Cryptocurrency Market Analysis

Ether (ETH), the largest altcoin by market capitalization, hit new all-time highs on April 22 despite a bearish phase sweeping through Bitcoin (BTC) and other cryptocurrencies.ETH/USD 1-hour candle chart (Bitstamp). Source: TradingViewEther's price claims new recordCointelegraph Markets Pro and TradingView showed ETH/USD hitting $2,600 on April 22 for the first time, on the back of 9.2% daily gains.Against Bitcoin, Ether was also on fire, hitting 0.047 [...]

After weeks of Bitcoin (BTC) sell-offs, high-net worth Bitcoin holders, or whales, are finally back to buying. Their buying activity not only picked up when BTC's price broke out of the two-months ascending triangle to new all-time highs, but it has also stayed intact since the price crash on April 18.Whales have come back to accumulate BitcoinWhales' continuous buying activity comes at a time when the [...]

SafeMoon, the token on Binance Smart Chain widely recognized as the Tiktok meme coin, is seeing massive volatility after its massive gains in the past week.According to the data from Dex.Guru, which tracks alternative cryptocurrencies on various blockchains, the price of SafeMoon dropped by nearly 50% in the last two days from $0.0000074 to $0.0000045.Does the SafeMoon rally have any strength?SafeMoon is a cryptocurrency on [...]

Bitcoin (BTC) revisited recent lows near $52,000 on April 22 as sustained weakness continued for the largest cryptocurrency.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingviewTraders await altcoin "magic"Cointelegraph Markets Pro and Tradingview revealed a lackluster day for BTC traders as BTC/USD briefly dipped below $53,000 before stabilizing around $1,000 higher. The move came as Bitcoin was about to lose its market cap dominance supremacy to altcoins in what [...]

The arrival of institutional investors and the rise of decentralized finance (DeFi) has been an incredible boon for the entire cryptocurrency sector but it has also highlighted a number of persistent limitations that many blockchain networks encounter when faced with surges in activity and the need to scale.  High fees and slower transaction times on the Ethereum (ETH) network have left the door open for new [...]

In the frenzy of a bull market where new projects are popping up daily and social media users scour their feeds to try and catch the next moon coin before it pumps and dumps, it can be a challenge to find projects with long term viability that also have significant upside potential. One token that has undergone several significant price breakouts in 2021 is Syntropy (NOIA), [...]

The price of Ether (ETH) fell by 19.6% on April 18, resulting in the quick liquidation of $1 billion in long futures contracts. Despite the size of this record liquidation and its impact on Ether's price, the futures open interest remained above $20.5 billion, which is 5% below the previous month.After the sell-off, there were signs that investor sentiment deteriorated, which was evident in derivatives [...]

There is a Reddit post from August 2013, in which a purported time traveler shared a dystopian future brought on by the proliferation of Bitcoin in the year 2025. “Things are looking bleak here, and some of you will carry blood on your hands,” the time traveler warned readers, telling them of a world of vast inequality and economic decline. The Bitcoin “earlies” live in [...]

The chief investment officer of investment giant Guggenheim has repeated his warning that Bitcoin (BTC) will crash to $20,000.In an interview with CNBC on April 20, Scott Minerd warned again that Bitcoin could lose half of its value in a pullback.Familiar Bitcoin bear target resurfaces“Given the massive move we’ve had in Bitcoin over the short run, things are very frothy, and I think we’re going [...]

Ether (ETH) price is seeing green in its Bitcoin (BTC) pair on April 21, reaching the highest levels since early February. Given the technical breakout of ETH/BTC, traders are beginning to expect a strong rally in the foreseeable future.During the first two weeks of April, ETH was outperformed by Binance Coin (BNB), the native token of Binance Smart Chain.The high transaction fees on Ethereum coupled [...]

Bitcoin (BTC) is seeing a tsunami of new user adoption as a backdrop to prices likely bottoming at around $52,000, say analysts.In a series of tweets on April 20, statistician Willy Woo led calls for calm about Bitcoin's recent price dip and subsequent lingering $9,000 below recent all-time highs.$1 trillion cap has created new "line in the sand"Reiterating previous assertions, Woo argued that buyer support [...]

Bitcoin (BTC) price is making a slow recovery after facing a sharp 16% correction in the early hours of April 18.While some analysts blame a 9,000 BTC deposit at Binance, others focused on the hashrate drop caused by a coal mining accident in China. Regardless of the reason behind the $51,200 low, options market makers were forced to adjust their exposure.Typically, arbitrage desks seek non-directional [...]

As the 2021 bull market cycle unfolds with decentralized finance and nonfungible tokens, or NFTs, being two of the biggest driving forces for growth, old-school cryptocurrency projects have quietly been climbing higher as their established track records begin to attract traders who value a longer history of success.One such project that has been gaining traction in recent weeks is Monero (XMR), a privacy-focused project that recently [...]

