Crypto News

Bitcoin Price Analysis: Orbiting 26034 Level – 27 August 2023 Bitcoin (BTC/USD) remained confined to a tight range early in the Asian session as the pair orbited the 26034.43 area, right around the 38.2% retracement of the appreciating range from 25610 to 26296.78. Price activity spiked to test the 26296 area before coming off to the 25750 area, representing a test of the 78.6% retracement of the same appreciating range. Sentiment Result : Neutral

Shiba inu was one of Saturday's notable gainers, as price rebounded from recent lows to start the weekend. Today's rebound comes as the global crypto market cap moved into the green earlier in the session. XRP was also higher on Saturday. Sentiment Result : Positive

With Bitcoin's price experiencing fluctuations in a range, there's a noticeable shift in how it's being traded on exchanges. Some are holding onto their assets, while others are making calculated moves, all against a backdrop of global economic factors and market predictions. Sentiment Result : Positive

Arthur Hayes, the Co-Founder and former CEO of BitMEX, recently penned a comprehensive blog post examining the Federal Reserve's monetary policy and its implications for the cryptocurrency market. Hayes scrutinizes the Fed's dual control over both the quantity and price of money, arguing that this approach is counterproductive and politically motivated. Sentiment Result : Neutral

Bitcoin experienced a slight recovery of 0.21% in the last 24 hours. If BTC fails to break the nearest resistance of $26,300 it will drop below $25K. Sentiment Result : Negative

Crypto asset management firm Hashdex has entered the spot Bitcoin ETF race in the US. The global pioneer in crypto asset management filed an application with the U.S. Securities and Exchange Commission (SEC) to hold spot Bitcoin in the Bitcoin futures ETF. Sentiment Result : Positive

BTC struggles as Fed Chair Powell's hawkish speech and ETF uncertainties assert a bearish trend in the crypto market. Sentiment Result : Negative