Bitcoin’s (BTC) 26.62% decline from its $109,500 all-time high is en route to becoming the deepest drawdown of the current bull market cycle, according to CryptoQuant head of research, Julio Moreno. Bitcoin price drawdown analysis. Source: X Bitcoin has experienced significant drawdowns in past cycles, with a notable 83% drop from its peak in 2018…
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Global financial markets continued to tumble on April 7, as US equities dropped more than 3%, wiping more than $2 trillion in value on market open. The pullback saw the S&P 500 drop 2.79%, with the index officially entering a bear market, following a 20% decline from its recent all-time highs. However, the SPX momentarily…
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As stock markets crumbled for a second day on April 4, US Federal Reserve Chair Jerome Powell said that the Trump administration’s “reciprocal tariffs” could significantly affect the economy, potentially leading to “higher inflation and slower growth.” Addressing the public at a conference on April 4, Powell maintained a cautious approach and noted that tariffs…
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Bitcoin (BTC) sits in one of its least bullish phases since January 2023. According to Bitcoin’s “bull score index,” investor sentiment is showing its lowest reading in two years. Bitcoin bull score index. Source: CryptoQuant CryptoQuant’s “Crypto Weekly Report” newsletter explained that “bull score index” readings that sit below 40 for extended periods increase the likelihood of…
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Bitcoin (BTC) and US stock markets all sold off sharply after US President Donald Trump shook up financial markets by announcing a list of reciprocal tariffs on several countries. On April 3, the S&P 500 saw a 4.2% drop at market open, its most significant single-day decline since June 2020. The Dow Jones Industrial Average…
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Bitcoin’s (BTC) price is off to a swift start in Q2, rallying by 5.53% to an intraday high of $87,333 on April 2. Currently, Bitcoin is emerging from a ten-week downtrend that began on Jan. 20 when the price peaked at $110,000. A decisive close above the trendline might lead to continued bullish momentum for…
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Bitcoin (BTC) price dipped below its ascending channel pattern over the weekend, dropping to $81,222 on March 31. The top cryptocurrency is set to register its worst quarterly return since 2018, but a group of whale entities are mirroring a 2020-era bull run signal. Bitcoin 1-day chart. Source: Cointelegraph/TradingView In a recent quick take post,…
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After a positive start to the week, Bitcoin price reverted to negative returns after BTC (BTC) dropped 3.5% to an intraday low of $84,120 on March 28. The price rejection occurred at the cusp of the descending trendline (black) and the upper range of the ascending channel pattern. Bitcoin 1-day chart. Source: Cointelegraph/TradingView On the…
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Since reaching a weekly high of $88,752 on March 24, Bitcoin (BTC) price has formed a series of lower highs and lower lows in the 1-hour time frame chart. As the end of the week approaches, Bitcoin price has failed to break above the $88,000 resistance, reducing the chance for a $90,000 retest before the…
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Bitcoin network economist Timothy Peterson maintains his optimistic outlook for BTC (BTC), suggesting that there is a 75% chance that the asset will hit new highs in the next nine months. In a March 25 X post, Peterson highlighted BTC’s current position near the lower bound of its historical range. The analyst emphasized that Bitcoin’s…
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