Twitter founder Jack Dorsey’s payment firm Block, formerly called Square, has seen a downgrade, dragged down by none other than bitcoin (BTC) – or rather, the company’s “preoccupation” with it. Investment bank Mizuho downgraded Block from “buy” to “neutral”, arguing that the company is significantly focused on BTC despite it contributing less than 5% of…
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Digital currency markets, precious metals, and stocks dropped another leg down on Monday following the drop markets saw last Tuesday. Last week’s fall was one of the worst weeks in more than three months as market strategists believe a sizable Fed rate hike is coming this week. Bank of America’s analysts led by Savita Subramanian…
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The aftermath of the Ethereum Merge gives no respite to crypto bulls, who face continued market pressure as stocks also trend down. Bitcoin (BTC) attempted to violate local lows on Sep. 16 as the latest cross-crypto downtrend intensified. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView No relief for BTC bulls post Merge Data from Cointelegraph…
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$1.6 trillion U.S. stock market losses pressure crypto markets, with BTC price action coming full circle to linger near $20,000. Bitcoin (BTC) briefly lost $20,000 support overnight into Sep. 14 after hot United States inflation sent risk assets crashing lower. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Markets lose big in bid to “fight the…
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BTC, ETH, altcoins and stock prices crumbled in the face of a hotter than expected CPI report. Is there room for a short-term recovery? Crypto and stock markets are feeling the pain after the Sept. 13 inflation report printed an unexpectedly hot figure that showed headline inflation rising by 0.1% month-over-month. Even with gas prices…
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On September 13, the U.S. Bureau of Labor Statistics reported the country’s consumer price index (CPI) inflation jumped by 8.3% annually in August. The reduction was less than expected and market analysts believe the U.S. Federal Reserve will continue its aggressive rate hikes going forward. US Consumer Prices Increased at an 8% Annual Pace of…
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Buying the dip is essential for MicroStrategy as the company’s reserve of nearly 129,699 BTC currently suffers an aggregated value loss of over $1 billion. MicroStrategy, the largest institutional Bitcoin (BTC) buyer, entered an agreement with two agents — Cowen and Company and BTIG — to sell its aggregated class A common stock worth $500,000,000,…
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Optimism increases over a macro Bitcoin bottom as daily gains top 9% for BTC/USD on the Wall Street open. Bitcoin (BTC) circled $21,000 at the Sep. 9 Wall Street open as newly-won gains endured. Meanwhile, the total cryptocurrency market capitalization has crossed back above the $1 billion mark. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView…
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Timing the market bottom is impossible, but several technical and on-chain indicators suggest that it’s time to start accumulating Bitcoin. Bitcoin (BTC) has been in a rut, and BTC’s price is likely to stay in its current downtrend. But like I mentioned last week, when nobody is talking about Bitcoin, that’s usually the best time…
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Wall Street’s major indexes closed the day in red on Tuesday, alongside cryptocurrencies, and precious metals like gold and silver taking some percentage losses. The leading crypto asset bitcoin dropped 5.87% under the $19K region, while the second largest crypto asset ethereum shed 8.7%. Gold’s nominal U.S. dollar value per troy ounce slipped by 0.50%,…
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