Bitcoin, altcoins sell-off on record-high inflation, but traders still expect...
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....
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The price of Bitcoin is consolidating around $19,000 as traders brace for a possible pullback. The price of Bitcoin (BTC) was rejected by the $19,500 resistance level yet again on Dec. 4, with traders becoming increasingly uncertain about what's next for BTC/USD. Bitcoin rally keeps stalling at $19,500Some foresee the dominant cryptocurrency undergoing a consolidation phase or another minor correction in the near term, particularly as the U.S. dollar is showing signs of a possible recovery.Others, however, expect the crucial $18,500 support level to hold, which would likely set up BTC to....
Traders expect a slow Q4 for Bitcoin and altcoins, especially as BTC’s dominance rate begins to climb higher. Bitcoin (BTC) price has been stuck in a range for weeks now but traders generally expect a slow fourth quarter for the top-ranked digital asset.Bitcoin quarterly returns (%). Source: Skew.comIn 2018 and 2019 Q4 closed net negative, injecting a bit of bearish sentiment into the market. In the near term, a boring Q4 of further downside from Bitcoin price could cause altcoin prices to dump further.At the moment, multiple technical analysts are closely watching the bounce in the....
Americans are still very concerned about inflation as the latest Survey of Consumer Expectations (SCE) report from August indicates that U.S. consumers expect inflation to be 5.2% a year from now. The SCE response data hasn’t been this high since 2013, and it’s increased since the month prior, when U.S. residents expected 4.9% at the time. Month After Month, Consumer Inflation Expectations Continue to Climb Higher The cost of services and goods in the United States has risen a great deal and Americans have been worried about rising inflation. Citizens have good reason to....
Equities markets have extended their decline, but Bitcoin and select altcoins have not given up much ground, leading some traders to believe that the bottom is in. The United States equities markets have been under a firm bear grip for a large part of the year. The S&P 500 and the Nasdaq Composite have declined for three quarters in a row, a first since 2009. There was no respite in selling in September and the Dow Jones Industrial Average is on track to record its worst September since 2002. These figures outline the kind of carnage that exists in the equities market.Compared to these....
Chainlink's LINK token set a new record price early on Monday, and other altcoins are seeing solid gains.