Bitcoin Analysis  Bitcoin’s price made its lowest daily candle close since November 11th, 2020 on Monday and when traders settled-up for the 24 hour trading session, BTC’s price was -$510.9.  The BTC/USD 1W chart from andre_007 is where we’re leading-off this Tuesday’s price analyses. At the time of writing, BTC’s price is trading between the 0.5 fibonacci level [$14,682.79] and 0.618 fib level [$21,154.7].   As noted in yesterday’s article, BTC market participants… Source link

The crypto market has been battered this year, with more than $2 trillion wiped off its value since its peak in Nov. 2021. Cryptocurrencies have been under pressure after the collapse of major exchange FTX. Jonathan Raa | Nurphoto | Getty Images Bitcoin on Tuesday hit a two-year low as the cryptocurrency market takes a bruising following the collapse of major exchange FTX. Bitcoin hit $15,480, its lowest level since Nov. 11, 2020, according to CoinDesk data. The digital coin has since bounced… Source link

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing Source link

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content. Ethereum versus Polygon was the question on many investors’ lips over the last year as the bull market rumbled on. While Ethereum (ETH) has been the go-to blockchain for decentralized finance projects and NFT releases, Polygon (MATIC) was starting to become a competitor for fee-free NFT listing on Open Sea. There was a chance… Source link

Bitcoin price extended losses and retested the $15,800 support. BTC could continue to move down towards the $15,000 and $14,000 levels. Bitcoin started a fresh decline below the $16,000 and $15,800 levels. The price is trading below $16,400 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $16,150 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair remains at a risk of more losses towards the $15,000 level or… Source link

Mike Dershewitz, head of risk committee at Arca Funds, wrote Monday: “DCG can also sell off a portion of its Grayscale equity. Assuming $300M in annual net income, this cash flow stream should be worth at least $2.5B, depending on how a would-be investor/buyer values the longevity of this cash-flow stream.” Source link

Dennis Diatel Photography The Grayscale crypto trusts have been in freefall and we’re starting to get some theories as to why. Grayscale has over a dozen single-asset crypto funds that trade publicly over the counter. Of those 13 single-asset funds, 8 are SEC-reporting. All of them have been beat up over the last week specifically with contagion concerns following the FTX (FTT-USD) collapse being the main driver of the panic. The cryptos underlying each of these funds have performed very… Source link

AntonioSolano / iStock.com The Ethereum Name Service provides a distributed, open and extensible naming system for not just ethereum, but other types of cryptocurrencies and NFTs. It is based on the Ethereum blockchain, which is also the blockchain behind the… Source link

Litecoin Network recently processed its 135,000,000th transaction LTC’s market indicators favored a bullish stance for the alt  Litecoin [LTC] recently achieved a milestone by flipping Solana [SOL] to become the 15th largest cryptocurrency in terms of market capitalization. As per CoinMarketCap, at press time, LTC was trading at $60.71 with a market cap of more than $4.37 billion.  LTC’s weekly performance also looked pretty promising, as its price increased over 8% in… Source link

RSI for ETH has fallen below 30, 118 times, implying that ETH has been an undersold asset more often than BTC, despite the shorter date range. The average one-day, seven-day and 30-day returns following a sub-30 reading have been 0%, -1.8% and 13.5%. Source link