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On Aug.
It has been a turbulent week for Bitcoin. This past weekend, the cryptocurrency’s buyers attempted to catalyze a movement up towards $12,000, eventually pushing it as high as $12,200.
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US crypto exchange Coinbase is going all out with its crypto offerings ahead of a purported bull run, listing DeFi projects, in-demand altcoins, and now a product for loans using one’s Bitcoin.
Bitcoin saw a notable drawdown yesterday that came about after bulls once again failed to break the $12,000 resistance level
This led BTC to lows of $11,200 that were ardently guarded by its buyers, and it has since bounced slightly
The ongoing bounce likely marks bulls attempt to regain control ov
Bitcoin and gold have been rising in tandem, as the dollar has been falling. It has also driven the growth of the market cap of digital gold tokens, backed by the precious metal commodity, to record highs.
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Aside from DeFi, the debate about Ethereum’s current circulating supply has been the most-discussed topic on Crypto Twitter over recent days.
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Bitcoin has stalled after failing to hold above $12,000 for the second time in two weeks.
The cryptocurrency trades at $11,450 as of this article’s writing, below the ever-important $11,500 level.
Despite this weakness in the price of BTC, analysts remain long-term bullish on this nascent market.
Santiment cautioned Bitcoin bulls about the cryptocurrency’s downside prospects in its latest on-chain analysis.
The crypto-focused sentimental analysis platform highlighted a steep decline in the number of daily active addresses (DAA) on the Bitcoin network.
The much-anticipated correction in Bitcoin (Ticker: BTCUSD) has begun. But, according to veteran trader Jonny Moe, it is no reason for bulls to mourn.
The analyst projected the benchmark cryptocurrency’s rally to resume after daytraders secured their short-term profits at $12,000.
Bitcoin has been caught in a firm consolidation phase but is now showing some signs of weakness
The cryptocurrency is currently pushing down towards its key support within the mid-$11,000 region as its bulls falter
There is currently a massive trading range that analysts are closely watching
Which