Bitcoin price threatens $19K support ahead of ‘most hyped’ CPI print
Nerves are showing on the market after several days of Bitcoin “stuck” in a tiny trading range. Bitcoin (BTC) began Oct. 13 with classic fluctuations around $19,000 as markets prepared for crucial macro data.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewNo sign of upside ahead of key U.S. dataData from Cointelegraph Markets Pro and TradingView showed BTC/USD threatening downside at the time of writing with hours to go until the United States Consumer Price Index (CPI) print for September.Expected at 6.5% year-on-year as per a Bloomberg survey, core inflation was tipped to....
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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....
BTC price performance declines in line with U.S. equities ahead of classic volatility engendered by CPI data. Bitcoin (BTC) followed analysts’ predictions with sideways action continuing near $19,000 at the Oct. 11 Wall Street open.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin price follows stocks downhillData from Cointelegraph Markets Pro and TradingView followed BTC/USD as the pair sat at important support ahead of fresh macro triggers.Brief dips below the $19,000 mark the day prior had been short lived, with sellers subsequently returning in an attempt to effect a....
Ethereum price is close to reclaiming the area lost during yesterday’s downside action while Bitcoin slowly crawls back into $19,000. The second cryptocurrency by market cap is about to experience a major event with high potential to operate as a bullish catalyst, “The Merge”. Related Reading: Miner Sends Bitcoin To Binance, 4th Largest Transaction In 2 Months At the time of writing, Ethereum price trades at $1,570 with a 3% profit over the past week. As Bitcoin was pushed down by a fresh leg down, market participants see ETH as the potential savior of the sector. Will Bulls Or Bears Take....
Volatility has stuck the crypto market as the price of Bitcoin and Ethereum trend to the downside. The two largest cryptocurrencies are reacting negatively and with volatility to the U.S. Consumer Price Index (CPI) print, a metric used to measure inflation. Related Reading: Bitcoin (BTC) Closes Week Above $21K, Is Bullish Reversal In Sight? At the time of writing, Bitcoin (BTC) trades at $21,600 after a rejection north of $22,000 and a 4% loss in the last 24 hours. Ethereum (ETH) trades at $1,640 with a 6% loss over the same period after an aggressive crash from a major resistance area....
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....