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

BAND Price Explodes 31% as Bitcoin Corrects Lower; What’s Next?

Yashu Gola
Yashu Gola
4 years ago
3 mins read

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.

  • BAND, the native asset of a decentralized oracle of the same name, surged by up to 31 percent on Tuesday.
  • The explosive rally followed a five-day losing streak that saw BAND/USD exchange rate falling from its all-time high at $5.259 to as low as $2.825.
  • It also came as Bitcoin plunged modestly from its year-to-date top following a three-day price rally.

An explosive price rally Tuesday pushed the BAND price up by as much as 31 percent.

The oracle token established an intraday high at $4.336 as traders sought safety against a corrective Bitcoin market. Nevertheless, it failed to hold the local top for a long time, leading to a downside correction towards $3.831.

BAND, cryptocurrency, crypto, bitcoin

BAND recovery following a massive plunge from its historic high. Source: TradingView.com

The plunge appeared as Bitcoin recovered part of its intraday losses, illustrating an accurate negative correlation with the altcoin. Earlier this month, the BAND’s supersonic price rally from circa $1 to $5.259 had also coincided with Bitcoin’s flat action inside the $9,100-$9,300 range.

The proximity left the leading cryptocurrency as a short-term indicator to measure BAND’s next price moves. It somewhat puts the altcoin under risks of a further bearish correction.

Bitcoin Rally Continuation

Bitcoin jumped above $10,500 earlier this week, a level it had failed to breach for almost a year. Eventually, the cryptocurrency established a year-to-date high just shy of $11,500, also as bids for safe-haven assets rose amid expectations of a new stimulus and the Federal Reserve’s two-day policy meeting on interest rates.

Observers stated that the US central bank would most likely keep its benchmark rates unchanged near zero. If they do, then investors would more likely shift their capital from lower-yield Treasury bonds to riskier assets such as stocks, gold, and even bitcoin.

On the other hand, the US Republicans proposed to inject another $1 trillion into the US economy to aid people and businesses affected by the fresh COVID-induced lockdowns. That also created additional downside pressure on the US dollar, which is already trading near its two-year low.

BAND, cryptocurrency, crypto, bitcoin

Bitcoin-BAND is moving in the opposite direction. Source: TradingView.com

The supportive macro fundamentals project Bitcoin as a better asset to hold. But the cryptocurrency’s recent history of falling below $10,000 every time upon a retest prompt traders to keep one foot in the DeFi tokens. That explains the BAND price rally on Tuesday.

What’s Next for BAND

On a YTD timeframe, BAND is still up by more than 1,500 percent. Its daily Relative Strength Indicator yet shows it in a neutral range – which means it has room to grow further.

Band Protocol is growing stronger by the hour. Four green candles in a row + a move in AltRank™ from 172 to 5 out of 1,816. #altrank looks at increasing social activity + price performance vs #bitcoin + rising trading volume.https://t.co/GfeTf8wI2r #bandprotocol $band pic.twitter.com/m0gDWlak27

— LunarCrush (@LunarCrush) July 28, 2020

As usual, profit-taking sentiment, coupled with bullish macro narratives for Bitcoin, may limit the BAND’s price growth. But a correction in the Bitcoin market could wake the BAND bulls, who may attempt a retest towards its all-time high.

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

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

Warning Signs? Long-Term Bitcoin Holders Take Profits as Leverage Spikes

Warning Signs? Long-Term Bitcoin Holders Take Profits as Leverage Spikes

Bitcoin continues to maintain its upward trajectory following a minor correction, now trading at $107,251, reflecting a 2.3% increase over...

Samuel Edyme 5 hours ago

免費比特幣空投獎勵引爆加密社區熱潮 BTCBULL預售倒數最後今日!

2025年加密市場熱度逐步升溫,一個名為Bitcoin BULL($BTCBULL)的迷因幣項目正在以「真實比特幣空投」作為武器,在短短數週內迅速吸引了大量資金與媒體焦點。隨著預售進入最後倒數階段,$...

Mark Mak 6 hours ago
Bitcoin Dominance Shows Bearish Divergence – Altseason Could Be Near

Bitcoin Dominance Shows Bearish Divergence – Altseason Could Be Near

Bitcoin briefly pushed into the $108,800 level a few hours ago but was once again unable to reclaim higher prices,...

Sebastian Villafuerte 6 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

XRP

Insane Or Insightful? VC Firm Says XRP Could Reach Nearly $9,000 In Just 5 Years

Christian Encila 41 minutes ago
Strong Ethereum Accumulation Detected: LTH Buying Heavy During June Consolidation

Strong Ethereum Accumulation Detected: LTH Buying Heavy During June Consolidation

Sebastian Villafuerte 2 hours ago
Bitcoin

Pundit Warns Bitcoin Is Setting Up Liquidity Traps As It Campaigns For New ATHs

Scott Matherson 3 hours ago

Premium Sponsors

Press Releases

  • 仮想通貨プレセール残り24時間で800万ドル目前 次の100倍銘柄となるか?

    ...

    10 hours ago
  • 1ドル以下で注目される仮想通貨おすすめ、Solana系トークンに割安銘柄あり?

    ...

    11 hours ago
  • Най-добрите криптовалути преди...

    11 hours ago
  • リップルとSECの訴訟終了後に注目すべき新しい仮想通貨プロジェクトとは

    ...

    11 hours ago
  • BTC

    仮想通貨 おすすめ:BTC Bull...

    11 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.