fbpx
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
Tuesday, March 28, 2023
Online Crypto College
CREATE FREE ACCOUNT
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login
No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login
No Result
View All Result
Online Crypto College
No Result
View All Result

Bitcoin Needs Upward Catalyst to Exit the Current Range as Scepticism Mounts, Says Expert

June 7, 2022
in Blockchain
Reading Time: 3 mins read
A A
Bitcoin Needs Upward Catalyst to Exit the Current Range as Scepticism Mounts, Says Expert
ShareShareShareShareShare

The retracement to the $29K zone has jeopardized the much-anticipated Bitcoin (BTC) recovery as scepticism engulfs the market. 

Related articles

Coinbase Identifies Four Key Innovations for its Layer-2 Network

Coinbase Identifies Four Key Innovations for its Layer-2 Network

March 27, 2023
Investors Flock to US Money Market Funds Amid Banking Crisis

Investors Flock to US Money Market Funds Amid Banking Crisis

March 27, 2023

After hitting the $31.5K area, the leading cryptocurrency was down by 5.47% in the last 24 hours to hit $29,510 during intraday trading, according to CoinMarketCap.

Collin Howe and Adam Farthing of crypto liquidity platform B2C2 commented:

“Without a catalyst to the upside, current sentiment is likely to keep prices rangebound, with some clear and immediate risk of a break lower.”

The retracement might have been sparked by the significant resistance between the $31,400 and $32,500 levels. Data analytic firm IntoTheBlock explained:

“On the resistance side, it appears that there isn’t significant selling pressure above $32.5K BTC is currently sitting at a key level, as 371K addresses previously bought 220K BTC between $31.4K and $32.5K, breaking above this level could lead BTC towards $36K.”

Mike McGlone, a senior commodity strategist at Bloomberg Intelligence, recently acknowledged that the $30K zone was emerging as an inflexion point in the Bitcoin market. However, the Federal Reserve’s continued interest rate hike might be the primary stumbling block to BTC’s price surge.  

Bitcoin is still not out of the woods yet

Bitcoin has remained rangebound between the $28K and $32K zone for a couple of months in the face of the Fed’s interest rate hike and the algorithmic UST stablecoin crash, which saw nearly $60 billion wiped off the crypto market.

As a result, crypto insight provider Santiment believes scepticism about Bitcoin bouncing continues to mount. 

Image

Source: Santiment

According to a market analyst under the pseudonym Tajo Crypto, BTC is still not out of the woods because the bear market is playing out. The analyst pointed out:

“Bitcoin went from $31K yesterday to $29K today, so the whole market also corrected, including Ether that went from $1,929 yesterday down to $1,729 today. The overall cryptocurrency market cap has also dropped drastically due to the market correction. Still in a bear market.”

Previous analysis shows that prolonged periods of consolidation are often followed by either a bull or a bear run. Therefore, it still takes time for Bitcoin to further develop in the short term. 

Image source: Shutterstock


Credit: Source link

ShareTweetSendPinShare
Previous Post

The fear and favoring of digital currencies

Next Post

Solana Devs Fixed The “durable Nonce Transaction” Bug

Related Posts

Coinbase Identifies Four Key Innovations for its Layer-2 Network

Coinbase Identifies Four Key Innovations for its Layer-2 Network

March 27, 2023

Coinbase, a leading cryptocurrency exchange, has outlined four critical innovations that should be built on its newly launched layer-2 network,...

Investors Flock to US Money Market Funds Amid Banking Crisis

Investors Flock to US Money Market Funds Amid Banking Crisis

March 27, 2023

As the global banking crisis continues to fuel concerns among investors, the popularity of US money market funds is surging....

Venezuela Shuts Down Crypto Mining Operations

Venezuela Shuts Down Crypto Mining Operations

March 27, 2023

Venezuela, a country known for its volatile political climate, has recently made headlines for shutting down several crypto mining facilities...

Euler Finance Hacker Returns Majority of Stolen Funds

Euler Finance Hacker Returns Majority of Stolen Funds

March 27, 2023

In a dramatic turn of events, the hacker behind the $196 million exploit on the lending protocol Euler Finance has...

Arbitrum Discord Server Hacked for Phishing Attack

Arbitrum Discord Server Hacked for Phishing Attack

March 27, 2023

Arbitrum, a blockchain platform that aims to provide fast and low-cost transactions, recently experienced a security breach on its official...

