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Bitcoin is still down 60% from its November 2021 all-time high so many traders are wondering if BTC price could crash further in the coming months. Bitcoin (BTC) is still in a bullish reversal when looking at this year's price chart. BTC price has gained 70% after bottoming out at around $16,800 in November 2022, defying rate hike fears while riding on growing ETF approval optimism.  However, in recent months, Bitcoin bulls have failed to sustain BTC price above $30,000. Therefore, with the "bullish" halving is still over 200 days away, many traders are wondering: is Bitcoin price going to cash again in the coming months?  Let's take a closer look at the possible scenarios as Q3 draws to a close. Fibonacci fractal hints at Bitcoin crash to $21,500 From a technical standpoint, Bitcoin price has stabilized around the 0.236 Fib line of its Fibonacci retracement graph drawn from the $69,000-swing high (the market top) to the $15,900-swing low (the local market bottom)...

Ether risks falling further below $1,350 in August as the ETH price rally is losing steam. Ethereum's native token Ether (ETH) tumbled on July 26, reducing hopes of an extended price recovery. The ETH/USD pair dropped by roughly 5%, followed by a modest rebound to over $1,550. Ethereum gets rejected at $1,650  These overnight moves liquidated over $80 million worth of Ether positions in the last 24 hours, data from CoinGlass reveals. ETH/USD hourly price chart. Source: TradingView The seesaw action also revealed an underlying bias conflict among traders who have been stuck between two extremely opposite market fundamentals. The first is the euphoria surrounding Ethereum's potential transition to Proof-of-Stake in September, which has helped Ether's price to recover 45% month-to-date. However, this bullish hype is at odds with macroeconomic headwinds, namely the Federal Reserve's and European Central Bank's hawkish stance, which put pressure on risk assets and saw E...

Crypto traders expect a range expansion once the Jackson Hole symposium is complete and the Fed’s perspectives on inflation, interest rate hikes and the health of the economy are made public. Bitcoin (BTC) and several major cryptocurrencies have been trading sideways as traders avoid taking large bets before the United States Federal Reserve's Jackson Hole Economic Symposium, which begins on Aug. 25. The volatility is likely to soar as investors get some clarity on the Fed's stance in the next few days. On Aug. 23, a team led by Goldman Sachs chief economist Jan Hatzius said that Fed Chair Jerome Powell could sound dovish when he speaks on Aug. 26, reiterating that the central bank may move at a slower pace in future meetings. The analysts expect the Fed to raise rates by 50 basis points in the September meeting, which would be less than the 75 bps hike done in June and July. Daily cryptocurrency market performance. Source: Coin360 Although the short-term price action remains ...

Ethereum price has been gaining momentum in April, even against Bitcoin, as the much-anticipated Shanghai hard fork is just days away. Ethereum's Ether (ETH) token dropped by over 7.5% in its Bitcoin (BTC) pair in 2023. But ETH/BTC may wipe its year-to-date (YTD) losses entirely in April as Ethereum's long-awaited Shanghai hard fork is just days away. The upgrade is set for April 12, enabling Ethereum stakers to withdraw around 1.1 billion ETH in rewards — worth over $2 billion as of April 8.  ETH price undergoes key technical bounce Many experts see the hard fork as bullish for Ether in the long term. For instance, the Shanghai buzz has helped Ether outperform Bitcoin in April so far. As a result, the ETH/BTC pair has risen by about 4.75% month-to-date to reach 0.066 BTC as of April 8, a nearly 8% rebound since March 20.  The bounce was largely expected, particularly as ETH/BTC dropped to its historical ascending trendline support. Now, the upside move raises the prospects o...

