In this week’s “The Market Report”, Cointelegraph resident experts discuss some of the major factors that contributed to the collapse of this bear market rally.
To kick things off, this week we analyzed the latest market news
Will Bitcoin (BTC) Lose $ 21,000 Despite Miners’ Exit? Five things to know about Bitcoin this week. Miners are a glimmer of hope in a barren Bitcoin landscape this week ahead of a key Federal Reserve event in Jackson Hole. After dropping below $ 21,000 over the weekend, the largest cryptocurrency is consolidating around 10% less than it was a week ago, and fear in the cryptocurrency markets is clearly visible. As the end of August approaches, what will September bring in terms of inflation, price volatility and other macro triggers?
Data shows that Bitcoin and altcoins are in danger of a 20% drop to new annual lows. Total cryptocurrency market cap has fallen to support of $ 1 trillion, and weak demand for stablecoins and a largely absent funding rate reflect negative sentiment from traders. Will cryptocurrency investor sentiment shift towards a more bearish bias? Are we on track to retest annual lows?
Cryptocurrencies react to Jackson Hole, Fed rate hike plans and weakening bear market rally. The price action in Bitcoin, altcoins and stocks reflects investor anxiety over the Fed’s rate hike plans, a weakening of the bear market rally and this week’s Jackson Hole economic symposium. Does fear of future Federal Reserve interest rate hikes make investors nervous? Does this macro uncertainty keep institutional investors away from cryptocurrency markets?
Bitcoin whales attack sellers at $ 22.3,000 as the euro falls below par with the USD. Bitcoin struggles to return to higher levels despite the geopolitical uncertainty affecting the eurozone. The weekend lows, however, preserved the July lows. Could this mean that the bear market rally could make a comeback? What happens if Bitcoin surpasses the 200-week critical moving average (WMA)?
Next is a new segment called “Quick Crypto Tips”, which aims to provide newcomers to the cryptocurrency industry with quick and easy tips to get the most out of their experience. This week’s tip: be wary of exchanges.
Market expert Marcel Pechman then carefully examines the Bitcoin and Ether (ETH) markets. Are the current market conditions bullish or bearish? What are the prospects for the next few months? Pechman is here to break it down. Experts also review some market news to update you on the latest news regarding the top two cryptocurrencies.
Finally, we have information from Cointelegraph Markets Pro, a platform for cryptocurrency traders who want to be one step ahead of the market. Analysts use Cointelegraph Markets Pro to identify two altcoins that stood out this week: DeXe’s DEXE and DIGG’s DIGG.
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