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: SOL Strategies: The First Solana Treasury Company Listed On Nasdaq
  • 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: SOL Strategies: The First Solana Treasury Company Listed On Nasdaq

Double Threat: Bitcoin And Ethereum, Start Of Bear Market Or Bullish Consolidation?

Reynaldo Marquez
Reynaldo Marquez
1 year ago
2 mins read
Picture of an Ethereum and Bitcoin next to each other

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.

Bitcoin and Ethereum have been moving sideways during today’s trading session. The top two cryptocurrencies were on their way to previous highs but were rejected near-critical resistance levels.

Related Reading | Bitcoin Halving To Bring The Subsequent Crypto Frenzy

At the time of writing, Bitcoin trades at $36,943 with a 0.9% loss while Ethereum trades at $2,642 with a 0.7% loss in the last 24-hours, respectively. The general sentiment in the market has been shifting quickly with every move to either direction suggesting there is a lot of uncertainty in the market.

Bitcoin BTC BTCUSD
BTC rangebound between $30K and $60K in the daily chart. Source: BTCUSD Tradingview

In a recent report published by Bloomberg Intelligence’s Mike McGlone, Bitcoin and Ethereum are presented as a super combo that could boost the dominance of the dollar in the economy of the future. However, the short term seems poised for some more downside.

Due to the bearish trend that has extended from Q4, 2021 into early 2022 with Bitcoin and Ethereum approaching last year’s lows. For Ethereum, McGlone believes ETH’s price could see $1,700 once again.

At that time, the market presented an excess in leverage positions which left it vulnerable to a subsequent liquidation cascade. Once the futures market was purged of over-leveraged positions, Ethereum and Bitcoin were able to reach new all-time highs. In that sense, McGlone said:

Ethereum approaching the lower end of its range has greater risks for shorts than longs.

Ethereum Bitcoin ETHUSD
Source: Bloomberg Intelligence via Mike McGlone

For Bitcoin, the scenario could be similar with $30,000s holding as critical support as it did back in 2021. If BTC’s price remains rangebound between these levels and $60,000, as the expert noted, a lot of traders could be “disappointed”.

Most people expect Bitcoin and Ethereum to trend lower, even lower than during May and July last year, due to the shift in monetary policy from the U.S. Federal Reserve. However, this change could be already priced in, as NewsBTC reported.

Bitcoin And Ethereum With Bullish Fundamentals

Despite macro-economic pressures, Bitcoin and Ethereum maintain their strong fundamentals. Mainly, the expert supports its bullish thesis on these digital assets increasing demand versus their diminishing supplies. In that sense, McGlone noted:

Our graphic shows this consolidation period may be ending, with the path of least resistance pointing higher. About 30% below the 52-week moving average has proven to be a good support reading. Bitcoin revisited this potential bottom in January for the first time since the 2020 trough.

For Ethereum, the introduction of EIP-1559 and its burning mechanism could contribute to potential future appreciation as it becomes a scarcer asset. Although “less defined” than Bitcoin’s supply, ETH’s is in a downward trend.

Related Reading | TA: Ethereum Below This Support Could Spark Another Sharp Decline

These assets are still in their early days, despite the news of many big institutions integrating them into their business/investment strategies. Therefore, there is still have a lot of room to come out on top, especially in the current macro environment.

Bitcoin Ethereum Supply
Source: Bloomberg Intelligence via Mike McGlone
Tweet123Share196ShareSend
Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

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

coinbase-xrp-avoirs-divises-par-3

Coinbase divise ses avoirs XRP par 3 : repositionnement stratégique ou perte de confiance

Coinbase vient de faire une coupe massive dans ses réserves de XRP. En quelques semaines, la plateforme est passée d’environ...

guillaumev 4 hours ago
altcoins-pump-crypto-imminent-septembre-2025

3 altcoins bien placés pour un pump crypto imminent en septembre 2025

Septembre 2025 remet de l’essence dans le moteur des altcoins. Les volumes se réveillent, les communautés s’échauffent et les graphiques...

guillaumev 4 hours ago
ukraine-encadre-et-taxe-crypto-ce-qui-change

Crypto : l’Ukraine se prépare à encadrer et taxer le marché des cryptomonnaies

Kiev appuie sur l’accélérateur. Le Parlement ukrainien vient de voter en première lecture une loi qui légalise les cryptos et...

guillaumev 5 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

solana-price-prediction-1000-snorter-100x-opportunity-tw

Solana最新價格預測SOL將飆至1000美元 Snorter成下個百倍幣機遇

Mark Mak 15 minutes ago
Ripple

Africa Becomes Ripple’s Next Battleground For RLUSD Stablecoin

Christian Encila 15 minutes ago
Solana SOL SOLUSD

Whales Inject $1B Into Solana DeFi as Transactions Surge 500%, Here’s Why

James Halver 1 hour ago

Premium Sponsors

Press Releases

  • 50万ドル調達の新興プロジェクトが次の大型ミームコイン候補に浮上

    ...

    37 minutes ago
  • イーサリアム売却後に注目される次のアルトコイン投資先4選

    ...

    51 minutes ago
  • アルトシーズン前に投資候補となる仮想通貨プレセールの紹介

    ...

    1 hour ago
  • 仮想通貨おすすめ:市場回復期に注目すべき銘柄リスト

    ...

    2 hours ago
  • 今日注目すべき1ドル未満の新しい仮想通貨 ― 9月6日版

    今日注目すべき1ドル未満の新しい仮想通貨...

    2 hours ago

Newsletter

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.