Bitcoin challenging $50k but momentum stalling [Video]

Steve O'Hare Signal Centre

After subdued trading ahead of Monday’s New York open, cryptocurrencies were subjected to further volatile trading.

Bitcoin initially dipped to below $47,000 as risk appetite deteriorated, but then reversed quickly and posted a strong net advance to above $49,000.

There was further evidence of net investment inflows into the sector which underpinned overall confidence.

Bitcoin posted further gains in Asia, but was unable to make a challenge on the $50,000 level and settled around $49,300.

Ether dipped to lows below $3,300 before a recovery to $3,400 and consolidation below this level on Tuesday.

Author

Steve O'Hare

Signal Centre

Steve has over 30 years of trading experience in Commodity, Equity and Fixed Income markets, in both research and trading.

XRP extends recovery as on-chain activity grows

Ripple (XRP) ticks up and trades around $1.13 at the time of writing on Tuesday. This rebound aligns with a broader recovery in the cryptocurrency market, attributed to reports that mediators between the United States (US) and Iran are seeking a 10-day cessation of strikes to find a way back to the signed Memorandum of Understanding (MoU).

Ethereum Price Forecast: ETH continues July uptrend with 20% rise after triggering buy signal

Ethereum (ETH) has gained 3% on Tuesday, extending its July gains above 20% after key on-chain indicators highlighted a resumption of buying activity. The strong performance so far in July comes a few days after ETH triggered the Market Value to Realized Value (MVRV) Buy signal. ETH has been up by roughly 22% since the signal.

Chainlink becomes top 20 best performer, 3 reasons behind the move

Chainlink (LINK) has become the best-performing asset in the top 20 this week, leading every other major cryptocurrency. The cryptocurrency jumped 10.18% to $8.71, its highest level since early June. Three major factors explain the double-digit rise over the past week.

Crypto Today: Bitcoin, Ethereum, XRP extend rebound amid returning institutional capital inflows

Cryptocurrency prices extend a broad recovery, led by Bitcoin (BTC), trading above $66,000 at the time of writing on Tuesday. Ethereum (ETH) remains bullish above $1,940, after logging four straight days of gains. Meanwhile, Ripple (XRP) hovers around $1.13, building on the reclaimed $1.10 critical level.

Bitcoin’s potential recovery in the second half hinges on these 4 catalysts

Bitcoin (BTC) has fallen over 34% in the first half of this year as the King Crypto failed to capitalize on a good semester for risk assets despite the woes from the Iran war.