Bitcoin's Seventh Week In Red Continues: Price Analysis

Bitcoin's seventh week in red continues while the previous six-week record happened back in 2014 so let's read more today in our latest Bitcoin news today. Bitcoin's seventh week of losses is unprecedented.

Timeline of Bitcoin

Bitcoin price analysis is bearish today as we have seen failure to continue higher after another higher low was set at $29,500 yesterday. Therefore, BTC/USD should retest the support next and potentially break lower to continue along with the several-week bearish trend.

Bitcoin and Ethereum started off the week with modest price rises, with the king coin trading at $30,424.97 while the top alt was changing hands at $2,077.09. That being said, prices are only half the story.

Bitcoin (BTC/USD) extended its sideways trading activity early in the Asian session as the pair continued to hover around the 30000 figure after recently trading as high as the 31418.35 area, representing a test of the 76.4% retracement of the wide appreciating range from 21913.84 to 61788.45.  Following the pair's recent appreciation from multi-month lows around the 25338.53 area to the 31418.35 area, traders are eyeing potential short-term technical support around the 29095, 28378, 27661, 26773, and 26639 levels.

Bitcoin, according to one well-followed expert, is on the verge of making a major move now that it has breached a critical psychological support level of $30,000. When individuals talk about the price of Bitcoin, they're referring to the current market price of the cryptocurrency. Since Bitcoin is a totally speculative asset, this price is …

There was a time just a few weeks ago when investors were frustrated with Bitcoin [BTC] for not being able to stay above $45,000. However, at press time, most investors were relieved that the king coin was somehow over $30k as it traded at the price of $30,424.97, after increasing by 0.41% in the past

After facing a backlash from the Bitcoin (BTC) community over comments to the Financial Times that Bitcoin is “not a payments network,” Sam Bankman-Fried, the billionaire CEO of crypto exchange FTX, now hints that his exchange may implement Bitcoin Lightning Network payments.

BTC moved away from Monday's lows to surge above $30,000 on Tuesday, as crypto bulls pushed prices higher. ETH continues to trade above $2,000, with prices rising by as much as 4% during today's trading session. Bitcoin Following a stint below $30,000 to start the week, BTC was trading above this level as bulls made

Sam Bankman-Fried, the Billionaire founder and CEO of crypto exchange FTX, believes that Bitcoin has no future as a payment network. Sam Bankman-Fried Thinks Bitcoin Isn't A Payment Network He attacked the proof-of-work algorithm's high energy consumption, arguing it couldn't handle millions of transactions per second.

The Luna Foundation Guard, which is in charge of maintaining the peg of UST, the Terra ecosystem's stablecoin, has disclosed how it used the available Bitcoin reserve prior to the Terra ecosystem's latest catastrophe. To try to keep the value of UST stable, the group sold some of the bitcoins it possessed immediately and exchanged …

Bitcoin mining survived the ban in China as the contribution to the network from September 2021 to January this year has been second only to the one of the United States so let's read more today in our latest Bitcoin news. China is contributing a huge chunk of the world's BTC mining operations despite the