Bitcoin prices have temporarily halted, finding support at the $30,000 level.
Bitcoin prices have temporarily halted, finding support at the $30,000 level.
Cryptocurrency prices experienced a significant surge following the filing of BlackRock's application for a bitcoin ETF. Out of the 149 assets listed in the CoinDesk Market Indices (CMI), an impressive 144 witnessed an upward trajectory throughout the week.
The trend indicators from CoinCryptoUs Indices are indicating a downward movement for both bitcoin and ether.
Lesser-known altcoins experienced a robust week while bitcoin and ether grappled with macroeconomic challenges.
Bitcoin remains stagnant, inching closer to marking its first month of decline in 2023. Meanwhile, Ether experiences a slight increase but appears poised to end May in the red as well.
While longer-term investors continue to hold their positions with resilience, the reduction of holdings by Bitcoin super whales demands attention.
Bitcoin and Ether experienced a surge in value following mildly favorable inflation data, but then declined in response to rumors of a U.S. government sell-off of BTC. However, the cryptocurrencies rebounded as investors disregarded the market upheaval.
After a slightly higher than expected jobless claims report, the top two cryptocurrencies by market capitalization remained relatively stable, indicating a minor cooling in the job market.
The top two cryptocurrencies in terms of market capitalization responded positively to a decrease in job vacancies.
Bitcoin's past performance indicates that a slight uptick in price often follows a period of decreasing momentum.