Prior to the news, bitcoin saw several days when buyers began to disappear from the market.
As you can see, the price temporarily dipped below support on high volume and saw a short closing rally which pushed the price back into the TR.
Now, at the time of this article, we are testing the support of the $6,450 range again.
If we fail to hold support, we will undoubtedly test the support of the February low ($6,000).
First, we must see how support holds on the test of the $6,450 and $6,000 levels.
Within minutes of rumors spreading regarding the SEC’s classification of both bitcoin and ether, the entire crypto market breathed a sigh of relief as everyone enjoyed a nice bounce.
Coinbase dominated headlines across the space this week with a pair of significant developments. The San Francisco–based exchange announced on Monday, June 11, its intention to add Ethereum Classic to its trading platform and then quickly followed the news on Tuesday with the official opening of a crypto index fund.
In the previous BTC-USD market analysis, we discussed a macro pattern forming, called a “symmetrical triangle. ” A symmetrical triangle (shown in red) is a directionally agnostic consolidation pattern.
Bitcoin’s price action over recent weeks has remained largely rangebound, but on-chain data suggests underlying market dynamics may be turning more constructive. According to blockchain analytics firm Santiment, accumulation by large holders alongside recent profit-taking by smaller retail traders could set the stage for renewed upward momentum across the crypto market. Whale accumulation points to […]
Institutional interest in Bitcoin is growing, potentially stabilizing the market and increasing mainstream acceptance of cryptocurrencies.
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For many Venezuelans, Bitcoin has already served as a tool of survival—and, potentially, a foundation for restoring financial autonomy after years of dictatorship.
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Bitcoin broke $94K after $420M in liquidations and geopolitical tension sparked a sharp rally across major crypto tokens.
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American Bitcoin now holds 5,427 BTC after adding 329 coins, surpassing KindlyMD and Semler as Bitcoin trades above $93K.
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The significant unrealized loss highlights the volatility and financial risk associated with large-scale corporate investments in cryptocurrencies.
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