Argentina’s stablecoin market is one of the largest in the world in terms of share of stablecoin transactions, beating the global average by 17%.
Ethereum price showed strength in September, but data suggests holding above $2,600 will be a challenge.
According to veteran trader Peter Brandt, the United States dollar has lost over 90% of its value since the 1950s due to inflation.
Prior to this report, the Fed was widely expected to trim its benchmark lending rate by 25 basis points at its policy meeting next week.
A stock market recovery, investors' anticipation of upcoming US inflation data and risks to the US dollar dominance are fuelling Bitcoin’s recent price gains.
The report claimed, a cash treasury “supplemented with a 3% allocation to Bitcoin” would have shielded companies from inflation since 2020.
The report claimed, a cash treasury “supplemented with a 3% allocation to Bitcoin” would have shielded companies from inflation since 2020.
Bitcoin remains below $60,000 and is falling. While there is optimism that bulls will flow back and reclaim key resistance levels in the coming days, one analyst on X is bearish. Bitcoin Must Clear This Level For Bulls To Take Over In a post on X, the analyst said the short-term trend will favor sellers […]
Crypto single-issue voters back Trump in pursuit of deregulating the US crypto industry and probably boosting their wallets, but do they grasp the broader economic policies at stake?
CoinShares expects that crypto investment products will become “increasingly sensitive” to interest rate expectations in September.
Bitcoin bulls charge into key BTC price resistance as the US Federal Reserve gives a clear signal regarding interest rate cuts.
Fear of a global economic recession continues to drive investors away from risk-on assets like Bitcoin.
Bitcoin and most crypto assets have been printing higher highs since the failed assassination attempt on Donald Trump. Looking to take over from Joseph Biden, Trump is pro-crypto and even graced the Bitcoin Conference in Nashville, where he delivered a speech. BTC Inching Higher On Donald Trump’s Endorsement With rising odds that Trump will clinch […]
BTC price performance offers little inspiration through the latest U.S. macro data, but concern is brewing among Bitcoin analysts over $60,000 support.
Stubbornly high inflation readings in the past months curbed rate cut expectations weighing on asset prices.
Traders are seemingly going risk-off ahead of a U.S. CPI print and a Fed monetary policy meeting, with Bitcoin falling to a weekly low.
Bitcoin prices are hovering near $70,000, bouncing from a critical dynamic support line, evident in the daily chart. Even though bulls have yet to breach $72,000 and break above March 2024 highs, traders are optimistic about what lies ahead. Bitcoin Bulls In Charge: Analyst Targets $85,000 Taking to X, one analyst believes the world’s most valuable coin is preparing for a decisive breakout above the local resistance levels and all-time highs at around $74,000. In a post, the analyst notes that Bitcoin has been consolidating, moving sideways and even lower for the past three months since mid-March. Related Reading: Crypto Analyst Predicts Massive Solana Price Crash Using Elliott Waves If buyers succeed, the near 100-day consolidation could set the base for prices to spike, ushering a “next leg higher” that would likely take BTC to $85,000. Still, even amid the optimism, traders should be cautious. Technically, the upside momentum has been fizzling. Even with gains on June 3, buyers’ failure to confirm the gains of May 20 is slowing down the uptrend. So far, the $72,000 level on the upper hand must be conquered for any hopes of further gains. On the lower end, support lies at $66,000. Even so, the dynamic 20-day moving average is emerging as a worthy support. Any breakout in either direction, most preferably in alignment with Q1 2024 gains, would be fundamentally driven. Inflation, Spot BTC ETF Inflows Fanning Demand Looking at fundamental data streaming from the United States, the stage is being set for optimistic buyers. Cooling inflation and the uptick in M2 money supply could hint that buyers are getting ready. The United States Federal Reserve has closely monitored inflation, among other metrics. With inflation dropping, the Fed may decide to slash interest rates, fueling a bull run like it did in 2021. Related Reading: Bitcoin Gets Massive $500,000 Price Tag From Billionaire, Here’s Why Other key drivers would include the encouraging flow into spot Bitcoin ETFs. As BTC soared to register March 2024 highs, inflow spiked, driven chiefly by institutional demand. After prices broke higher on May 20, inflows have picked up momentum. On June 3, Lookonchain data revealed that spot BTC ETF issuers in the United States added 2,413 BTC. Grayscale’s GBTC reduced just 12 BTC. Launching the Monochrome Bitcoin ETF (IBTC) in Australia and a similar product in Hong Kong and globally will only increase the demand for BTC. The newly launched IBTC spot ETF in Australia will directly hold BTC, which will be under the custody of Coinbase. Feature image from DALLE, chart from TradingView
Sluggish U.S. retail sales and softer inflation reports have opened the way for the next leg up in the crypto rally, Swissblock said.
