BTC

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.

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 ...

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%.

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.

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.

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.

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).

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.

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.

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.

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.

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

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

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