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Bitcoin’s price movement on May 6, 2024, showcases a complex dance of volatility and potential, captured vividly across various time frames and technical indicators. With an intraday range swinging from $63,657 to $65,489, traders grapple with a trading landscape rife with both uncertainty and opportunity. As oscillators mostly suggest neutrality with glimpses of buying strength, … Read more
Former Bitmex CEO Arthur Hayes predicts bitcoin will range-bound trade between $60,000 and $70,000 until August. “The slow addition of billions of dollars of liquidity each month will dampen negative price movement from here on out,” Hayes said, adding that he expects “prices to bottom, chop, and begin a slow grind higher.” Arthur Hayes’ Bitcoin … Read more
From April 27 to May 4, 2024, non-fungible token (NFT) sales amassed $164.4 million, reflecting a 30.16% decrease compared to the previous week. Leading the field in blockchain sales, Bitcoin-based NFT sales totaled $56.81 million, experiencing a 41.57% drop from the preceding week. Bitcoin and Ether Lead in Volatile NFT Market; Weekly Sales Down 30% … Read more
Friend.tech, the decentralized social media application on the Base network, recently launched its native token through an airdrop. Since trading commenced, the token has plummeted, dropping anywhere from 50% to 90% of its initial value across various decentralized exchange (dex) platforms, as reported by several different price aggregation websites. FRIEND Starts Strong but Value Plummets … Read more
As of May 3, 2024, bitcoin’s price stands at $59,142, with a 24-hour intraday range of $57,789 to $60,000. The leading cryptocurrency maintains a market capitalization of $1.15 trillion and has recorded a trading volume of $28.43 billion over the same period. Bitcoin Bitcoin’s daily chart analysis reveals a consistent bearish trend with BTC’s price … Read more
Standard Chartered Bank has warned that bitcoin’s price could potentially decline to $50,000. The head of digital asset research at the bank attributed this forecast to a mix of crypto-specific factors and broader macroeconomic influences. Additionally, he warned about the risk of liquidation for some spot exchange-traded fund (ETF) positions, emphasizing that over half of … Read more
JPMorgan has highlighted a significant increase in selling and profit-taking across equity and crypto markets, driven largely by retail investors. The global investment bank also observed institutional momentum traders and quantitative funds reducing positions, particularly in stocks, bitcoin, and gold. Insights on Market Trends by JPMorgan JPMorgan, a global investment bank, has provided insights on … Read more
Economist and gold advocate Peter Schiff has declared bitcoin to be in a bear market, despite the recent surge in interest in spot bitcoin exchange-traded funds (ETFs). Additionally, he cautioned that economic data provides conclusive evidence that stagflation is not merely a future prospect for the U.S. economy, “but already a current reality.” Peter Schiff … Read more
Sales of non-fungible tokens (NFTs) experienced a 31.26% decline in April from the revenues recorded in March. Last month, statistics show that NFT transactions across several markets totaled approximately $1.15 billion in sales. NFT Revenues Shrink in April, Certain Bitcoin Collections Buck the Trend As April concluded and May commenced, data reveals that NFT sales … Read more
Bitcoin’s technical analysis reveals a protracted bearish trend, reflecting significant selling pressure and resistance to upward movement. With today’s price standing between $57,505 and $58,059 at 8 a.m. ET, oscillators and moving averages predominantly suggest a continuation of this decline. Bitcoin On the BTC/USD daily chart, the trajectory of lower highs and lower lows underscores … Read more
