18 hours ago
Bitcoin’s price reacted in a volatile manner to the CPI announcement yesterday as it went beyond $84,000, only to drop beneath $81,000 minutes later. Now, though, the asset stands above $83,000. Many altcoins have produced even more impressive gains over the past 24 hours, while the market cap has recovered some ground to $2.8 trillion. BTC at $83K It was less than a week ago, last Friday when BTC’s price soared past $90,000 and tapped $91,000. However, it was quickly rejected there and tumbled back down to $86,000 ,where it sat for most of the weekend. The landscape worsened once again at the beginning of the current business week, with a price dump to $80,000 on Monday. After a $4,000 bounce-off, the bears took control once again and pushed BTC south to its lowest level in four months, under $77,000. The cryptocurrency finally reacted positively after this substantial crash and jumped above $80,000 on the next day. Once the US CPI data came out on Wednesday and it was better than anticipated, bitcoin soared past $84,000. However, that was short-lived, and the asset dropped by three grand almost immediately. Nevertheless, the bulls intercepted the move and drove BTC to over $83,000, where it currently sits. Its market cap is at $1.650 trillion and its dominance over the alts has risen to 59% on CG. BTCUSD. Source: TradingView PEPE on the Rise Pepe, alongside most other meme coins, was hit very hard during the market-wide crash in the past month or so. Its price tumbled by over 50% within weeks. The past 24 hours have brought some hope to investors as the asset jumped by 16%, and it now stands above $0.0000073. Other impressive gainers from the larger-cap alts include BNB, XLM, and AVAX. Avalanche’s native token has soared by double digits to trade above $19. ETH, XRP, SOL, DOGE, LINK, TRX, LTC, and SUI are also in the green but in a more modest manner. The total crypto market cap has recovered about $60 billion since yesterday’s low and is up to $2.8 trillion on CG. Cryptocurrency Market Overview. Source: QuantifyCrypto The post PEPE Explodes by 16% Daily, Bitcoin Price Calms at $83K After CPI Data (Market Watch) appeared first on CryptoPotato .
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ARK Invest Makes a Bold Move with $80 Million in Bitcoin Purchases
ARK Invest purchased 997 Bitcoins, signaling confidence in the cryptocurrency market. The company`s strategy may influence other institutional investors in the space. Continue Reading: ARK Invest Makes a Bold Move with $80 Million in Bitcoin Purchases The post ARK Invest Makes a Bold Move with $80 Million in Bitcoin Purchases appeared first on COINTURK NEWS . Crypto Potato
Cardano (ADA) Struggle Persists—Is a Rebound Still Possible?
Cardano price started a fresh decline below the $0.720 zone. ADA is correcting some losses and might face resistance near the $0.7750 level. ADA price started a recovery wave from the $0.650 zone. The price is trading below $0.720 and the 100-hourly simple moving average. There is a connecting bearish trend line forming with resistance at $0.7050 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could start another increase if it clears the $0.720 resistance zone. Cardano Price Faces Hurdles In the past few days, Cardano saw a bearish wave below the $0.7750 level, like Bitcoin and Ethereum . ADA declined below the $0.750 and $0.720 support levels. Finally, it tested the $0.650 zone. A low was formed at $0.6495 and the price recently started a recovery wave. The price climbed above the $0.6950 and $0.70 level. The price even spiked above the 50% Fib retracement level of the downward move from the $0.8170 swing high to the $0.6495 low. Cardano price is now trading below $0.720 and the 100-hourly simple moving average. There is also a connecting bearish trend line forming with resistance at $0.7050 on the hourly chart of the ADA/USD pair. On the upside, the price might face resistance near the $0.7050 zone. The first resistance is near $0.7520 or the 61.8% Fib retracement level of the downward move from the $0.8170 swing high to the $0.6495 low. The next key resistance might be $0.7750. If there is a close above the $0.7750 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.80 region. Any more gains might call for a move toward $0.850 in the near term. Another Drop in ADA? If Cardano’s price fails to climb above the $0.720 resistance level, it could start another decline. Immediate support on the downside is near the $0.6880 level. The next major support is near the $0.650 level. A downside break below the $0.650 level could open the doors for a test of $0.6350. The next major support is near the $0.620 level where the bulls might emerge. Technical Indicators Hourly MACD – The MACD for ADA/USD is losing momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level. Major Support Levels – $0.6880 and $0.6500. Major Resistance Levels – $0.7520 and $0.7750. Crypto Potato
