Bitcoin Price Financial News

Bitcoin (BTC) price action may lack momentum this month, but one popular analyst is still eyeing new all-time highs.

The monthly trading volume of nonfungible tokens (NFTs) and memecoins on Bitcoin in May surpassed Solana’s volume, according to data from CryptoSlam. 

A restructuring plan for bankrupt Bitcoin (BTC) miner Core Scientific could be finalized by September and it expects to exit proceedings with an additional $46 million due to recent favorable market conditions.

Bitcoin has been moving less in tandem with tech stocks as sentiment around equities and cryptocurrencies diverges. The world’s largest cryptocurrency has been stuck below the $27,000 level this week, while the tech-heavy Nasdaq 100 has climbed 3.5%. The 40-day correlation coefficient for Bitcoin and the tech gauge slid to 0.19 on Friday, the lowest since April 25. A reading of 1 implies assets are moving in lockstep and minus 1 signifies the opposite. Before April, the lowest reading was in November 2021. Bitcoin and equities — particularly growth stocks — had been tied at the hip for a while as investor appetite for both boomed in an era of low interest rates. That has since changed since the start of the year, as uncertainty around the Federal Reserve’s path of rate hikes and the bank collapses in March prompted investors in each market to react differently.

Inexperienced traders usually chase prices higher during the end of the bull phase as they fear missing out on the rally. However, institutional investors tend to wait for the froth to settle before entering. Bitcoin’s (BTC) bear market in 2022 ended the hype that was seen in 2021.

Bitcoin (BTC) is poised to claim the cryptocurrency throne by the end of 2023, as its superiority “is going to be clear” in every aspect, according to Fedi’s CEO.

Bitcoin (BTC) remained stuck inside a narrow range into May 20 as cryptocurrency markets shook off United States macro triggers.

cryptocurrency markets were trading in the red on Friday. Bitcoin (BTC) fell 1.13% to $26,908, whereas Ethereum (ETH) was above the $1,800 level. BTC volume stood at approximately $14.9 billion, falling 0.58% in the last 24 hours. «Bitcoin experienced a reversal, dropping to the US$26,700 level after reaching US$27,400 the previous day. The decline can be attributed to investor concerns surrounding ongoing debt ceiling talks in Washington, D.C., and regulatory developments,» Edul Patel, Co-founder and CEO at Mudrex said. Other top crypto tokens were also trading lower. Solana and Cardano declined nearly 2%. Ethereum, BNB, Polkadot and Litecoin were also trading lower. The total volume in DeFi is currently 2.02 billion, 6.40% of the total crypto market 24-hour volume. The volume of all stablecoins is now $29.18 billion, which is 92.43% of the total crypto market 24-hour volume.

cryptocurrency market was majorly trading higher on Thursday amid improved sentiment on progress in debt ceiling negotiations in the United States. Bitcoin (BTC) rose 0.90% to $27,230, whereas Ethereum (ETH) was just above the $1,800 level. BTC volume in the last 24 hours stood at approximately $15.1 billion, rising 23.23% in the last 24 hours. «Bitcoin (BTC) got a healthy bounce overnight as prospects of a successful US debt ceiling raise positively influenced financial markets. It continues to trade just above the $27,000 level and will likely have a renewed attempt at $30,000 in coming weeks,» Vikram Subburaj, CEO of Giottus Crypto Platform, said. Other top crypto tokens were also trading higher on Thursday. Polygon surged nearly 3%. Cardano, Dogecoin, Polkadot and Litecoin were also trading with gains.

Bitcoin (BTC) nudged $27,000 after the May 19 Wall Street open as the Chair of the United States Federal Reserve delivered comments on policy.

Bitcoin (BTC) stares at potential losses heading into the third-quarter of 2023 after U.S. lawmakers will likely reach an agreement on raising the debt ceiling.

Bitcoin (BTC) traded back below $27,000 on May 19 as analysis flagged large-volume trades pressuring price.

cryptocurrency markets were trading mixed on Wednesday on weak global cues amid debt ceiling negotiations in the US. XRP, Dogecoin, and Litecoin were trading with gains, while Bitcoin, Ethereum, and BNB were trading with cuts. Bitcoin (BTC) fell 1.39% to $26,851, whereas Ethereum (ETH) was just above the $1,800 level. BTC volume in the last 24 hours stood at approximately $12.14 billion, falling 2.93% in the last 24 hours. «Bitcoin traded flat in the past 24 hours as investors might be closely monitoring the attention on the debt ceiling negotiations in Washington. BTC has been seen changing hands between US$26,800 and US$27,400 levels,» Edul Patel, Co-founder and CEO at Mudrex, said. The total volume in DeFi is currently 2.11 billion, 7.45% of the total crypto market 24-hour volume. The volume of all stablecoins stood at $25.79 billion, which is 91.17% of the total crypto market 24-hour volume.

Bitcoin (BTC) has been trying to break above the $27,500 resistance for the past week, but to no avail. One of the reasons limiting Bitcoin’s upside is the risk of an eventual U.S. default as the government struggles to get the debt limit increase approved in Congress. 

Bitcoin (BTC) has crossed a significant threshold this month — and while it does not involve price, it does involve “millions.”

Bitcoin (BTC) held a snap rebound on May 18 as analysts hoped that further upside would come next.

cryptocurrency markets were majorly trading in the red on Tuesday. Bitcoin (BTC) fell 1.22% to $27,043, whereas Ethereum (ETH) was just above the $1,800 level. BTC volume stood at approximately $13.2 billion, rising 9.41% in the last 24 hours. «After a day of upward trend, crypto markets have been under minor selling pressure in the last 24 hours. Bullish sentiments seem to be gradually restoring as the crypto fear and greed index stands at 54, up 4 points from yesterday. The crypto-cautious investors, however, continue to observe from the sidelines,» Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, said. Other top crypto tokens were also trading lower. Solana and Polkadot declined by over 2%. BNB, Polygon, and Dogecoin were also trading with cuts.

cryptocurrency markets were trading higher on Monday amid encouraging macro factors and under-control inflation. Bitcoin (BTC) rose 1.82% to $27,335, whereas Ethereum (ETH) was above the $1,800 level. BTC volume stood at approximately $11.9 billion, rising 25.5% in the last 24 hours. «Bitcoin recovered a bit, gaining over 1% in the past 24 hours after experiencing a downward trend the last week due to industry-focused and macroeconomic uncertainties. BTC’s immediate resistance is at US$27,400 and then US$27,800 which might start a decent increase. Whereas the support lies at US$27,000,» Edul Patel, Co-founder and CEO at Mudrex, said. Other top crypto tokens were also trading higher on Monday. Litecoin Surged by over 7%. BNB, Polygon, Dogecoin and Solana were also trading with gains.

Bitcoin (BTC) price lost steam after a failed rupture of the $27,500 resistance on May 15, putting bears in a better position for the May 19 expiry. The regulatory newsflow likely played a key role in trimming investors’ risk appetite as governments seek more control over the sector.

Bitcoin (BTC) is entering a new “speculation cycle” typical of a bull run, new analysis says.

Bitcoin (BTC) looked poised to give up $27,000 as support on May 17 with traders lying in wait for new lows.