Bitcoin price loses traction as miner profits drop and spot BTC outflows persist

Bitcoin has lost more than 10% in the past two weeks as fear of a US recession, spot Bitcoin ETF outflows and the threat of miner capitulation grows.

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Bitcoin (BTC) Faces Volatility as US Interest Rate Decisions Loom

Bitcoin's (BTC) price may experience significant changes as the US Federal Reserve's interest rate decisions approach, according to Bitfinex Alpha. (Read More)

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Feds dovish move will slash $625M in interest income for stablecoins

CCData estimates stablecoins will lose approximately $625 million in interest income for each 50-basis point cut. Further cuts in 2024 could reduce annual revenue by as much as $1.5 billion.

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Gold hits new all-time high as Bitcoin rallies to September high above $64K

Gold has gained more than 5% in two weeks, reaching a record high driven by rate cuts and geopolitical tensions.

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Bitcoin leads $321M crypto inflows following Fed rate reduction

Digital asset investment products posted a second consecutive week of inflows last week, totaling $321 million, CoinShares reported.

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Bitcoin is pinned below $65K but several market structure-altering factors are at play

Bitcoin must overcome resistance in the $64,000 to $66,000 zone before a new set of growth catalysts initiate the path to six-figure BTC price territory.

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Ethereum open interest hits 20-month high: Bullish or bearish for ETH?

Ethers futures open interest jumps to a 20-month high, but leverage demand remains balanced.

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Ethereum Poised For A Comeback Following Interest Rate Cut: Steno Research

According to Steno Research, Ethereums (ETH) days of underperformance against the wider crypto market might be numbered following the US Federal Reserves (Fed) decision to cut interest rates. Its Time For Ethereum To Shine Again Regarding price appreciation, ETH hasnt had a particularly impressive 2024. While Bitcoin (BTC) and altcoins like Solana (SOL) and Tron (TRX) have witnessed considerable price gains, ETH is still trading at its January 2024 price levels. Notably, the second largest digital asset by market cap has tumbled 48% against Bitcoin since the Ethereum merged on September 15, 2022. Related Reading: Ethereum Price Reaches $2,500 Again: Will The Uptrend Hold? For the uninitiated, the Ethereum merge was a major milestone for the leading smart contract platform as it not only changed its consensus mechanism from Proof-of-Work (PoW) to Proof-of-Stake (PoS) but also razed down the issuance of new ETH from 4% to 1% annually. As a result, there has been a net negative ETH supply growth with more ETH being burned through transaction fees than issued to stakers. Ethereums unimpressive performance against Bitcoin can be confirmed from the following chart, where the ETH/BTC trading pair has fallen to 0.04, eroding all its gains against the flagship cryptocurrency since April 2021. However, a recent report by Steno Research opines that its time for Ethereum to come back.  According to the report, the Feds decision to slash interest rates might be the fuel that propels ETHs price surge in the coming months. The report references ETHs performance during the last altcoin season, where it more than doubled in value compared to BTC in less than two months.  This sudden growth was powered by a sharp increase in on-chain activity stemming from rising interest in ecosystems such as decentralized finance (DeFi), non-fungible tokens (NFT), and higher issuance of stablecoins. In a post on X, Mads Eberhardt, Senior Cryptocurrency Analyst at Steno Research, said: Lower interest rates -> More on-chain activity -> Greater Ethereum transactional revenue -> Lower ETH supply growth -> Higher ETH price. Let’s go. Several Reasons For Ethereums Underperformance Additionally, the report mentions that Ethereum exchange-traded funds (ETFs) will likely outperform Bitcoin ETFs. Discussing the major reasons why BTC has overshadowed ETH until now, Eberhardt notes: The impact of U.S. spot ETFs for both bitcoin and ether, the persistent buying pressure from MicroStrategy (MSTR), and a notable decline in Ethereum’s transactional revenue in recent months. Related Reading: Ethereum In 2021 Vs. 2024: Fractal Suggests Major Breakout In Q4 Despite the headwinds it has faced, investor confidence in Ethereum continues to be strong. In a recent report, crypto exchange Bitwises CIO called Ethereum the Microsoft of blockchains, hinting it might come back by year-end after the November US presidential elections. ETH trades at $2,543 at press time, up 4.3% in the past 24 hours. Featured image from Unsplash, Charts from Etherscan.io and Tradingview.com

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Bitcoin (BTC) Faces Potential Volatility as Interest Rate Cut Looms

Bitcoin (BTC) may see increased volatility with a potential 25 basis point rate cut by the Fed, according to Bitfinex Alpha. (Read More)

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Bitcoin price attempts to turn the tide after Feds 0.5% rate cut

Bitcoin price rallies to $61,000 after the US Federal Reserve cuts rates by 50 basis points for the first time since 2020.

