Blockchain Bites: Bitcoin Trades Sideways as US Inflation Is Muted
The line of sight on U.S. inflation is anything but clear after the Labor Department reports the CPI's smallest yearly gain since 2015. So what does it mean for bitcoin?
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This special edition of Blockchain Bites covers everything you need to know from invest: ethereum economy and the news from elsewhere in the cryptoverse.
Crypto markets are trading sideways, while Spain's second-largest bank is reportedly planning a leap into the digital asset industry.
The popularity of cryptocurrencies in economically embattled Turkey has continued to surge with the number of daily trades now surpassing one million, a report has said. This surge in trades has been attributed to the depreciating lira which plunged to a new low against the USD on December 20. Lira Plunges Cryptocurrency trades in inflation-stricken Turkey have surged to above one million per day for the first time since March, a Reuters report citing Chainalysis and Kaiko data has said. According to the report, the return to over a million trades per day has come at a time when....
After jumping to a 4-month high of $2.100, Litecoin is consolidating near $2.000 as bulls take a breather while the market participants await a correction. Today's price level of $2.008 is relatively unchanged from yesterday's $2.013 as the cryptocurrency trades in a tight range of $1.980-2.030. However, after a terrible day at work, bears might not make a resounding comeback very soon, so buyers can remain at ease. An analysis of the 240-minute LTC-USD price chart signifies that the muted action in Litecoin will not last for long, and that the breakout from the thin range will most likely....
Hovering at a range between $18,800 and $19,500, the Bitcoin price is chopping out short and long positions. The current dynamics in the market have been determined by macro forces leading BTC to extreme as it approaches a major economic event. Related Reading: Bitcoin Boredom Causes Trading Volume To Dive 38% From September Highs The Consumer Price Index (CPI) for September is poised to operate as one of these events. In the past months, these reports, used by the U.S. Federal Reserve (Fed) to benchmark inflation, have been followed by spikes in volatility. At the time of writing, the....