Bitcoin update: DMA100 may tame BTC bears

Bitcoin has been sliding since the beginning of the week.
A short-term recovery may be in store.

Tanya Abrosimova Independent Analyst

A failed attempted to settle above $4,000 ended in a sharp sell-off on Monday that leads the largest digital coin out there to the lowest level since February 27. BTC/USD is changing hands marginally below $3,700 at the time of writing with the bearish with no signs of the immediate recovery.

Looking technically, BTC/USD is well supported by DMA100 at $3,686. This is a strong barrier that may slow down the bearish trend for some time. The bears attempted to take it out of the way on Monday, but new buying orders located around that handle helped to engineer a recovery.

A sustainable move lower will open up the way towards the next critical support area $3,630-3,600 that includes DMA50. Below, we have very little in terms of support levels until psychological $3,500.

On the upside, BTC bulls should take the price back towards $3,800 to mitigate an immediate downside pressure. 1-hour SMA levels and also SMA50 (4-hour) located on the approach to the psychological handle may slow down the recovery. Though, a sustainable move above the said level will clear the way towards $3,870-$3,900 area strengthened by 38.2% Fibo retracement levels (monthly and weekly).

BTC/USD, 1D chart

Author

Tanya Abrosimova

Independent Analyst

Cardano: Under pressure as bearish derivatives cap recovery

Cardano remains under pressure, trading lower at $0.165 on Monday after mild losses in the previous week. Weakening derivatives metrics and subdued momentum indicators suggest that ADA's upside move remains limited, keeping downside risks in focus. Derivatives data for Cardano shows bearish sentiment among traders.

Bitcoin holds firm at $65,000 – AAVE and ONDO gain traction

The broader cryptocurrency market risk-off sentiment eases as the US and Iran extend the pause in missile strikes, while Oman holds peace talks. Bitcoin holds firm above $65,000 on Monday, while DeFi tokens, including Aave and Ondo, emerge as top performers over the last 24 hours.

Bitcoin extends winning streak, Ethereum clears key hurdle, XRP steadies

Bitcoin, Ethereum and Ripple begin the week on a firm footing after surging over 1%, 4% and 1%, respectively, in the previous week. BTC holds above key technical resistance after recording its fourth consecutive weekly gain.

World Foundation raises over $52M in token sale as World Network marks third anniversary

World Foundation, the nonprofit organization behind World Network, has raised $52.5 million through a strategic sale of its WLD token as the project marks three years since its mainnet launch. The funding round was led by Pantera Capital and included participation from Bain Capital Crypto, Eightco Holdings, Selini Capital, Susquehanna Crypto and other investors.

Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.