Bitcoin

Analysis of Bitcoin, Ethereum, and Chainlink prices

BTC and ETH both reached new all-time highs this week, with Chainlink’s LINK looking to build on recent gains and could see a period of consolidation above $30. According to CoinGecko data, the price of Bitcoin has fallen by 3.9% and 4.2%, respectively. Chainlink (LINK), which is up 2.5% at the time of writing, is…

BTC and ETH both reached new all-time highs this week, with Chainlink’s LINK looking to build on recent gains and could see a period of consolidation above $30.

According to CoinGecko data, the price of Bitcoin has fallen by 3.9% and 4.2%, respectively. Chainlink (LINK), which is up 2.5% at the time of writing, is among a handful of altcoins in the top 20 by market cap to remain in the green after Thursday’s sharp drops for BTC and ETH.

BTC and ETH. LINK price analysis

The correction for BTC has seen it drop from its ATH of $67,277 and ETH from $4,361, both landmark price levels reached on 21 October 2021.

Bitcoin is trading around $63,450, while Ethereum bulls are battling downside pressure with the target being to stay above $4,000.

Looking at the BTC daily chart, we see the crypto has bounced off support at $62,197. To suggest that bulls are still in control, the RSI is resetting towards overbought territory. A strong bounce from here could take Bitcoin towards $70k and potentially $90k before the end of historically bullish Q4.

The key to Ethereum’s success is for bulls not to drop below the support level. The bullish outlook for ETH/USD suggests another attempt at a new ATH if bulls retake control above the $4,160 supply zone.

In this case, the $4,400 area is a legitimate target, with runs to $5k or higher likely within the coming days.

The candle, however, shows a bearish presence here and any dips could provide buy opportunities around the demand zone at $3,875 and 20 EMA line around $3,728.

ETH/USD daily chart. Source: TradingView

LINK/USD is changing hands around $29.56. Michael van de Poppe, crypto analyst, says that DeFi and Oracle tokens will outperform when the market gains the next upward momentum.

The analyst says the sector has lagged the top coins, with capital rotation likely to flip sentiment in the two sub-sectors.

LINK/USD daily charts Source: TradingView

LINK price has bounced off a major support line around $24. 70 and is currently above both the 20 EMA and 50 SMA lines. Bullish momentum is also indicated by the daily RSI. Moreover, increased buy-side volumes suggest demand in light of positive news from Associated Press about Chainlink oracles.

On the upside, LINK could break above $30. 00 and see gains towards $35. 00 (green line). On the flip side, key support lies around $26. 00 and $24.00.

Bitcoin

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Bitcoin demand growth is decelerating after a rally toward $112,000, with key indicators signaling a potential slowdown phase, according to a new Cryptoquant Institutional Insights report. Profit-Taking Dominates Futures Market Amid Bitcoin Slowdown Cryptoquant’s analysis reveals bitcoin spot demand continues expanding but at a sharply reduced pace…
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Bitcoin

Bitcoin Price Watch: Bulls Eye $108K as Momentum Builds Across Lower Timeframes

Bitcoin is trading at $105,971 to $106,032 over the last hour, with a market capitalization of $2.10 trillion and a 24-hour trading volume of $21.88 billion. During the past 24 hours, the price has fluctuated between $104,004 and $106,450, reflecting a narrow intraday range that coincides with ongoing technical indecision across broader timeframes…
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Bitcoin

XCN defies Bitcoin and Ethereum slump with 97% spike

Onyxcoin (XCN) has risen 97% in the past 24 hours as altcoins enjoy massive buying pressure. The XCN price bucks the trend that saw Bitcoin and Ethereum down after notable gains a day earlier. Tariffs and other market conditions weigh on investor sentiment. Onyxcoin (XCN) has defied a dip for Bitcoin, Ethereum, and top altcoins…

Onyxcoin (XCN) has risen 97% in the past 24 hours as altcoins enjoy massive buying pressure.
The XCN price bucks the trend that saw Bitcoin and Ethereum down after notable gains a day earlier.
Tariffs and other market conditions weigh on investor sentiment.

Onyxcoin (XCN) has defied a dip for Bitcoin, Ethereum, and top altcoins with an impressive 97% over the past 24 hours.

In a price rally that put it on top of the daily gainers’ list, XCN shot up to an intraday high of $0.017.

The performance bucks the downward pressure that has seen Bitcoin (BTC) and Ethereum (ETH) pare gains from a day ago with dips below $80k and $1.5k, respectively.

XCN price performance

The XCN token’s standout performance sees it outpace Flare, Kaspas, and Walrus, among other notable gainers.

According to data from CoinMarketCap, XCN is currently trading at $0.017, with its volume up 1,230%.

The token’s market, though tiny at $531 million, is up 97% and puts Onyxcoin in the top 100 by market cap.

XCN has flipped Floki and CORE, which currently rank 100th and 99th by market cap, respectively.

Onyxcoin’s massive spike comes despite a broader risk market downturn in the past 24 hours.

BTC, ETH, and other coins’ dip has seen the global cryptocurrency market cap drop by 3.9% to $2.52 trillion.

Volume is down 20% to about $127 billion as crypto mirrors losses on Wall Street.

Overall market outlook

Crypto and the stock market rose sharply on Wednesday after US President Donald Trump changed his tariffs stance.

His announcement of a 90-day pause sent risk assets skyrocketing, with Bitcoin’s price breaking to above $82k.

S&P 500 and the Dow Jones Industrial jumped, rising by historic single-day gains.

However, the S&P 500 and Dow opened lower on Thursday and looked to close lower with 3.2% and 2.4 %, respectively.

Dow was down more than 900 points.

On Thursday, Trump announced an additional 25% tariff on China, bringing this to 145%.

After excluding it from the 90-day pause, analysts say the trade war will continue to hurt optimism.

This looks to be the case as stocks sold off despite the latest inflation report that showed CPI dropped to 2.4% against an expected 2.6%.

While this sees many turn to the Federal Reserve for expectations of interest rate cuts, analysts are pointing to “sticky” prices and tariff impact for likely pressure on equities and crypto. Analysts point to a potential bull trap.

Peter Schiff said via a post on X:

“I’ve never seen such a mass selloff of US assets. The US dollar, bonds, and stocks are all getting killed. I can’t remember when the dollar lost 3.5% against the Swiss franc in one day. America’s ride on the global gravy train is about to come to a screeching halt. Buckle up.”