Bitcoin

Momentum signals remain negative on the daily, weekly and monthly charts, which typically leads to a period of low or negative returns. Further, BTC is on track for its first-ever consecutive seven-week decline, according to Coinbase price data provided by TradingView, dating back to 2014. That’s also a sign of negative price momentum. Source link

It has been a rough week for the cryptocurrency market, primarily because of the Terra ecosystem collapse and its knock-on effect on Bitcoin (BTC), Ethereum (ETH) and altcoin prices, plus the panic selling that took place after stablecoins lost their peg to the U.S. dollar. The bearish headwinds for the crypto market have been building since late 2021 as the U.S. dollar gained strength and the United States Federal Reserve hinted that it would raise interest rates throughout the… Source link

Bitcoin hits intra-day high above $30,000 TerraUSD collapse shakes crypto market Analysts say impact on traditional markets limited HONG KONG/LONDON/NEW YORK, May 13 (Reuters) – Cryptocurrencies steadied on Friday, with bitcoin recovering from a 16-month low after a volatile week dominated by the collapse in value of TerraUSD, a so-called stablecoin. Crypto assets have been swept up in broad selling of risky investments on worries about high inflation and rising interest rates. But broader… Source link

In traditional markets, the Dow Jones Industrial Average fell for a sixth straight day, and the S&P 500 took a 19.4% hit from its high of 4,800 in January. The S&P 500 is now at 3,868, and according to a popular rule of thumb used by investors, a dip of 20% or more signals the start of a bear market. Source link

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Terra is crumbling. The blockchain project home to the popular algorithmic stablecoin TerraUSD (UST), which had recently become the fourth-largest stablecoin by market value but now sits at fifth, is near collapse as UST repeatedly fails to sustain its $1 peg and LUNA, the blockchain’s native token, nears zero. Terraform Labs, the tech start-up behind the development of Terra, halted the production of new blocks on the network on Thursday “to prevent goverance attacks following severe… Source link

WEST PALM BEACH, Fla. — The cryptocurrency crash is currently separating faithful followers from ambitious investors. Bitcoin — crypto’s most stable coin — has dropped substantially from its highest value of $67,000 in November 2021. Bitcoin plunged to $25,000 Thursday but had rebounded to more than $28,000 by the afternoon. Cryptocurrency’s volatility has been something that financial experts have warned about for many years. RELATED: Crypto mining 101: How are people making money from… Source link

Avi Rozen/iStock Editorial via Getty Images I’ll start this off by addressing the elephant in the room. This is not fun. Pure and simple. And I’ve been wrong on every bullish Bitcoin (BTC-USD) article this year. Not only are we witnessing the return of wild volatility to the downside in the cryptocurrency market, but we’re seeing just how dependent on low rates and easing the broader financial system really is. Everything seems to be the same trade at this point. You’re either long dollars… Source link

As governments in the region closely watch El Salvador’s experiment, and a second nation, the Central African Republic, follows suit with Bitcoin adoption, Bukele’s difficulties suggest that efforts to transition whole nations to cryptocurrencies are fraught with pitfalls. “Nothing positive has happened,” said Ezequiel Milla, former mayor of La Union, speaking near the base of a volcano on the country’s east coast that Bukele plans to use for geothermal-powered Bitcoin mining. The… Source link

HONG KONG / LONDON, May 12 (Reuters) – The meltdown in TerraUSD, one of the world’s largest stablecoins, sent shockwaves through cryptocurrency markets on Thursday, pushing another stablecoin Tether below its dollar peg and sending bitcoin to 16-month lows. Cryptocurrencies have been swept up in a sell-off across higher risk assets, which has picked up steam this week as data showed U.S. inflation running hot, deepening investor fears about the economic impact of aggressive central bank… Source link