The price of Bitcoin (BTC) was struggling to stay above $56,000 on April 20, which whale clusters pinpointed as a crucial short-term price level.Yet, the U.S. dollar index (DXY) has continued to fall in recent weeks, dropping to its lowest point in seven weeks to 90.85.Bitcoin (blue) vs. DXY (orange) Source: TradingViewWhy is this a concerning trend?Alternative stores of value in the likes of Bitcoin [...]

Bitcoin (BTC) saw a staunch comeback on Tuesday thanks to fresh bullish news from PayPal combined with solid on-chain indicators. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView#Doge420 aims to sprout $4.20 DogecoinCointelegraph Markets Pro and TradingView showed BTC/USD bouncing to $56,000 during Tuesday trading, hours after hitting local lows of $53,300.With volatility still present, the pair nonetheless looked increasingly reliable above $52,000, a significant support zone and [...]

Bitcoin has dropped below $54,000 on April 20 while whale clusters suggest that the key areas for BTC to reclaim in the short term are $56,274 and $55,172.The cryptocurrency market began to drop once again after an initial relief rally on Monday. Bitcoin dropped from $57,400 to sub-$54,000, losing the $55,172 whale cluster support level.Bitcoin whale clusters. Source: WhalemapIn the near term, it is crucial for [...]

Few traders would argue against the fact that Bitcoin (BTC) is in a bull market, but there is less consensus on whether the market is in the midst of an "altcoin season." A quick view of Crypto Twitter shows the schism between traders who are certain we are halfway through alt season and those who believe it has yet to begin.Typically, traders rely on a [...]

The last ten days have been nothing short of impressive for Dogecoin (DOGE), which rallied by more than 500% to a new all-time high at $0.45. Even after a 15% correction, the powerful rally catapulted Dogecoin’s market capitalization above well-established financial institutions like ING, Barclays, and Credit Agricole.The meme-driven cryptocurrency was pushed higher by multiple Twitter posts from Elon Musk, the CEO of Tesla and [...]

Bitcoin (BTC) may be flagging, but one cryptocurrency could not be less fazed by the market downturn, hitting new all-time highs.Dogecoin (DOGE), the altcoin based on a Shiba Inu meme, passed $0.40 for the first time on April 19, capping weekly gains of 400%.New all-time highs keep coming for DOGEThe rags-to-riches moves by DOGE throughout 2021 have wowed pundits and left former bagholders weeping. Now, [...]

The price of Bitcoin (BTC) is recovering after a strong sell-off during the weekend caused by cascading liquidations in the futures market.BTC/USDT 15-minute price chart (Binance). Source: TradingView.comTraders are pinpointing three levels as the critical price areas to watch in the short term: $51,200 as the major support, $60,300 as the important resistance, and $57,000 as the near term area of interest for sellers.It is [...]

Bitcoin (BTC) is beginning a new week grinding back to $60,000 as the shock of a weekend price crash settles.After dropping to as low as $52,000 in a snap sell-off event, Bitcoin has spent the past two days slowly recovering its losses. What’s next?Cointelegraph presents five factors to consider as a new trading week gets underway and cryptocurrency holders across the board nurse their wounds.Stocks [...]

The price of Binance Coin (BNB), the native cryptocurrency of Binance and Binance Smart Chain, rallied by more than 20% in the last 24 hours. BNB/USDT 15-minute price chart (Binance). Source: Tradingview.comThe swift recovery comes after a market-wide correction on April 18, during which major cryptocurrencies including Bitcoin (BTC) and Ether (ETH) saw a sharp decline. ETH price, for instance, declined from $2,400 to as [...]

The funding rate of Bitcoin (BTC) has dropped to levels not seen since September 2020 as the price of Bitcoin plummeted below $52,000 on April 18. Quant trader and analyst Lex Moskovski says it shows fear has returned to the market.According to the data from Glassnode, the average Bitcoin futures funding rate across all exchange dropped to as low as around -0.03% on SundayWhat is funding [...]

Bitcoin (BTC) fell to sudden lows of $52,000 on April 18 in a timely reminder of how price action often follows hash rate. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewChina, US rumors lead the BTC sell-offCointelegraph Markets Pro and TradingView showed a brutal hour for Bitcoin bulls everywhere early on Sunday as the market went from $59,000 to $52,000 in minutes.Having lost $60,000 support earlier in the [...]

Binance Smart Chain (BSC) has rapidly risen to prominence in 2021 as high transaction costs and congestion on the Ethereum (ETH) network led smaller-size investors to search for cheaper alternatives.One of the top choices to earn a yield on the BSC is Venus (XVS), an algorithmic money market and synthetic stablecoin protocol that provides a lending and borrowing solution for the decentralized finance (DeFi) ecosystem. [...]