• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
Breaking News: Breaking: CoWSwap Loses $150,000 In Exploit
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Breaking: CoWSwap Loses $150,000 In Exploit
Bitcoin

Price Of Bitcoin Retreats Under $42,000 As Enthusiasm From Miami Event Fizzles

Christian Encila by Christian Encila
10 months ago
in Bitcoin, Crypto
Reading Time: 2 mins read
Advertisement

The price of Bitcoin failed to break through the $43,500 resistance zone and fell below the $42,000 mark before changing course.

The world’s most valuable cryptocurrency is now exhibiting bearish characteristics and remains vulnerable to a move towards $40,500, multiple charts show.

Bitcoin dipped below the $42K level for the first time since March 22, returning to the range in which it has traded this year, owing to increased anxieties about mounting interest rates.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Suggested Reading | Bitcoin And Ether Up As BTC Whales Get Busy Acquiring New Supply From Sellers

Bitcoin Backpedals For 6th Straight Day

The most popular cryptocurrency plummeted to $41,818 on Monday morning in Asia, backpedaling for the sixth day in a row.

Since late March, when it peaked just above $48K, BTC – and other tokens – have been dragged lower by concerns about restrictive monetary policy.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

The cryptocurrency market was trading sideways Monday. Bitcoin and Ethereum were both down in the early hours, while altcoins experienced a strong decline.

Global unrest intensifying as a result of Russia’s invasion on Ukraine, combined with economic uncertainty, is pushing markets into a tailspin.

Other major risks for the digital sector include rising prices and interest rate hikes.

Ascent Wanes After Miami Conference

The excitement generated by last week’s Bitcoin 2022 conference in Miami was insufficient to halt the trend.

Antoni Trenchev, managing partner of cryptocurrency lender Nexo, noted in an emailed statement:

“Now that the sugar rush associated with Bitcoin 2022 has passed, Tuesday’s (likely) dismal US consumer price report serves as a reminder that the central bank is caught between a rock and a hard place when it comes to addressing uncontrolled inflation without imploding the economy.”

BTC total market cap at $785.54 billion on the weekend chart | Source: TradingView.com

Bitcoin has spent the majority of the year trading in a region of roughly $35,000 to $45,000. Last month’s burst above $48,000 briefly reversed the token’s year-to-date losses, but BTC encountered resistance at its 200-day moving average.

Suggested Reading | What’s Next For Bitcoin As Prices Encounter Difficulty Reclaiming $43,000?

BTC Market Cap Down

The world’s cryptocurrency market capitalization has decreased to $1.93 trillion, down as much as 3% in the last 24 hours. However, the overall volume of cryptocurrency trade surged by more than 15% to $63.91 billion.

Expectations of tighter monetary policy have weighed on demand for riskier assets like cryptocurrencies and technology stocks, which are increasingly moving in lockstep.

Other popular cryptocurrencies also fell on Monday, with Polkadot falling 8.7 percent and Ether falling 4.6 percent.

Meanwhile, as Bitcoin grows in maturity and use, its price becomes increasingly associated with the pricing of traditional assets such as equities.

This rising link implies that any occurrence that results in price reductions in traditional markets will almost certainly result in comparable or bigger price declines in Bitcoin.

Featured image from Medium, chart from TradingView.com
Tags: bitcoinbtccryptomiami
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Christian Encila

Christian Encila

Freelance writing is Christian's other cup of tea. When not on his computer, he unwinds with a bottle of beer and laughs with his son over cartoons. Other than that, he's just like everybody else who wants to be happy with their life.

Related Posts

This Bitcoin On-Chain Metric Is At A Historical Resistance, Will BTC Decline?

This Bitcoin On-Chain Metric Is At A Historical Resistance, Will BTC Decline?

29 mins ago
Hacking CoWSwap

Breaking: CoWSwap Loses $150,000 In Exploit

5 hours ago
Bitcoin

Bitcoin Small Addresses Have Been Rapidly Growing, Here’s What It Means

15 hours ago
Bitcoin Network

Craig Wright Wants His $2.5 Billion, Demanding For a Bitcoin Hard Fork

3 days ago
Bitcoin

Don’t Get Too Greedy On Bitcoin, Analyst Suggests, Here’s Why

4 days ago
bitcoin price bear

Will Bitcoin Price Return To $20,000? Here’s What Investors Expect

4 days ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

ALTCOIN DAILY TO PRODUCE AND STAR IN NEW “SHARK TANK OF CRYPTO” TV SHOW, KILLER WHALES

February 7, 2023

SinVerse Studios Announces $1 Million Buyback Program for the SIN token

February 7, 2023

Join the Revolution: Invest in STARSTAKING for 25% APY and the Chance to Win Big with the DeFi Lottery Program

February 7, 2023

The Top Gaming Crypto Coins To Buy In February 2023

February 7, 2023

Rich Dad, Poor Dad Author Invests In Crypto. Here’s Why He’d Consider Snowfall Protocol (SNW) and Decentraland (MANA), In Addition to Bitcoin (BTC)

February 7, 2023

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.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins

© 2022 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.