Bitcoin USD

The Biden Administration has turned pro-crypto overnight, boosting the odds of a spot ETH ETF approval later today.

With bitcoin effectively taking its general trend from the stock market these days, traders should take note that US indices are mixed around all-time highs and Nvidia (a key driver of the Nasdaq) trades below resistance ahead of a key earnings report.

On Tuesday I outlined a bullish case for bitcoin futures whilst prices remained above $60k. One soft US CPI and retail sales report later, bullish range expansion has most certainly kicked in.

Crude oil finds itself between a rock and a hard place where technical levels are concerned, although that doesn't mean it can't at least make a minor bullish breakout before another leg lower. Price action on bitcoin appears to be more constructive for bulls, at least over the near term.

Momentum may have turned higher for bitcoin this week, yet it lacks the trading volumes usually associated with a strong rally.

A breakout from Bitcoin’s recent $61K-$73K range is inevitable – see the key levels to watch from here below!

Bitcoin trades less than a day's range away from its all-time high. But whilst a break higher could be on the cards, we're wary that it could be a 'last hurrah' before its move to $60k.

Bitcoin saw the anticipated bounce above $60k on Wednesday, and there may still be some juice in the bullish tank for another crack at $70k - even if my bias for the weekly chart remains bearish further out.

Bitcoin and Ethereum remain essentially unchanged this month while gold has struggled and the Nasdaq 100 has surged

Bitcoin (BTC/USD) and Ethereum (ETH/USD) are pulling back after last week's big breakouts - where next?

The FTSE outlook and risk sentiment in general could sour even more if the upcoming earnings from Corporate America also suggest the US and global economies are weakening more than expected.

Will the recent improvement in cryptocurrency markets and a sharper focus on costs lead to a better 2023 for Coinbase?

Softer cryptocurrency prices and lower levels of volatility will continue to weigh on Coinbase this quarter.

Rising interest rate expectations and fears over recession continue to weigh on sentiment

Using bitcoin futures we can see that Bitcoin traders aggressively went short just above the year to date low. Now we wait to see if it breaks…

Coinbase shares have lost over two-thirds in value since the start of 2022 amid fears another crypto winter could be on the cards.

Stagflation concerns and rate hikes continue to weigh on risk appetite