BTC

2022 - 5 - 12

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Image courtesy of "Coindesk"

Tether Loses $1 Peg, Bitcoin Drops to 2020 Levels of Near $24K (Coindesk)

Tether (USDT) snapped to 97 cents in Asian hours, losing its parity with U.S. dollars at writing time. · Separately, bitcoin (BTC) lost the $27,000 support level ...

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Image courtesy of "The Independent"

Why did bitcoin's price crash and where does it go from here? (The Independent)

BTC slumps to lowest level since July 2021 as $1.7 trillion wiped from crypto market over last six months.

[as] on-chain metrics remain incredibly bullish, with the percentage of bitcoin that has not moved in a year now at an all-time high.” This price has proved to be a key support during previous downturns, with bitcoin never having fallen below it for any significant period of time since it first rose above it at the start of 2021. El Salvador was recently joined by Central African Republic in adopting bitcoin as a legal form of tender, marking a broader trend of countries introducing laws to encourage the spread of cryptocurrency use. Reasons for these crashes can range from pandemics to nationwide crackdowns on cryptocurrencies, though more recently they have appeared to line up with movements of traditional markets. The obituaries typically coincide with major price corrections, which are then usually followed up by even more major price rallies. But whichever way it goes from here in the short term, history suggests that it will not be down forever.

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Image courtesy of "Bloomberg"

Crypto-Market Panic Subsides With Prices, Tether Stabilizing (Bloomberg)

On Wednesday, the implosion of the TerraUSD stablecoin kindled wide-spread panic in the crypto space. But 24 hours later, things have calmed down ...

Terraform Labs halted and then restarted its Terra blockchain in the wake of the collapse of TerraUSD and its related Luna token. Tether, the largest stablecoin used in cryptocurrency markets to facilitate trading, recovered from a mini-crash, soothing frayed trader nerves that its troubles might spill into the broader market. On Wednesday, the implosion of the TerraUSD stablecoin kindled wide-spread panic in the crypto space.

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Image courtesy of "Seeking Alpha"

Bitcoin: Picking Your Spots In The Carnage (Seeking Alpha)

The stablecoin price action is creating a big movement toward de-risking in the cryptocurrency market. This appears to be crypto winter. Plan accordingly. A ...

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Image courtesy of "Cointelegraph"

3 reasons why bears aim to pin Bitcoin below $30K for this week's ... (Cointelegraph)

BTC price is in a freefall and data suggests bears plan to keep the price below $30000 until the May 13 options expiry.

The number of options contracts available on May 13 for call (bull) and put (bear) instruments varies, depending on the expiry price. Bitcoin bears need to hold the price below $30,000 on May 13 to secure a $260 million profit. With this said, bears have greater odds of suppressing BTC below $30,000 before the May 13 options expiry. If Bitcoin's price remains below $30,000 at 8:00 am UTC on May 13, only $1 million worth of those call (buy) options will be available. Nubank, the largest digital bank in Brazil and Latin America, also announced that it would allocate roughly 1% of its net assets to Bitcoin. Shopify (SHOP), one of the largest Canadian e-commerce companies also saw its stock plunge by 28%.

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Image courtesy of "Seeking Alpha"

Bitcoin: It's Finally Happening (Seeking Alpha)

Bitcoin has finally broken below $30000 and should be ready to bottom soon. Read more to find out why I'm still bullish on BTC.

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Image courtesy of "FX Empire"

Bitcoin (BTC) Steadies in the Wake of the Terra LUNA Fallout (FX Empire)

Stablecoin woes hit the crypto markets once more on Thursday. A Tether recovery to $0.99 restored confidence and a bitcoin recovery from $25836.

Looking at the EMAs and the 4-hourly candlestick chart (below), it is a bearish signal. A fall through the pivot would test the First Major Support Level at $26,475. The Second Major Support Level sits at $24,027. The Third Major Resistance Level sits at $36,779. On Monday, the market cap had hit a current week high of $1,569 billion before the TerraUSD and Terra LUNA implosion. Late in the day, bitcoin retested resistance at $30,000 before easing back.

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Image courtesy of "CryptoGlobe"

Bitcoin Bounces Back After Falling Below $26K (CryptoGlobe)

In the early hours of Thursday (UTC time), Bitcoin fell below $26000, partly due to fiat-backed stablecoin Tether ($USDT) temporarily losing its peg.

While other market makers have bought USDt < 1$ on Kraken and directly redeemed it for 1$, still enjoying the profit.“ Investing in or trading cryptoassets comes with a risk of financial loss. In the last 24 hours alone, Tether has honoured over 300m USDt redemptions and is already processing another 1bn so far today without issue… However, currently, $USDT is looking healthier and so does Bitcoin. “On Bitfinex the Tether peg is > 1$ while on Kraken it is slightly lower than 1$. This has resulted in arbitrageurs buying USDt cheap on Kraken and selling it on Bitfinex for profit. According to data by TradingView, on crypto exchange Bitstamp, the Bitcoin price fell to around $25,499 — which is the lowest it has been since December 2020 — at 7:17 a.m. UTC (on May 12). Currently (as of 9:58 a.m. UTC on May 12), Bitcoin is trading around $27,510.

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Image courtesy of "Cointelegraph"

Bitcoin 'kisses' $24K realized price after 2nd highest seller losses in ... (Cointelegraph)

Bitcoin retreats to its realized price for the first time since March 2020 as BTC price bounces hard.

USDT/USD traded at 2% below dollar parity at the time of writing. “The USDT peg is restoring already, which is a good sign,” Cointelegraph contributor Michaël van de Poppe wrote in one of many tweets on the day: As the largest stablecoin, Tether ( USDT), saw its United States dollar peg slip, two camps emerged, one accusing Tether of malpractice and another confident that the peg would soon be restored — unlike that of imploded U.S. dollar stablecoin TerraUSD (UST).

