Familiar support zones are back on the radar after $25,000 proves too much for Bitcoin bulls.
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Here are Bitcoin price levels to watch as BTC dips 5% from highs
Bitcoin (BTC) headed lower on Aug. 12 as a broadly expected comedown from two-month highs began to take shape.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView200-week moving average becomes pivot
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to $23,615 on Bitstamp prior to the day's Wall Street open, marking 24-hour losses of around 5.2%.
The pair had seen its highest levels since June 13 as enthusiasm over declining United States inflation combined with news that the world's largest asset manager, BlackRock, was launching a Bitcoin private fund.
While some commentators hoped for Bitcoin to tackle resistance closer to $30,000 as a result, others remained cautious, with suspicions that a fresh downtrend could ensue remaining.
"Volume is dying. Channels are not impulses but corrections," popular trading account Il Capo of Crypto wrote in its latest update on the day.
Here are Bitcoin price levels to watch as BTC dips 5% from highs
Familiar support zones are back on the radar after $25,000 proves too much for Bitcoin bulls.
Here are Bitcoin price levels to watch as BTC dips 5% from highs
Bitcoin (BTC) headed lower on Aug. 12 as a broadly expected comedown from two-month highs began to take shape.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView200-week moving average becomes pivot
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to $23,615 on Bitstamp prior to the day's Wall Street open, marking 24-hour losses of around 5.2%.
The pair had seen its highest levels since June 13 as enthusiasm over declining United States inflation combined with news that the world's largest asset manager, BlackRock, was launching a Bitcoin private fund.
While some commentators hoped for Bitcoin to tackle resistance closer to $30,000 as a result, others remained cautious, with suspicions that a fresh downtrend could ensue remaining.
"Volume is dying. Channels are not impulses but corrections," popular trading account Il Capo of Crypto wrote in its latest update on the day.
Axie Infinity cuts rewards from classic game, subtly forcing P2E players to new mode
The team described the move as part of its efforts to balance the economy for the Smooth Love Potion token.
S&P Global downgrades Coinbase credit rating for weak Q2 earnings, competitive pressures
Coinbase Global sees its credit rating downgraded by S&P Global amid regulatory pressures, weakened market performance and competitors.
Dutch authorities arrest suspected Tornado Cash developer
The Dutch Fiscal Information and Investigation Service doesn't rule out multiple arrests in its ongoing criminal investigation against the crypto mixer Tornado Cash.
Dutch authorities arrest suspected Tornado Cash developer
The Dutch Fiscal Information and Investigation Service doesn't rule out multiple arrests in its ongoing criminal investigation against the crypto mixer Tornado Cash.
Dutch authorities arrest suspected Tornado Cash developer
The Dutch Fiscal Information and Investigation Service doesn't rule out multiple arrests in its ongoing criminal investigation against the crypto mixer Tornado Cash.
Brazilian payment app PicPay launches crypto exchange with Paxos
The integration with Paxos marks the first move for PicPay to introduce its 30 million customers to digital assets and help them understand Bitcoin.
Three-quarters of institutions to use crypto in the three years: Ripple
Ripple's new Value Report on enterprise crypto and blockchain highlights NFT, blockchain and CBDC utility in business settings.
Binance recovers the majority of funds stolen from Curve Finance
Binance recovered and froze around $450,000 worth of the stolen assets, which is around 80 percent of the stolen funds.
Institutional staking won’t take off unless asset lock-up solved: Coinbase CFO
Coinbase’s new institutional-focused staking product won’t be a “near-term phenomenon” while liquid staking is still being worked out.
3 cryptocurrencies that stand to outperform ETH price thanks to Ethereum's Merge
It's not just ETH price that stands to benefit from Ethereum's move to proof-of-stake in September.
3 cryptocurrencies that stand to outperform ETH price thanks to Ethereum’s Merge
After years of waiting, Ethereum is finally prepared to become a full-fledged proof-of-stake (PoS) blockchain. Besides Ethereum’s native token, Ether (ETH), the valuation of several other tokens has not only benefited greatly but could also keep outperforming ETH after the Merge.
Ethereum steps closer toward the Merge
The leading smart contract platform completed the last of its three public testnets, dubbed Goerli, on Aug. 11. Therefore, there should be no delays in Ethereum’s Merge, expected to go live on Sept. 19.
Ether price jumped 5% to approximately $1,950, its highest level in over two months, after the Goerli update. Meanwhile, certain crypto assets that could benefit from a successful Merge are undergoing upside moves and have even been outperforming ETH in the past month.
ETH/USD daily price chart. Source: TradingViewWill these tokens continue to outperform ETH price into September? Let’s take a closer look.
Lido DAO (LDO)
The Merge will replace Ethereum’s army of miners with validators, who will be required to front 32 ETH as an economic stake.
ASIC chair troubled by sheer amount of ‘risk-taking’ crypto investors
Australia's financial services regulator sees the rise in crypto investment during the COVID-19 pandemic as a cause for concern, especially among young and new investors.
BTC mining stocks double in a month as production ramps
While Bitcoin and Ethereum prices may have climbed lately, Bitcoin mining companies have been absolutely pumping.
Coming sooner: ETH devs move up the date for Merge
Ethereum’s transition to Proof-of-Stake is inching ever closer after developers agreed to a tentative date for the mainnet merge.
MakerDAO should 'seriously consider' depegging DAI from USD: Founder
In light of the recent Tornado Cash and frozen USDC addresses debacle, MakerDAO founder Rune Christensen is hoping to move DAI’s collateralization away from USDC.
DeFi platform Oasis to block wallet addresses deemed at-risk
Users report that their sessions were disconnected when trying to interact with Oasis with allegedly high risk wallets.