Bitcoin Continues To Slide But Displays Bullish Divergences On Charts

Bitcoin over the weekend was seen trading below its critical price support as broader market weakness continues. Traders' confidence in the asset has remained quite low considering the selling pressure in the market.

Timeline of Bitcoin

Bloomberg Intelligence analyst Mike McGlone says that the blue-chip crypto assets are set to outperform other commodities by the end of the year. In a new interview on the Scott Melker podcast, McGlone says that leading digital assets Bitcoin (BTC), top smart contract platform Ethereum (ETH), and ETH competitor Solana (SOL) will resume their uptrend The post Bitcoin, Ethereum and Solana To Resume Uptrend by the End of the Year, Says Bloomberg Analyst – Here's Why appeared first on The Daily Hodl.

Bitcoin follows a rangebound trajectory as the financial world trends to the downside. The first crypto by market cap is moving around critical areas of support as it was rejected from the low $40,000s.

On-chain data shows while the price of Bitcoin has continued to struggle recently, miners have shown diamond hands. Bitcoin Miner Reserve Holds Still Amid The Recent Price Consolidation As pointed out by an analyst in a CrypoQuant post, BTC miners have been accumulating for some time now, and the dwindling price hasn't scared them.

On-chain data shows Bitcoin hasn't yet hit a bear market bottom as the supply in profit is still more than that in loss. Bitcoin Supply In Profit/Loss Says A Majority Of Network Is Still In Profit As explained by an analyst in a CryptoQuant post, past trend may suggest that the current BTC market still

The community-driven movie streaming platform, Angel Studios, has recently revealed in a filing with the U.S. Securities and Exchange Commission (SEC) that it purchased bitcoin worth more than $10 million.  In the filing, Angel Studios noted that its bitcoin purchase was part of its plan to diversify and maximize returns on its cash balances.

Legendary investor Warren Buffett is calling out those who think that the US government will allow Bitcoin and crypto assets to proliferate as new forms of money. During the Berkshire Hathaway Annual Shareholder meeting on Saturday, Buffett says that he wouldn't take all the Bitcoin in the world, even if it was offered to him The post Warren Buffett Calls Bitcoin Advocates ‘Out of Their Mind,' Says USD Only Real Form of Money appeared first on The Daily Hodl.

A group of executives from within the Bitcoin industry has written a letter to the U.S. Environmental Protection Agency (EPA) in an effort to debunk myths about the environmental dangers of crypto mining. The letter was in response to a statement from Congress last month calling on the EPA to monitor crypto mining facilities for The post Jack Dorsey, Michael Saylor and Bitcoin Community Pen Letter to Environmental Protection Agency To Refute Myths appeared first on The Daily Hodl.

In a note authored by Michael Saylor, Nic Carter and Darin Feinstein, the Bitcoin Mining Council alleges that lawmakers can't tell the difference between a data center and a power plant.

Popular on-chain crypto analyst Willy Woo has suggested that Bitcoin ($BTC) is seeing unparalleled demand on the spot market coming from institutional investors who are accumulating the flagship cryptocurrency. According to a tweet Woo shared with his over 1 million followers on the microblogging platform Twitter, the price of Bitcoin has been moving sideways because

Bitcoin price analysis is bearish today as we have seen another lower high set at $39,000 over the last 24 hours after a substantial retracement. Additionally, the descending resistance line has been confirmed, indicating that another push lower will follow.