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Image courtesy of "CNBC"

Bitcoin tumbles below $27000 for first time since December 2020 as ... (CNBC)

Bitcoin slumped below $27000 Thursday for the first time in over 16 months as cryptocurrency markets extended their losses.

Economists have long feared that tether may not have the required amount of reserves to bolster its dollar peg in the event of mass withdrawals. Adding to investors' fears Thursday was a drop in the value of tether, the world's biggest stablecoin. Ether, the second-biggest digital currency, tanked to as low as $1,789 per coin. Digital currency investors often turn to them for safety in times of volatility in the markets. That's a risky gamble, not least because bitcoin is itself an incredibly volatile asset. That marks the first time bitcoin has sunk below the $27,000 level since Dec. 30, 2020.

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Image courtesy of "Forbes India"

Institutional Bitcoin inflow increases amidst market downtrend (Forbes India)

Despite a cryptocurrency market downturn marked by the collapse of Terra's $LUNA and its UST stablecoin, institutional investors are banking on the flagship ...

Bank of America's experts expect an ongoing correlation between Bitcoin and equities to persist in the foreseeable future. As per the on-chain analytics firm Glassnode, when BTC was trading at around $33,800, around 60 percent of BTC investors were earning profits and the rest 40 percent had unrealised losses. According to the reports, these falling prices have led to unrealised losses for at least 40 percent of bitcoin investors.

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Image courtesy of "Cointelegraph"

Ether plunges 13% while Bitcoin pushes BTC dominance to 2022 ... (Cointelegraph)

Ethereum's native token, Ether (ETH), plunged to its lowest level in almost two months against Bitcoin (BTC) as a crypto market sell-off intensified on May ...

The ETH/BTC plunge coincided with the Bitcoin dominance index — a metric that measures Bitcoin’s market share against altcoins — climbing to nearly 45% on May 12, its highest level since November 2021. As a result of Ether’s slightly limited decline compared to Bitcoin’s, ETH/BTC has shown resilience despite the market downturn in 2022. But ETH faces a sequence of resistance levels as it pursues an upward continuation trend in the coming days. Conversely, ETH/BTC has been testing an upward sloping trendline, marked as “LTF support” in the chart above, as support since June 2021. The ETH/BTC trading pair fell by 7.5% to 0.0663 in the past 24 hours. Similarly, Bitcoin is down 63% from its all-time high of $69,000 in the same period.

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Image courtesy of "Bitcoin News"

Bitcoin, Ethereum Technical Analysis: BTC Slips to Its Lowest Point ... (Bitcoin News)

Bitcoin fell below $30000 for the second time this week. However, today's plunge saw prices fall to their lowest level since December 2020.

Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. However, bears could still attempt to push this towards a floor of 19. Bitcoin fell below $30,000 for the second time this week, however today’s plunge saw prices fall to their lowest level since December 2020. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Similar to BTC, relative strength in ETH also fell to a multi-month low on Thursday, and is now trading below 25. Looking at the chart, the 14-day RSI is now at 23, which is still close to a five-month low.

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Image courtesy of "Coindesk"

Bill Miller Sold Some of His Bitcoin to Meet Margin Calls (Coindesk)

The longtime bitcoin bull remains so, reminding that he's held the crypto through three 80% drawdowns.

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Image courtesy of "Coindesk"

Market Wrap: Bitcoin Stabilizes as Altcoins Underperform; Expect ... (Coindesk)

Analysts expect greater price swings because of macroeconomic risks and ongoing stablecoin woes.

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Image courtesy of "Seeking Alpha"

Bill Miller says he hasn't sold any Bitcoin (Seeking Alpha)

Legendary investor Bill Miller said he hasn't sold any Bitcoin (BTC-USD).

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Bitcoin: Forget The Crypto Winter, This Is A New Ice Age (Seeking Alpha)

Bitcoin has broken below the $30000 level seen as a critical level of technical support. Click here to read our forecast for BTC-USD at the end of 2022.

We don't see a scenario where Bitcoin and the Nasdaq-100 ( QQQ) are going to diverge materially in terms of trending direction. Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. A resolution to the Russia-Ukraine crisis may be positive for global growth expectations and add a bid to asset prices getting past a layer of uncertainty. Bitcoin has always been high-risk, but the message we have here is that it's even more speculative now. BTC is down 39% year to date compared to a 27% decline in NASDAQ. We note that the correlation between BTC and the NASDAQ has trended higher all year meaning both are moving relatively in sync on a day-to-day basis. It's true the price of Bitcoin is still up over the last several years and that many of the long-term bullish factors are still in play. The market respected that technical level in Q2 last year when it first tested $30k before the brisk rally to a new all-time in October. It's different this time, with the move under $30k likely triggering sell signals. The challenge with Bitcoin is that it's up against many of the same headwinds facing the broader market and other risk assets. If there is a silver lining, it's true that this isn't Bitcoin's first time at the selloff rodeo. For us, the $30k BTC price level represented a proverbial line in the sand. Trading down to its lowest level since Q4 2020, any purchase of BTC or nearly any other major cryptocurrency in the period is now underwater.

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Image courtesy of "U.Today"

Bitcoin (BTC) Price Analysis for May 12 (U.Today)

Bulls could not seize the initiative today, and the rates of cryptocurrencies have continued going down. Solana (SOL) is the biggest loser among the top 10 ...

On the weekly chart, Bitcoin (BTC) has also made a false breakout of the old level at $25,831. On the hourly chart, Bitcoin (BTC) has broken the local level at $29,283 and is trying to fix above. Solana (SOL) is the biggest loser among the top 10 coins, falling by almost 22%.

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