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Prominent Bitcoiners and contemporary adopters highlight the need to focus on the fundamental value proposition of Bitcoin to continue its push to mainstream acceptance. “We’re contorting ourselves to pass through the keyhole of tyranny.” Edward Snowden’s words ring out in the packed Genesis Stage hall at Bitcoin Amsterdam, stressing the preeminent cryptocurrency’s ever-increasing importance in a world beset by creeping government surveillance, devaluing fiat currencies and restrictive policies. The renowned whistleblower’s address summed up a recurring theme during the conference hosted in Amsterdam, driving home the role of decentralized protocols like Bitcoin and Nostr in handing individuals some semblance of control over their wealth and privacy. Cointelegraph spoke to prominent Bitcoin developers, investors, builders and supporters attending the two day conference at the picturesque Westerpark. In the midst of the ongoing cryptocurrency bear market that has tested the wider indus...

Bitcoin is holding above $26,500 and the price stability could lead traders to take a second look at SOL, LDO, ICP and VET. The S&P 500 Index nudged higher by 0.45% to record its second positive week. While the United States equities markets were a slow mover, gold witnessed a massive run-up of more than 5% this week. Its rally of 3.11% on Oct. 13 was its best one-day performance since Dec. 1 of last year. However, the Bitcoin (BTC) bulls did not have any such luck as Bitcoin is on track to end the week down more than 3%. Bitcoin’s weakness and the regulatory overhang have kept crypto investors away from altcoins. That has kept Bitcoin’s market dominance hovering near the 50% mark for the past few days. Crypto market data daily view. Source: Coin360 Market observers are likely to keep their focus on Bitcoin for the next few days. The longer the bulls sustain the price above $25,000, the greater the possibility that the next move is likely to be higher. A bullish move in Bitcoin ...

Bitcoin ETF and halving buzz have boosted BTC's demand compared to Ethereum in recent weeks. The price of Ethereum's native token, Ether (ETH), is trading around a 15-month low versus Bitcoin (BTC), and the lowest since Ethereum switched to proof-of-stake (PoS). Will it continue to weaken for the remainder of 2023? Let's take a closer look at the charts.  Ethereum price breaks below critical support vs. Bitcoin The ETH/BTC pair dropped to as low as 0.056 BTC earlier this week. In doing so, the pair broke below its 200-week exponential moving average (200-week EMA; the blue wave) near 0.058 BTC, raising downside risks further into 2023. The 200-week EMA has historically served as a reliable support level for ETH/BTC bulls. For instance, the pair rebounded 75% three months after testing the wave support in July 2022. Conversely, it dropped over 25% after losing the same support in October 2020. ETH/BTC weekly price chart. Source: TradingView ETH/BTC stares at similar sell...

BTC price downside follows renewed inflation fears amid a prediction that Bitcoin might only reverse upward in December. Bitcoin (BTC) hit new October lows after the Oct. 11 Wall Street open as one analyst hailed the “final stage” of the cryptocurrency bear market. BTC/USD 12-hour chart. Source: TradingView Bitcoin traders stress importance of $26,800 Data from Cointelegraph Markets Pro and TradingView showed further BTC price weakness emerging, costing bulls $27,000 support. At the time of writing, the largest cryptocurrency was headed toward $26,600 as downside gained momentum. The move followed United States inflation data in the form of the Producer Price Index (PPI), the September print for which came in above expectations — 2.2% versus 1.6% year-on-year (YoY). This added to concerns about lingering U.S. inflation pressures, with dollar strength up and risk assets down. Producer Price Index (PPI) chart. Source: U.S. Bureau of Labor Statistics “PPI coming in hotter than expecte...

BTC price erases all its month-to-date gains with Bitcoin traders predicting that $27,000 will not stay around long. Bitcoin (BTC) broke lower on Oct. 11 as $27,000 saw its first real test since the start of the month. BTC/USD 1-hour chart. Source: TradingView BTC price battles for support after daily "death cross" Data from Cointelegraph Markets Pro and TradingView tracked increasing overnight BTC price weakness, including a trip to $26,978 on Bitstamp. Bitcoin thus came full circle for October, erasing all of the gains seen after the September monthly close. Analyzing intraday performance, popular trader Skew noted the interplay between two moving averages (MAs), along with a so-called “ death cross .” In March, he noted the 100-day MA cross ed above the 200-day counterpart — a “golden cross ” event that traditionally marks upside to come. “Here we technically just had the death cross, so if we head lower kinda leaning towards a squeeze eventually to test 200D MA again b...

Bitcoin prepares for a testing macro week as geopolitical uncertainty injects volatility into gold, oil and the U.S. dollar — BTC price action has yet to react. Bitcoin (BTC) starts the second week of October still up 4% month-to-date as geopolitical instability provides a snap market focus. BTC price action continues to hold steady at $28,000 — what will happen next as markets react to the war in Israel? In what could end up a volatile period for risk assets, Bitcoin has so far yet to offer a significant reaction, spending the weekend in a tight corridor. That could soon change, however, as the Wall Street open comes amid a hike in both oil and gold, along with U.S. dollar strength. Macroeconomic triggers are also far from lacking, with the coming days due to see the September print of the U.S. Consumer Price Index (CPI). In the wake of surprise employment data last week, the readout holds additional importance for the Federal Reserve. Beneath the hood, meanwhile, on-chain metrics a...

