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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,...

The price of bitcoin (BTC) has entered a bearish phase, stemming from the asset’s constant decline and range-bound movement. As a result, the largest cryptocurrency has decoupled from gold. According to CryptoQuant analysts, bitcoin’s price has been declining while the yellow metal has rallied to new record highs, causing their correlation to turn negative. Bitcoin Decouples From Gold The negative correlation between bitcoin and gold reflects a risk-averse environment where...

The cryptocurrency markets have remained relatively calm in the past 24 hours, with most coins trading flat. Their total capitalization is currently around $2.2 trillion. Bitcoin’s Price Flirts With $60K The BTC price didn’t experience significant volatility during the past 24 hours. At one point, the bears attempted to push it toward $59.5K, but the bulls were quick to intervene and recover above $60K, where it’s currently trading. All in all, this concludes a week of...

Bitcoin’s price ascend continued in the past 24 hours as the asset flew past $60,000 and tapped a multi-week peak of over $60,500. The altcoins are also in the green, which has boosted the total crypto market cap by more than $70 billion since yesterday. BTC Touched $60.5K After last Friday’s correction that drove BTC to $52,500, the asset recovered some ground during the weekend but went on the offensive hard on Monday, soaring by four grand in 24 hours and briefly exceeding...

Bitcoin’s two-week-long negative streak came to an end on Monday, while the net inflows for the past five-day trading period skyrocketed to over $400 million. The same cannot be said for the spot Ethereum ETFs, as the products continue to bleed out and see little to no actual demand. Spot BTC ETFs Back on Track CryptoPotato reported last week the longest negative streak that the spot Bitcoin ETFs were on, as they saw roughly $900 million in net outflows from August 26 until...

Alongside a lackluster market, there has been a significant decline in whale activity across most major crypto assets. According to the latest analysis by Santiment, Bitcoin and Ethereum are seeing noticeable drops in $100k+ transactions. Whale Activity Plummets During the highly active period of March 13-19, Bitcoin saw 115.1k transactions valued at over $100k each, reflecting intense activity from large holders. However, by 21-27 August, this number had nearly halved to...

A lot can change in the cryptocurrency markets within the span of the week. This is what happened to bitcoin and most altcoins since last Friday when BTC soared from around $60,000 to over $64,000 on Saturday after the bullish developments on US soil. Namely, Fed Chair Jerome Powell hinted at incoming interest rate cuts, and RFK endorsed pro-crypto presidential candidate Donald Trump and withdrew his campaign. The weekend for bitcoin was quiet despite the turbulence elsewhere...

One of the biggest upgrades on the Cardano network is set to be deployed in the next three days. It will introduce new features and finalize the blockchain’s transition into a community-run network. The Chang hard fork was initially scheduled to go live on Tuesday, August 27, per an announcement on August 20; however, Cardano founder Charles Hoskinson revealed on August 23 that the launch had been moved to September 1, 2024. According to Hoskinson, crypto exchanges like...

The number of celebrities and well-known public figures supporting Pavel Durov after his controversial arrest in France earlier this weekend has skyrocketed. Some of those include Elon Musk, Robert F. Kennedy, Vitalik Buterin, and Tucker Carlson. Durov’s Arrest CryptoPotato reported earlier today Durov’s arrest in France on Saturday evening, which, according to local media, was because the popular messaging app he runs failed to moderate the content. He faces up to 20 years...

After tapping $65,000 yesterday, bitcoin’s price actions calmed, and the asset remained relatively still at around $64,000. The altcoins are also quite sluggish on a daily scale, aside from TON, which was impacted by the news surrounding Pavel Durov, Telegram’s CEO. BTC Calms at $64K The business week started on a negative note for the primary cryptocurrency as it failed to overcome the coveted $60,000 level and the subsequent rejection pushed it south by two grand on Monday....