cryptocurrencies

NFT Frenzy Shows Signs of Cooling but Don't Call It a Market Crash

NFT prices are falling, but it doesn't point to a market crash as investors eye long-term value.

Despite short-term volatility, bitcoin's uptrend remains intact. And some traders could be shifting to altcoins.

Volume has significantly slowed over the past two weeks, which is typical of a consolidation phase and could lead to sharp price moves.

Inflows to crypto funds jumped from a five-month low of $21 million the prior week.

Bitcoin is drawing the highest "kimchi premium" in three years, indicating retail frenzy in South Korea.

BTC continues to consolidate, although selling pressure remains limited to rising support levels on intraday charts.

Bitcoin's intraday rally follows a near 36% rise over the past month as traders look to institutional demand to fuel further upside.

The industry's latest leg up has been fueled by ether and other alternative currencies, with bitcoin's rally pausing this year.

The action was in ether on Friday as the second-biggest cryptocurrency's price jumped to a new all-time high.

Bitcoin mining revenue broke a new record in March, fueled by the BTC price rally.

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