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Bitcoin analysts are gearing up for a break toward the $30,000 mark, but what will BTC price action offer in the coming days? 3568 Total views 22 Total shares Listen to article 0:00 Markets News Join us on social networksBitcoin (BTC) starts the second week of June in familiar territory, but a breakout is coming, investors say.

After a calm weekly close, BTC/USD is firmly in its established trading range, while under the hood, market participants are preparing for some dramatic shifts.

It has been a long time coming, and for seasoned traders, the signs are increasingly pointing to volatility making a comeback.

There is little by way of macroeconomic triggers due this week, making the focus shift elsewhere for cues as to what BTC price action might do in the short term.

The on-chain analysis provides other interesting insights, reinforcing the idea that for Bitcoin currently, the only boring part is the spot price.

Cointelegraph looks at the key factors at play as BTC/USD hovers around $27,000 for another week.Weekly close preserves key trend line

BTC/USD may not have inspired with its latest weekly close, but some popular traders are seeing new grounds for optimism.

Despite remaining firmly in its narrow trading range, as confirmed by Cointelegraph Markets Pro and TradingView,the chances of a breakout toward $30,000 are increasing.BTC/USD 1-day candle chart on Bitstamp. Source: TradingView

Feels like its a matter of time until Bitcoin finally breaks that 30k level once and for all, trader Jelle wrote in part of his latest analysis.

Jelle, like others, noted that the 200-week moving average (MA) a key support line remained intact.BTC/USD annotated chart. Source: Jelle/ Twitter

Also intact were various support structures on trader and analyst Rekt Capitals radar covering daily timeframes.

So far, so good, he summarized, about an exit higher, potentially invalidating a bearish head-and-shoulders structure from the previous weeks.

#BTC successfully retesting not just the top of the red downtrending channel but also the bottom of the red box

So far, so good$BTC #Crypto #bitcoin https://t.co/a0VCL61Qvm pic.twitter.com/V7SnIMlpJZ— Rekt Capital (@rektcapital) June 4, 2023

An additional tweet mentioned a successful retest of support in the offing.

BTC broke down from a head and shoulders pattern in May. But theres classic whipsaw action around the neckline, trading account Game of Trades nonetheless acknowledged. The pattern remains valid unless the price moves above the right shoulder.

An accompanying chart gave a potential downside target of just $24,000 for BTC/USD due to the head-and-shoulders pattern.

Others looked for less movement, such as trader Crypto Tony, who eyed $25,300 as a possible destination, subject to $28,350 staying unflipped as resistance.

$BTC / $USD – June / July plan

So right now we are consolidating following the drop from the 14th April high. I am looking for

– $25,300 target to look for longs
– Must remain below $28,350 for the downside target
– Combo corrective pattern

I will update daily as always pic.twitter.com/Q93mr4hjGH— Crypto Tony (@CryptoTony__) June 4, 2023 Macro lull comes as traders eye dollar rebound

In an unusual week of calm for traders, June 59 will see little by way of macroeconomic data coming out of the United States.

With the debt ceiling debacle left behind, the next potential volatility catalysts will come in the form of macro reports for May, such as the Consumer Price Index (CPI) print; however, these are not due for another week.

With that, attention is focusing on oil production cuts from Opec+ members as prices continue to fall despite existing reductions in output.U.S. Dollar Index 1-day candle chart. Source: TradingView

Meanwhile, a more direct potential headwind for Bitcoin and crypto comes in the form of the U.S. dollar.

The strength of the greenback has been forming a rebound since the start of May, and since then, the U.S. Dollar Index (DXY) traditionally inversely correlated with risk assets has gained around 3.5%.

Popular analyst Matthew Hyland noted increasing relative strength index (RSI) scores for DXY on weekly timeframes.

DXY Weekly opens: pic.twitter.com/nRIGyKm4tl— Matthew Hyland (@MatthewHyland_) June 4, 2023

Fellow trader Skew flagged 104.7%, the current June high, as a critical level to close above to form a bullish DXY trend.

Strong close & moving higher in early EU trading session, he commented on the day. If USD closes above $104.7, I would consider that as USD strength. So far this looks risk off but we see later on.

