On Wednesday, we recapped how Tesla’s bitcoin acceptance and Coinbase’s direct listing helped send bitcoin’s price to a new all-time high near $65,000, which turned out, in hindsight, to be the market peak. Today, we’ll show how some traders and investors began to cash out in April and May as concerns mounted over U.S. capital gains taxes, bitcoin’s environmental footprint and … [Read more...] about Bitcoin’s Price Remains Boxed In Below $51K Over Holiday Weekend
51K
Bitcoin targets $51K ‘final resistance’ as ETH nears $4K for the first time since May
Bitcoin (BTC) passed $50,500 later on Friday as a return to the $50,000 mark put bulls firmly back on the scene.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin lines up a $51,000 offensiveData from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining ground after dipping to $48,300 lows overnight.An important retest, Bitcoin price action then … [Read more...] about Bitcoin targets $51K ‘final resistance’ as ETH nears $4K for the first time since May
$51K Bitcoin price not a problem as ‘structurally, nothing has changed’
On March 25, concerns surrounding the record-breaking $6.1 billion (BTC) options expiry this Friday sparked an overnight sell-off that dropped Bitcoin price to $50,400.The downturn was not a surprise for many traders and some called for a possible test of the $47,000 support level. Despite Bitcoin's loss of bullish momentum, several derivatives indicators, including a bullish … [Read more...] about $51K Bitcoin price not a problem as ‘structurally, nothing has changed’
Bitcoin price hits $51K as U.S. Senate passes $1.9 trillion stimulus
The price of Bitcoin (BTC) reached over $51,000 on March 7 after the U.S. Senate passed the anticipated $1.9 trillion stimulus bill, which is roughly two times larger than the market capitalization of BTC.United States' President Joe Biden said that the Senate's approval shows major progress in delivering a "desperately needed" stimulus bill to Americans. He said:“Today I can … [Read more...] about Bitcoin price hits $51K as U.S. Senate passes $1.9 trillion stimulus
Bitcoin hits $51K as short-term bull case strengthens amid weakening dollar
The U.S. dollar index (DXY) is showing signs of a short-term top as the price of Bitcoin (BTC) demonstrates signals of a short-term rally.There is a narrative that the price of Bitcoin often coincides with a drop in the value of the dollar.Since stores of value, like gold and Bitcoin are priced against the dollar, theoretically, a downtrend in the DXY would likely have a … [Read more...] about Bitcoin hits $51K as short-term bull case strengthens amid weakening dollar