The bitcoin price just strongly rejected the $8,600 level, breaking down from a tight range for the first time in four days. BTC dropped below $8,400 on major exchanges like BitMEX, leaving the dominant cryptocurrency vulnerable to a deeper pullback.
Similar price movement as when bitcoin rejected $10,600
On October 26, the bitcoin price increased to as high as $10,600. It rose 43 percent within a two-day span in an upside movement primarily driven by a big short squeeze.
Following the upsurge, the bitcoin price remained volatile within a relatively tight range between $9,000 to $9,500. Two weeks after hitting $10,600, the bitcoin price went on to drop to $6,500 in just a month.
The rejection of $9,200 on January 19 followed by another rejection at $8,600 closely resembles a fractal bitcoin saw in late October last year.
Prominent technical analysts have said that in the short-term, bitcoin is likely to remain volatile as it struggles to find a direction.
One trader noted that bitcoin is currently in a wider range between $7,600 to $9,200. A break below $7,600 would invalidate the entire bullish structure of the bitcoin price and a close over $9,200 would indicate a continuation of a rally.
Simply put, technical analysts generally foresee two scenarios to play out in the short-term: bitcoin closes above $9,500 by the end of January and begins a new extended rally or it drops below $7,600 to remain in a bearish trend.
The macro outlook on bitcoin (source: DonAlt Twitter)
One variable that could prevent a steep correction in the short-term is the strong fundamentals of bitcoin.
Fundamentals can prevent a sharp pullback
The block reward halving scheduled to occur in May 2020 was named as a potential driving factor for the bitcoin price trend since as early as mid-2019.
That led to debates on whether the halving is already priced into the price of BTC, and if the halving would be a catalyst for the asset.
It decreases the amount of BTC miners earn by mining blocks on the Bitcoin blockchain, affecting the circulating supply of BTC.
As a scarce asset, one if its main value proposition is its deflationary nature. 21 million BTC can only ever exist and as such, that could drive demand for the asset.
Ahead of the halving, the Bitcoin hashrate is continuing to rise past record highs. It indicates that miners are putting in resources to mine as much BTC as possible prior to the halving in anticipation of the halving.
That demonstrates confidence from a miner’s point of view, especially considering that BTC is coming off of 35 percent drop from a recent high in the second half of 2019.
While technical indicators point toward a short-term pullback, strong fundamentals could prevent a sharp correction from occurring in the first half of 2020. The post appeared first on NewsBTC. origin »
Bitcoin was rejected on a few occasions near $7,260 and $7,300 against the US Dollar. The price is currently declining and it remains at a risk of more downsides below $7,000. There is a declining channel forming with resistance near $7,180 on the hourly chart of the BTC/USD pair (data feed from Kraken).
Over the past few hours, Bitcoin (BTC) has shown strength rather uncharacteristic to its performance over the past few weeks, surging to $7,520 just an hour or two ago. But since then, the price of the leading cryptocurrency has retreated, returning to $7,350 after bulls failed to break through $7,500.
Bitcoin’s price has been stuck within a firm and unwavering trading range within the lower-$7,000 region over the past week, with each attempt to rally being quickly rejected by aggressive selling pressure that has led BTC to remain stuck around its current price levels.
Bitcoin has incurred multiple bouts of bullishness over the past several days and weeks, with each rally resulting in a strong rejection that leads the cryptocurrency to fully retrace its gains. This pattern occurred again today, when BTC surged to highs of nearly $7,500 before incurring a strong and swift rejection.
Since yesterday, Bitcoin’s price movement has been flowing downward in a series of waterfalls, with some sideways movement in between. The daily close yesterday being rejected at the two-year movingThe post BitMEX Bitcoin longs worth $3.
Bitcoin price has been falling over the last few months ever since the first-ever cryptocurrency was rejected at $14,000 this past June. The severity of the downtrend has picked up over the last several weeks, and may have just come to its climax, if a powerful upsurge in response to today’s low ends up being.
The cryptocurrency market came back under downside pressure on Monday as Bitcoin and other major cryptocurrencies gave back a significant portion of their late-November trading gains. Bitcoin is trading below the $7,300 level, following a major technical rejection from trendline resistance on the daily time frame, located around the $7,865 level.
A Washington Western District Court judge has rejected petitioner William Zietzke’s appeal to stop the U. S. Internal Revenue Service (IRS) from accessing his Bitstamp trade data. An IRS summons invoked Zietzke to file a petition to quash the tax agency’s investigation into his private accounts.
In October this year, the SEC rejected Bitwise’s application for a Bitcoin ETF in partnership with NYSE Arca. The regulator has now announced they are willing to give the ETF proposal a second look, and invites any party to file a statement in support of the product by December 18, reported on November 18, 2019.
