Bears Return To Crypto Markets For Some Action – Bitcoin News Market Update

On April 25th, digital assets are seeing volatile price declines in cryptocurrency markets around the world today. In the past 24 hours, the cryptocurrency’s total market cap has lost more than $ 30 billion since our last market update. Bitcoin Core (BTC) market prices averaged $ 8,920 right now, having dropped into the $ 8,700 territories today. Bitcoin Cash (BCH) market value has also fallen from its $ 1,550 high and is currently hovering around the $ 1,270 zone.

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Bears Claw BTC prices below the $ 9K zone

Bears have managed to break into the digital asset markets as many feed new losses today. BTC / USD prices have seen a 24-hour decline of around 4.19 percent as prices fell below the $ 9,000 zone. The trading volume for the BTC markets is still very stable and there is a lot to do with $ 11.9 billion trading in the past 24 hours. The five largest exchanges that trade the most BTC include Binance, Bitfinex, Okex, Huobi, and Bitflyer. The Japanese yen now captures 49 percent of today’s BTC trading. This is followed by the USD (26%), Tether (USDT, 14%), the Euro (4%) and the South Korean won (3.3%). The euro jumped above the won as the currency now ranks fifth in the world.

BTC / USD technical indicators

The charts show that the BTC bulls encountered severe resistance after briefly touching $ 9,755 during yesterday’s trading sessions. Although there was a dip, the two Simple Moving Averages (SMA) in the 4-hour show, the 100 SMA is still above the longer-term 200 SMA. This suggests that the downturn may be short-lived and that the path to resistance is up. The MACd is falling south as the Relative Strength (RSI) levels have trailed, showing oversold conditions. The order books on the BTC / USD side suggest that the bulls will have to break resistance above the $ 9,200 region again to make better progress. There will also be another pit stop around the $ 9,700 mark if they make it that far. On the back, there are strong buy walls between where we are now and $ 8,200.

Markets Update: Bears are returning to the crypto markets for some actionBTC / USD prices are hovering around $ 8,920.

Bitcoin Cash Markets daily earnings are down 13% but are still up 49% over the past week

The bear market action has also had an impact on BCH markets for the past 24 hours. At the moment, BCH markets are down 13.6 percent today but are still up 49 percent over the past seven days. Bitcoin’s cash volume is still pretty good with a daily trading volume of nearly $ 2 billion. The five largest exchanges that trade the most Bitcoin cash today include Okex, Bitfinex, Huobi, Upbit, and GDAX. The main currency that is exchanged for BCH today is BTC with 33.1 percent. This is followed by the USD (30%), Tether (USDT, 20%), the South Korean won (10.5%) and the euro (2%). Ethereum pairs with BCH account for 1.2 percent of today’s trading activity.

Markets Update: Bears are returning to the crypto markets for some action

BCH / USD technical indicators

The BCH / USD charts show that bitcoin cash bulls have also encountered stiff resistance, but hours ahead of BTC. Both the BCH and BTC markets showed some uncorrelated activity between both markets. Still, just like the BTC charts, the 4-hour BCH / USD SMAs have a nice gap between the 100 and 200 SMA trend lines. This suggests that unless the BCH bulls get too exhausted, the path to resistance should be up as well. MACd and RSI levels are also moving south, showing that the market looks oversold and is likely to see some improvement. The order books show BCH bulls are facing tough resistance to break the $ 1,300 region to the $ 1,375 area. On the flip side, if the bears manage to push themselves back tirelessly, between $ 1,250 and $ 1,150, the pricing bases are solid.

Markets Update: Bears are returning to the crypto markets for some actionBCH / USD prices are hovering around $ 1,270.

Conclusion: optimism remains

The bear market could very well be a “bear trap” in which panicked investors are tempted to sell at lower prices. Most traders on the Telegram and Reddit social forums are optimistic about the last two weeks of the upturn. So far, sentiment has remained positive even during the last 24-hour downturn. Some coins are still up, well over 40-50 percent if you look at the past thirty days, and the rapid decline was to be expected.

Where do you see the price of BCH, BTC and other digital assets from here? Let us know in the comments below.

Disclaimer: Pricing articles and market updates are for informational purposes only and should not be viewed as trading advice. Neither nor is the author responsible for any loss or gain, as the ultimate decision to place a trade is made by the reader. Always remember that only those in possession of the private keys have control over the “money”.

Images via Shutterstock, Trading View and Coinmarketcap.

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BCH, Bears, Bitcoin Cash, Bitcoin Core, BTC, Bulls, Buy Walls, Buyers, Exchanges, MacD, Markets, N-Markets and Prices, Optimism, Order Books, Price, Resistance, RSI, Sell Walls, Sellers, SMA, Technical Indicators , Trade, USD, value, volume

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