Does Bitcoins negative funding rate signal that bears are in total control?
Bitcoins perpetual funding rate shows lack of confidence from bulls, but options markets are displaying resilience.
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Bitcoins perpetual funding rate shows lack of confidence from bulls, but options markets are displaying resilience.
The higher-than-anticipated US core Consumer Price Index (CPI) reading was followed by a decline in Bitcoin (BTC) price as it tumbled almost 1.5% to $56,168 at press time. US Headline CPI Matches Forecast, Core CPI Exceeds It US headline CPI, the metric typically used to assess the inflation rate in the country, came in according [...]
The post Bitcoin Tumbles Following Higher Than Anticipated US Core Inflation Data appeared first on Crypto Breaking News.
BTC price weakness continues, taking BTC/USD below $56,000 despite the smallest year-on-year CPI increase since February 2021.
Glassnode data highlights a notable decline in trade activity over the last quarter, but traders are hopeful that Q4 will bring a sharp trend reversal.
The behavior of Bitcoins value during the 2023-2024 market cycle can be divided into four phases. Daan Crypto Trades highlighted in a recent post on X that these stages consist of two rallies and two consolidation periods with the second phase of each stage longer than the first. This pattern makes it easier to describe […]
Binance introduces a new 'Word of the Day' game focusing on CPI, allowing users to earn Binance Points and educational benefits. (Read More)
Fear of a global economic recession continues to drive investors away from risk-on assets like Bitcoin.
Bitcoin shrugs off notionally good news on US inflation with a BTC price plunge below $59,000.
Bitcoins correction appears to be losing steam, as indicated by price momentum divergence, the formation of a Doji candlestick and other bullish patterns.
The beginning of July has not been bullish for the Bitcoin and crypto market as earlier expected due to a number of events that have shaken the market. For example, the Spot Ethereum ETFs did not debut on July 2nd as expected, and the US and German governments have been reportedly selling large tranches of BTC. However, a turn in the tide could be coming for Bitcoin and crypto at large as the CPI data is expected to drop on July 11. CPI Data Could Move The Narrative For Crypto Crypto analyst CrypNuevo took to X (formerly Twitter) to share their thoughts on where they expect the Bitcoin price to be headed next. Pointing to the upcoming CPI data, CrypNuevo explains that a rate cut could be imminent in the CPI data that is expected to be released on Thursday, July 11. Related Reading: Dogecoin Vs. Shiba Inu Vs. PEPE: Comparing The Profitability Of The Top Meme Coins With the inflation data expected to come in lower, this could point to an immediate rate cut or at least a further rate cut by the Fed going forward. Naturally, such rate cuts would be good for the Bitcoin price as they have been in the past. A rate cut or an imminent rate cut announcement would be greatly received in the crypto market and I believe that we would see prices going up aggressively in that case, the analyst said. I dont discard that if we get a good CPI on Thursday, we see that reversal for that day, because the market tends to price-in whats to come from the FED, CrypNuevo explains further further. Will The Bitcoin Bearish Trend Continue? For the analysis, the crypto analyst used the BTC 1-Day chart which showed a rather peculiar wick that the analysis expects to be filled. This wick is the $53,400 wick that occurred in early July before the market recovery, but the analyst does not believe that it is over for the price. Firstly, the analyst expects at least 50% of the wick to be filled, something that already happened over the weekend when the price fell to $54,000. Related Reading: Finance CEO Raoul Pal Says Crypto Will Reach $100 Trillion Market Cap Heres When On to the topic of the wick being 100% filled, it could be bullish for the price as the crypto analyst expects that falling to this level could see the price bounce from here. However, there is also the possibility that the price fills this wick and then falls further down. In such a case, the crypto analyst believes that $51,700 would hold for the Bitcoin price. This means that this would be the next support level for bulls to hold. A recovery from here would likely see the price barrel toward $60,000, but the analyst maintains that $60,000 is now resistance for Bitcoin. Featured image created with Dall.E, chart from Tradingview.com
Bitcoin's resilience amid price drops indicates strengthening support at the $65,000 level.
Ether derivatives were unable to maintain elevated levels of optimism, despite the potential spot ETF and recent macroeconomic data.
In a recent post on X, highly regarded cryptocurrency expert Daan Crypto shared his insights on the current position of Ethereum (ETH). The analyst noted that ETH has gotten to an interesting spot in its trading protocols by cleaning out the range low and prodding the 4H 200MA. Daan Cryptos view shows that this is […]
Bitcoin futures and options markets indicate that the prevailing sentiment remains bullish.
Bitcoin’s price has soared past $69,000 after the latest US Consumer Price Index (CPI) for May showed a slight decline. Available data shows that the much-anticipated US CPI inflation data was better than several experts’ predictions. Charlie Bilello, the Chief Market Strategist at Creative Planning, said: “Overall, US CPI moved down to 3.27% year-on-year in […]
The post Bitcoin surges above $69k after better-than-expected US CPI appeared first on CryptoSlate.
Bitcoin prices rise as the May Consumer Price Index report reveals a slowdown in inflation to 3.3% year-over-year, raising expectations for potential interest rate cuts by the Federal Reserve later this year.
The post Bitcoin gains as May CPI data shows moderate inflation numbers appeared first on Crypto Briefing.
ETH price continues to trail far behind Bitcoins year-to-date gains even after the crypto market responded positively to todays CPI print.
El Salvador was the first country to adopt Bitcoin as legal tender in 2021 and now holds over 5,700 BTC.
Historical Bitcoin performance data and investors' expectation that the Fed will pump our bags have traders anticipating a strong BTC price rebound.
Bitcoin retreats from its $72,000 high as investors eye the US CPI report, which could influence the Fed's interest rate decisions.
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