BTC price eyes $58K CME gap as analysis flags 2 Bitcoin death crosses

August 7, 2024 Coin Telegraph

Bitcoin

Bitcoin faces issues with liquidity despite an admirable comeback from six-month lows — can BTC price upside last?

Bitcoin (BTC) circled $56,000 at the Aug. 7 Wall Street open as concerns emerged over a lack of support.

Data from Cointelegraph Markets Pro and TradingView showed the BTC price rebound stalling, with BTC/USD flat versus the daily open.

Still up by around $7,000 versus the six-month lows seen on Aug. 5, Bitcoin nonetheless continued to worry market observers amid an atmosphere of uncertainty.

<div>99.6% of Pump.fun traders haven't locked in over K in profits: Data</div>

99.6% of Pump.fun traders haven’t locked in over $10K in profits: Data

BTC price chart shows Bitcoin can match $49.5K lows within days

August 6, 2024 Coin Telegraph

Bitcoin

BTC price action has a habit of “filling” downside wicks within days or weeks, the Bitcoin daily chart shows.

Bitcoin (BTC) risks another trip below $50,000 after a giant daily candle wick spooks analysis.

In his latest X coverage, popular trader CrypNuevo warned that recent BTC price volatility may end up in Bitcoin matching six-month lows.

Bitcoin has managed to bounce more than $5,000 versus its $49,500 bottom seen on Aug. 5.

99.6% of Pump.fun traders haven’t locked in over $10K in profits: Data

The Bitcoin bottom is not in — BTC traders set price targets in low $40K range

August 5, 2024 Coin Telegraph

Bitcoin

Crypto traders appear to agree that today’s market rout is far from over.

Bitcoin (BTC) tumbled below $50,000 during the early Asian trading hours on Aug. 5 as risk-off sentiment gripped global markets. Bitcoin is down nearly 31% over the last three days in a “once in a 7-10 yr event” that has left analysts with mixed opinions on whether BTC will recover in the short term.

Bitcoin’s drop below $50,000 has seen more than $500 billion wiped out of the crypto market in just 24 hours, accompanied by the liquidation of many leverage positions.

According to data from Coinglass, approximately $1.08 billion worth of leverage positions have been liquidated across derivatives markets, with long liquidations accounting for 74% of these, at $803.76 million.

99.6% of Pump.fun traders haven’t locked in over $10K in profits: Data

Bitcoin analyst sees seller ‘exhaustion’ as BTC price rebounds 10%

August 5, 2024 Coin Telegraph

Bitcoin

Bitcoin sellers run out of steam and BTC price strength returns at the Wall Street open as US stocks initially avoid copying the fate of their Asian counterparts.

Bitcoin (BTC) sought damage control at the Aug. 5 Wall Street open as crypto markets bounced from a brutal sell-off.

Data from Cointelegraph Markets Pro and TradingView showed a $4,000 BTC price rebound following the start of the United States trading session.

Having dipped below $50,000 for the first time since February, Bitcoin had traders on edge as many predicted further downside as TradFi markets returned.

99.6% of Pump.fun traders haven’t locked in over $10K in profits: Data

Bitcoin eyes $58K CME gap next as 8% BTC price rout sees longs ‘rekt’

August 4, 2024 Coin Telegraph

Bitcoin

BTC price weakness takes the market below $59,000 for the first time since mid-July as "relentless" Bitcoin selling pressure persists.

Bitcoin (BTC) analysis now expects BTC price action to target $58,000 next as long positions get “rekt.”

Data from Cointelegraph Markets Pro and TradingView shows ongoing sell-side pressure forcing BTC/USD to three-week lows.

As a grim weekend sets up an equally grim weekly candle close, market participants warn that Bitcoin bulls may face more pain into next week.

99.6% of Pump.fun traders haven’t locked in over $10K in profits: Data

Bitcoin price loses $60K, but a maturing Wyckoff signal gives hope

August 4, 2024 Coin Telegraph

Bitcoin

The bullish outlook appears despite the ongoing Bitcoin sell-off, which is being led by the growing risks of a recession in the United States.

