NEWS: Celsius has now distributed more than $2.53 billion in cryptocurrencies and cash to its creditors, approximately 93% of the eligible value — according to its bankruptcy plan administrator.#CryptoMarketMoves
NEWS: Coinbase layer-2 network Base has topped 1 million daily active addresses amid a massive surge in the number of new “basenames” registered on the blockchain.#coinbase? $BTC
Bitcoin was rejected from the $65,000 resistance level, and the price dropped to the sub $62,000 area. We may see some sideways movement. The support and resistance levels remain the same$BTC
The price is currently trading within a downtrend channel and has been rejected from the local resistance area. We might see another test of the resistance area in the coming days. You can consider opening a small long position at the support area with a tight stop loss.
NEWS: The Bitcoin price increased 8% amid BTC investment products seeing $543 million in inflows last week.
Cryptocurrency investors have been increasingly purchasing Bitcoin-related exchange-traded products (ETP) amid concerns over potentially looming interest rate cuts in September.
The price has reclaimed a key level and is now retesting it. If you missed out on buying MATIC when it dipped, you could consider opening a small long position here with a tight stop loss. We might see a bounce from this point towards the next resistance area.
NEWS: The developers of prominent Telegram-based crypto games like Hamster Kombat and Notcoin have put out messages and in-game content protesting the arrest of Pavel Durov.
$BTC Bitcoin is trading sideways near the resistance area, with the price not breaking above $65,000. If it breaks above $65,000, it will likely move towards the $69,000-$70,000 resistance area. However, if there is a rejection from this level, the price could drop back to below $62,000
Bitcoin is currently consolidating within a descending broadening wedge pattern with strong volume. It has recently broken through the Ichimoku Cloud resistance barrier and the 100-day moving average, both of which are now acting as support below the current price action.
A successful retest of these levels above the 100MA and Ichimoku Cloud would reinforce the bullish sentiment for BTC. Moreover, a solid breakout from the pattern could trigger another bullish rally in the crypto market$BTC