DeFI News by Thebittimes.Com

While the stock market has taken a downward turn in recent weeks, shedding an immense portion of its gains under the influence of significant macro economic challenges, other assets are standing out for their positive price action and outlook, including Bitcoin (BTC) and gold. Specifically, according to the financial expert and CEO of cryptocurrency trading platform CoinRoutes, Dave Weisberger, the macro outlook for the maiden crypto asset and the precious metal is “overwhelmingly positive, as he told Scott Melker, a.k.a. Wolf of All Streets, in an interview streamed on October 30. Why BTC macro is positive As Weisberger explained, such a positive outlook is partially the result of the presently very unpredictable geopolitical atmosphere in many countries for many people that makes portable assets like cryptocurrencies more appealing to alternatives: “I think that the macro for Bitcoin and gold is about as overwhelmingly positive as you could possibly be. You have massive g...

Feelings over BTC price action diverge across short and long timeframes as the upcoming CPI and PPI prints unsettle the mood. Bitcoin (BTC) got busy testing $30,000 as new support at the April 11 Wall Street open after hitting new ten-month highs. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $30,000 surge decimates liquidity Data from Cointelegraph Markets Pro and TradingView showed BTC/USD coming down from an overnight peak near $30,500. The pair had spent most of the day bouncing from the $30,000 mark after finally passing it in a short squeeze weeks in the making. Major misgivings from some market participants accompanied the move, with fears centering on a potential correction to $25,000 or even lower. Takes became more optimistic on longer timeframes, however. The $30,000 push, for instance, cemented popular trader and analyst Rekt Capital’s conviction that Bitcoin had abandoned a bearish double top formation from Q1. “The signs for distortion of the BTC Double Top...