Bitcoin (BTC) is down over 4% in the past 24 hours, falling below $60K. However, a retest of $74,000 in the coming weeks is possible, at least based on a maturing Wyckoff reaccumulation pattern and increasing odds of three rate cuts by 2024’s end.

The Wyckoff reaccumulation pattern is a technical setup that identifies phases of consolidation and accumulation after a prolonged uptrend.

In this pattern, the price typically goes through nine critical phases, namely Preliminary Supply (PSY), Buying Climax (BC), Automatic Reaction (AR), Secondary Test (ST), Spring, Test, Last Point of Support (LPS) and finally, the Sign of Strength (SOS).

99.6% of Pump.fun traders haven’t locked in over $10K in profits: Data

BTC price slumps to $62K as Bitcoin bulls bet on M2 money supply

August 3, 2024 Coin Telegraph

Bitcoin

Bitcoin offers a modest BTC price comeback after hurtling toward $60,000 in step with stocks worldwide.

Bitcoin (BTC) sought to reclaim $62,000 on Aug. 3 as markets inched higher after a fresh liquidation cascade.

Data from Cointelegraph Markets Pro and TradingView showed a 3% BTC price rebound taking shape after fresh multi-week lows of $60,435 on Bitstamp.

These accompanied a grim day for stocks worldwide, with the Nikkei’s 6% drop setting the scene for more losses on Wall Street. United States employment data, which fell far short of expectations, exacerbated the sense of panic.

99.6% of Pump.fun traders haven’t locked in over $10K in profits: Data

Bitcoin whale volume from exchanges hits 9-year high as analysts call BTC price bottom

August 3, 2024 Coin Telegraph

Bitcoin Analysis

The last time Bitcoin whales moved this many coins from exchanges was when the BTC price was around $220 in 2015.

Bitcoin (BTC) whales, or addresses with over 1,000 BTC, or at least $64 million, have added 84,000 BTC in July despite the cryptocurrency market’s recent crab walk. What’s more, whales have been moving BTC from exchanges at the fastest pace since 2015.

Bitcoin whales continue accumulating and taking the coins off exchanges, despite the recent sluggish momentum in the BTC/USD pair.

Notably, Bitcoin whales with at least 1,000 BTC have moved the most Bitcoin out of exchanges since 2015, marking the biggest spike in nine years, according to the whale net position change metric by Glassnode. Around 64,000 BTC has left whale exchange balances in the past 30 days.

99.6% of Pump.fun traders haven’t locked in over $10K in profits: Data

Bitcoin traders risk-off as BTC price falls to $62K — Is a generational bottom approaching?

August 2, 2024 Coin Telegraph

Bitcoin

Bitcoin traders anticipate a potential price drop below $60,000. Will dip buyers show up?

Bitcoin (BTC) dropped by $2,300 one hour after the Wall Street opening on Aug. 2, reaching $62,368 on Coinbase. Bitcoin price has seen little change, rising 1% over the last 24 hours to trade at $63,252.

This sell-off has seen the price lose key support levels: the 50-day exponential moving average (EMA) at $64,300 and the 100-day EMA at $63,670.

“We got the #Bitcoin sweep I was waiting for and a nice reclaim of the range,” declared Bitcoin analyst AlphaBTC in an Aug. 2 post on X.

99.6% of Pump.fun traders haven’t locked in over $10K in profits: Data

Bitcoin traders warn of tough Q3 as Nikkei echoes ‘Black Monday’ 1987

August 2, 2024 Coin Telegraph

Bitcoin

Bitcoin faces traditionally challenging months, while Japan sees stock sell-off unmatched in nearly 40 years.

Bitcoin needs to hold $60,000 for a shot at fresh all-time highs as traders voice concerns over BTC price performance.

Data from Cointelegraph Markets Pro and TradingView shows Bitcoin (BTC) bouncing from fresh two-week lows of $62,235 on Aug. 2.

Bitcoin continues to tease a breakdown toward $60,000 as risk assets see a period of flux to start the month.

BTC price

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