Load More
Next Post
Solana Devs Fixed The “durable Nonce Transaction” Bug

Solana Devs Fixed The "durable Nonce Transaction” Bug

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Coinbase CEO Compares SEC to Soccer Refs in Criticism of Lack of Clarity Around Crypto Regulation

Coinbase CEO Compares SEC to Soccer Refs in Criticism of Lack of Clarity Around Crypto Regulation

March 24, 2023
Bitcoin Mining Hashrate Registers Third Largest 3-Month Spike In Last 5 Years

Bitcoin Mining Hashrate Registers Third Largest 3-Month Spike In Last 5 Years

March 27, 2023
Crypto Industry Receives Protection with New Blockchain Regulatory Bill

Crypto Industry Receives Protection with New Blockchain Regulatory Bill

March 23, 2023
VC Firm Co-Founder Foresees Crypto's Resilient Ascent Outshining … – CryptoGlobe

VC Firm Co-Founder Foresees Crypto's Resilient Ascent Outshining … – CryptoGlobe

March 26, 2023
ChatGPT doesn’t meet accuracy requirements for integration into security review process

ChatGPT doesn’t meet accuracy requirements for integration into security review process

March 21, 2023

About Us

We provide the latest crypto news, trading tools, and up-to-date education to students and traders all over the world.

ENROLL FOR FREE

Latest Crypto Headlines

  • Do Kwon’s Montenegro detention extended, registered Serbian company before arrest as fugitive
  • Coinbase Identifies Four Key Innovations for its Layer-2 Network
  • Crypto Twitter reacts to CFTC lawsuit against Binance
  • Bitcoin Mining Hashrate Registers Third Largest 3-Month Spike In Last 5 Years
  • Binance calls CFTC charges ‘unexpected,’ says it will cooperate with regulators
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 - OnlineCryptoCollege.com - All rights reserved!

No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login

© 2018 JNews by Jegtheme.

  • bitcoinBitcoin(BTC)$27,847.00-0.34%
  • ethereumEthereum(ETH)$1,764.22-0.74%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.00-0.11%
  • binancecoinBNB(BNB)$328.680.48%
  • usd-coinUSD Coin(USDC)$1.00-0.09%
  • rippleXRP(XRP)$0.4876436.23%
  • cardanoCardano(ADA)$0.356168-1.16%
  • dogecoinDogecoin(DOGE)$0.0754450.37%
  • staked-etherLido Staked Ether(STETH)$1,760.54-0.76%
  • matic-networkPolygon(MATIC)$1.08-2.09%
  • binance-usdBinance USD(BUSD)$1.00-0.33%
  • solanaSolana(SOL)$20.65-1.09%
  • polkadotPolkadot(DOT)$6.060.22%
  • litecoinLitecoin(LTC)$92.33-1.53%
  • shiba-inuShiba Inu(SHIB)$0.0000110.92%
  • tronTRON(TRX)$0.064286-0.08%
  • avalanche-2Avalanche(AVAX)$16.92-1.74%
  • daiDai(DAI)$1.00-0.12%
  • uniswapUniswap(UNI)$5.80-0.04%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$27,900.00-0.23%
  • chainlinkChainlink(LINK)$7.18-0.76%
  • cosmosCosmos Hub(ATOM)$11.15-1.58%
  • ToncoinToncoin(TON)$2.163.72%
  • leo-tokenLEO Token(LEO)$3.39-1.80%
  • moneroMonero(XMR)$163.960.62%
  • ethereum-classicEthereum Classic(ETC)$20.12-0.78%
  • okbOKB(OKB)$43.223.02%
  • stellarStellar(XLM)$0.0949002.60%
  • Aerarium FiAerarium Fi(AERA)$7.15-13.10%
  • bitcoin-cashBitcoin Cash(BCH)$123.66-1.69%
  • filecoinFilecoin(FIL)$5.56-0.14%
  • AptosAptos(APT)$11.66-2.02%
  • true-usdTrueUSD(TUSD)$1.00-0.09%
  • lido-daoLido DAO(LDO)$2.20-1.14%
  • hedera-hashgraphHedera(HBAR)$0.060751-1.88%
  • quant-networkQuant(QNT)$123.670.53%
  • crypto-com-chainCronos(CRO)$0.068078-2.21%
  • nearNEAR Protocol(NEAR)$1.93-1.63%
  • vechainVeChain(VET)$0.022637-1.96%
  • ArbitrumArbitrum(ARB)$1.25-3.18%
  • apecoinApeCoin(APE)$4.01-3.08%
  • algorandAlgorand(ALGO)$0.206856-1.89%
  • internet-computerInternet Computer(ICP)$4.90-1.65%
  • blockstackStacks(STX)$0.94-3.66%
  • eosEOS(EOS)$1.140.44%
  • the-graphThe Graph(GRT)$0.139626-1.49%
  • fantomFantom(FTM)$0.439912-1.74%
  • the-sandboxThe Sandbox(SAND)$0.62-3.27%
  • elrond-erd-2MultiversX(EGLD)$42.35-0.76%