#Bitcoin gained 11.5% last week to close at $24.5K. The price stabilised near this level at the start of the new week. The cryptocurrency's market capitalisation rose 9.3% last week to $1.12 trillion.
Almost all of the growth came in the first half of the week, with smaller gains in the final days.
Sunday saw a fresh attempt to push BTCUSD above $25K. However, the bulls failed to form a nice weekly candle to close above a significant level, leaving the rate below the 200-week average and touching the 50-week. Buyers may be more cautious in the coming days as a death cross formed on the weekly timeframes last week, although it should not be taken as a sell signal.
#Ethereum grew 9.5% to $1680. Other leading altcoins in the top 10 gained between 1.2% (#XRP) and 16.7% (#Polygon). The exception was #BNB (-2.3%).
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Almost all of the growth came in the first half of the week, with smaller gains in the final days.
Sunday saw a fresh attempt to push BTCUSD above $25K. However, the bulls failed to form a nice weekly candle to close above a significant level, leaving the rate below the 200-week average and touching the 50-week. Buyers may be more cautious in the coming days as a death cross formed on the weekly timeframes last week, although it should not be taken as a sell signal.
#Ethereum grew 9.5% to $1680. Other leading altcoins in the top 10 gained between 1.2% (#XRP) and 16.7% (#Polygon). The exception was #BNB (-2.3%).
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#Bitcoin fell 6.9% last week to close at $26,900, while #Ethereum lost 6.2% to $1800. Top-10 leading altcoins lost between 3.1% (#Cardano) and 12.2% (#Polygon).
The total capitalisation of the crypto market fell by 5.5% over the week to $1.13 trillion, according to CoinMarketCap. One of the main reasons was issues at Binance, where BTC withdrawals were suspended twice.
Bitcoin proved interesting for sellers as it touched the 200-week average, passing close to $26,000 last Friday. By defending this key average, the bulls have convinced the market of the sustainability of the long-term bullish trend. On Saturday and Sunday, the Bulls defended the $26.8K level.
On Monday, investors switched to active buying and pushed the price to $27.5K. However, cautious buyers will likely want to see a $28-28.5K takedown as confirmation of the break of last month's downtrend.
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The total capitalisation of the crypto market fell by 5.5% over the week to $1.13 trillion, according to CoinMarketCap. One of the main reasons was issues at Binance, where BTC withdrawals were suspended twice.
Bitcoin proved interesting for sellers as it touched the 200-week average, passing close to $26,000 last Friday. By defending this key average, the bulls have convinced the market of the sustainability of the long-term bullish trend. On Saturday and Sunday, the Bulls defended the $26.8K level.
On Monday, investors switched to active buying and pushed the price to $27.5K. However, cautious buyers will likely want to see a $28-28.5K takedown as confirmation of the break of last month's downtrend.
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Crypto market capitalisation rose 1.4% over the last 24 hours to $1.138 trillion. After quiet trading on Monday, most gains came on Tuesday morning. The timing of the move is due to news on the US debt ceiling, where there is no deal yet, but Biden notes progress in negotiations.
#Ethereum is up 2.3% at $1856, with the top altcoins gaining between 0.3% (#Solana) and 3% (#Polygon).
#Bitcoin is up 1.6% over the past day to $27.3K and earlier today climbed close to $27.5K, the upper end of the range since the 15th. Despite the positive momentum, the daily timeframes remain bearish, with Bitcoin trading below $27.5K.
According to CoinShares, investments in cryptocurrency funds fell for the fifth consecutive week to $32 million last week.
According to Santiment, the number of BTC and ETH on exchanges has fallen to its lowest level in several years, which is seen as a sign of an attitude towards long-term holding.
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#Ethereum is up 2.3% at $1856, with the top altcoins gaining between 0.3% (#Solana) and 3% (#Polygon).
#Bitcoin is up 1.6% over the past day to $27.3K and earlier today climbed close to $27.5K, the upper end of the range since the 15th. Despite the positive momentum, the daily timeframes remain bearish, with Bitcoin trading below $27.5K.
According to CoinShares, investments in cryptocurrency funds fell for the fifth consecutive week to $32 million last week.
According to Santiment, the number of BTC and ETH on exchanges has fallen to its lowest level in several years, which is seen as a sign of an attitude towards long-term holding.
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The crypto market cap has fallen 1.6% over the past 24 hours to $1.10 trillion, back to the levels from which the market rebounded almost two weeks ago. At the same time, #Bitcoin is down 2%, #Ethereum is down 2.2%, and the top altcoins are losing between 0.5% (#Solana) and 3% (#Cardano). #Polygon (+0.8% in 24 hours) and #Tron (+10% in 7 days) beat the headwinds.
The price of Bitcoin dipped below $26K at the start of trading on Thursday, a level it has been consistently above since March 17th. Bitcoin enjoyed a strong rally in March and April amid fears over the safety of funds held by regional US banks. As this issue has faded from the headlines, cryptocurrencies have reversed into a correction.
On the technical analysis front, the $25K level is seen as a critical stop on the way down, with little support found on the journey to that level.
Ethereum has rolled back to the lower end of the last two months' range at $1777. A further move lower opens the door to $1700.
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The price of Bitcoin dipped below $26K at the start of trading on Thursday, a level it has been consistently above since March 17th. Bitcoin enjoyed a strong rally in March and April amid fears over the safety of funds held by regional US banks. As this issue has faded from the headlines, cryptocurrencies have reversed into a correction.
