Market Wrap: Altcoins Underperform as Bearish Sentiment Rises
Analysts expect price bounces to remain short term.
Bitcoin Stuck Below $34K Resistance, Support at $20K-$25K
Short-term price action is stabilizing but expect a rise in volatility.
Bitcoin Set to Record 10-Week Losing Streak
Bitcoin (BTC) is on track to record 10 consecutive weeks of losses for the first time in its history. Quantfury CEO Ali Pourdad dicusses the potential factors driving prices lower and where we’re headed next. Plus, reactions to the latest U.S. jobs report, Elon Musk seeking 10% job cuts at Tesla.
Tough Time for Miners: NY Passes Moratorium; Riot Blockchain Sells More Bitcoin
Miners are facing new headwinds amid the market downturn. Riot Blockchain (RIOT) is unloading more than half of the bitcoin it mined in May. Separately, the New York State Senate passed a bitcoin mining moratorium, barring new proof-of work (PoW) mining operations powered by carbon-based energy sources for two years.
Market Rout Prompts Analyst to Slash Bitcoin Miners’ Price Targets by Average of 65%
BTIG’s analyst remains positive on the longer-term outlook for the miners, however, and is sticking with his buy ratings for the stocks.
First Mover Americas: Bitcoin Slips as Report Shows Faster-Than-Expected US Jobs Growth
The latest moves in crypto markets in context for June 3, 2022.
First Mover Asia: Bitcoin Climbs Past $30K, but Bearish Sentiment Remains
Cryptos were largely in the green, although trading was choppy; India crypto investors receive some upbeat news.
Riot Blockchain Sells More Bitcoin, Trims Hashrate Guidance
It’s the miner’s third consecutive month of bitcoin sales.
