In this week’s edition of The Market Report, resident Cointelegraph experts discuss what factors led to the collapse of the bear market rally.
In this week’s market report, regular Cointelegraph experts discuss some of the key factors that contributed to the collapse of this bear market rally.
To start this week, we broke the latest news in the markets
Is Bitcoin (BTC) Losing $21,000 Despite Getting Out of Miner Capitulation? Five things to know about Bitcoin this week. Miners are a glimmer of hope in the barren bitcoin landscape ahead of a key Federal Reserve event at Jackson Hole this week. After falling below $21,000 over the weekend, the largest cryptocurrency is consolidating about 10% lower than a week ago, and fear is clearly visible in the crypto markets. What will September bring in terms of inflation, price volatility and other macroeconomic factors as August approaches?
The data shows that Bitcoin and altcoins are at risk of falling 20% to new yearly lows. The total market capitalization of cryptocurrencies has fallen to the support level of $1 trillion, and weak demand for stablecoins and an almost non-existent funding rate reflect the negative sentiment of traders. Will crypto investors become more bearish? Are we on track to retest yearly lows?
Cryptocurrencies are reacting to Jackson Hole, the Fed’s plans to raise rates and the weakening of the bear market. The price action of bitcoin, altcoins and equities reflects investor concerns about the Fed’s plans to raise rates, slow down the bear market rally and this week’s Jackson Hole economic symposium. Are fears about future Fed rate hikes making investors nervous? Is this macro uncertainty keeping institutional investors away from the crypto markets?
Bitcoin whales attack sellers at $22.3k as the euro falls below parity with the US dollar. Despite the geopolitical uncertainty in the eurozone, bitcoin is struggling to return to higher levels. However, the weekend lows kept the July lows. Could this mean that the bear market rally could be back? What happens if bitcoin rises above the critical 200-week moving average (WMA)?
What follows is a new segment called “Quick Crypto Tips” which aims to provide newcomers to the crypto industry with quick and easy tips to get the most out of their experience. This week’s tip: Be careful with exchange sites.
Market expert Marcel Pechman then takes a close look at the Bitcoin and Ether (ETH) markets. Are current market conditions bullish or bearish? What are the prospects for the coming months? Pechman is here to break it. The experts are also reviewing some market news to keep you up to date with the latest information on the two major cryptocurrencies.
Last but not least, we have information from Cointelegraph Markets Pro, a platform for crypto traders who want to get ahead of the market. Analysts are using Cointelegraph Markets Pro to identify two altcoins that have caught the eye this week: DeXe’s DEXE and DIGG’s DIGG.
Do you have a question about a coin or a topic not covered here? Do not worry. Join the YouTube chat and ask your questions there. The person with the most interesting comment or question will receive a $50 gift certificate.
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