Bitcoin drops to support as looming CPI print shakes up crypto and stock markets
Traders tuck their tails as this week’s CPI print approaches and BTC and ETH price fall back into range to test underlying support. Crypto and equities markets took a bit of a tumble on Aug. 9 as traders grew a bit skittish ahead of tomorrow’s Consumer Price Index (CPI) report. The details of the print will shine a light on whether the Federal Reserve’s aggressive interest hikes are effective in tamping runaway inflation and it could have an impact on the size of future hikes. Earlier in the week, Tesla CEO Elon Musk suggested that July data will reflect the United States reaching peak....
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Jim Cramer, otherwise known as the ‘stock guru,’ has weighed in how the latest cryptocurrency market correction can affect the stock markets. Cramer thinks this contingency will benefit stock markets, with some investors taking profit and moving them to less volatile, less transient investments. But some volatile stocks also felt the correction in crypto, now that some tech shares are more correlated than ever. Jim Cramer Thinks Crypto Correction Will Benefit Stock Markets Jim Cramer, the host of CNBC’s Mad Money, and one of the most recognizable stock gurus stated the....
Non-fungible token (NFT) markets are starting to feel the pain from the crypto market carnage that’s taken place during the last week. Over the last seven days, NFT sales have dropped 42.85% lower than the previous week. NFT sales on Ethereum were hit the hardest as the blockchain saw a 44.83% loss in NFT sales volume this past week.
Crypto Economy’s Downward Spiral Begins to Plague NFT Sales
NFT sales are down this week as seven-day sales metrics show across 16 different blockchains, NFT sales slipped 42.85% lower than last week. Sales stemming from Ethereum were....
Stranded natural gas operations could be the next major avenue of Bitcoin’s entry into the global energy production industry. The post How Bitcoin Shakes The Energy Industry appeared first on Bitcoin Magazine.
Global financial markets and crypto sold-off after today’s 8.6% CPI print showed inflation remains a persistent challenge. Global financial markets once again find themselves trending lower on June 10 after the Consumer Price Index (CPI) came in at a blistering 8.6% year-over-year increase, the highest print since 1981. The hotter-than-expected CPI print resulted in a collapse of the $30,000 support and Bitcoin (BTC) price sold-off to a daily low at $28,852 before dip buyers managed to bid the price back above $29,000.BTC/USDT 1-day chart. Source: TradingViewHere’s what several analysts in....
This past week was an exciting one, with the rising bitcoin price, community drama, and shaky financial markets giving us a lot of things to watch. China started the week with a massive stock market crash, putting the global economy on high alert. Meanwhile, in the Bitcoin community, we discovered that the Cryptsy team moved out of their building in Delray Beach, Florida without warning — no one knows where they are. The week started off on Monday, January 4, 2015, with the Bitcoin price following the $430s pattern established in the previous week. Nothing dramatic happened on the markets,....