NFTs took the spotlight and remain front and center with the highest volume in sales, occuring at the start of January 2022.  Growing number of unique NFT buyers on Ethereum Source: Delphi Digital While 2021 became the

Within months after its launch in April 2021, Bored Ape Yacht Club (BAYC) has become one of the main reasons Wall Street should take the emerging nonfungible token (NFT) market seriously, thanks to its recent sales turnover of over $1 billion. Celebrities ape into BAYC For the uninitiated, BAYC is a collection of 10,000 cartoons

Stablecoins have emerged as a foundational part of the cryptocurrency ecosystem over the past couple of years due to their ability to provide crypto traders with an offramp during times of volatility and their widespread integration with decentralized finance (DeFi). These are necessary for the health of the ecosystem as a whole.  Currently, Tether (USDT)

Bitcoin (BTC) scooped liquidity at new lows on Jan. 7 as 2022 continued to deliver uninspiring price action.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader: BTC price should close above $42,400 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting its lowest levels since September overnight, reaching $40,938 on Bitstamp. The pair had initially

Bitcoin (BTC) briefly touched $43,000 prior to Wall Street opening on Jan. 6 as new market analysis offered bad news for bears.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView “Very similar to $30,000” Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it ranged after hitting its lowest levels in nearly six weeks. Amid six-month

On Wednesday, Nasdaq Composite logged its biggest daily loss since February last year. But for one of its listed companies, the day turned out to be extremely bullish. Blockchain stock soars The share value of BTCS Inc. (BTCS), a blockchain technology company, surged nearly 44% to $4.36 at the New York closing bell, thus becoming

Internet Computer (ICP) has entered 2022 with a bang. The ICP price rose by over 56% in the first five days of the new year, reaching a 30-day high of $38 on Jan. 5. Its massive upside move accompanied a spike in trading volumes, underscoring a strong and healthy bullish sentiment for now. ICP/USD daily

A key Bitcoin (BTC) metric has just reached its lowest levels since the months after the March 2020 market crash. As noted by popular analysts on Jan. 5, Bitcoin’s relative strength index (RSI) is printing a “hidden bullish divergence” on monthly timeframes — and if it plays out, they say, the result will be very

The prospects of Ren (REN) continuing its ongoing rebound to fresh highs appear slim as a classic bearish reversal pattern begins to emerge. Dubbed head and shoulders, the setup appears when the price forms three peaks, with the middle peak (called the head) longer than the other two peaks described as the left and right

Bitcoin (BTC) is in line for “explosive” price action as derivatives markets return to form in 2022, a new forecast states. In a tweet on Jan. 4, Vetle Lunde, an analyst at Arcane Research, confirmed that BTC denominated open interest (OI) had returned to all-time highs seen in November. Open interest demands “fireworks” within weeks

The bearish pressures facing the cryptocurrency market at the end of 2021 have continued into the first week of 2022 after the price of Bitcoin (BTC) dropped below $47,000 on Jan. 1 and the asset still faces stiff headwinds on the shorter timeframe charts.  Data from Cointelegraph Markets Pro and TradingView shows that, after climbing above

Yearn Finance (YFI) looks poised for a price correction after rising five days in a row to approach $42,000. Notably, an absence of enough buying volume coupled with overbought risks is behind the bearish outlook. The YFI price rally so far YFI price surged by a little over 47% in five days to $41,970 as

Bitcoin (BTC) bears lost out at the last minute as 2021 came to an end — and consensus is building around China again being the reason for weakness. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView China “last hammer” could now provide optimism on BTC Hours before the yearly close, BTC/USD dived $2,000 to lows of

Bitcoin (BTC) and the broader cryptocurrency market turned lower later in the day on Dec. 31, erasing intraday gains to cap off a highly successful year on a weaker note.  Market Update BTC price fell below $46,000 on Dec. 31 and was last seen hovering below that level, according to data from Cointelegraph Markets Pro