Market Wrap: Bitcoin Expected to Pause Before Next Rally
Analysts expect bitcoin to pause at around $40K before its next leg up.
THE Updated Crypto News
Analysts expect bitcoin to pause at around $40K before its next leg up.
Technical data suggests lower support around $34,000 could stabilize the current pullback.
Bitcoin sellers are expected to cover positions, which could lead to higher prices next week.
Bitcoin and other cryptos rallied as Musk boosted bullish sentiment during The B Word conference.
Bitcoin broke below $30K. Some analysts see value opportunities while others expect further downside.
Also, Circle might be an attractive "starter stock for the cautious" when it goes public, according to one analyst.
Federal Reserve Chairman Jerome Powell testified before the U.S. Senate, about inflation and the possible rollout of a digital dollar.
Buyers are snapping at bitcoin whenever it dips to $30,000, but the cryptocurrency’s price response to faster inflation readings is…
Intraday volume for the world's oldest cryptocurrency remains considerably lower than weeks past, having tapered since June 29.
Analysts described the muted activity in spot, derivative and on-chain metrics as "calm before the storm."