Bitcoin struggles below $30,000 as Curve (CRV) hack sends altcoins lower

- The cryptocurrency market opened the week in the red as Bitcoin continues to struggle below $30,000 while multiple tokens in the top 200 saw declines after Curve Finance , a top decentralized exchange for stablecoins, was hit with a $70 million hack, which negatively affected protocols like AAVE that are integrated with the DEX.

Data provided by TradingView shows that Bitcoin bulls made several attempts to push its price higher only to be rejected by bears at $29,600, resulting in a return to support at $29,200, with bears now looking to force the price lower.“Prices are still in a fledgling downtrend on the daily bar chart, albeit at higher price levels,” Kitco senior technical analyst Jim Wyckoff said. “Bulls and bears are on a level overall near-term technical playing field at present.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin Quantum (BTCQ): A deflationary spin on Bitcoin’s core functionalityDigital currencies have spearheaded an era of financial revolution. And leading the charge? Bitcoin is […]
Source: CryptoAmb - 🏆 22. / 68 Read more »

Bitcoin: Why HODLing is no longer the norm for long-term BTC investorsThe sharp drop in unmoved supply suggested that long-term holders were liquidating their BTC holdings, signaling a shift away from HODLing.
Source: CryptoAmb - 🏆 22. / 68 Read more »

How Bitcoin became the favorite of futures traders on this derivative exchangeOn CME Group, BTC's futures monthly trading volume closes July at its highest in the last year.
Source: CryptoAmb - 🏆 22. / 68 Read more »

Bitcoin: Should miner capitulation be a cause for concern?Bitcoin miners' capitulation was relatively low in the last 5 years. However, a declining price coupled with growing difficulty and hashrate could result in trouble for Bitcoin.
Source: CryptoAmb - 🏆 22. / 68 Read more »