$DXY 1D
Strong close & moving higher in early EU trading session.

if USD closes above $104.7, I would consider that as USD strength.

So far this looks risk off but we see later on. https://t.co/F28baIv2JV pic.twitter.com/3SLDs5wtos— Skew ? (@52kskew) June 5, 2023

Over the weekend, meanwhile, TraderSZ described DXY as bullish until proven otherwise.Stocks buoy bullish crypto case

The debt ceiling resolution had an immediate cathartic effect on equities, but crypto markets have broadly failed to copy their enthusiasm.

This may still change, market participants argue, as the S&P 500 hits 10-month highs.

The US House has passed a key debt ceiling deal, launching the #SP500 to its highest price since August. Altcoins like $LTC, $LEO, and $FGC have jumped today, research firm Santiment wrote on June 2.With crypto lagging behind equities, there could be some $BTC catch-up time coming soon.Crypto vs. macro comparison. Source: Santiment/ Twitter

An accompanying chart also tracked a rebound for gold, this nonetheless short-lived, with a retracement setting in to mark the new week.

As Cointelegraph reported, others were also eyeing a positive correlation between Bitcoin and a resurgent S&P 500.Bitcoin hodlers comfortably in profit

Its easy to feel that the Bitcoin rally is over, but the facts say its not, popular technical analyst CryptoCon wrote in findings last month.

At the time, BTC/USD was almost $1,000 higher than current levels, but enthusiasm was just as lacking.

CryptoCon was analyzing the state of Bitcoin holder profitability, using the net unrealized profit/loss (NUPL) metric created in 2019 by entrepreneur and analyst Tuur Demeester and others.

For the past several months, NUPL has stayed practically stationary around a value of 0.25, indicating that overall, the BTC supply is modestly in the black.

NUPL measures the difference between unrealized profit and unrealized loss. It is calculated by gathering unspent transaction outputs (UTXOs) and comparing how much coins are worth now with when they last moved on-chain.

Any value above zero indicates that the network is in a state of net profit, while values below zero indicate a state of net loss. In general, the further NUPL deviates from zero, the closer the market trends towards tops and bottoms, analytics firm Glassnode explainedin an introduction.

While calm in recent months, NUPL has delivered an uptrend retest, which is cause for confidence, CryptoCon now says.

31k was not the end, hope youre ready! he concluded in an update this weekend.

An accompanying chart of NUPL showed its behavior versus investor sentiment at various stages over the past 10 years.

#Bitcoin has seen a lot of sideways price action recently, but during that time two very important things have happened on the NUPL:

– Retest of trend
– Support made on Hope / Fear sector

The next step, a leap to the belief/denial range

31k was not the end, hope you're ready! pic.twitter.com/yi1GMO1hri— CryptoCon (@CryptoCon_) June 4, 2023 Largest Bitcoin whales at center of dichotomy

On the topic of investor sentiment, the current view of the market varies heavily between classes of hodlers.

Related:Bitcoin big move due in July after March $30K push Latest analysis

As noted by Glassnode, most remain risk-off on Bitcoin; since May, selling has dominated despite the lack of capitulatory events.

The one excepion, it appears, is the largest class of Bitcoin whales.

Uploading a chart of accumulation versus distribution adjusted by cohort, Glassnode showed that wallets holding at least 10,000 BTC are adding to their positions while everyone else is reducing exposure.

An interesting dichotomy across the Bitcoin Accumulation Trend Score persists, as the largest of Whales (>10K BTC) continue to aggressively accumulate, whilst all other major cohorts experience heavy distribution, researchers commented.

The last accumulation phase from these mega whales was in late 2022, with BTC/USD beginning its 2023 rebound weeks later.

The whales then paused in mid-January, entering a distribution phase of their own before flipping back to accumulation in May.Bitcoin trend accumulation score by cohort chart. Source: Glassnode/ Twitter

Magazine:Home loans using crypto as collateral: Do the risks outweigh the reward?

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. # Bitcoin # Dollar # Bitcoin Price # Markets # Inflation

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Former president of Philippines Rodrigo Duterte appears in court accused of running death squads

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Former president of Philippines Rodrigo Duterte appears in court accused of running death squads

Rodrigo Duterte, the former president of the Philippines, has appeared at the International Criminal Court, accused of crimes against humanity.

