BitcoinBSVIBC Group, NFT Tech, Faith Tribe to launch fashion-focused launchpad
Venhuizen, Netherlands, June 6, 2022 — Web3 and cryptocurrency incubators NFT Tech and International Blockchain Consulting (IBC) Group have partnered with the open-source fashion design platform Faith Tribe to launch Fashion DAO — a fashion-focused launchpad for fashion brands and creators looking to make a breakthrough in the Web3 arena. The launchpad lets fashion-focused companies tokenize and enter the nonfungible token (NFT) space to participate in a growing Web3 ecosystem and connect wit...
BitcoinBSVA brief history of Bitcoin crashes and bear markets: 2009–2022
Bitcoin (BTC) experienced one of its most brutal crashes ever in 2022, with the BTC price plummeting below $20,000 in June after peaking at $68,000 in 2021. June 2022 has become the worst month for Bitcoin since September 2011, as its monthly losses mounted to 40%. The cryptocurrency also posted its heaviest quarterly losses in 11 years. However, the current market sell-off doesn’t make Bitcoin crashes and bear markets exclusive to 2022. In fact, Bitcoin has survived its fair share of crypto ...
BitcoinBSVInnovation will drive NFT adoption despite mainstream presence: NFTGo founder
The presence of big players in the nonfungible tokens market might evangelize newbies, but they do not lead to mass adoption or innovation, claimed Tony Ling, co-founder of NFTGo in a conversation with Cointelegraph. Major developments, such as Adobe's acquisition of Figma, would potentially impact creators per the combination of both the companies' features. Adobe, for example, owns Behance, a creative showcase platform that allows users to connect crypto wallets and NFTs to their ...
BitcoinBSV
BitcoinBSVIBC Group, NFT Tech, Faith Tribe to launch fashion-focused launchpad
Venhuizen, Netherlands, June 6, 2022 — Web3 and cryptocurrency incubators NFT Tech and International Blockchain Consulting (IBC) Group have partnered with the open-source fashion design platform Faith Tribe to launch Fashion DAO — a fashion-focused launchpad for fashion brands and creators looking to make a breakthrough in the Web3 arena. The launchpad lets fashion-focused companies tokenize and enter the nonfungible token (NFT) space to participate in a growing Web3 ecosystem and connect wit...
BitcoinBSVA brief history of Bitcoin crashes and bear markets: 2009–2022
Bitcoin (BTC) experienced one of its most brutal crashes ever in 2022, with the BTC price plummeting below $20,000 in June after peaking at $68,000 in 2021. June 2022 has become the worst month for Bitcoin since September 2011, as its monthly losses mounted to 40%. The cryptocurrency also posted its heaviest quarterly losses in 11 years. However, the current market sell-off doesn’t make Bitcoin crashes and bear markets exclusive to 2022. In fact, Bitcoin has survived its fair share of crypto ...
BitcoinBSVInnovation will drive NFT adoption despite mainstream presence: NFTGo founder
The presence of big players in the nonfungible tokens market might evangelize newbies, but they do not lead to mass adoption or innovation, claimed Tony Ling, co-founder of NFTGo in a conversation with Cointelegraph. Major developments, such as Adobe's acquisition of Figma, would potentially impact creators per the combination of both the companies' features. Adobe, for example, owns Behance, a creative showcase platform that allows users to connect crypto wallets and NFTs to their ...
BitcoinBSV
Subscribe to BitcoinBSV
Subscribe to BitcoinBSV
<100 subscribers
<100 subscribers
Share Dialog
Share Dialog
Axie Infinity (AXS) price dropped sharply on June 1, suggesting that its supersonic gains in the last two days might have been a part of a bear market rally.
The AXS/USD pair soared 54% week-to-date to over $28 on May 31, its highest level in three weeks. But Axie Infinity price failed to hold the gains, correcting by more than 21% to $22 while raising the possibility of more downside to come.
AXS/USD daily price chart. Source: TradingView
Trading behavior witnessed in the last 24 hours supported the downside outlook, with AXS/USD trading volume spiking during the selloff on May 31.
Axie Infinity's continued exposure to Bitcoin (BTC) and traditional stock markets was also instrumental in pushing its prices lower on June 1.
Notably, AXS's correction in the said period coincided with Bitcoin's move lower from around $32,250 to below $31,500 and with U.S. stocks resuming their downward trajectory after the Memorial Day holiday close on May 30.
AXS/USD versus SPX versus BTC/USD daily price chart. Source: TradingView
Additionally, AXS's price correction began near a confluence of technical resistances, containing a support-turned-resistance aroun the $27-29 region and the 50-day exponential moving average (50-day EMA; the red wave in the chart below) around $29.
AXS/USD daily price chart. Source: TradingView
If the pullback continues, AXS risks retesting its previous support line near $18.40, down about 20% from today's price. Simultaneously, the persistent positive correlation with Bitcoin and stock markets could mean additional price declines below the $18.40-level.
"There's no V-shaped bottom here," argues Michael Antonelli, managing director and market strategist at Baird, noting that the factors that led to the decline across the risk assets in 2022— primarily the interest rate hikes—are going to stay the same in the coming quarters.
Related: Bitcoin’s recent gains have traders calling a bottom, but various metrics remain bearish
Meanwhile, independent market analyst PostyXBT believes that AXS must close above $40 to validate a long-term bullish rebound. Until then, the AXS/USD pair remains at risk of more downside to come.
"Play the relief bounces but don't overstay your welcome," PostyXBT told his 79,200 social media followers.
Axie Infinity (AXS) price dropped sharply on June 1, suggesting that its supersonic gains in the last two days might have been a part of a bear market rally.
The AXS/USD pair soared 54% week-to-date to over $28 on May 31, its highest level in three weeks. But Axie Infinity price failed to hold the gains, correcting by more than 21% to $22 while raising the possibility of more downside to come.
AXS/USD daily price chart. Source: TradingView
Trading behavior witnessed in the last 24 hours supported the downside outlook, with AXS/USD trading volume spiking during the selloff on May 31.
Axie Infinity's continued exposure to Bitcoin (BTC) and traditional stock markets was also instrumental in pushing its prices lower on June 1.
Notably, AXS's correction in the said period coincided with Bitcoin's move lower from around $32,250 to below $31,500 and with U.S. stocks resuming their downward trajectory after the Memorial Day holiday close on May 30.
AXS/USD versus SPX versus BTC/USD daily price chart. Source: TradingView
Additionally, AXS's price correction began near a confluence of technical resistances, containing a support-turned-resistance aroun the $27-29 region and the 50-day exponential moving average (50-day EMA; the red wave in the chart below) around $29.
AXS/USD daily price chart. Source: TradingView
If the pullback continues, AXS risks retesting its previous support line near $18.40, down about 20% from today's price. Simultaneously, the persistent positive correlation with Bitcoin and stock markets could mean additional price declines below the $18.40-level.
"There's no V-shaped bottom here," argues Michael Antonelli, managing director and market strategist at Baird, noting that the factors that led to the decline across the risk assets in 2022— primarily the interest rate hikes—are going to stay the same in the coming quarters.
Related: Bitcoin’s recent gains have traders calling a bottom, but various metrics remain bearish
Meanwhile, independent market analyst PostyXBT believes that AXS must close above $40 to validate a long-term bullish rebound. Until then, the AXS/USD pair remains at risk of more downside to come.
"Play the relief bounces but don't overstay your welcome," PostyXBT told his 79,200 social media followers.
No activity yet