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BTC price performance goes sideways but Bitcoin bulls retain $30,000 as support after the weekly close. Bitcoin (BTC) circled $30,500 at the June 26 Wall Street open as bulls held newfound support. BTC/USD 1-hour chart. Source: TradingView Bitcoin ETF hype puts demands on U.S. session Data from Cointelegraph Markets Pro and TradingView showed BTC price action retaining $30,000 around the weekly close. The largest cryptocurrency began the week on a stable note as U.S. markets began trading, with observers hoping for a copycat move from the week prior. Then, the U.S. had provided the lion’s share of buyer interest, following multiple announcements of institutional product applications based on the Bitcoin spot price. “Last week, most action and buying pressure, happened during the US Stock Market Open Hours,” popular trader Daan Crypto Trades noted on the day. Fellow trader Skew agreed, calling the June 26 U.S. trading session “important.” $BTC Aggregate CVDs & Delta Spot buying l...

Bitcoin keeps the market guessing over how it will treat the 200-week moving average at $26,500. Bitcoin (BTC) cooled the volatility into the June 8 Wall Street open as market participants waited for signals BTC/USD 1-hour candle chart on Bitstamp with 200WMA. Source: TradingView BTC spot clings to 200-week moving average Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling a key long-term trend line near $26,500. After flash volatility surrounding industry news events, the pair returned to sideways trading after bouncing from three-month lows. Now, the 200-week moving average (WMA) formed a critical focus. “We are currently sitting right on the 200WMA,” trading suite Decen trader wrote in part of the day’s Analysis . Decen trader opted for a conservative view of short timeframes, warning over an increasing long/short ratio on exchanges and that the U.S. trading session may open with selling. The LTF bear case for #Bitcoin: The Long/Short ratio is continuing ...

Crypto traders expecting a price reversal could use this options strategy to get positioned in Bitcoin. Bitcoin’s price broke below its 55-day resistance at $27,000 on May 12, down 12.3% in 30 days. But more importantly, it decoupled from the S&P 500 Index, which is basically flat from 30 days ago and 15% below its all-time high. Bitcoin price in USD (right) vs. S&P 500 futures (left), 12-hour. Source: TradingView As the chart indicates, for some reason, Bitcoin (BTC) investors believe that the favorable macroeconomic trends for risk markets were overshadowed by the increasing risk perception of the cryptocurrency sector. Financial crisis could fuel Bitcoin’s price increase For starters, there’s the impending United States government debt ceiling crisis, which, according to U.S. Treasury Secretary Janet Yellen, could cause an “economic and financial catastrophe." The increased risk of default should, in theory, be beneficial for scarce assets, as investors seek shelter f...