The 79-year-old appeared in the Netherlands via video link on Friday.

His lawyer said he was suffering from “debilitating medical issues” but the judge in The Hague, Iulia Motoc, said the court doctor had found him to be “fully mentally aware and fit”.

She said he was allowed to appear remotely because he had taken a long flight.

Wearing a jacket and tie, Duterte spoke briefly to confirm his name and date of birth.

He was read his rights and formally informed of the charges. His supporters contest his arrest and say the court does not have jurisdiction.

If convicted, he faces life in prison.

His daughter Sara Duterte, the current vice president of the Philippines, said she was hoping to visit her father and have the hearing moved after meeting supporters outside the court.

Back home in the Philippine capital region, large screens were set up to allow families of suspects killed in the crackdowns to watch the proceedings.

Police protested over the killings when Mr Duterte was still in charge in 2021. Pic: AP
Image:
Police protested over the killings when Mr Duterte was still in charge in 2021. Pic: AP

Prosecutors accuse Duterte of forming and arming death squads said to have killed thousands of drug dealers and users during a brutal crackdown on illegal drugs.

Police say more than 6,200 people were killed in what they describe as shootouts while he was president from 2016 to 2022.

They claim he was an “indirect co-perpetrator” in multiple murders, allegedly overseeing killings between November 2011 and March 2019.

Before becoming president, Duterte was the mayor of the southern city of Davao.

According to the prosecution, he issued orders to police and other “hitmen” who formed the so-called “Davao Death Squads” or DDS.

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Why was Duterte arrested?

Estimates of the death toll during his six-year presidential term vary, from more than 6,000 reported by national police, to 30,000 claimed by human rights groups.

The warrant for his arrest said there were “reasonable grounds to believe that Mr Duterte bears criminal responsibility for the crime against humanity of murder”.

Duterte has said he takes full responsibility for the “war on drugs”.

He was arrested on Tuesday amid chaotic scenes in Manila, the capital of the Philippines, after returning from a visit to Hong Kong.

He told officers “you have to kill me to bring me to The Hague” during a 12-hour standoff, a Philippine police general said.

He also refused to have his fingerprints taken and threatened Police Major General Nicolas Torre with lawsuits before he was bundled onto a government-chartered jet at a Philippine air base and taken to The Hague, Maj Gen Torre told the Associated Press.

This breaking news story is being updated and more details will be published shortly.

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1,000 kW fast charging?!? BYD teases tech twice as fast as Tesla, debuting March 17

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1,000 kW fast charging?!? BYD teases tech twice as fast as Tesla, debuting March 17

Build Your Dreams (BYD) is gearing up for what has the makings of an epic launch event this coming Monday. The Chinese automaker announced several incoming debuts coming early next week, including a new “BYD Super e-Platform,” described as a “new benchmark in electric.” What’s most interesting, however, is that BYD is teasing a new ultra-fast EV charger with up to 1,000 kW of power – that’s twice as powerful as the current best on the market.

Automotive conglomerate BYD is at it again, continuously showcasing its innovation and market expansion as a clear force that will not be ignored by the global automotive segment. In addition to several EV marques, including its new ultra-performance Yangwang brand, BYD develops and implements EV battery technology and EV charging infrastructure.

Earlier this week, BYD shared that Yangwang will be launching its new U7 sedan at an event held at the former’s headquarters in Shenzen, China, later this month. Before then, however, BYD is preparing for a launch event for its own namesake as early as this Monday at HQ.

According to a Weibo post from earlier today, BYD’s launch event on the 17th promises the debut of a new high-performance EV platform, the start of pre-sales of two new models, and an unveiling of new EV charger technology capable of up to 1,000 kW. Eat your heart out, Tesla. You, too, Electrify America.

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1,000 kW charger
Source: BYD/Weibo

BYD to unveil 1,000 kW fast charging tech on 3/17

According to the Weibo Post from BYD, its next launch event will take place this coming Monday, March 17 at 7 PM Beijing time (7 AM EDT). The post was translated to English, but essentially promises the debut of its new “BYD Super e-Platform,” which will reinvent pure electric technology.