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Bitcoin rallies to $61K, but derivatives traders are still skeptical Here is why

Bitcoin price shows strength ahead of a key Federal Reserve monetary policy decision on Sept. 18, but data suggests the momentum may not last.

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Bitcoin price turns shaky ahead of potential Fed rate cut and weak global economic data

Bitcoin price wobbles near $58,000 as uncertainty over the Feds monetary policy decision looms and traders eyeball weak economic data in China.

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Bitcoin Funding Rates Turn Negative: Shorts Turn To Get Squeezed?

Data shows the Bitcoin funding rates on exchanges have turned negative, a sign that the shorts have now become the dominant force in the market. Bitcoin Funding Rates Have Turned Negative After Market Crash As pointed out by an analyst in a CryptoQuant Quicktake post, the Bitcoin funding rates have seen a sharp decline recently. The “funding rate” refers to a metric that keeps track of the periodic fee that derivatives contract holders are currently exchanging with each other. When the value of this indicator is positive, it means the long investors are paying a premium to the short ones in order to hold onto their positions. Such a trend implies a bullish sentiment is shared by the majority in the sector. Related Reading: Chainlink (LINK) Recovers 20% As Network Lights Up With Activity On the other hand, the metric being negative implies a bearish mentality could be the dominant one in the market as the short holders outweigh the longs. Now, here is a chart that shows the trend in this Bitcoin indicator for all exchanges over the past few months: As displayed in the above graph, the Bitcoin funding rate had been positive throughout the year 2024, save for a couple of small dips into the negative region, until this latest crash, which finally took the indicator to notable red values. The earlier positive values were naturally due to the fact that the market had a bullish atmosphere to it, so the average investor was trying to bet on the price to rise. From the graph, it’s visible that this positive sentiment was the strongest during the rally to the all-time high (ATH) price fueled by the spot exchange-traded fund (ETF) demand. During the consolidation period that had followed this rally, BTC had seen a couple of notable drawdowns, but they weren’t enough to shake off the bullish mood. The recent sharp crash, though, appears to have finally caused investors to have a bearish outlook on the cryptocurrency. The Bitcoin crash had resulted in a huge amount of long liquidations in the market, triggering what’s known as a squeeze. In a squeeze event, a sharp swing in the price causes mass liquidations, which in turn fuels the price move further. This then unleashes a cascade of more liquidations. Since the latest such event involved the longs, it would be called a long squeeze. In general, an event of this kind is more likely to affect the side of the derivatives market that is more dominant. As this power balance has shifted towards the shorts now, it’s possible that the market could instead see a short squeeze in the near future. Related Reading: Is Bitcoin In A Bear Market Now? Heres What On-Chain Data Suggests Naturally, it’s not necessary that a short squeeze should take place, but if the price ends up witnessing some volatility, it’s possible it may end up punishing the short-heavy market. BTC Price Bitcoin has been steadily making recovery from the crash as its price has now climbed back to $57,500. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com

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Bitcoin price volatility expected at Fed September FOMC meeting Heres how to prepare

Bitcoin traders expect BTC to rally if the Fed rolls out a 0.50% rate cut, but hedging these bullish positions is also necessary. Here is how it's done.

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Bitcoin price keeps falling under $60K Here is why

Many analysts say a drop in spot Bitcoin ETF demand is the primary reason for BTCs price weakness, but theres more to it than that. 

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Feds sugar high may propel Bitcoin surge Arthur Hayes

Arthur Hayes connects Federal Reserve actions to a short-lived economic boost with ripple effects on Bitcoin and broader crypto markets, underscoring risks from Japanese yen carry trade unwinding.

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Crypto Market Insights: Key Events and Opportunities Amid Bearish Sentiment

In a recent YouTube video, the popular cryptocurrency expert Michael van de Poppe discussed the current market perception, events and opportunities. Although the market has been bearish in this period, this is seen as the best time for planning. Some of the altcoins are already exhibiting life and such is a good sign for potential […]

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Past rate cuts indicate potential crypto bull market catalyst 21Shares

The Federal Reserve is expected to begin lowering its benchmark interest rate in September.

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Is Now a Good Time to Invest in Cryptos?

Is it a good time to invest in cryptos? I will give you 5 good reasons why you should consider investing in cryptos now. The last one is the most important. 1. Bitcoin Halving This year, in May, we had the Bitcoin halving. It’s an event that happens every 4 years, which cuts the number [...]

The post Is Now a Good Time to Invest in Cryptos? appeared first on Crypto Breaking News.

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Lower interest rates could be the key to DeFi summer: HashKey CEO

Declining interest rates along with rising investment in Bitcoin could provide the fuel the DeFi market needs to experience a long-awaited resurgence.

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