Fun

News Feed - 2023-09-26 11:09:39

William Suberg9 hours agoBitcoin analysts flag key BTC price points as bulls cling to $26KBTC price support and resistance lines in the sand are crystallizing amid a fresh bout of low volatility for Bitcoin.1829 Total views30 Total sharesMarket UpdateJoin us on social networksBitcoin (BTC) hit intraday lows after the Sept. 26 Wall Street open as its price behavior shunned major volatility.BTC/USD 1-hour chart. Source: TradingViewBinance traders put up thin BTC price resistance


Data from Cointelegraph Markets Pro and TradingView showed the largest cryptocurrency acting in a tight range while keeping $26,000 as support.


Bitcoin bulls saw several retests of the $26,000 level as the week got underway, though it was still holding at the time of writing.


Analyzing the composition on the largest global exchange, Binance, monitoring resource Material Indicators eyed potential scenarios to come.


With $50 million in bid liquidity between $25,000 and the current spot price versus just $6 million in overhead resistance, there was little “holding price down.” 


“Watching to see if it replenishes, moves or gets eaten,” it commented.


Material Indicators reiterated that $24,750 — the sight of Bitcoin’s mid-June low — remained a “line in the sand” for bulls, in line with previous weeks.BTC/USD order book data for Binance. Source: Material Indicators/X


While describing the current status quo as “not all that bad,” meanwhile, popular trader and analyst Daan Crypto Trades highlighted two key levels that could determine a new BTC price trend.


These came in the form of the 200-week moving average (MA) at $28,000 and a horizontal support zone around $25,000.


“Until then we’d likely be seeing low timeframe choppy price action,” he predicted to X (formerly Twitter) subscribers on Sept. 26.#Bitcoin Zooming out it"s not all that bad.

But I doubt we"d see any meaningful trend form until either:

1. Weekly 200MA (~$28K) is broken.

2. Horizontal Support (~$25K) is broken.

Until then we"d likely be seeing low timeframe choppy price action. pic.twitter.com/eSgf2LgzKu— Daan Crypto Trades (@DaanCrypto) September 25, 2023 Bitcoin enters “positive seasonality” phase


Zooming out, it was financial commentator Tedtalksmacro’s turn to eye the rest of 2023 with optimism when it came to Bitcoin.


Related: Bitcoin exchange volume tracks 5-year lows as Fed inspires BTC hodling


“Bitcoin is entering a period of positive seasonality,” he argued.


Noting that October is traditionally a lucrative month for BTC hodlers, Tedtalksmacro said 2022 marked an exception thanks to United States benchmark interest rates.


“However, for BTC, this is an unprecedented environment,” he continued.“Prior to 2022, BTC had never existed in a world with rates much higher than 2%… whereas now in late-2023, the Federal Funds rate is above 5% and will likely remain there for much longer while central banks of the world try to keep the lid on inflation.”


An accompanying chart showed October as being, on average, Bitcoin’s most successful month over the past three years, with data from monitoring resource CoinGlass showing likewise.BTC/USD monthly returns (screenshot). Source: CoinGlass


As Cointelegraph reported, Bitcoin is tipped for a comeback later in the year as its next block subsidy halving gets closer.


This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.# Bitcoin# Bitcoin Price# MarketsAdd reactionAdd reactionRead moreWhat is an atomic swap, and how does it work?How to buy Bitcoin in DubaiSky-high interest rates are exactly what the crypto market needs

News Feed

Turner Wright6 hours agoSam Bankman-Fried’s legal team moves to pursue theory on FTX terms of serviceLawyers petitioned the court to allow them to question witnesses for the prosecution based on FTX’s terms of servic
Turner Wright3 hours agoValkyrie will offer exposure to Ether futures as SEC delays spot Bitcoin ETFSome analysts have speculated the SEC will announce decisions or delays on crypto exchange-traded funds before Sept. 30
Coinbase Acquires One River Digital to Expand Institutional Access to Crypto Assets
Coinbase Acquires One River Digital to Expand Institutional Access to Crypto Assets Cryptocurrency exchange Coinbase has acquired One River Digital Asset Management, an institution
Anthony Clarke9 hours agoBoosting blockchain adoption by keeping tech on the back endBuilders are increasingly looking to streamline their applications with more familiar interfaces to onboard new users.395 Total views16
Michael Tabone9 hours agoBitcoin supercycle 2024: Is this the cycle to end them all?Dan Held’s Bitcoin supercycle hasn’t happened yet, but the factors might be right to see it play out sooner than most think.6048 Tot
The Mercedes-AMG Petronas F1 Team Inks Long Term Deal With Crypto Exchange FTX
The Mercedes-AMG Petronas F1 Team Inks Long Term Deal With Crypto Exchange FTX Following a number of partnerships this year, FTX Trading Limited announced on Thursday that the comp
Gareth Jenkinson9 hours agoRipple CTO says ‘tide is turning’ on US regulatory environmentDavid Schwartz believes the U.S. legal system is looking more skeptically at SEC cases against various cryptocurrency industry
JP Morgan Poll: 22% of Investors Say Their Institutions Likely to Trade or Invest in Cryptocurrencies
JP Morgan Poll: 22% of Investors Say Their Institutions Likely to Trade or Invest in Cryptocurrencies A recent JP Morgan poll found that 22% of the respondents s
Number of Youtube Crypto Stream Scams and Fake Domains Explodes in H1 2022
Number of Youtube Crypto Stream Scams and Fake Domains Explodes in H1 2022 A report issued by Group-IB, a Singaporean cybersecurity company, has found that the number of cryptocurr
RFK Jr. promises to pardon Silk Road’s Ross Ulbricht if elected
Vince Quill6 hours agoRFK Jr. promises to pardon Silk Road’s Ross Ulbricht if elected“Yes, illegal activity took place there, but come on,” the presidential hopeful wrote as he denounced Ulbricht’s draconian sent
Over 41.5% of Mt. Gox Bitcoin distributed as creditors continue to hodl
Zoltan Vardai12 hours agoOver 41.5% of Mt. Gox Bitcoin distributed as creditors continue to hodlDespite receiving over $4 billion worth of Bitcoin, which has appreciated by over 8,500% in the 10 years since Mt. Gox colla
Ripple begins testing RLUSD stablecoin on mainnet
Vince Quill6 hours agoRipple begins testing RLUSD stablecoin on mainnetRipple believes the total stablecoin market will have swollen to $2 trillion by 2028 as demand for the low-volatility fiat-pegged tokens grows.2297 T