Markets

TL;DR Bitcoin shows signs of a potential rally, with some analysts predicting a jump to a new all-time high. Conversely, increased exchange inflows suggest possible short-term selling pressure. Good News for the Bulls? Bitcoin’s price witnessed enhanced ups and downs in the past week, ranging from $56,000 to over $60,500. Currently, it trades at around $59,200, representing a 1% increase on a daily scale. BTC Price, Source: CoinGeckoDespite its wobbly performance lately,...

Typically, a greater flow of new dollars to target lower interest rates inflates the prices of equities and fixed-income bonds. Since the advent of cryptocurrencies, financial markets have found that this new asset class is especially responsive to interest rates and bears an inverse correlation to them. Correlation Spotted: Bitcoin and Interest Rates A recent report from the Fidelity Active Investor Learning Center notes, “While central banks do not control cryptocurrencies,...

Bitcoin-skeptic Elizabeth Warren (D-Massachusetts) and other Democratic senators sent a letter to the Federal Reserve on Monday calling for far more aggressive rate cuts than the market expects. “We write today to urge the Federal Reserve (Fed) to cut the federal funds rate, currently at a two-decade-high of 5.3 percent, by 75 basis points (bps) at the Federal Open Market Committee (FOMC) meeting on September 17 and 18, 2024,” the senators wrote. “Too Late” To Cutting Rates...

Bitcoin’s price is still consolidating around the $60K level. Yet, an impulsive move might begin soon. Technical Analysis By Edris Derakhshi (TradingRage) The Daily Chart On the daily timeframe, it is evident that the price has yet to climb back and recover definitively above the $60K level after its rapid rejection and drop from the 200-day moving average, located around $63K. Following the recent rebound from the $52,500 level, the price has once again tested the pivotal...

Ethereum remains in a downward trend, with price action showing insufficient bullish momentum for a reversal. In the near term, the cryptocurrency is likely to enter a consolidation phase within a critical range, with mild bearish retracements seeming far more likely. By Shayan The Daily Chart On the daily chart, Ethereum has been in a sustained downtrend since getting rejected at its yearly high of $4K. The price has consistently formed lower lows and lower highs, creating...

[PRESS RELEASE – Singapore, September 16th, 2024] Traders in emerging markets are facing a wide range of economic pressures in 2024. These are shaped by many factors including global macroeconomic shifts, domestic challenges, and geopolitical factors. As a result, traders in these regions are more focused than ever on finding a broker that provides them with the best possible conditions, as well as additional benefits tailored to them. PrimeXBT, an online Crypto & CFD...

Crypto All-Stars is gathering serious momentum at presale, recently surpassing the $1.2 million total raised mark. It plans to build the world’s first “MemeVault,” a decentralized application that lets users lock up their joke tokens for passive $STARS rewards. MemeVault is expected to support all the top meme coins, including Dogecoin, Shiba Inu, Pepe, Floki, and more. Currently, the Crypto All-Stars ($STARS) presale is ongoing and priced at $0.0014419. However, the price...

Coinbase founder and CEO Brian Armstrong has denied speculations that the company has sold paper Bitcoin to BlackRock without maintaining a 1:1 backing. The allegations have caused debate in the crypto community, with some accusing Coinbase of lacking transparency in its Bitcoin reserves. Brian Armstrong Dispels the Rumors In a statement on X addressing crypto analyst Tyler Durden, Armstrong explained that the minting and burning of Bitcoin for BlackRock’s spot Bitcoin ETF...

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The crypto staking landscape is constantly evolving, with new and remarkable shifts coming to light every now and then. A feature that was once primarily attributed to networks with proof-of-stake consensus mechanisms like Ethereum, developers have now brought staking and restaking to the Bitcoin blockchain. A report by the non-custodial staking services provider P2P.org outlined some major staking trends seen in the market over the past month. Trends in Ethereum Staking The...