Price analysis 5/31: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC
Bitcoin and most major altcoins are struggling to hold on to their higher levels, indicating that the bears have not given up yet.
Bitcoin and most major altcoins are struggling to hold on to their higher levels, indicating that the bears have not given up yet.
BTC’s historically low volatility could abruptly change in June, with long-term holders making moves and options traders showing an uptick in bearish positions.
On-chain data shows that an imminent Bitcoin rally could drive its price up to $32,000, says Glassnode lead-analyst James Check.
BTC and stocks look to rally after US lawmakers potentially reach a deal on the debt ceiling.
The recovery in the U.S. stock market seems to have acted as a catalyst for the relief rally in Bitcoin and select altcoins.
Bitcoin price could be gearing up for a decisive move, which could set the stage for XRP, LTC, RNDR and CFX.
Given the uncertainty in the macroeconomic environment, Bitcoin price bulls have no reason to bet against a six-week descending wedge pattern.
The recovery in Bitcoin and most major altcoins halted near respective overhead resistance levels, indicating that the bears are active at higher levels.
Traders are still tiptoeing around markets, as multiple risk events remain at the forefront, but BTC margin and futures markets are starting to favor a bullish breakout.
Bitcoin and most major altcoins are selling-off on rallies, proof that investor sentiment remains negative in the short-term.