Coin Korra

Bitcoin Poised For Recovery, Relief Summer still In Play? Bitcoin has been able to make a resurgence in recent weeks. The 25,000 USD barrier was recaptured by Bitcoin prices just two days ago, marking the first time since June 13th. Bitcoin Poised For New Rally In June, Bitcoin had its largest monthly decline since 2011, falling over 37.3% to a final value of $19,925. Since then, it has partially recovered its value and today saw its first test of $25,000. Bitcoin continues to rule the charts despite being down 46.5% from its previous high, but its dominance has decreased to slightly under 40% as opposed to more than 50% a few months ago. However, Bitcoin has been relatively peacefully fluctuating horizontally over the past two weeks between $22,500 and $24,500. At the same time, recent weeks have seen a significant recovery in both commodities prices and stock markets. As a result, the overall financial markets are experiencing the anticipated summer rally.

Bitcoin price: weekend volatility ‘expected’ with $22K level to hold BTC/USD could hit $30,000 if the current daily trend of higher highs and lows continues, one trader says as the market avoids weekend losses. Bitcoin (BTC) rose above $23,000 again into Aug. 6 as new analysis predicted a potential surge of 20% or more. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing overnight to once again sit near the top of its established trading range. After multiple attempts to break out above range resistance at $23,500, the pair appeared to still be stuck in limbo at the time of writing, but hopes of bullish continuation were already there. “Expecting more volatility over the wknd,” on-chain monitoring resource Material Indicators wrote in part of its latest Twitter update on Aug. 5. $28,000 would be over 20% higher than the current spot price and would represent a near two-month high.

Data Shows Bitcoin Still Highly Correlated With Stock Market As per the latest weekly report from Arcane Research, while BTC has been more volatile than the stock market, the crypto’s movements have still been pretty close to the latter. In the year 2022 so far, both the stock market and Bitcoin have found it hard. However, year-to-date, BTC is down 51% while S&P is 14% and NASDAQ 22% into the red, much less than BTC’s losses. Though, it’s also apparent from the chart that many of BTC’s price moves have been much bigger in scale than those of the stock market assets. From this, it can be concluded that the correlation between the crypto and the stock markets has been pretty significant this year. The main reason behind the highly correlated markets is the increased presence of institutional investors in Bitcoin. During times of macro uncertainties, such investors aim to turn down their risk and thus pull out of markets like BTC.

Crypto Market: Bitcoin To US Dollar (BTC/USD) - Technical Analysis - 04/08/22 Bitcoin Valley is a project that aims to strengthen "crypto-tourism" in Honduras. The bitcoin town is located in Santa Lucia, a commune in the south of the country. As part of this initiative, more than 40 local companies recognized bitcoin as a form of payment. Bitcoin Valley is the first bitcoin city in Honduras. The initiative to attract new tourists takes place in Santa Lusia, a small town 20 minutes from the country's capital, Tegucigalpa. The project was jointly developed by Blockchain Honduras, Guatemalan Coincaex cryptocurrency exchange, Honduras University of Technology, Decentral Academy and Santa Lucia Municipality.

Technical Analysis of BTC/USD for August 3, 2022 Le himself is his close associate who probably shares his vision of the market and the company, in addition, he has been behind the recent investments in the cryptocurrency market. He served as CEO since July 2020 and has helped implement the recurring bitcoin buying strategy. Starting his term as chief financial officer in July, Le explained that MicroStrategy would continue to acquire and HODL BTC. Technical Market Outlook: The BTC/USD pair continues to drop from the last high located at $24,664 and just made a new local low at the level of $22,664 and is now below the middle channel line. The intraday technical support is seen at $22,507. The momentum is now weak and negative on the H4 time frame chart, so a deeper correction towards the level of $22,000 is possible before the bulls will wake up and start buying again. Please notice, the Bitcoin market keeps moving inside the ascending channel, so the bullish impulsive wave scenario.

Bitcoin price analysis: BTC starts August on muted note as price oscillates near $23k Bitcoin price analysis shows BTC well above the supply zone near $23,100 Strong bullish pressure can take the pair above $24k as new week dawns Higher lows formation on the hourly charts display bullish optimism Bitcoin price analysis is turning stagnant as the price oscillates near $23,100 after correction from day’s high near $23,900. The formation of higher lows on the hourly charts also shows that the bulls are in charge in the price action. The strong monthly gains are helping the pair glide into the next month with renewed optimism. So, is the BTC bottom here? Well, Bitcoin price analysis has turned green but the long-term horizon is still unclear. The lows near $18,000 are not in sight but any mistake by the bulls can cost them dear. With earnings season in full swing on the wall street, it remains to be seen whether the pair will bounce higher or track lower.

Profitable BTC addresses touched 25.6 million on Sunday.Bitcoin network activity has increased in the past few days. Yesterday, Bitcoin managed to stay above $23,000 after weekly gains of approximately 7%. Amid a price jump, the Bitcoin network activity has witnessed a sharp increase in the past few days. According to the data published by Glassnode, non-zero BTC addresses touched an all-time high of 42.6 million on 31 July 2022. Additionally, profitability across the Bitcoin network has spiked in the past few days. Glassnode’s data indicates that more than 25.6 million BTC addresses are now in profit, which is the highest level in one month. The number of Bitcoin addresses holding at least 0.1 BTC reached an all-time high of 10.5 million on 1 August. On 1 August 2022, the total number of crypto addresses holding at least 1 Bitcoin touched an all-time high of 891,234, compared to 888,262 on 23 July. However, the overall number of large Bitcoin addresses is shrinking .

Bitcoin Eyes $28k With A One-day Breakout Bitcoin eyes $28,000 after a major breakout from the 1D 50 EMA resistance with a good volume. The Crypto market looks bullish on the low timeframe as major cryptocurrencies and altcoins gain relief bounces. Market Dumps Ahead Of FOMC Meeting  The major buzz around the financial market over the past few days was focused on the FOMC. This has led to major cryptocurrencies dropping from key supports and resistance, with the likes of Bitcoin trading at around $20,700 and Ethereum going down to $1,376. Before the FOMC meeting, rumors of a hike in rate led to the crypto market bouncing, with BTC rising to $22,000. On Wednesday, the Federal Open Market Committee (FOMC) raised its interest by 0.75% marking the highest rate increase since the 1980s. The Federal Reserve Chairman Jerome Powell stated, “unusually large increase could be ideal in future meetings and a period of economic slowdown will be vital to bring back price stability.”

Bitcoin futures data shows 'improving' mood' despite -31% GBTC premium CME futures data combines with numbers from derivatives platforms to suggest that investors are getting less fearful. Bitcoin (BTC) traders may be nervous going into the Federal Reserve rate hike decision, but research suggests that the bulls are broadly gaining ground. Caution mixed with "improving sentiment" While attention has focused on the likelihood of a deeper macro low for BTC/USD to come, it appears that not every investor cohort is ready to run for the exit. Even at current prices 70% below all-time highs, the mood among institutions is strengthening. For Arcane, the proof is in the rising premium being paid by CME Bitcoin futures clients. This premium, while still low by historical standards, has been sloping upward through the second half of July. "Basis premiums are now sitting at similar levels on CME and the offshore exchanges, indicating that the market sentiment is balanced among different groups of traders.