Can Bitcoin's [BTC] current ‘oversold' situation trigger a recovery past $30k

Bitcoin, the largest cryptocurrency suffered major limelight into extreme fear territory not seen since the COVID-19 crash. The worst trading day came on 12 May, when BTC slumped from just over $30,000 to its lowest price position since late December 2020 at $25,300.

Timeline of Bitcoin

Over the last ten days, the $30K demand zone, which was expected to be a strong support level for reversing any downtrend price movement, was broken to the downside. Now, it acts as a magnetic resistance level in the market.

The Luna Foundation recently released a statement citing the balances on their reserves as the platform's Bitcoin reserves made a huge noise of let. The thread documented how the platform disbursed millions of dollars worth of crypto and eventually failed to stabilize the destabilized assets.   The foundation clearly states the number of BTC and the …

The cryptocurrency sector was founded on both transparency and anonymity. Even Bitcoin's developer used a fictitious name, and the world may never know who was behind one of the most innovative financial inventions ever devised. However, there are many diamonds in the rough among the sea of unknown merchants, much as Satoshi's successes and efforts …

After creating a bullish pattern, the Bitcoin Dominance Rate (BTCD) has broken out from a nearly yearlong descending resistance line. The post Bitcoin Dominance Rate (BTCD) Bounces Sharply After Triple Bottom Pattern appeared first on BeInCrypto.

The whole crypto space was under a catastrophic drop after the Terra (LUNA) token bottomed 99% in just two days where the Blockchain's stablecoin UST depegged leading to the crypto crash. LUNA was created by Terraform Labs with algorithmic stablecoin TerraUSD (UST) in order to maintain its $1 peg. However, the blockchain's UST stablecoin bottomed …

Cryptocurrencies continued to decline on Monday, giving up the gains of deficiencies over the weekend, as regulators continued to patrol. Warnings of risks posed by cryptocurrencies have been reaffirmed by European officials. On Monday, Bitcoin fell 5% to around $29,700 in Asian trade, slipping alongside stocks because of rising interest rates and high inflation worries....

Due to the exponential rise of the bitcoin difficulty factor, frustrated bitcoin miners are storming the Ethereum network. According to the Cryptocurrency Mining Index, a large number of miners are shifting their hashing power to the Ethereum blockchain. According to blockchain.com, the current bitcoin difficulty factor is 29.8 trillion.

Following a volatile weekend of trading, cryptocurrency prices consolidated to start the week, with BTC close to its long-term floor. Overall, bitcoin was trading marginally below $30,000, with ETH hovering slightly above $2,000. Bitcoin BTC started the week trading below $30,000 following a volatile weekend of trading, which saw prices mainly consolidate. Following a rise

Bitcoin briefly recovered above the $30,000 level and its 100-hour simple moving average. The top crypto by market capitalization has had a rough past week as its price nosedived below the $25K level, causing panic across the crypto market.

The crypto lending platform has revealed plans to list its mining subsidiary on the stock market. The post Celsius announces plans for an IPO of its bitcoin mining subsidiary appeared first on The Block.