Bitcoin Starts July On A Bearish Note, Will CPI Data Change The Narrative Thi...

Bitcoin Starts July On A Bearish Note, Will CPI Data Change The Narrative Thi...

The beginning of July has not been bullish for the Bitcoin and crypto market as earlier expected due to a number of events that have shaken the market. For example, the Spot Ethereum ETFs did not debut on July 2nd as expected, and the US and German governments have been reportedly selling large tranches of BTC. However, a turn in the tide could be coming for Bitcoin and crypto at large as the CPI data is expected to drop on July 11. CPI Data Could Move The Narrative For Crypto Crypto analyst CrypNuevo took to X (formerly Twitter) to share their thoughts on where they expect the Bitcoin....


Related News

Will Bitcoin Bounce Back? Traders Place Their Bets on a Rocky Q4, Data Shows

So far, Bitcoin has seen significant volatility in the last trading session, hinting at frail investor sentiment. Earlier today, the asset soared to as high as $57,300. However, the asset now appears to have run out of steam after reaching this mark as it trades at $55,966, down by 1.6%. This surge in volatility is a sign that the market has become more fearful as traders watch several key technical levels. However, the latest data suggests a shift in trader patterns as more defensive strategies are sought. Analysts from the ETC Group report have noted a substantial increase in the open....

Shiba Inu Starts July On A High Note: Burn Rate Surges 16,854%, Trading Volum...

Shiba Inu (SHIB) has begun July on a positive note, with several on-chain metrics painting a bullish signal for the second-largest meme coin by market cap. These bullish developments could provide the much-needed turnaround for the meme coin, which had a June to forget.  SHIB’s Burn Rate Surges By 16,854% Data from the burn tracking website Shibburn shows that Shiba Inu’s burn rate spiked by over 16,854% in the last 24 hours, with over 300 million Shiba Inu tokens burned during this period. This is massive for the meme coin, given the positive impact the token burns have on its price.....

Grayscale Bitcoin Trust FUD is now over as the last GBTC unlock totals just 5...

What was once a major bearish narrative exits via the tradesman’s entrance after failing to have any impact on Bitcoin markets. Bitcoin (BTC) investment vehicle the Grayscale Bitcoin Trust (GBTC) completed its share unlockings this week, ending a major talking point both inside and outside crypto.Data from monitoring resource Bybt confirms that as of Thursday, no more unlockings are scheduled.Bitcoin shrugs off another FUD narrativeUnlocking events at GBTC have continued throughout 2021 and, at one point, formed the focal point for bearish BTC price predictions.With the equivalent of tens....

Bitcoin “Double Top” Narrative Builds, Factors To Potentially Fear

Bitcoin price is in a precarious location. The asset set a new all-time high just days ago but is trading below the record and starting to decline. The shifting momentum is now presenting in technical indicators supplying bearish signals, adding to the double top narrative that’s been building since failing to break $20,000. Here are […]

Why A Reversal In Gold Could Tarnish Recent Bitcoin Narrative

The last year in finance has been all about Bitcoin. The digital gold narrative arrived at the perfect time, amidst a perfect storm of stimulus money, irrational exuberance in the stock market, and more. The forecast is starting to change for gold, however, just as the top cryptocurrency is struggling to maintain its market structure […]