BTC price support gives in to sellers at six-week highs, but Bitcoin remains in its classic trading range. Bitcoin (BTC) traded moderately higher on Oct. 3 after giving back $1,300 of gains into the daily close. BTC/USD 1-hour chart. Source: TradingView Bitcoin bulls slip at $28,600 Data from Cointelegraph Markets Pro and TradingView showed BTC price action focusing on $27,500. The pair unwound overnight, descending from six-week highs near $28,600 to bounce at $27,335 before stabilizing. Despite the risk of the October opening move becoming a form of “fakeout,” market participants kept their cool. “Yesterday's breakout did not instantly send us to $30k. I consider this a good thing, because those vertical moves often retrace,” popular trader Jelle wrote in part of an X reaction. BTC/USD annotated chart. Source: Jelle/X Daan Crypto Trades likewise argued that a “slow grind back up to the highs” would be the best scenario for Bitcoin bulls. “Need longs to chill out and spot bid t...

Bitcoin miners may see “severe” economic consequences from BTC price action staying below $30,000 after the 2024 halving, Glassnode warns. Bitcoin (BTC) Ordinals are boosting miner profits, but “income stress” is looming, new research warns. In the latest edition of its weekly newsletter, “The Week On-Chain,” analytics firm Glassnode predicted fresh problems for miners after Bitcoin’s next block subsidy halving . Bitcoin halving impact on miners could be “severe” Bitcoin miner competition is exploding, with hash rate — the estimated combined processing power deployed to the blockchain — at record highs. For Glassnode, this indicates unprecedented conditions for miners trying to eke out a living at current BTC price levels. Ordinal inscriptions are helping, with these acting as “packing-filler” which turns empty blockspace into a source of revenue for miners. “Naturally, as blockspace demand increases, miner revenues will be positively affected,” it wrote. Bitcoin Mean Hash Rate (7-day...

As the SEC delays the decision on Bitcoin ETFs, the BTC price takes a hit. However, automated trading tools can provide new trading opportunities in these uncertain times. The SEC’s hesitation to approve the first Bitcoin ETF is putting pressure on the Bitcoin price, which is painful for crypto holders. Thanks to TradeSanta’s automated trading tools connected to spot and futures trading platforms, traders can reduce risks and take advantage of downturns. Bitcoin had some attempts earlier this year to consolidate above the $30,000 mark, but it failed to do so. By the end of the year, the cryptocurrency may continue to trade below this psychological level, and one of the reasons behind the constant bearish pressure is the Securities and Exchange Commission’s (SEC) prolonged hesitation to approve a spot Bitcoin exchange-traded fund (ETF). The SEC has postponed its decision on Bitcoin (BTC) ETFs, impacting numerous applicants, including BlackRock, a key player that encouraged other instit...

Inactive Bitcoin addresses have hit all-time highs across one-, three- and five-year time domains while BTC outflows from exchanges continue. On-chain data suggests that Bitcoin (BTC) holders are accumulating BTC with exchange holdings down to yearly lows and the percentage of in active BTC supply at all time highs . According to Glassnode’s Bitcoin supply last active chart, in active BTC that has not moved from an address for more than 1, 3 and 5 year time frames has been at all time highs since July 2023. These metrics are mirrored by Bitcoin analytics from Coinmarketcap that tracks wallet addresses by the amount of time they’ve been holding BTC. An estimated 69%, or 36.8 million addresses have been holding BTC for more than a year. Source: Coinmarketcap Bitcoin analytics. CryptoQuant charts also reflect Bitcoin outflows from exchanges that have steadily declined from July 2021, with just over 2 million BTC tipped to remain on exchanges. Source: CryptoQuant. Coinglass’s Bitco...

Source: Adobe/fesenko   Another survey shows a seemingly dominant sentiment that bitcoin (BTC) still has more room to fall and test new lows in the near term before skyrocketing again. In either case, the latest prediction marks the third time this year that a panel of analysts gathered by the comparison website  Finder.com has had to adjust its predictions down. Judging from an average of the responses, bitcoin could fall to USD 13,676 this year, before it ends the year higher at close to USD 25,500 – almost 30% higher than the coin’s current price at the time of writing (08:30 UTC) of USD 19,770. Finder.com’s panel was made up of various crypto industry players, including analysts, founders, CEOs, and academics. “It's reasonable to expect to see more big projects fail in the next couple of months. Retail sentiment is at historic lows due to global economic uncertainty and inflation. Highly leveraged miners, who just had to digest...

BTC currently makes up 41% of the total crypto market cap — its smallest market share since January. Bitcoin (BTC) is facing fresh competition from altcoins this month as data shows that — technically — it is already "alt season." Figures from CoinMarketCap and TradingView show that BTC currently makes up around 41% of the overall crypto market capitalization — its lowest since the start of 2022. Bitcoin sheds market cap prowess After suffering at the hands of the Terra LUNA collapse, altcoin markets have rallied considerably in recent months.  Alongside Bitcoin's return from 18-month lows of $17,600 in June, altcoins have enjoyed their own renaissance, one which is now giving Bitcoin bulls a run for their money.  According to CoinMarketCap, Bitcoin's market cap share is now at its lowest since mid-January, with largest altcoin Ether (ETH) in particular stealing the limelight in recent weeks. From lows of 14.3% on June 19, Ethereum's market cap dominance now stan...

The buyer congestion at $25,500 allowed for stability this week, and investors slowly gained confidence in the possibility of a breakout to $30,000. advertisement Declines in the price of Bitcoin needed not to stretch below $25,000, a move likely to validate a double top pattern followed by another sweep through liquidity below $20,000 and more precisely test a much lower BTC support area around $15,500. Why Is BTC Price Vulnerable To Overhead Pressure The Moving Average Convergence Divergence (MACD) has sustained a relatively bullish outlook since the weekend, calling on buyers to consider buying the dip. However, unfavorable regulatory news in the US coupled with uncertain economic factors hinged on high inflation levels continues to dampen the market. From the time Blackrock filed with the Securities and Exchange Commission (SEC) in June intending to offer a spot BTC ETF product, investors believed in the likelihood of approval. Recommended Art...