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Bitcoin fell below $17,000 on Dec. 16, as bearish pressure continued to intensify following yesterday’s disappointing U.S. retail sales figures. Sales in the United States were down by 0.6%, which news came less than 24 hours after the Federal Reserve moved to hike interest rates. Ethereum moved closer to the $1,200 level in today’s session. Bitcoin Bitcoin (BTC) fell below $17,000 in today’s session, as markets continued to react to last month’s retail sales data. As retail… Source link

Litecoin has observed a plunge of more than 7% in the last 24 hours, suggesting that the coin’s bullish momentum may have come to an end. Litecoin Drops Hard TodayS But Is Up 20% In The Last Month While the rest of the crypto market was struggling, LTC enjoyed some sharp bullish momentum in the third leg of November, leading some to believe the “pre-halving rally” had begun for the crypto. But the first half of December proved disappointing as the coin mostly consolidated, and now in… Source link

Coinbase (COIN -5.50%), one of the world’s largest cryptocurrency exchanges, went public through a direct listing last April. It closed at $328.28 on the first day. Coinbase initially dazzled the bulls as Bitcoin (BTC -3.15%), Ether (ETH -5.31%), and other cryptocurrencies surged to record highs. But over the past year, the crypto market collapsed as rising interest rates drove investors toward more conservative investments. The failures of numerous smaller cryptocurrencies and exchanges… Source link

Ethereum Shanghai hard fork is scheduled for March 2023, after which the fork stakers/ validators can withdraw ETH from Beacon chain.  Experts have estimated that 15 million Ethereum tokens, representing 12% of the total ETH supply can be withdrawn.  Ethereum price is facing resistance at the $1,278 level, a break past this could push ETH towards the $1,312 level.  Ethereum Shanghai hard fork’s tentative deadline is March 2023. Developers are working on an… Source link

Bitcoin (BTC) fell below $17,000 on Dec. 16 as traders warned of overreaction to “FUD” involving exchange Binance and others. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Binance “FUD” fuels bearish BTC moves Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it put in multi-day lows of $16,928 on Bitstamp. The pair retraced its entire run to one-month highs courtesy of the latest macroeconomic data and policy update from the United States. Amid ongoing… Source link

Bitcoin (BTC) fell below $17,000 on Dec. 16 as traders warned of overreaction to “FUD” involving exchange Binance and others. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Binance “FUD” fuels bearish BTC moves Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it put in multi-day lows of $16,928 on Bitstamp. The pair retraced its entire run to one-month highs courtesy of the latest macroeconomic data and policy update from the United States. Amid ongoing… Source link

Bear markets are for building Bitcoin (BTC) companies. At least, that’s what the Legends of Lightning, a nine-week contest for competing Bitcoin businesses, would indicate.  The tournament-come-hackathon ran more than 65 events worldwide as 73 projects battled it out to win 3 BTC ($50,000). The competition crowned Bitcoin startups Lightsats and AgriMint as winners of two separate competition tracks, Global Adoption and Building for Africa. Organized by Bitcoin startup Bolt Fun, the… Source link

Bitcoin and Ethereum have just given up all fresh gains earned following this week’s optimistic CPI report. Bitcoin, the largest cryptocurrency by market capitalization dropped nearly 4% over the past 24 hours and is now hovering at just above $17,000, per CoinGecko. Bears have also regained control of Bitcoin on the weekly basis, with the cryptocurrency down 1.2% over the past seven days. Ethereum, meanwhile, has plummeted nearly 6% in the past day, according to CoinGecko. It’s still roughly… Source link

Things could soon go from bad to worse for bitcoin (BTC) traders looking for bullish cues on technical charts. The cryptocurrency’s 50-week simple moving average (SMA) is falling fast and looks set to cross below the 200-week SMA for the first time on record. According to technical analysis theory, the bearish intersection of the two averages, often referred to as the “death cross,” means the market is about to head into a tailspin. Bitcoin has dropped 75% since reaching a record high of… Source link