As reported by CnEVPost, an invitation to the event elaborated on the capabilities of the Super e-Platform, stating it will “use disruptive technology to completely solve the biggest headache in EV use.” That’s assumedly the charging process and how long even the fastest chargers still take in comparison to a gas station visit.

On that note, the BYD event also includes the debut of a new 1,000 kW EV fast charger. Per the post seen above:

1,000-kW flash charging that allows refueling and charging to have the same speed.

A 1,000 kW BYD fast charger would be a marvel and a potential game changer for EV adoption, doubling the power of current industry leaders like Tesla. The American automaker began rolling out its V4 Superchargers in North America in 2023, which are currently capable of 325 kW. However, Tesla has shared plans to boost those capabilities with 500 kW cabinets this year.

Even so, BYD is on the cusp of introducing EV charging capabilities that are double that prospective target, and it already has the technology out in the wild. CnEVPost also shared reports from several auto bloggers in China that captured images of what seems to be the new BYD charger, relaying that specifications listed on the pile support up to 1,000 volts and power of up to 1,000 kW.

BYD also intends to open pre-sales of its Han L and Tang L EVs at the same event. Because of this, there is speculation that both models will sit atop BYD’s Super e-Platform and support charging power of up to 1,000 kW.

We won’t know for sure until Monday, but this sounds like it will be an exciting one from BYD. Circle back to Electrek on Monday for a full recap.

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Check out Kia’s cool new ‘Unplugged Ground’ EV experience center [Images]

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Check out Kia's cool new 'Unplugged Ground' EV experience center [Images]

Kia opened its new “Unplugged Ground” on Friday, a unique EV experience. The complex has Kia’s latest EVs, including the EV4, on display for visitors to meet and interact with.

Kia opens new Unplugged Ground EV experience

The Kia Unplugged Ground first opened in 2021 following the launch of its first dedicated electric vehicle, the EV6. It’s located in

Since then, Kia has revamped the brand with a new logo, branding, and sleek new styling. It has also introduced an entirely new generation of mass-market EVs that are now rolling out globally.

Kia introduced its first electric sedan, the EV4, earlier this year during its 2025 EV Day event (see our event recap). We also got our first look at the PV5, Kia’s first electric van, and the EV2, its smallest, cheapest model set to launch next year.

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These will join the three-row EV9, and smaller EV3 and EV5 electric SUVs in Kia’s wide-ranging lineup. As part of its “EVs for all” strategy, prices will range from under $30,000 to upwards of $80,000.

To coincide with the launch of the EV4, Kia transformed the EV experience center. The upgraded facility opened in Seongsu-dong, Seoul, on Friday with a futuristic look and cool new interactive technology.

The EV experience center now displays Kia’s entire lineup, including the EV4, EV3, EV6, and EV9. Visitors can interact with the vehicles using Apple’s mixed reality headset Vision Pro, racing simulators, and more. They can even try out the EV9’s advanced driver assistance systems virtually.

Kia-EV4-orders-Korea
Kia EV4 sedan (Source: Hyundai Motor)

Kia’s upgraded EV brand experience comes after it opened EV4 orders earlier this week in Korea. The EV4 starts at 41.92 million won, or roughly $29,000.

Kia EV4 Trim Starting Price
Kia EV4 Standard Air 41.92 million won ($28,900)
Kia EV4 Standard Earth 46.69 million won ($32,000)
Kia EV4 Standard GT-Line 47.83 million won ($32,900)
Kia EV4 Long Range Air 46.29 million won ($31,800)
Kia EV4 Long Range Earth 51.04 million won ($35,000)
Kia EV4 Long Range GT-Line 51.04 million won ($35,900)
Kia EV4 prices in South Korea (Source: Hyundai Motor)

With a 58.3 kWh battery, the standard EV4 Air is rated with up to 237 miles (382 km) driving range. The long-range model, starting at 46.29 million won ($31,800), features an 81.4 kWh battery for up to 331 miles (533 km) range.

Later this year Kia will launch the electric sedan in the US, Europe, and other global markets. Maybe, we could get one of these futuristic EV experience centers, too?

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