Polkadot developer Kian Paimani has proposed a flexible inflation upgrade for the network to address the issues tied to the blockchain’s inflation logic. According to the proposal’s GitHub document, the Polkadot relay chain’s current state presents various challenges, including high inflation rates. These stem from outdated infrastructure and parachain slots’ ineffective influence on inflation. Additionally, […]
The post Polkadot developer proposes inflation upgrade to enhance transparency appeared first on CryptoSlate.
Some analysts were frightened by the recent drop in Bitcoin prices. Though the coin is showing signs of strength, multiple leveraged longs were liquidated early this week. In a post on X, one analyst thinks Bitcoin might have just found support, bottoming up after the contraction this week, pushing it lower from the multi-week range established in mid-March through to the better part of April. Bitcoin Retracement Is Deeper And Took Longer: Bottom In? Expressing confidence, the analyst cited a historical pattern. Based on a price action assessment in the weekly chart, the analyst notes that whenever Bitcoin posts a deep retracement, there is usually a higher probability of the coin bottoming up and shaking off weakness. Related Reading: Bitcoin Update: $120 Million Futures Liquidated As Price Takes A Beating At the same time, prices tend to recover after a retracement that takes longer than expected. Building on their historical pattern observation, the analyst applied it to the current BTC situation. The trader said up to the current level, the retracement from an all-time high is deeper and also took longer than usual, spanning several weeks. As a result, the analyst projected a high likelihood that Bitcoin prices might have found a bottom. While confidence abounds, it is still challenging to pick bottoms. Bitcoin and crypto assets are volatile, with prices moving quickly in either direction. At spot rates, Bitcoin is trading above $60,000, reversing losses of May 1. Even though this might cement the analyst’s position, BTC remains within a bear breakout formation, defined by the wide-ranging, high-volume bear bar of April 30. Moreover, the coin is still boxed away from the April trade range, suggesting that weakness remains. Should there be a conclusive close above $62,000, the trend will likely shift in favor of bulls, reversing the losses of April 30. Related Reading: Why This Crypto Bull Run Might Not Live Up To The Past: Analyst Before then, aggressive traders might be unloading at higher prices, aligning with the current bearish formation. Market Forces Will Shape BTC Prices Despite the bearish outlook, most analysts are bullish, expecting a sharp price recovery. One of them took to X, suggesting that buyers will likely take charge if prices recover from spot rates and return to the horizontal range of March to April. The pace and direction at which prices move going forward lean on market factors. So far, spot Bitcoin exchange-traded fund (ETF) issuers are decreasing their holdings. At the same time, the United States Federal Reserve is tracking inflation and other metrics as they tune monetary policy. If inflation drops, the USD will likely strengthen, heaping more pressure on the world’s most valuable crypto. Feature image from Shutterstock, chart from TradingView
Willy Woo, an on-chain analyst, took to X on April 29, raising concerns about the fate of retail Bitcoin investors if the world, especially the United States, plunges into a recession. Woo, referencing historical events, argues that while large Bitcoin holders, or “whales,” are likely to weather the storm since they control private keys of their coins, […]
Increasing concerns about sticky inflation hit risk assets across all markets including cryptos.
The 2022-2023 period saw several bad actors wiped from the cryptocurrency industry, none bigger than FTX's Sam Bankman-Fried.
Reduced leverage use in Bitcoin futures greatly reduces the odds of cascading liquidations in the case of a BTC price pullback.
Grayscale says recent inflation data could be a short-term negative for crypto, but persistent inflation will ultimately foster a supportive environment for crypto.
Major U.S. equity indices closed the day lower as faster CPI reading for March, will BTC was up 1%.
Stubbornly high inflation has shattered Wall Street expectations for a long series of rate cuts in 2024.
Gold has outperformed after the Federal Reserve expressed a cautious stance on the pace of future interest-rate cuts, the report said.
The International Monetary Fund (IMF) also recommended Pakistan introduce stricter laws on collecting capital gains from real estate title transfers.
Some suggest a waning ETF narrative and economic data from the United States may have sparked the sudden crypto sell-off.