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A set of technical indicators see Bitcoin price ending its prevailing bearish cycle. Bitcoin (BTC) recovered above the $19,000 mark on Sep. 20, a day after falling to its lowest level in three months. Bitcoin struggles after dropping below $20K On the daily chart, the BTC price rose from $18,255 to $19,650. This 7.5% price rebound mirrored similar rebound moves witnessed in the stock market, suggesting that investors have been coming to terms with another significant rate hike by the Federal Reserve expected on Sep. 20-21. BTC/USD daily price chart versus ACWI and Nasdaq. Source: TradingView However, opinions differ on the longevity of Bitcoin's rebound. Independent market analyst Jonny Moe stressed that BTC's ongoing price action is similar to its sideways consolidation moves at the beginning of this year. In other words, Bitcoin's current price rebounds around the $20,000 mark do not make a long-term bull case. This is definitely still lurking out there $BTC pic.twitter...

The BitMEX co-founder says Bitcoin has been on a bull run since the Fed’s $25 billion dollar program aimed at stabilizing the U.S. banking system. Bitcoin (BTC) has been on a bull run for the past six months or so and the market is yet to respond — but it will in around six to 12 months, according to BitMEX co-founder and former CEO Arthur Hayes. In a Sept. 5 keynote speech at Korea Blockchain Week, Hayes argued Bitcoin’s bull run began on March 10, the day Silicon Valley Bank (SVB) was taken over by the Federal Deposit Insurance Corporation. Two days before SVB’s takeover on March 8, Silvergate Bank had gone into liquidation. Two days later on March 12, Signature Bank was forced to close by New York regulators. In response, and in a bid to stop further possible collapses, the Federal Reserve created the Bank Term Funding Program (BTFP) — offering banking loans of up to a year in return for them posting “qualifying assets” as collateral. Hayes speaking at Korea Blockchain Week in Se...

Fed chair Jerome Powell was “all bark, no bite” with his hawkish comments, which sent BTC price action below $25,000, says Material Indicators’ Keith Alan. Bitcoin (BTC) stayed below $25,000 on June 15 after a snap reaction to United States economic policy changes saw three-month lows. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Hawkish Powell “all bark, no bite” Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it consolidated after the prior day’s losses totaled over 3%. The U.S. Federal Reserve had delivered an expected pause in interest rate hikes — its first since 2021 — while keeping the mood hawkish. Fed chair Jerome Powell suggested that fresh hikes may be necessary in the future to tame inflation. “As I noted earlier, nearly all committee participants expect that it will be appropriate to raise interest rates somewhat further by the end of the year,” he said at a press conference, referencing the views of the Federal Open Market Committee...

Bitcoin fails to respond even to a market-moving fake news event about an explosion at the Pentagon. Bitcoin stayed motionless after the May 22 Wall Street open amid suggestions that United States interest rates may keep rising. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Bitcoin analyst eyes “capitulation by time” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling the range immediately below $27,000. Despite some brief volatility for stocks, Bitcoin (BTC) remained firmly trapped in a range that it first entered 10 days prior. For market commentators, the danger remained for a breakdown to result, with key trend lines such as the 200-week moving average (MA) potentially seeing a retest — or worse. “This relentless sideways chop is boring AF and presents some challenges to traders, but IMO it’s a healthy consolidation,” monitoring resource Material Indicators summarized. “The longer this continues, the stronger this zone gets as a present and ...

Bitcoin bulls and bears battle for control of a key area on the BTC chart, with network fundamentals due new all-time highs. Bitcoin (BTC) is fighting for the bull trend as the new week begins as the market acts within a crucial zone. After closing the weekly candle at just below $27,000, BTC/USD is attempting to cement support as a stubborn trading zone holds. The stakes are already high — last week saw a flash dip below $26,000 and two-month lows for Bitcoin, making traders fearful of a larger bearish breakdown to come. While this has not materialized, nerves remain on both shorter and longer timeframes. Where is price action likely headed next? A relatively cool week of macro triggers means less chance of volatility from external sources. Add to that the upcoming difficulty adjustment taking it to yet another all-time high, and the case could well be made for upside continuation. Cointelegraph takes a look at some of the major BTC price factors affecting the week ahead. Bitcoin pri...

BTC’s correction to $22,750 followed negative remarks from financial regulators, but key Bitcoin price metrics show bulls remain optimistic. Bitcoin (BTC) price broke above $25,000 on Feb. 21, accruing a 53% year-to-date gain at the time, it made sense to expect the rally to continue after U.S. retail sales data from the previous week vastly surpassed the market consensus. This fuelled investors' hope for a soft landing and the possible aversion of a recession in the U.S. economy.  The apex of the U.S. Federal Reserve’s strategy success would be increasing interest rates and scaling back its $9 trillion balance sheet reduction without significatively damaging the economy. If that miracle happens, the outcome would benefit risk assets, including stocks, commodities and Bitcoin. Unfortunately, the cryptocurrency markets took a hit after the $25,200 level was rejected and Bitcoin price plunged 10% between Feb. 21 and Feb. 24. Regulatory pressure, mainly from the U.S., partially expla...