A recently published forecast stemming from the Federal Reserve Bank of Cleveland’s Inflation Nowcasting data indicates upcoming U.S. consumer price index (CPI) metrics will likely be elevated. The newly predicted CPI levels were recorded the same day America’s gross national debt surpassed $31 trillion on October 4, as the country’s growing debt continues to rise…
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Declining interest in margin shorts and a balanced risk perception in options markets highlight a possible path to $21,500 for BTC price. Bitcoin (BTC) showed strength on Oct. 4 and 5, posting a 5% gain on Oct. 5 and breaking through the $20,000 resistance. The move liquidated $75 million worth of leverage short (bear) positions…
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The United Nations Conference on Trade and Development (UNCTAD) has warned that the U.S. Federal Reserve’s interest rate hikes and the slew of other central banks raising rates, could pose harm to the global economy. UNCTAD calculated that for every Fed basis point rise, the economic output of wealthy countries declines by 0.5%, and for…
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U.S. tech giants are set to report their second quarter earnings throughout October, presenting a scenario that could possibly benefit Bitcoin. Some of the biggest companies in the world are expected to report their 2Q earnings in October, including electric automaker Tesla on Oct. 18, tech giants Meta and Microsoft on Oct. 24, Apple and…
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The U.S. Federal Reserve raised the federal funds rate on Wednesday afternoon by three-quarters of a percentage point. The central bank’s move follows the consumer price index (CPI) report last week that showed U.S. inflation jumped last month by 8.3% per annum. Fed Raises Federal Funds Rate by 75bps anticipates ‘Ongoing Increases’ On September 21,…
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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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Analysts and traders strongly adhere to the “Bitcoin is inversely correlated to the strength of the U.S. dollar index” thesis, but a closer look at the data suggests otherwise. Presently, there seems to be a general assumption that when the U.S. dollar value increases against other global major currencies, as measured by the DXY index,…
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The crypto economy has slipped under the $1 trillion range once again after briefly rising to a high of $1.16 trillion on September 14. Signs show that Ethereum’s Merge hype has seemingly left the building and market participants are now waiting for the upcoming Federal Reserve meeting next week. Presently, the crypto economy is down…
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BTC nose-dived to its lowest level since July 13, but data shows pro traders remain skeptical of a quick recovery. An $860 surprise price correction on Sept. 6 took Bitcoin (BTC) from $19,820 to $18,960 in less than two hours. The movement caused $74 million in Bitcoin futures liquidations at derivatives exchanges, the largest in…
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The total crypto market capitalization dropped by 6.9% in one week, while derivatives metrics reflect increasing demand for bearish bets. From a bearish perspective, there’s a fair probability that the crypto market entered a descending channel (or wedge) on Aug. 15 after it failed to break above the $1.2 trillion total market capitalization resistance. Even…
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