NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Crypto Markets Cool After China Rally, Though Hardly a ‘Massive Dump’

Martin Young
Martin Young
5 years ago
2 mins read
technical analysis altcoins

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

A correction after such a monumental crypto rally is to be expected though some industry observers will always see the negative side of things. Bitcoin has largely held on to gains though it appears to be weakening, while the altcoins are falling back at a faster rate.

Bitcoin Holds Above $9,000

Many were expecting a big dump following the weekend’s rally but Bitcoin has held on to most of its gains and remains 24% higher than it was at the end of last week.

According to Tradingview.com BTC crept close to $10k again during trading yesterday but there was too much resistance at this level. Since then it has pulled back to an intraday low of $9,200 and is currently trading just above that.

crypto bitcoin
BTC prices 1 hour – Tradingview.com

A plunge through the $9k level could see BTC back at $8,600 very quickly and this could lead to further declines below $8k again. This would invalidate the recent rally according to economist Alex Krüger who remains bullish.

$BTC. Chart. Bullish. Invalidation: 8200-8000. pic.twitter.com/jJWoGGUZqj

— Alex Krüger (@krugermacro) October 28, 2019

The Bitcoin bashers have already been out spouting about a whale manipulated pump and dump that was nothing to do with China. Peter Schiff just couldn’t resist despite the fact that his beloved yellow metal has never moved by such a massive amount in such a short space of time.

Schiff has altered his stance on crypto recently with a few positive things to say but was back bashing again yesterday with this gem.

“It clearly looks like market manipulation by whales looking to sucker in momentum buyers. By pumping up a technically weak market, they are able to dump more #Bitcoin at higher prices.”

He refutes the fact that China had anything to do with it despite nearly all Chinese crypto assets surging even higher yesterday.

Altcoin Correction

As expected, the altcoins are correcting today with those making the most currently dropping the most. While this may look like a pump and dump, total crypto market capitalization remains above $245 billion at the moment which suggests the inflow of capital is still there.

Ethereum has remained flat, holding on to gains and trading just below $185 at the time of writing. If ETH can retake $200 and move independently of Bitcoin in the next week or so there could be a real rally ahead as Istanbul gets rolled out.

XRP has fallen back below $0.30 but only just, while Bitcoin Cash remains steady at $265. Litecoin and EOS are both weakening with a 3-4% loss but Tron has held on to most of its big gains yesterday.

There is a lot of red across the boards at the moment but losses are minimal for most and largely expected after such a big move. Price does not move in a straight line!

Image from Shutterstock
Tweet123Share196ShareSend
Martin Young
Martin Young

Martin Young

Martin is a Southeast Asia based info-tech, cyber security, and cryptocurrency analyst with 20 years working in web technology and media.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

Bitcoin To Repeat Parabolic Phase From 2017 And 2021? Here’s The Target

Bitcoin is currently on the path to holding a strong footing above $109,000 after reclaiming the $108,000 price level in...

Scott Matherson 8 hours ago
Ethereum

Ethereum Breaks Higher With Conviction: No Signs Of A Breakdown Yet

Bankr, in a recent update, pointed out that Ethereum is maintaining its upward momentum, backed by solid volume and a...

Godspower Owie 9 hours ago

$400M Crypto Seizure by Secret Service Highlights Why Cold Storage and Best Wallet Are Essential

The U.S. Secret Service has now seized over $400M in digital assets, all of which are stored in a single...

Aaron Walker 9 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

TOKEN6900強勢吸金:1周融資破20萬美元 無視市場邏輯再掀迷因熱潮

estherw 33 minutes ago
Ethereum Range Tightens – Liquidity Looms At $2,800 And $2,350

Ethereum Range Tightens – Liquidity Looms At $2,800 And $2,350

Sebastian Villafuerte 6 hours ago

FUNToken’s P2E Model Isn’t Just a Game: It’s a Scalable Digital Economy

NewsBTC 6 hours ago

Premium Sponsors

Press Releases

  • 3 altcoinuri de urmărit în prima săptămână a lunii iulie 2025

    4 hours ago
  • XRP versus Shiba Inu: Care criptomonedă are șanse mai mari să creeze milionari?

    XRP versus Shiba Inu: Care criptomonedă are șanse mai...

    4 hours ago
  • XRP, SOL, LTC holders turn to OPTO Miner to earn $5,777 in...

    7 hours ago
  • More and more XRP and ETH holders are turning to APT Mienr...

    7 hours ago
  • XRP versus Shiba Inu: Care criptomonedă are șanse mai mari să creeze milionari?

    ...

    9 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.