Towards the beginning of last month, the United States' Securities and Exchange Commission [SEC] rejected a Bitcoin Exchange Traded Fund [ETF] proposal put forward by Bitwise Asset Management. The SECThe post Bitwise's rejected Bitcoin ETF proposal to be reviewed: SEC appeared first on AMBCrypto.
Bitcoin has been incurring significant volatility over the past several days, which has mostly favored the cryptocurrency’s bulls as BTC has been able to run from lows of $7,300 to highs of $10,600 before settling in the middle of this wide trading range.
The prospect of a Bitcoin ETF came crashing down a few weeks back when the United States’ Securities and Exchange Commission [SEC] rejected the last standing Bitcoin ETF application submitted by Bitwise Asset Management, on the grounds that a regulated ETF may lead to “manipulative acts and practices.
The U. S. Securities and Exchange Commission (SEC) is reviewing its order issued last week pertaining to a rejected proposal for a bitcoin exchange-traded fund (ETF). The proposal was filed by NYSE Arca for the Bitwise Bitcoin ETF Trust.
SEC rejected all the Bitcoin Exchange Traded Funds (ETF) proposals pending before it, citing they did not meet legal requirements to curb market manipulation and other illicit activities. The latest ETF to be rejected was that of Bitwise Asset Management.
Last night, the bitcoin market saw a strong breakout get immediately rejected as selling pressure shoved the breakout down from $8,800 to $8,200s
The post Bitcoin Price Analysis: Breakout Gets Rejected as Supply Drowns Bulls appeared first on Bitcoin Magazine.
Following a continued downtrend and recent lows around $7,700 being defended by bulls, Bitcoin price is currently trading at $8,300 after a surge to $8,800 overnight last night was rejected with force by bears.
The hope and anticipation associated with a Bitcoin ETF bit the dust yet again after the last proposal for an ETF, one submitted by Bitwise Asset Management, was recently rejected by the United States’ Securities and Exchanges Commission.
U. S. financial watchdog, the Securities and Exchange Commission (SEC) has rejected the Bitcoin Exchange Traded Fund (ETF) proposal of Bitwise, on the grounds that the filing does not meet the set standards regarding market manipulation and fraudulent activities, according to an October 9, 2019 announcement.
Despite Bitwise Managing Director Matt Hougan’s sunshine optimism that the market was “closer than ever” to a Bitcoin ETF, last night the SEC announced it had rejected their application on the grounds that it had failed to show how it would “prevent fraudulent and manipulative acts and practices.
After its head of research expressed optimism, the Bitwise bitcoin ETF proposal has been rejected by the U.S. Securities and Exchange Commission.
The post SEC Rejects Bitwise’s Bitcoin ETF Proposal appeared first on Bitcoin Magazine.
US Securities and Exchange Commission (SEC) has rejected the last Bitcoin exchange-traded fund (ETF) of the year and crushed the hope for a BTC ETF in 2019. On Oct. 9, the SEC issued a 112-page order disapproving NYSE Arca’s proposed rule change to list and trade shares of the Bitwise Bitcoin ETF Trust. The “detailed […]
The US Securities and Exchange Commission (SEC) stated yesterday that it hadn’t approved the Bitcoin exchange-traded fund (ETF) proposed by Bitwise Asset Management. SEC’s Decision on Bitcoin ETF in Line with Expectations While the SEC rejected Bitwise’s BTC ETF, the regulator didn’t mind to release a super-detailed explanation that counts 112 pages.
The Bitcoin ETF was a dream. Bitwise Asset Management’s application to list a Bitcoin Exchange Traded Fund [ETF] has been rejected by the United States Securities and Exchange Commission [SEC] on the grounds that such a fund would lead to “manipulative acts and practices.
Last week, following disappointment surrounding the much anticipated Bakkt launch, Bitcoin price smashed below $10,000 and plummeted over 20% to under $8,000 before it found support in the high $7,000 range.
It has been a long road to haul for the Bitcoin exchange-traded fund (ETF) and it looks as if we’re still far from gaining approval. After years of delays and several proposals that seemed as if they would get traction, only to end up being rejected, the Bitcoin ETF advocates continue their struggle. A recent […]
Bitcoin (BTC) has been facing a long bout of consolidation ever since it was rejected at its 2019 highs of $13,800 earlier this summer. Simultaneously, the equities markets have also faced a period of consolidation throughout 2019, after trade tensions and global political instability slowed the market’s meteoric ascent.
Bitcoin price has been consolidating since June, after it was rejected from former bear market resistance at $13,800 – stopping Bitcoin’s parabolic advance short of retesting its previous all-time high of $20,000.
One of the most frequently asked questions in the cryptocurrency community in 2018 was “When Bitcoin ETF?” The United States Securities and Exchanges Commission [SEC] has time and again either delayed or rejected every proposed Bitcoin exchange-traded fund, citing concerns of market manipulation.