The S&P 500 is attempting a recovery, but Bitcoin and select altcoins are struggling to break above their respective resistance levels. Bitcoin (BTC) is down about 11% in August, just shy of the 13.88% fall seen in the corresponding month in 2022, according to CoinGlass data. The picture does not look very bright for September either. History shows that every year since 2017, Bitcoin has declined in September.  Bloomberg Intelligence senior macro strategist Mike McGlone is even more bearish on Bitcoin. While speaking to Kitco News, McGlone warned that in case of a “global economic reset,” Bitcoin could nosedive to as low as $10,000. Daily cryptocurrency market performance. Source: Coin360 Although analysts have been giving both bullish and bearish targets, it is better to wait for the price to break out of the range before taking large bets. Typically, after a low volatile period, the volatility picks up but it is difficult to predict the direction of the breakout with certainty. ...

Fed Chair Jerome Powell announced a pause in interest rates, but Bitcoin options data still warns that a BTC price drop to $25,000 is possible. Bitcoin's price has been pinned below $26,300 since June 10, reflecting a 14.8% correction in two months. Meanwhile, the Nasdaq tech stock market index gained 13.6% in the same period, indicating that investors are not exactly fleeing to the safety of cash and short-term debt. In fact, the demand for United States government bonds has been declining for the past six weeks. U.S. 2-year government bond yield. Source: TradingView The yield on two-year U.S. Treasurys, for example, increased from 3.80% on May 4 to 4.68% on June 14. Lower demand for debt instruments increases payouts, resulting in a higher yield. If the investor thinks that inflation will continue above target, the tendency is for those participants to demand a higher yield when trading bonds. The U.S. Treasury is set to issue more than $850 billion in new bills between June and...

BTC price action shrugs off the latest signs that inflation is receding, with Bitcoin traders focused on Fed comments. Bitcoin (BTC) stuck to $26,000 on June 14 as fresh United States macroeconomic data prints failed to move cryptocurrency markets . BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView PPI offers Bitcoin bulls little fuel Data from Cointelegraph Markets Pro and TradingView showed BTC/USD staying stubborn as Producer Price Index (PPI) data showed U.S. inflation continuing to slow. US PPI just came in: -0.3% vs 0.2% previously -0.1% was predicted Just like yesterday, was lower than the predictions, furthering the likelihood of a pause at tomorrows #FOMC meeting. https://t.co/SymSTWwHSS — Decentrader (@decentrader) June 14, 2023 In line with its reaction to the Consumer Price Index (CPI) print the day prior, the pair failed to offer traders volatility, sticking to a familiar range between various moving averages. Market commentators thus turned to the day’s upco...

Bitcoin falls back in line almost immediately after closing the weekend's CME futures gap near $26,500. Bitcoin (BTC) fell back in line at the June 12 Wall Street open after a brief macroeconomic data jolt failed to shift the status quo. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Markets expect first Fed pause since 2021 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD continuing to circle $26,000, avoiding major volatility. The largest cryptocurrency saw a brief spike toward $26,500 on the back of the latest United States Consumer Price Index (CPI) print, which came in below expectations. While ostensibly a boon to risk assets, crypto market s remained cautious on the day, with comments from the Federal Reserve and further macro prints due in the coming days. Equities: Full Bull. Crypto: Can't even muster a small pop for us to get short. What a shame lol — Crypto Chase (@Crypto_Chase) June 13, 2023 Bets on the Fed pausing its rate hike c...

Volumes at Synthetix surpassed its nearest DEX competitor, but contracting user activity across decentralized exchanges could be a red flag. Synthetix weekly trading volumes surpassed $1 billion, overtaking decentralized derivatives exchange GMX to become the second-most active platform. The trading volume data from Token Terminal shows that Synthetix did more than twice the trading of GMX in the seven-day period starting May 17, thanks to Optimism (OP) token incentives for perpetual swap traders. The Synthetix (SNX) token has encountered resistance at the $2.50 level after gaining around 10.3% in the last seven days, per CoinGecko data. On the other hand, GMX and dYdX are experiencing a decline in trading activity, while their native tokens are eyeing bearish targets based on technical levels. OP incentives drive Synthetix volumes Synthetix offers perpetual futures contracts on layer-2 rollup Optimism via a decentralized application called Kwenta. The Synthetix community approved a p...