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.
The event underscores the risks of high leverage in crypto trading, where rapid price shifts can trigger cascading liquidations and market instability.
The post Bitcoin drops nearly $3,000 as over $70M in longs liquidated in past 4 hours appeared first on Crypto Briefing.
Bitcoin price volatility has picked up ahead of a record $23.7 billion options expiry, with BTC hovering around $88.5K.
The post Bitcoin (BTC) Options Expiry Fuels Volatility Spike appeared first on Coinspeaker.
Emerging markets are finally accessing finance, with a $310-billion stablecoin market showing that adoption is not hype. Here is what this milestone actually means.