Tag: dow jones

An overnight attempt to crash Bitcoin alongside the US stock market met with extreme resistance as the cryptocurrency bounced back handsomely. The BTC/USD exchange rate lost $465, or 3.51 percent, after the New York opening bell Monday. The pair fell to as low as $12,785, only to find a considerably...

Bitcoin (BTC) is at risk of extending its ongoing downside correction as it breaks below a so-called "legacy trendline." As spotted by an independent, pseudonymous chart analyst, the said trendline was acting as a support to Bitcoin since March 2020. On September 30, the BTC/USD exchange rate fell below the price floor and flipped the Ascending Trendline into resistance. The pair lately tested...

Bitcoin faces the prospects of undergoing broader downside corrections as hedge funds rush to short stocks that surged impressively during the coronavirus pandemic. According to the Financial Times, some fund managers have increased their bets against the shares linked to technology, home gym equipment, grocery...

There was no major stimulus announcement, but Bitcoin was still able to hit a five-week high on the first day of the week. The benchmark cryptocurrency established an intraday high of $11,736 before profit-taking sentiment pushed its exchange rate lower. Its price landed around a concrete support...

Bitcoin did its own thing during the late Monday trading session. The benchmark cryptocurrency plunged suddenly towards $10,600 after maintaining intraday gains above the $10,800-support all day. The sell-off appeared despite a healthier macroeconomic outlook led by signs of progress...

Any attempts from Bitcoin to secure higher price levels may fall short as long as its correlation with the US stocks sustains. So predicts Ronnie Moas, a stock market analyst heading Florida-based research firm Standpoint Research. He said in an early Thursday tweet that Bitcoin might fall by another $400 (or more) in the coming sessions. The expected downside move should come if...

Bitcoin faces the prospects of breaking below $10,000 after failing to extend a rally that pushed its price up by 70 percent earlier this year....

Bitcoin is trading almost 17 percent below its year-to-date high near $12,500. And, according to analysts at TradingShot, the downside bias is about to turn a lot worse. The independent market analysis portal spotted the benchmark cryptocurrency testing the support of a...