Arman Shirinyan Ethereum’s plunge below $1,200 is result of selling pressure coming from one fund Ethereum’s reversal from the local resistance level was not something that most of the market anticipated in the weekend trading session on the cryptocurrency market. However, on-chain data clearly shows why the second biggest cryptocurrency broke down in such an unexpected manner. According to Nansen’s data, the Jump Crypto fund deposited more than 2,850 ETH into various centralized… Source link

Ethereum failed to clear the $1,250 resistance against the US Dollar. ETH is moving lower and might decline heavily if it breaks the $1,140 support. Ethereum struggled to gain pace for a move above the $1,250 resistance level. The price is now trading below $1,180 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $1,210 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bearish momentum if there is no clear… Source link

The leading cryptocurrency, Bitcoin, failed to break a descending triangle pattern and fell over 3% to $16,160 amid an increased level of FUD in the market.  Likewise, the second-most valuable cryptocurrency, Ethereum, has followed Bitcoin’s lead and fallen sharply by nearly 5% to $1,171. Crypto Market Cap Update The global crypto market cap fell over 2% to $815.32 billion the previous day, sending major cryptocurrencies into the… Source link

Bitcoin price struggled to clear the $16,800 resistance. BTC is moving lower and there is a risk of more losses below the $16,000 support zone. Bitcoin attempted an upside break above the $16,800 resistance, but failed. The price is trading below $16,500 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $16,550 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to decline if it breaks the $16,000… Source link

Bitcoin was little changed in Monday morning trading amid mixed results from the other top 10 non-stablecoin cryptocurrencies following a relatively muted few days of trading over the Thanksgiving weekend in the U.S. Memecoin Dogecoin was the standout performer as longtime token advocate and new Twitter Inc. boss Elon Musk used the platform to announce a significant development for his electric car company Tesla Inc. See related article: Binance releases proof of reserves Fast facts Bitcoin… Source link

Bitcoin was little changed in Monday morning trading amid mixed results from the other top 10 non-stablecoin cryptocurrencies following a relatively muted few days of trading over the Thanksgiving weekend in the U.S. Memecoin Dogecoin was the standout performer as longtime token advocate and new Twitter Inc. boss Elon Musk used the platform to announce a significant development for his electric car company Tesla Inc. See related article: Binance releases proof of reserves Fast facts Bitcoin… Source link

Alex Dovbnya There’s a “decent probability” that Bitcoin sees another price crash, a prominent trader says Jake Wujastyk, VP at TrendSpider LLC, believes that the 2017-2019 monthly closes are an “inevitable area” for Bitcoin, the largest cryptocurrency to test.  Wujastyk adds that there is a decent probability that such a scenario could play out.  After hitting $19,666, the peak of the previous bull run, Bitcoin closed December 2017 at $13,880. The largest cryptocurrency… Source link

Bitcoin (BTC) millionaires are becoming an increasingly rare breed as numbers fall 80% in a year. According to the latest data from on-chain analytics firm Glassnode, there are now just 23,000 wallets with a BTC balance worth $1 million or more. 1 year, 90,000 fewer million-dollar BTC wallets In yet another indication of how far the crypto market has fallen since Bitcoin’s last all-time highs, Bitcoin millionaires have been seriously feeling the pinch. Glassnode, which tracks multiple cohorts… Source link

Bitcoin (BTC) has been trading in a tight range since Thanksgiving Nov. 24, as traders are uncertain about the next directional move. Usually, in a bear market, analysts tend to become uber-bearish and project targets that tend to scare away investors. The failure of Bitcoin to start a strong recovery has given rise to several bearish targets, which extend up to $6,000 on the downside. Although anything is possible in a bear market, traders who have a long-term view could try to accumulate… Source link

The second largest cryptocurrency, Ethereum (CRYPTO: ETH), traded lower on Friday, falling below the $1,200 level, before bouncing back above the key level early Sunday. According to Santiment, Ethereum whales are accumulating the cryptocurrency at the highest rate since 2020. Santiment said the last accumulation at this scale happened in 2020. At that time, it sparked an ETH rally which saw the price rise by 50%. Last week, ETH whales moved a massive $1.03 billion worth of Ethereum in just one… Source link