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The Dow Jones Industrial Average has declined for eight consecutive weeks, the first such losing streak since 1923. On May 20, the S&P 500 briefly fell into bear market territory, indicating that traders continue to sell risky assets in fear of a recession. Due to its tight correlation with US equities
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The S&P 500 and the Nasdaq have declined for five consecutive weeks, indicating that traders continue to reduce exposure to risky assets. Bitcoin’s (BTC) close correlation with United States equity markets has resulted in its price remaining under pressure.Bitcoin has extended its decline during the weekend and is now on
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Bitcoin (BTC) and several altcoins are trading in a tight range during the weekend, suggesting that investors are undecided about the next directional move. Traders may be waiting for Wall Street to open before placing large directional bets because Bitcoin has been tightly correlated with the S&P 500 in the
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Monero (XMR) price dropped by nearly 10% three days after establishing a week-to-date high around $290 on April 24. Nonetheless, several technical indicators suggest that the XMR/USD pair is poised to resume its uptrend over the next few months.Falling wedge breakout underwayNotably, XMR's price broke out of its "falling wedge"
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Monero is a privacy-centric protocol that masks the wallet addresses of users making it difficult for others to trace and track transactions. This is unlike bitcoin (BTC) or other cryptocurrencies, where wallet addresses and transactional behavior can be analyzed to determine the identity of their users. Source
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Bitcoin, NEAR, FTT, ETC and XMR are attempting to rebound
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Privacy-focused cryptocurrency Monero (XMR) rallied by nearly 9.5% in the past week compared with the crypto market's decline of 8.5% in the same period. What's more, the XMR/USD pair has broken above a strong, multi-month resistance trendline, hinting at more upside ahead.XMR price action XMR's price was down by a modest
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Following a gain of over 25% on Friday, NEAR dropped by over 10% to start the weekend, while XMR rose to a four-month high. The move in NEAR comes as traders look to be taking profits from recent highs, and as market uncertainty remains high. Near Protocol (NEAR) After being Friday’s
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Over the last week, the United States and president Joe Biden’s administration tightened sanctions against Russia a great deal. The U.S. banned Russian energy imports, a number of other types of imported goods, and a series of harsh financial sanctions against Russia. In the midst of a restricted global economy,
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Crypto exchanges blocking known addresses might be spurring demand for privacy-oriented cryptocurrencies, one analyst said. Source
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