Bitcoin / 629 posts found
Bitcoin Soars Towards $24K as US Inflation Slows Down to 8.5%
Bitcoin The United States government just released the latest CPI data, indicating that inflation has finally begun to ease following several consecutive months with record-setting numbers. As with previous examples, the price of bitcoin reacted almost immediately with a surge towards $24,000. Ever since the start of the year, the inflation numbers from the US have impacted BTC’s price since the cryptocurrency is considered a widely riskier asset. For several consecutive months, the US had to announce record-breaking inflation percentages, with the latest in July being at 9.1% – the highest in over 40 years. However, due to the declining […]
Bitcoin Rallies as U.S. Inflation Cools to 8.5%
The latest Consumer Price Index print for July has fallen below expectations of an 8.7% print, hinting that U.S. inflation may have peaked. Key Takeaways The U.S. Consumer Price Index data for July has come at 8.5%, 20 basis points lower than economists’ expectations. The cooling suggests inflation may have peaked in June, meaning the Federal Reserve could turn dovish sooner than previously expected. Bitcoin and Ethereum both surged as the numbers dropped. The decline in inflation following the four-decade record print of 9.1% in June could bode well for risk-on assets like equities and cryptocurrencies. Bitcoin and Ethereum jumped […]
Here’s Why It’s a Crucial Week For Crypto Market, What Bitcoin (BTC) Traders Can Expect?
Cryptocurrency Bitcoin bulls are trying hard to set their foot above the $24,000, although on the other hand financial analyst Justin Bennett said that this week’s release of inflation data will be the biggest test of the year by far for the cryptocurrency markets. The trader said in a new video that statistics from the Consumer Price Index (CPI) and Producer Price Index (PPI) might shake the macro environment and have a big impact on cryptocurrency. Both CPI and PPI will be released back-to-back the next week, so the stock market, as well as the cryptocurrency market, will want to […]
Bitcoin (BTC) Price Still in Course To Hit $100k Says Bloomberg Strategist, Mike McGlone
Mike McGlone, the senior commodity strategist at bloomberg bloomberg MediaConglomerate company Followers : 0 View profile , believes that Bitcoin, the most popular cryptocurrency, is still on course to reach $100,000. In the second half of 2022, oil prices will continue to fall. The U.S. Federal Reserve is likely to stop raising interest rates as a result of declining petroleum prices, which will likely indicate worldwide deflationary trends. Inflation expectations have fallen in the United States across all time horizons, according to a recent survey by the Federal Reserve Bank of New York. Such macroeconomic factors could increase gold prices. […]
BTC-e Operator Who Used Bitcoin to Launder $4B Extradited to U.S. to Face Charges
Bitcoin The U.S. Department of Justice (DOJ) announced Friday that Alexander Vinnik, a 42-year-old Russian, has been extradited from Greece to the United States to face multiple charges relating to money laundering and operating an illegal cryptocurrency exchange. Vinnik first got into legal trouble with the DOJ in 2017 for allegedly operating the now-defunct crypto trading platform BTC-e in the U.S. without proper authorization and helping criminals launder at least $4 billion through Bitcoin. Bitcoin An Extradition Tussle That same year, he was arrested in Greece at the request of the U.S. government. After his arrest, Vinnik’s assets, worth $90 […]
Bitcoin Is Trading at a Discount, Says Bloomberg Senior Analyst
Senior Bloomberg Analyst Mike McGlone has said that Bitcoin is currently trading at a massive discount and could become global digital collateral. According to Forbes, McGlone relied mostly on technical analysis of the 100-week moving average. In July, Bitcoin reached its lowest ever price vs the 100-week moving average. This is a sign that it is trading at an “extreme discount within an enduring bull market,” said McGlone. The senior commodities analyst also touched on the Federal Reserve’s interest rate hike in the face of current inflation and what that could mean for Bitcoin. He pointed out that cryptocurrencies benefited from […]
BTC Exchange Balance Hits the Lowest Level in 4 Years
Cryptocurrency The world’s largest cryptocurrency, Bitcoin (BTC) is currently going through a substantial price recovery after losing almost 70% of its value in the past eight months. Amid the latest market recovery, the BTC balance on leading digital exchanges is plunging. According to Glassnode, an on-chain analytics platform, the Bitcoin exchange balance reached 2.37 million BTC on Friday, the lowest level since July 2018. Coinbase suffered the most due to the recent balance dip. In July 2022, Binance became the digital exchange with the largest Bitcoin holdings. On 6 August 2022, BTC stayed above $23,000 after a jump of approximately […]