DeFi News Official TheBitTimes.com

Bitcoin faces a watershed moment thanks to an inflammatory cocktail of inflation spurred by war — and a $1 million BTC price is still possible, the former BitMEX CEO says. Bitcoin (BTC) faces a “ trigger ” moment which keeps a $1 million BTC price tag in play, one of its household names says. In a blog post titled “The Periphery” released on Oct. 24, Arthur Hayes, former CEO of crypto exchange BitMEX, said that Bitcoin is already warning markets about the future. "Global wartime inflation" to drive Bitcoin, gold price With the United States increasingly invested in two new wars, the risk of escalation worldwide is growing, Hayes believes. The timing is conspicuous — the U.S. Federal Reserve faces persisting inflation but has halted interest rate hikes, and a so-called “bear steepener” looms for the economy. “The structural hedging needs of banks and the borrowing needs of the US war machine reflexively feed on one another in the US Treasury market,” he wrote. “If long-term U...

BTC price has various reasons to return to $20,000, from a "head and shoulders" pattern to a FUD-induced cascade, Bitcoin analysis warns. Bitcoin (BTC) hit six-week highs to start October, but some forecasts still see a BTC price return to $20,000. While up around 6% since the start of last month and now circling $27,500, Bitcoin is not fooling many with its current price behavior. Analyst: October "should be bearish" for Bitcoin later on BTC price strength in recent weeks has many market participants hoping for a push to — and even through — $30,000 resistance. For some, however, there remains every reason to be cautious. In X analysis published on Oct. 2, popular trader and market analyst CryptoBullet reiterated that $20,000 is still very much on the radar as a BTC price target. The latest trip to $28,600, he argued, is now forming the right hand shoulder of a classic “head and shoulders” chart pattern — with downside logically due to follow if it completes. “S...

Bitcoin’s failed breakout to the upside shows that the range-bound action could continue for some time but that may not hinder the bullish possibilities in TON, LINK, MKR, and XTZ. Bitcoin (BTC) tried to break out of its range in the first half of last week but the bulls could not sustain the higher levels. Bitcoin is back inside the range and is trading near the $26,000 level. The price action of the past few days has formed two successive Doji candlestick patterns on the weekly chart, indicating uncertainty about the next directional move. Although it is difficult to predict the direction of the breakout, the downside could be limited in the near term on expectations that the United States Securities and Exchange Commission (SEC) may eventually approve one or more pending applications for a spot Bitcoin exchange-traded fund. Former commission chair Jay Clayton sounded confident when he said in a recent interview that “an approval is inevitable.” Crypto market data daily view. Sourc...

Meme coins reflect a higher beta to the entire crypto sector, but does their recent 25% price drop signal a deepening bear market for BTC, ETH and large caps? The recent crypto crash hit meme coins hard, culminating with a 9% drop in total market capitalization from Aug. 14 to Aug. 21. During the same period, Pepe (PEPE), Shiba Inu (SHIB), and ApeCoin (APE) saw a 25% decline. The big question is whether this trend will affect the wider market, signaling a broader bear market or simply reflects lagging performance of meme coins. Total crypto cap (blue) vs. Pepe/USDT (green), Shiba/USDT (red), Apecoin/USDT (orange), August 2023. Source: TradingView Meme coins, like Dogecoin (DOGE), burst onto the scene driven by viral memes and community enthusiasm. However, their appeal faded due to a mix of factors. These coins rely on media hype and online communities for attention, yet they lack value beyond their meme origins. Their speculative nature leads to rapid price changes and volatility. F...

Bitcoin Realized Cap HODL Waves signal that the current bull market launch is a classic repeat of BTC price history. The Bitcoin (BTC) metric that nailed the pit of the 2022 bear market says its uptrend is still intact. In an X post on Aug. 22, creator of on-chain analytics platform LookIntoBitcoin, shared some good news in the form of Bitcoin’s Realized Cap HODL Waves (RHODL). Analyst: "New money" flowing into Bitcoin in 2023 While last week’s 10% BTC price dip has upended some of the on-chain landscape, RHODL is one of the metrics taking a longer-term view of what remains a timely bull market. The metric takes existing HODL Waves data — which groups the BTC supply by when each coin, or specifically UTXO, last moved — and weights it by realized price, i.e. the price at which it last moved. If this sounds complicated, the results have clear implications. “Peaks in younger age bands highlight periods where they have a proportionally higher Realized Value weighting relative to...

