Bitcoin

The cryptocurrency market is still recovering from last month’s volatile correction. Bitcoin (BTC) was up about 4% over the past 24 hours as of press time and was holding support above $35,000. Technicals suggest limited upside towards $40,000 and $45,000 as resistance remains strong.  Bitcoin (BTC) trading around $37,800 as of 21:00 UTC (4 p.m. ET). Gaining 4.25% over the previous 24 hours. Bitcoin’s 24-hour range: $35,805.21-$38,214.79 (CoinDesk 20) Ether (ETH) trading around $2,756 as… Source link

The finance minister of Norway appeared to break away from the chorus of Bitcoin critics and suggested that cryptocurrencies will at some point move past the volatility for which they’re currently known and experience a period of “breakthroughs.” “It is clear that there may be a development over time, whereby you will be able to get more stabilization mechanisms in the currencies that can lead to greater breakthroughs and upheavals in the slightly longer term,” Jan Tore Sanner said… Source link

Bitcoin volatility hit a 13-month high in May amid sharp fluctuations. (Photo illustration by Edward … [+] Smith/Getty Images) Getty Images Bitcoin prices had a wild May, experiencing sharp gyrations while they lost close to half their value in a matter of weeks. The digital currency’s annualized 30-day volatility reached 116.62% on May 24, its highest since April 10, 2020, data provided by asset manager Blockforce Capital reveals. This particular measure climbed to its… Source link

The price of Bitcoin appears to have achieved some stability over $35K, but its next moves will be crucial. Since the price of BTC dropped below $40K in mid-May, the price of the asset has meandered throughout the $32K-$38K range, never quite managing to build enough support to recapture $40K. Analysts believe that if support about $35K continues to build, there could be a meaningful and sustained movement toward $40K and above, one that is not so pumped on leverage. However, if not BTC could… Source link

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Investors have been selling bitcoin for the past week, according to on-chain data. Meanwhile, ether’s daily trading volumes have consistently outpaced BTC’s. Bitcoin (BTC) trading around $35,987 as of 21:00 UTC (4 p.m. ET). In the red 2.5% over the previous 24 hours. Bitcoin’s 24-hour range: $35,754-$37,833 (CoinDesk 20) Ether (ETH) trading around $2,549 as of 21:00 UTC (4 p.m. ET). Losing 3.2% over the previous 24 hours. Ether’s 24-hour range: $2,532-$2,734 (CoinDesk 20) Bearish bitcoin… Source link

Editor’s note Be careful with cryptocurrency. Bitcoin — and the entire crypto market — is highly volatile and we do not recommend any particular cryptocurrency. For many people, Bitcoin is cryptocurrency. Ask them ‘What is Bitcoin?’ and you might not get the right answer — but they’d at least have heard of it. That’s hardly surprising, because although Bitcoin is far from the only cryptocurrency, it was the first to be created and it remains by some distance the most famous and the most… Source link

Interested in ETFs? Visit our ETF Hub for investor news and education, market updates and analysis and easy-to-use tools to help you select the right ETFs. Exchange traded fund managers eager to cash in on the frenzied trading around cryptocurrencies are bracing themselves for longer than expected regulatory scrutiny after comments from Securities and Exchange Commission chair Gary Gensler damped hopes of a swift approval of bitcoin ETFs this year. In testimony before the… Source link

NEW DELHI: With a drop of 36% in May, Bitcoin has posted its worst fall since November 2018 as lofty valuations, concerns over its environmental impact and a regulatory crackdown on cryptocurrencies in China took a toll. Moreover, Bitcoin’s fall last month is the second-biggest since May 2013, as per data available with cryptocurrency tracker CoinGecko. The bearish factors for bitcoin during the month included higher-than-expected inflation data in the US, Tesla chief Elon… Source link

Follow us @crypto for our full coverage. A lull in Bitcoin’s wild swings in recent days has been taken by some as a tentative sign the fragile digital currency could recover. The world’s largest cryptocurrency was little changed at $36,425 as of 6:45 a.m. in New York on Tuesday, following two straight sessions of gains. Swings in the price — as measured by the spread between its daily high and low — have fallen to their lowest since… Source link