Primarily targeting institutional investors, VanEck and SolidX are reportedly selling a “limited version” of a bitcoin exchange-traded fund (ETF) after every bitcoin ETF proposal has been rejected by the Securities and Exchange Commission (SEC) to date.
Bitcoin price is at risk of falling from the current trading range and is hanging by a thread at $9,600 after repeated attempts to hold above $10,000 failed. And while a rebound from here cannot be ruled out, Bitcoin price was rejected by high timeframe resistance dating back to the previous crypto market bull run,.
Bitcoin proponents have rallied round to denounce gold bug Peter Schiff after he said the cryptocurrency has proven it is not a safe haven. Schiff: Bitcoin Failed ‘Again’ In a Twitter debate on August 29, Schiff used the sudden weakness in the Bitcoin price to suggest it was an unreliable alternative investment to assets such as stocks and fiat currency.
Bitcoin price has been consolidating for what feels like ages now. After Bitcoin’s parabolic run-up, the leading crypto asset by market cap was rejected at $13,800 – just before it could break through the final bear market resistance.
The total crypto market cap climbed higher, but it failed to surpass the $272. 0B resistance. Bitcoin price surged around 5%, but it was rejected near the $10,500 and $10,600 resistance levels. EOS price settled above the $3.
Despite the bullish price action the last two weeks, Bitcoin was once again rejected at $12,000 resistance. A move above this level could take BTC to new yearly highs, but it seems the cryptocurrency may need to correct further to allow capital to flow into the market.
This morning, July 31, 2019 Bitcoin price soared from lows around $9,500 to a local high of $10K before the leading crypto asset by market cap took a short pause. Bears have been in control ever since Bitcoin price was rejected from $13,800, and has struggled to maintain the bullish momentum it has had behind.
Bitmain-owned mining pool Antpool lost its 12.5 BTC mining reward after the network's full nodes rejected the newly created block, noting that the block's "coinbase transaction" did not match the Bitcoin protocol.
Bitmain-owned mining pool Antpool appears to have squandered at least $150,000 worth of Bitcoin mining rewards, reports BitMEX Research, the analytic arm of cryptocurrency exchange BitMEX. At 14:35 UTC, June 10, the Bitcoin network rejected a block after it had been mined, which effectively cancelled the 12.
The crypto market has shed over $25 billion in value over the course of the afternoon hours, as Bitcoin price was rejected at $13,000, sending it quickly below $12,000, and is at risk of falling further now that the bullish momentum is waning.
The total crypto market cap failed to climb above $325. 0B resistance and declined recently. Bitcoin price was rejected near the $12,000 resistance and it recently declined below $11,400. EOS price is currently below $5.
Bitcoin price is finally taking a much-needed breather, after rallying for five months straight and bringing crypto investors who bought the bottom as much as 300% returns before it was rejected at $14,000 per BTC.
Imagine for a moment that Craig Wright truly is who he says he is; the inventor of Bitcoin. Imagine you are one of the few who, despite the evidence against his many rambling arguments, believe he truly is the creator of this revolutionary monetary system, now rejected by its creator because it has been used […]
The post Wright Buys More Time: But Does His Testimony Hurt Or Boost Bitcoin? appeared first on Crypto Briefing.
All this week, Bitcoin price action has been heating up, bringing traders the most volatility seen since the last bull run. The price of the leading crypto asset by market cap violently bounced back and forth between $10,500 and $13,000 for much of yesterday after it was rejected at overhead resistance at $14,000.
Экономика США уже начинает трещать по швам: безработица растет, инфляция держится выше ожиданий, а теперь еще и Трамп со своей тарифной войной. Последнее может стать последней каплей для ФРС (заседание уже 18-19 марта), и они будут вынуждены резать ставки, — мнение Артура Хейса, сооснователя и бывшего директора биржи BitMEX.
Бывший CEO BitMEX, Артур Хейс утверждает, что мемкоины займут центральное место на политической арене уже в 2026 году. По его словам, политики будут использовать крипту для вовлечения избирателей, тем самым заменяя традиционную агитацию.
BitMEX is investigating an unusual activity involving “a user selling large orders” on its Bitcoin spot market. Yesterday, several market observers identified a rogue seller who unloaded more than 400 BTC on the BitMEX exchange.
Update: A further $90 million was liquidated since press time, bringing the total liquidations to $623 million over the past 24 hours. $67 million longs and $23 shorts were liquidated in the past hour.
По данным информационного портала CoinMarketCap, в понедельник, 26 февраля, рыночная капитализация первой криптовалюты достигла уровня $1,046 трлн – впервые с декабря 2021 года.
Кошелек с один биткоином сгорел в атмосфере Земли вместе с космическим модулем Peregrine. Модуль должен был опуститься на поверхность Луны. Об аварии объявила компания-оператор миссии, американская Astrobotic Technology.