On the technical analysis front, the $25K level is seen as a critical stop on the way down, with little support found on the journey to that level.
Ethereum has rolled back to the lower end of the last two months' range at $1777. A further move lower opens the door to $1700.
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The crypto market cap has been virtually unchanged over the past 24 hours, remaining near 1.1 trillion. Bitcoin is marginally higher, up 0.1%, while Ethereum is down 0.3%. Top altcoins show more amplitude, ranging from a 3.2% drop (#Cardano) to a 1% gain (#Polygon).
#Bitcoin is trading near $26.5K - in the middle of the previous day's trading range and just above the psychologically important 200-week moving average. A break below this level could trigger a deeper decline to $24.5K (previous high) or even $22.2K (50-week moving average).
In #Ethereum, the 50-week moving average has crossed up from the 200-week moving average, and a price above this crossover would indicate a continuation of the bullish trend.
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#Bitcoin is trading near $26.5K - in the middle of the previous day's trading range and just above the psychologically important 200-week moving average. A break below this level could trigger a deeper decline to $24.5K (previous high) or even $22.2K (50-week moving average).
In #Ethereum, the 50-week moving average has crossed up from the 200-week moving average, and a price above this crossover would indicate a continuation of the bullish trend.
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Crypto market capitalisation rose 0.8% to $1.073 trillion, close to its level of 10 days ago. #Bitcoin was a major contributor to the rally, rising 1.6% to $28.8K, while #Ethereum gained just 0.4% to $1730. Among the top altcoins, #Solana (+3.5%) stands out, with other altcoins ranging from -1.2% (#XRP) to +1.6% (#Polygon).
For the fifth day out of the last six, Bitcoin has breached the upper boundary of its bearish range and tested the 50-day moving average near $27K.
Although the price has now breached the channel's upper boundary, a break of the downtrend cannot be declared until a close above $27.2K, the previous local high, is achieved. A reversal from current levels offers a downside of more than 10% with the potential for a drop to the 200-day moving average.
Retail traders helped push Bitcoin above $26K, according to Glassnode, which noted an increase in activity from addresses controlling between 0.1 and 1 BTC.
For the fifth day out of the last six, Bitcoin has breached the upper boundary of its bearish range and tested the 50-day moving average near $27K.
Although the price has now breached the channel's upper boundary, a break of the downtrend cannot be declared until a close above $27.2K, the previous local high, is achieved. A reversal from current levels offers a downside of more than 10% with the potential for a drop to the 200-day moving average.
Retail traders helped push Bitcoin above $26K, according to Glassnode, which noted an increase in activity from addresses controlling between 0.1 and 1 BTC.
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The crypto market cap rose 1.75% over the past 24 hours to $1.19 trillion, outperforming Bitcoin and Ethereum’s 1.5% growth over the same period. Among the top altcoins, #Solana (+5.7%), #BNB (+6%) and #Polygon (+9.4%) are outperforming the market. #Tron (-0.2%) and #Dogecoin (+1.2%) underperform the market.
According to CoinShares, investments in crypto funds rose by $136 million last week, marking the third consecutive week of inflows totalling $470 million.
However, trading volumes slowed to $1 billion for the week, compared to an average of $2.5 billion in the previous two weeks, CoinShares noted.
#Ethereum reversed to the upside at the end of last week, pulling back from its 50-day moving average. This is the second such reversal in the past two weeks, suggesting that the market is looking to reassert the dominance of the uptrend. If this proves to be the case, Ethereum is headed for a renewal of local highs near $1960 from the current $1880.
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According to CoinShares, investments in crypto funds rose by $136 million last week, marking the third consecutive week of inflows totalling $470 million.
However, trading volumes slowed to $1 billion for the week, compared to an average of $2.5 billion in the previous two weeks, CoinShares noted.
#Ethereum reversed to the upside at the end of last week, pulling back from its 50-day moving average. This is the second such reversal in the past two weeks, suggesting that the market is looking to reassert the dominance of the uptrend. If this proves to be the case, Ethereum is headed for a renewal of local highs near $1960 from the current $1880.
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The crypto market continues to climb, rising 3.4% in the last 24 hours to $1.38 trillion. Bitcoin was again the driver, adding 3.8%. Altcoins are moving slower but up, adding between 1.7% (#BNB) and 7.7% (#Polygon).
#Bitcoin has broken out of a long consolidation range and is approaching the next round level of $37K. The technical implementation of this pattern suggests a rise to $41-45K, depending on which point we choose as the start of the last impulse. The upper limit looks like a suitable target with a pivot point close to it. Near it, in April 2022, the corrective rebound ended, and the most relentless phase of the sell-off began.
Despite Bitcoin's strong recovery since the beginning of the year, the supply of coins is extremely limited due to the actions of hoarders. Many metrics that characterise "bitcoin inactivity" have reached historic highs, Glassnode noted.
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#Bitcoin has broken out of a long consolidation range and is approaching the next round level of $37K. The technical implementation of this pattern suggests a rise to $41-45K, depending on which point we choose as the start of the last impulse. The upper limit looks like a suitable target with a pivot point close to it. Near it, in April 2022, the corrective rebound ended, and the most relentless phase of the sell-off began.
Despite Bitcoin's strong recovery since the beginning of the year, the supply of coins is extremely limited due to the actions of hoarders. Many metrics that characterise "bitcoin inactivity" have reached historic highs, Glassnode noted.
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