Bitcoin Price Financial News

Bitcoin (BTC) surfed $27,000 on May 16 as traders stayed buoyant about upside continuation.

Bitcoin (BTC) saw five-day highs on May 15 as a rebound continued after the Wall Street open.

Bitcoin’s price declined for eight consecutive days through May 13, totaling a 9.4% correction. The last time such a losing streak happened was on June 14, 2022, after the Celsius lending platform halted withdrawals and FUD — fear, uncertainty and doubt — emerged from United States software firm MicroStrategy’s loan being liquidated at $21,000.

The Bitcoin (BTC) network has faced a litmus test in recent weeks due to the increased demands of Ordinals and BRC-20 tokens being inscribed onto the preeminent blockchain. 

Bitcoin (BTC) is fighting for the bull trend as the new week begins as the market acts within a crucial zone.

cryptocurrency markets were trading in the red on Friday. Bitcoin (BTC) declined 5% to $26,163, whereas Ethereum (ETH) was below the $1,750 level. BTC volume in the last 24 hours stood at approximately $18.2 billion, falling 12.6% in the last 24 hours. «BTC came under selling pressure, falling by over 7% last week, and is now trading lower than the psychologically important $27k level. Multiple factors are being speculated as the reasons behind the fall in prices, including increasing network congestion, rising transaction fees, and even an incorrectly tagged US Government wallet dumping a large position in a huge sell order on Wednesday,» Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, said. Other top crypto tokens were also trading lower on Friday. Polygon declined by over 4%. BNB, Litecoin, Dogecoin and Solana were also trading with cuts.

Crypto Twitter was briefly set ablaze on May 14 with a suggestion that the world’s first real-world purchase made by Bitcoin may have been for a JPEG, not pizza. 

The number of Bitcoin (BTC) wallet addresses holding one whole BTC or more has surpassed the one million mark. 

Bitcoin (BTC) sought to recover $27,000 into the May 14 weekly close as volatility picked up out of hours.

The S&P 500 Index (SPX) closed the week with a nominal loss of 0.29% but Bitcoin (BTC) is on target to finish the week with a deeper cut of more than 5%. The weakness in Bitcoin pulled several altcoins lower, indicating weakening sentiment.

Bitcoin (BTC) has rallied nearly 60% to around $27,000 in 2023 amid anticipations that the Federal Reserve would pause its quantitative tightening amid the U.S. banking crisis. Still, BTC price has failed to move beyond $30,000 decisively.

Bitcoin (BTC) sought to pass $27,000 on May 13 after a “scam wick” produced new two-month lows.

cryptocurrency markets were trading mixed on Thursday after the consumer price inflation in April rose at a slower-than-expected pace. Cardano, Solana, and Polkadot were trading with gains, while Bitcoin, Ethereum, and Polygon were trading with cuts. Bitcoin (BTC) declined 0.37% to $27,537, whereas Ethereum (ETH) was below the $1,850 level. Meanwhile, BTC volume stood at approximately $20.82 billion, rising 53.29% in the last 24 hours. «The crypto market remained almost flat as encouraging CPI data showed that inflation is cooling down and we can expect relaxation of monetary policies in the future,» Shivam Thakral, CEO of BuyUcoin, said. “Historically, BTC volatility increases around the inflation data release and we can see some fluctuations later today or during the week,” Thakral added.

Bitcoin’s price (BTC) broke below its 55-day support at $27,000 on May 12. In result, the two-day, 7% correction to $26,155 caused $100 million worth of long BTC futures contracts to be liquidated.

Bitcoin (BTC) is entering prime “buy the dip” territory as the clock ticks down to the 2024 block subsidy halving.

Bitcoin (BTC) neared two-month lows on May 12 amid fears that a “head and shoulders” pattern would put bears ahead.

Bitcoin (BTC) headed toward $27,000 after the May 11 Wall Street open as bulls failed to show strength.

The $900 million Bitcoin (BTC) weekly options expiry on May 12 might play a decisive role in determining whether the price will succumb below $27,000.

Bitcoin (BTC) struggled to recover from fresh losses on May 11 as a false alarm over United States government sales spooked markets.

cryptocurrency markets were trading in the red on Tuesday ahead of US inflation data. Bitcoin (BTC) declined 2.14% to $27,580 and Ethereum (ETH) was below the $1,850 level. BTC volume stood at approximately $17.73 billion, rising 32.6% in the last 24 hours. «Bitcoin (BTC) has dropped 7% since Saturday as reports of network congestion and pausing of BTC withdrawals subsequently by Binance has led to market speculation. However, price action continues to demonstrate strong consolidation as we anticipate a rebound later this week. US CPI inflation data will be key to holding this market structure,» Vikram Subburaj, CEO of Giottus Crypto Platform, said. Other top crypto tokens were also trading lower. Polygon declined by over 4%. Litecoin, Dogecoin and XRP were also trading with cuts. The global cryptocurrency market cap was trading lower around $1.14 trillion, falling 1.73% in the last 24 hours.

cryptocurrency markets were trading mixed on Wednesday ahead of the US CPI data later in the day. Bitcoin (BTC) rose 0.45% to $27,622, whereas Ethereum (ETH) was just below the $1,850 level. Meanwhile, BTC volume in the last 24 hours stood at approximately $13.72 billion, falling 22.75% in the last 24 hours. «Bitcoin traded sideways in the past 24 hours. BTC's price started to recover as the blockchain congestion eases. On the other hand, investors are awaiting the CPI inflation, which is set to be released today,» Edul Patel, CEO and Co-Founder of Mudrex, said. BTC is currently trading at the $27,600 level and facing resistance near the US$28,000 zone, Edul said.