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: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans
  • 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: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

Is Bitcoin Ready For A Breakout? Glassnode Co-Founder Weighs In

Christian Encila
Christian Encila
1 year ago
3 mins read
Bitcoin

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, the world’s largest cryptocurrency by market capitalization, has been in a consolidation phase for the past few weeks. While this may seem like a period of relative stability, on-chain intelligence platform Glassnode co-founder Yann Allemann suggests that it could indicate an impending price movement. 

In the past, similar consolidation periods have often been followed by price swings, and investors are closely watching for any signs of where the market might be headed.

While some investors may be nervous about the recent consolidation, others see it as an opportunity to buy in before the next big move. As the market awaits the next Bitcoin price action, analysts and enthusiasts alike are speculating on what might come next for the leading cryptocurrency.

Related Reading

Conflux Network Partners With China Telecom For Blockchain, SIM Project – Details

2 years ago

Factors Indicating A Positive Outlook For Bitcoin Price

Amidst the current state of the Bitcoin market, several factors have been identified by Allemann on Twitter, which contribute to the prediction of a positive future for the cryptocurrency. These factors include the depletion of short-sellers’ resources, the reinforcement of support levels, and the expectation of an overall bullish trend. 

Shorts getting exhausted the longer #BTC holds $26.8k… big move coming

The price explodes whenever #Bitcoin consolidates below the MA. Bands are already tight. The clock is ticking.https://t.co/t20rwaMxPB pic.twitter.com/5UG6UB9KQn

— 𝗡𝗲𝗴𝗲𝗻𝘁𝗿𝗼𝗽𝗶𝗰 (@Negentropic_) May 17, 2023

Bitcoin’s price has been fluctuating within the range of $26,500 and $27,100, a period characterized by the prevalence of “extreme fear” sentiment among market participants.

At the time of writing CoinGecko shows Bitcoin’s price stands at $27,372, reflecting a modest 1.9% increase over the past 24 hours. However, it is worth noting that the cryptocurrency has also experienced a slight decline of 0.2% over the course of the previous seven days.

Source: Coingecko

Nonetheless, Allemann highlights that this pattern often serves as a precursor to upward movements in the market. One compelling observation is the resilience of Bitcoin’s price in maintaining levels above the 50 and 200 Simple Moving Averages (SMAs), which now serve as robust support levels that have proven their strength through five separate tests. 

These technical indicators not breaking down further signify a positive trend in the market and add to the overall optimism surrounding Bitcoin’s future performance.

Debt Ceiling Uncertainty Could Impact Bitcoin Price

Another factor that could potentially impact Bitcoin’s price in the coming days is the ongoing debate surrounding the debt ceiling in the United States. 

The debt ceiling is a limit on the amount of money that the US government can borrow to fund its operations. If the government fails to raise the debt ceiling, it could result in a default on its debt obligations, which could have serious consequences for the global financial system.

Crypto total market cap barely unchanged at $1.10 trillion. Chart: TradingView.com

Related Reading

top 5 cryptos

Power Play: Top 5 Cryptos Set To Ignite The Week With Decent Gains

2 years ago

The uncertainty surrounding the debt ceiling debate could lead to increased volatility in the financial markets, including the cryptocurrency market. Historically, Bitcoin has demonstrated a positive correlation with the stock market, particularly during times of economic uncertainty. 

Therefore, any adverse effects on the stock market resulting from the debt ceiling debate could potentially spill over into the cryptocurrency market and cause significant price fluctuations.

-Featured image from Bitcoinik

Tweet123Share196ShareSend
Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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

Bitcoin Price Struggles Under Resistance

Bitcoin Price Struggles Under Resistance – Will Bulls Fail and Bears Take Control?

Bitcoin price extended losses after it traded below $114,000. BTC is now consolidating losses and might decline further to test...

Aayush Jindal 2 hours ago
ada-price-holds-0-80-snorter-presale-surges-2025-surprise-tw

ADA今日價格守住0.80美元關鍵支撐 Snorter預售爆紅成2025最大驚喜?

在萬物皆跌的加密世界裡,ADA試圖守住0.80美元的支撐,這不是一次技術上的死撐,而是信念與市場心理之間的拉鋸。自從跌破1美元後,Cardano被許多人貼上了過氣公鏈的標籤,即便它曾在牛市頂峰站上3....

Kelvin Lee 3 hours ago
Solana SOL SOLUSD

Solana Price Tightens Near $200 While Adoption and Treasuries Challenge Bitcoin

Solana (SOL) has entered a crucial zone as the price tightens near the $200 support level. The recent pullback in...

James Halver 3 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

Solana DATs Arrive In Australia: Fitell Corporation Announces $100M SOL Treasury Strategy

Rubmar Garcia 1 hour ago
Ethereum Faces Resistance Wall

Ethereum Faces Resistance Wall – Could Market Be Preparing for Another Decline?

Aayush Jindal 2 hours ago
Bitcoin

Bitcoin Dip-Buy Calls Spike: Why This Could Actually Be Bearish

Keshav Verma 2 hours ago

Premium Sponsors

Press Releases

  • Az altcoin szezon itt van. Ez a három tényező hajthatja a bikapiacot

    Az altcoin szezon itt van. Ez a három tényező hajthatja...

    8 hours ago
  • Sezon na altcoiny już tu jest. Te trzy czynniki mogą napędzać hossę

    Sezon na altcoiny już tu jest. Te trzy czynniki mogą...

    10 hours ago
  • Sezonul altcoin este aici. Acești trei factori sunt văzuți ca motoare ale raliului

    Sezonul altcoin este aici. Acești trei factori sunt...

    13 hours ago
  • ドージコイン 今後の価格予測:ウォールストリートが注目する「1ドル圏」への道

    ドージコイン...

    15 hours ago
  • Сезонът на алткойните е тук. Три фактора се очаква да задвижат ралито

    Сезонът на алткойните е тук. Три...

    15 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.