Bitcoin
Bitcoin Price Tilts Higher Amid Uptick in CB Consumer Confidence

Bitcoin price has been in the green for two consecutive days, recovering from its slight slump on Monday. The coin has increased slightly in the past 24 hours, while its year-to-date price increased by 71.28%. Bitcoin’s total market cap has climbed 5.86% in the past 24 hours to $552 billion, while the total volume of the coin traded rose by 10.35%.
Fundamentals
Bitcoin price has been recovering for the past two days from its slight decline on Monday. The largest cryptocurrency by market cap slipped on Monday after the Commodity Futures and Trading Commission (CFTC) sued Binance for allegedly violating trading rules. In a court filing, Binance, the largest crypto exchange platform, was said to have violated eight provisions of a commodities trading law.
The lawsuit which was filed by the CFTC earlier on Monday in a federal court in Chicago has the potential to upend the operations of the crypto exchange platform. The lawsuit saw the price of Bitcoin drop 3% to $26,508, while the Ethereum price fell 3.5% to $1,704.56. Crypto exposed equities were also affected as Coinbase and MicroStrategy fell 10% each.
Even so, the largest digital asset is trading higher as Bitcoin’s net exchange flows jump to their highest level in 10 months. Data by Glassnode shows that the net exchange flows ticked higher by nearly 4,180 BTC, recording the largest net increase since the collapse of LUNA in May 2022.
The crypto market was in the green on Wednesday as investors digest the latest CB Consumer Confidence reading. The Conference Board Consumer Confidence Index increased slightly in March to 104.2, up from 103.4 in February. The Expectations Index- based on Customers’ short-term outlook for income, business, and labor market conditions inched higher to 73. However, the Expectations Index has been below 80 since February 2020, the level which often signals a recession within the next year.
At the time of writing, the global crypto market cap was at $1.19 trillion, a 5% increase over the last day. The total crypto market volume had also increased by 7.35%, while Bitcoin’s dominance inched slightly higher to 46.29%.
Bitcoin Price Analysis
Bitcoin price has staged a strong recovery this month, climbing more than 43% from its lowest level in March. On the daily chart, BTC is moving above the 25-week and 50-week moving averages, as well as the 50-day and 200-day exponential moving averages. Its Relative Strength Index (RSI) has moved higher and is currently slightly below the overbought zone. The Moving Average Convergence Divergence (MACD) indicator is bullish.
Therefore, it is evident that the bears are weakening, and the bulls have assumed control. As such, the BTC price is likely to continue moving higher as bulls eye the next resistance at $33,116. A flip below the important hurdle at $26,500 will invalidate the bullish thesis.
Bitcoin
Bitcoin Price: BTC Bulls Need to Sustain Current Momentum for Further Price Growth

Bitcoin price was trading higher on Tuesday, building on gains made in the previous trading session. At the time of writing, Bitcoin was trading 1.04% at $27,129.92 after clearing the crucial $27,000 level. The coin’s market cap has risen higher to $526 billion over the last day, while its total volume edged higher.
Macroeconomic Concerns
Data by Coinmarketcap shows that the global crypto market cap has increased by more than 1% over the last day to $1.13 trillion, while the total crypto volume jumped 20% over the same period. Bitcoin’s dominance also increased over the day.
Bitcoin’s price was gaining on Tuesday on the back of greenlight of some retail crypto trading by Hong Kong. Hong Kong’s Securities and Futures Commission announced on Monday that it would allow retail traders to trade certain crypto assets beginning June 1 on registered platforms. Markets widely anticipated the move amid Hong Kong’s broader efforts to become a global crypto hub.
Even so, Hong Kong’s new guidelines are in sharp contrast with China’s ban on crypto trading in 2021, as well as the continued US regulatory crackdown on cryptocurrencies since the fall of crypto exchange FTX. The Securities and Futures Commission of Hong Kong (SFC) has already licensed two digital asset platforms, Hash Blockchain and OSL.
Despite Hong Kong’s move to support crypto assets, concerns about the Federal Reserve’s monetary policy outlook have continued to weigh on markets…
Bitcoin
Bitcoin Price Retests Crucial Support at $26,500 as Regulatory Concerns Intensify

Bitcoin price was headed for its worst week since November 2022 on Friday as volatility, buoyed by low liquidity continued to outweigh crypto markets. Bitcoin has dropped below the crucial support level of $26,500, changing hands at this level. The asset’s price has dipped by more than 11% in the past week, while its total market cap inched lower to $516 billion.
Fundamentals
Bitcoin price has been on a downward trend for seven consecutive days amid congestion in the network’s system and the regulatory crackdown on cryptocurrencies. The digital coin has been struggling to gain bullish momentum for the past few days. Bitcoin is currently up by 60.54% in the year to date, but its prices have remained volatile.
The crypto market has been battling low liquidity, regulatory crackdown, and macroeconomic concerns. Data by Coinmarketcap shows that the global crypto market cap has slipped to $1.11 trillion, down from $1.27 trillion earlier in March. Bitcoin’s dominance has also inched lower in the past few days.
The regulatory crackdown on cryptocurrencies has ramped up since the fall of crypto exchange FTX. Ripple Labs has been in a lawsuit against the US Securities and Exchange Commission (SEC) over the last year over concerns about its native coin XRP. Additionally, SEC recently warned Coinbase over potential securities law violations. Binance, the largest cryptocurrency exchange platform, was recently accused of violating trading rules by the Commodity Futures and…
Bitcoin
Bitcoin Price is Changing Hands at $27,600 as Focus Shifts to US CPI Data

Bitcoin price has been on a downward trajectory for five consecutive days on the back of network congestion on the asset’s blockchain. The asset has been changing hands at $27,600 for the past few days. Bitcoin’s total market cap has crashed to $533 billion, while its total volume inched lower. BTC has dropped by nearly 9% in the past five days and 3.90% in the past week.
Fundamentals
Bitcoin price has been in a five-day freefall, dropping below the crucial level of $28,000 as the coin’s network works through congestion. Bitcoin, the largest cryptocurrency by market cap, as well as Ethereum, has been struggling to gain bullish momentum for the past few days. Ethereum, the largest altcoin by market cap, has dropped below the important $1.9K level.
Binance, the largest cryptocurrency exchange, moved over $4 billion worth of Bitcoin earlier this week to its crypto wallets. This high volume of transactions resulted in congestion on Bitcoin’s blockchain, prompting Binance to halt Bitcoin withdrawals on its platform twice in 24 hours. Additionally, the congestion also saw transaction fees jump to their highest level in six years. Binance announced that it would work to enable the Bitcoin Lightning Network which will help in such situations in the future.
Focus has now shifted to the US Consumer Price Index (CPI) data slated to be published later on Wednesday. The reading is expected to show that the monthly…
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