Bitcoin

For bitcoin, a stronger dollar outlook means more people will likely prefer to hold the buck, said one analyst. Photo: AP Bitcoin fell to a 6-month low on Tuesday, breaking a key support level of $30,000. Cryptocurrencies were broadly under pressure on Tuesday morning amid a market sell-off. Analysts said a strengthening dollar and a global move to de-risk investments was hitting the asset class. Bitcoin (BTC-USD) was down about 5.6% to trade at $29,834 (£21,832) on Tuesday morning in London…. Source link

Bitcoin’s selloff accelerated Monday, pushing it closer to US$30,000 once again. The world’s largest digital coin, down as much as 3.3 per cent at one point during the session, continues to ebb closer to the pivotal round-number level, trading around US$30,628 as of 9:41 a.m. in New York. Chartists are watching to see if it breaks below that support, which could exacerbate its decline and set it up for its lowest close since the start of the year. The retreat comes amid a broader… Source link

Bloomberg Stock Selloff Deepens, Bonds Climb on Virus Spread: Markets Wrap (Bloomberg) — Stocks slumped around the globe and bonds climbed as the spread of the delta variant cast a pall over the economic recovery.All major groups in the S&P 500 retreated, led by commodity, financial and industrial companies. Airlines and cruise operators tumbled amid concern over further travel restrictions, while a gauge of small caps slid about 2%. European shares headed for their biggest slide this year,… Source link

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Bitcoin bounced to around $32,200 after touching a 2.5-week low early Friday near $31,000.  The largest cryptocurrency by market value may have been buoyed by a CoinDesk report that Bank of America has approved trading in bitcoin futures for some clients, according to Edward Moya, senior market analyst for Oanda.  “This is a big commitment for America’s second-largest bank and signals that interest in trading cryptocurrencies is here to stay,” Moya wrote in an email. “On Wall Street,… Source link

Follow @crypto Twitter for the latest news. Bitcoin has been grinding lower in a trading range just above $30,000, prompting cryptocurrency insiders to flag the round number as a potential floor for the virtual coin. Crypto prognostication is fraught with risk, not least because Bitcoin’s price has roughly halved from a record high three months ago. Even so, some in the industry are coalescing around $30,000 as a support point, citing clues from options activity and… Source link

Bitcoin remains on a downward trajectory toward $32,000 despite rallying as much as 4.6% during the early trading hours in Asia on Wednesday. Bouncing from a 24-hour low of $31,620, prices were hovering just around $32,500 at press time after reaching a 24-hour high of $33,182, CoinDesk data show. The gradual slide is continuing to eat into year-to-date gains, which stand just above 12%. Intraday volume for the world’s oldest cryptocurrency remains considerably lower than weeks past, with… Source link

China’s share of global electricity usage for bitcoin mining fell to under half for the first time this April, while Kazakhstan has catapulted to third place as its share of mining increased sixfold. China’s global hashrate, the computational power required to mine new bitcoins, fell from over 75 per cent to 46 per cent of the global total between September 2019 and April 2021, according to data from the Cambridge Centre for Alternative Finance. The following month, Source link

Follow @crypto Twitter for the latest news. Bitcoin’s stayed quiet so far this month, even as inflation prints show up hotter than expected. Chartists are now keying in on technical indicators to see where it could be headed. The price of Bitcoin is nearing the lower band of its Trading Envelope indicator — which smooths moving averages to map out higher and lower limits — suggesting it’s near a critical inflection point. If the lower level of the band is breached,… Source link

Bitcoin (BTC) decreased considerably on July 13, resuming the descent that began the previous day and hit a low of $32,202. So far, BTC has continued moving downwards in the early hours of July 14. However, it’s rapidly approaching a confluence of support levels. BTC trading range BTC is still trading inside the range of $31,300 and $40,550 that’s been in place since May 19. Currently, it’s trading slightly above the $31,300 horizontal support area. The price has been moving downwards… Source link