The price of Bitcoin has continued to experience selling pressure, and this has seen it trade below the 50-DMA. At the time of writing, Bitcoin (BTC) is at $65,685, 5% down from the previous week on the weekly chart. Bitcoin market capitalization fell below $1.3 trillion, while daily turnover increased by 125 percent to more than $35.7 billion. This decline occurs as spot Bitcoin ETFs see large outflows, suggesting that institutions are losing interest. Price Clusters Suggest Further Downside Citing the price clusters that appear at $71,600, popular crypto analyst Rekt Capital says more downside is expected. In a June…

Despite a bearish week in the Polkadot (DOT) market with a dip from a 7-day high of $6.79 to a weekly low of $6.08, bulls have opened the week in a rally. In the last 24 hours, after support was established at the intra-day low of $6.17, bulls reclaimed market control, soaring the price to an intra-day high of $6.42, where support was established. However, as of press time, bears had managed to shift control with DOT exchanging hands at $6.14, a 0.75% decline. Concurrently, DOT’s market capitalization declined by 0.71% to $8,812,269,492. However, with the ongoing price dip, traders…

Solana’s price has recently tumbled to a 30-day low, reaching $139. This decline was attributed to a number of factors such as the launch of the Ethereum ETF by the United States Securities and Exchange Commission (SEC) in late May which diverted the attention of investors from other Layer-1 projects such as Solana. Even with the efforts by Solana node validators to reduce the selling pressure, the US Federal Reserve maintaining a hawkish stance with no more rate cuts also played a role in the decline. Solana’s Price Forecast and Market Positions Following the decline, there are indications that Solana’s…

The Bitcoin price movements in the past 24 hours depict a clear downward slope starting as high as $71,333 before dropping significantly below the $70,000 mark. This sharp drop which happened in a very short time, shows a bearish attitude that dragged the price of Bitcoin to approximately $68,500. Throughout the day, the price movement stabilized somewhat, maintaining a level of just under $69,500 and trading at 69,300 at press time. This stabilization signifies a cooling-off period during which investors start reviewing their decisions. Such periods occur after high volatility as the market tries to recover from the effects of…

Despite a bullish start to the day, Cardano (ADA) price has faced stiff resistance at the intra-day high of $0.455. Consequently, the ADA market succumbed to bearish pressure, with prices dipping to a low of $0.4445 before establishing support. However, a bullish attempt for recovery was nullified after a retest of a lower high of $0.4498 during the day.  If the bulls manage to breach the $0.455 high, the next resistance levels to watch will be at $0.46 and $0.465. On the other hand, if the bears continue to dominate, ADA could retest support levels at $0.44 and $0.435. As…

Bitcoin witnessed a surge in price following the release of the United States Gross Domestic Product (GDP) figures for the first quarter of fiscal 2024. The GDP rose by 1.3%, surpassing Wall Street’s anticipations of a 1.2% increase. This positive economic signal has boosted investor sentiment, impacting financial markets, including the cryptocurrency sector. BTC/USD 24-hour price chart (source: CoinMarketCap) The positive revision of the GDP data followed an initial estimate that showed a growth rate of 1.6% for the same quarter, after a previous high of 3.4% in the final quarter of 2023. Despite this slowdown, the better-than-expected revision was…

The price of Bitcoin (BTC) has seen a slight decline following a series of high-volume transactions associated with the defunct exchange, Mt. Gox. These movements have prompted cautious trading behavior among investors, leading to a modest decrease in Bitcoin’s value. The cryptocurrency, which previously maintained stable trading levels, has dropped by approximately 2% to a daily low of under $67,500. This shift in market dynamics is seen as a reaction to the recent financial activities linked to Mt. Gox’s long-awaited repayment processes. At press time, BTC, however, had recovered with price exchanging hands at $68,392, a 0.08% decline from the…

Dogecoin (DOGE), the cryptocurrency that originally started as a meme, has seen its prices pull back after encountering resistance in the market. Despite the initial momentum that suggested a recovery, DOGE struggles to maintain its upward trajectory as it confronts significant sell-off pressures at key resistance levels. As of press time, DOGE was exchanging hands at $0.1683, a 0.75% decline from the day’s high.  DOGE/USD 24-hour price chart (source: CoinMarketCap) Encountering Key Resistance Dogecoin’s recent market activity indicates a failure to surpass the crucial resistance mark at $0.17. The cryptocurrency has tested this barrier multiple times over the past week…

Dogecoin (DOGE), the meme-inspired cryptocurrency, has been experiencing a notable surge in market value. This movement is buoyed by several factors, including market sentiment, influential endorsements, and technical patterns that suggest a strengthening of bullish momentum.  Recent Price Movements and Market Dynamics Dogecoin has shown significant price changes within a short span, marked by an increase in trading activity and investor interest. Beginning the day at around $0.15, the cryptocurrency quickly surged to $0.17. This peak is particularly notable as it represents a critical resistance level that Dogecoin has tested multiple times over the past 24 hours.  After reaching this…

The Indian stock market witnessed moderate advances today, continuing its uptrend from last week, with both the Nifty 50 and the BSE Sensex registering gains. The Nifty 50 closed at 22,597.80, up by 68.75 pts, 0.31%, moving between a low of 22,483.15 and a high of 22,629.50. Similarly, the BSE Sensex ended the day at 74,221.06, marking an increase of 267.75 pts, 0.36%, and ranged from 73,860.33 to 74,307.7 Nifty 50 Index Let’s now dive broadly and look at Nifty 50 top 5 gainer stocks and top 5 loser stocks having covered the top 10 best-performing stocks of May 22,…