Bitcoin price may have resumed its bullish momentum, following a cooler than expected April 2023 CPI report. The Consumer Price Index, a key measure of inflation, fell to 4.9% – lower than the expected 5.0%. As a result, crypto prices are climbing. Bitcoin Price Reclaims $28,000 After April CPI Release The Bureau of Labor Statistics…
As Bitcoin became a more mainstream asset, its correlation with the stock market rose which meant it has been impacted by world events to a higher degree than it did before. This is evident with the asset’s reaction to the rising inflation and the Fed’s continuous hiking of interest rates. However, there seems to be…
Bitcoin (BTC), the largest cryptocurrency in the market, has been trading sideways since experiencing a drop of over 5% on Monday. Despite this decline, Bitcoin has found support at $27,200, preventing further drops that could potentially jeopardize the next bull run of the leading cryptocurrency. However, many investors wonder whether Bitcoin will show any signs…
Bitcoin, the world’s largest and most well-known cryptocurrency, has had a tumultuous past few days, and according to Mike McGlone, a senior macro strategist at Bloomberg Intelligence, the volatility in the BTC market could very well impact other risk assets. McGlone believes that BTC’s influence on the market has become contagious, and as a result,…
The conditions of the cryptocurrency market have changed drastically; according to an analysis by QCP Capital, the options market in its current state makes the crypto industry look like a major crisis, such as the shutdown of crypto exchange FTX after filing for bankruptcy, never happened. Trading desk QCP Capital published observations on the crypto…
Bitcoin (BTC) has retraced significantly today, a day after recording an 8% gain in response to President Biden’s executive order. Bitcoin, like the rest of the crypto market, is under pressure, falling more than 5% and falling below $40,000 levels. Bitcoin is currently trading at $39,324 with a market worth of $745 billion as of…
Currently sitting at nearly 35k, Bitcoin’s price this week has been affected good and bad, by both news from China cracking down on the coin, and that El Salvador is giving each of it’s citizens $30 of BTC. But thankfully, market analysts are still exceedingly bullish on Bitcoin breaking $40K quite soon. This due to…
The best time to buy Bitcoin was a few years and when it first came around in the early 2010’s. The next best time to buy BTC? Right now according to Pantera Capital CEO Dan Morehead. In a tweet sent out recently, Morehead laid out the facts for why the the market is below trend,…
The Iranian government has authorized the mining of cryptocurrencies like bitcoin as an industrial activity on the sidelines of a gloomy economic outlook. Mehr News reported today that miners would need to obtain required licenses from the Ministry of Industry, Mine, and Trade. The move would make crypto mining a taxable event unless miners export…
Investors in the United States are beginning to see bitcoin as a store of value, says former Uber executive Dan Held. The Interchange co-founder and director of business development credited Facebook for upping the status of cryptocurrencies. He said in an interview to BlockTV that the social media giant’s foray into the cryptocurrency industry with…