This bullish wave appears to be traversing the market, as Ethereum is up 1.3% to $1,876, XRP is up 2% to $7.1 while BNB is trading at $242 following 1.8% of 24-hour gains. advertisement Bitcoin Price Ready to Tackle $30k Resistance Bitcoin price is on the move to retest the seller congestion at $30,000. Its uptrend is grounded in the support established around $29,000 – an area that has been instrumental in preventing declines to $28,000 and subsequently $25,000. The ongoing uptrend could be attributed to oversold conditions in lower timeframes – likely to result in a buy signal from the Moving Average Convergence Divergence (MACD) indicator. That said, traders should be on the lookout for a potential bullish cross in the momentum indicator, especially on the daily chart, marked by the MACD line in blue crossing above the signal line in red. Recommended Articles ...

Bitcoin bulls slowly claw back lost ground on the road to a $30,000 rematch as the U.S. banking crisis lingers. Bitcoin (BTC) eyed a reclaim of further lost ground on May 5 as $30,000 remained in play.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price action rebounds from stocks slump Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it spiked to $29,529 on Bitstamp - a new May high. The pair had dipped with United States equities at the Wall Street open the day prior, but the weakness was short lived as $29,000 support returned. Ongoing market jitters from the U.S. banking crisis, now impacting several regional banks, continued to shape observer sentiment. What are we drinking this weekend, left or right bank? pic.twitter.com/Mp2yXcI2Fa — Arthur Hayes (@CryptoHayes) May 4, 2023 “100% of all regional Banks in the United States have their stocks in the red today, for the first time ever,” crypto media account Whalewire noted on Twitter....

Bitcoin continues to benefit from unfolding nerves over U.S. bank stability as a BTC price short squeeze becomes possible once more. Bitcoin (BTC) headed toward $29,000 on April 26 after overnight gains marked a solid rebound. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin short squeeze risk on the rise Data from Cointelegraph Markets Pro and TradingView showed BTC/USD advancing swiftly during Asia trading to deliver 6.5% upside versus its local lows. The pair had begun its comeback after the April 25 Wall Street open amid fresh concerns over United States bank stability. These came as First Republic Bank reported a dramatic fall in deposits, its share price tanking 50% on the day. A familiar catalyst for crypto markets, the banking crisis reminded investors that it had gone nowhere since March, with crypto sources already predicting its next chapter. When this bank bites the dust, probably later this week, we will be closer to the mrkt realising the entire US ba...

Ether stakers have withdrawn $1.21 billion worth of ETH from Ethereum staking contracts since the Shapella upgrade. Ethereum's Ether (ETH) token has entered a sharp price recovery a week after hitting a six-month low versus Bitcoin (BTC).  On April 18, the widely-tracked ETH/BTC pair reached 0.0709 BTC, up about 15% from its local bottom of 0.0602 BTC six days ago. Now, the pair eyes a run-up toward 0.075 BTC by June, based on the fractal setup previously discussed here. ETH/BTC daily price chart. Source: TradingView Ethereum's Shapella FOMO Interestingly, Ether's local bottom formation versus Bitcoin occurred on the day of Ethereum's long-awaited Shapella upgrade. The hard fork enables Ether stakers to withdraw their rewards — around 1.1 billion ETH — from Ethereum's proof-of-stake smart contract. This update may have boosted ETH's appeal compared to BTC, beating anticipations that a freshly unlocked Ether supply would increase sell-pressure. Stakers have wi...

Strong U.S. equities and a floundering dollar normally serve to boost BTC price action — but Silvergate is the elephant in the room. Bitcoin (BTC) stayed lower into the weekend as ongoing problems at Silvergate bank pressured markets. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView Bad news holds Bitcoin back Data from Cointelegraph Markets Pro and TradingView showed BTC/USD lingering at around $22,350 on March 4. The pair had managed to avoid further losses after the initial shock around Silvergate wiped 5% off spot price in minutes.  With United States equities delivering a strong finish to the week, however, Bitcoin and altcoins remained unable to capitalize on what traders argued would normally be an opportunity for gains. "Most global equity indices have now printed higher lows…," popular commentator Tedtalksmacro wrote in part of an update overnight. "If it weren’t for the silvergate fears, BTC would be primed to breach the highs above 25k next week....

Bitcoin can see its market cap increase 500 times over, Jesse Myers believes, thanks to its inherent scarcity and other traits. Bitcoin (BTC) can hit $10 million per coin or more as it eats 25% of the global wealth , new Analysis has concluded. In a blog post released on Feb. 16, fund manager and Bitcoin expert advisor Jesse Myers revealed his own “outrageous” BTC price target. Myers: "Bitcoin could 500x over the coming decades" Bitcoin may struggle with “brutal” volatility, but hodlers and critics alike should be in no doubt about its long-term price trajectory, Myers says. Analyzing Bitcoin’s value proposition, he argues that Bitcoin’s ability to appreciate over time means that it is all but destined to suck in value from other asset classes. Among other reasons, this is because an asset with such appreciation characteristics and increasing scarcity allows it to fulfill the role of “digital gold.” “Bitcoin has an unthinkable property: it gets more valuable over time. Gol...