Bitcoin (BTC) prepared for a rare bear feature to return on May 8 after an overnight sell-off took the market ever closer to January lows. BTC circles $34,400 lows Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to $34,200 on Bitstamp, recovering to trade around $500 higher at the time of writing. The pair had seen brief support around the $36,000 mark, but this gave way as thin weekend liquidity added to the volatility. Bitcoin liquidations themselves were limited, however, as market sentiment had long expected a deeper pullback after a tumultuous week on stock markets. Data from …

Bitcoin (BTC) found a new home at $36,000 into May 7 as volatility finally cooled into the weekend. Terra down at least $250 million in crunch Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling the $36,000 mark overnight after losing 12% in just 72 hours. Still near its lowest levels since late February, the pair had nonetheless avoided a rematch of 2022 lows at the time of writing despite low-volume weekend market conditions. In his latest Twitter update on May 6, popular trader Anbessa highlighted the planned support level to buy Bitcoin in what he described as a …

Luna Foundation Guard (LFG), a Singapore-based nonprofit tied to the Terra Luna ecosystem, has raised another $1.5 billion to further expand its already hefty Bitcoin (BTC) reserves. The raise allowed LFG to acquire 37,863 BTC via over-the-counter swaps with broker Genesis Trading and an additional purchase from Three Arrows Capital, a leading crypto venture capital firm. The specific breakdown of the deal included a $1 billion over-the-counter swap with Genesis for $1 billion in UST and a $500 million BTC purchase from Three Arrows Capital, the company disclosed Thursday. LFG now holds roughly $3.5 billion worth of BTC, which puts …

Terra (LUNA) price lost 31% over the past four weeks, erasing all of the gains accrued year-to-date. Even though the token continues to outperform the broader cryptocurrency market by 20%, Terra is struggling to hold above the $85 support. Previously, a few bullish catalysts were Terra’s USD (UST) stablecoin flipping Binance USD (BUSD) to become the third-largest stablecoin on April 18, as well as the April 26 announcement that Fireblocks, a digital asset custody platform, had seen institutional clients invest over $250 million into the Terra DeFi ecosystem. This positive newsflow was not enough to instill confidence in Terra investors, …

Investors across the world are waiting for the outcome of the Federal Open Market Committee meeting on May 4. Although markets expect a 50 basis point rate hike and an announcement by the Fed to start shrinking its balance sheet from June, it is difficult to predict how the markets will react to this trigger. Billionaire investor Paul Tudor Jones, in an interview with CNBC, said that the United States was entering “uncharted territory” as rates were being raised when the Financial Conditions Index was tightening. Tudor Jones warned investors that it was “going to be a very, very negative …

The U.S. equity markets opened on a tentative note on May 2 but a minor positive is that the crypto markets led by Bitcoin (BTC) are holding above their immediate support levels. The price action over the next few days will be dictated by the outcome of the Federal Open Markets Committee (FOMC) on May 4. If the Fed springs a negative surprise, the markets could react with a knee-jerk reaction to the downside. On the other hand, if the policy meets market expectations, the equity and crypto markets could attempt a recovery. If history were to repeat itself, Bitcoin …

Ethereum's native token Ether (ETH) faces the possibility of a 35% price correction in Q2 as it comes closer to breaking below its "ascending triangle" pattern. ETH price breakdown ahead? Ether's price swung between profits and losses on May 2 while trading around $2,825, showing indecisiveness among traders about their next bias. Interestingly, the Ethereum token wobbled in the proximity of a rising trendline that constitutes an ascending triangle pattern in conjunction with a horizontal line resistance. To recap, ascending triangles are typically continuation patterns. That being said, Ether's price was trending lower before forming its ascending triangle, raising its …

The month of April has been a forgettable one for equities and cryptocurrency investors. Bitcoin (BTC) plummeted 17% in April to record its worst-ever April performance. Similarly, the Nasdaq Composite plunged 13.3% in April, its worst monthly performance since October 2008. However, a major positive for crypto investors is that Bitcoin is still above its year-to-date low, near $33,000. In comparison, the Nasdaq 100 has hit a new low for 2022, while the S&P 500 is just a whisker away from making a new year-to-date low. This suggests that Bitcoin has managed to avoid a major sell-off, indicating demand at …

The week was filled with several new project developments and key updates from leading decentralized applications (DApps) and decentralized finance (DeFi) protocols. Fireblocks has expanded its institutional access to Terra’s DeFi ecosystem and Solana partnered with the Notifi network to improve the abysmal participation rates in governance votes. We will also look into the Cointelegraph research into the Terra ecosystem’s future and see if it can sustain the current growth. Samson Mow, the former executive at Blockstream, questions the decentralized aspect of the DeFi ecosystem. Top DeFi tokens saw another week of bearish price action despite several new developments and …

The U.S. dollar index (DXY) turned down from its 20-year high on April 29 but that has not changed the bearish price action seen in Bitcoin (BTC) and the U.S. equity markets. Equities remain under pressure and this week, Amazon stock saw its biggest intraday drop since 2014 after uncertainty over the U.S. Federal Reserve’s tightening measures placed investor sentiment back into choppy waters. If Bitcoin extends its correction, on-chain analysis platform Whalemap believes that the $25,000 to $27,000 zone may be the best place “to go all-in” on Bitcoin. Long-term investors do not appear to be panicking over the …

If you’re looking at the price of Bitcoin (BTC), it’s hard to be bullish these days. The flagship cryptocurrency has once again broken below $40,000, with analysts foretelling of a much bigger decline in the weeks ahead. Unfortunately, many new investors forget to treat crypto as an exponential asset class and, therefore, let short-term price fluctuations weaken their conviction. Do you want to know who’s conviction in digital assets hasn’t waivered amid the latest downtrend? Venture capitalists (VCs), i.e., investors whose sole purpose is to uncover the most promising startups they think are poised for greatness. This week’s Crypto Biz …

The U.S. dollar index (DXY) has risen above the highs created in March 2020 and may next challenge the multi-year highs set in January 2017. Bitcoin’s (BTC) price action is generally inversely connected to DXY. Therefore, unless the dollar reverses its sharp uptrend, a strong recovery in Bitcoin may be difficult. Although Bitcoin has not confirmed a bottom, institutional investors seem to have started their purchases at lower levels. Canada’s Purpose Bitcoin exchange-traded fund added 1,132 BTC to its holdings, according to data analytics platform Coinglass. Behavior analytics resource Santiment also suggested that the crowd’s interest in buying the dip …