Bitcoin (BTC) hit new one-month highs on Dec. 13 as United States inflation data sent a surge of optimism through markets. BTC price rebounds aU.S. inflation slows Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $18,105 on Bitstamp after the Consumer Price Index (CPI) print for November came in below expectations. The readout, dubbed the “most important” of the year, even beat analysts’ expectations on inflation slowing. November CPI was 7.1% year-on-year, compared to the 7.3% forecast. Month-on-month was 0.1% versus the 0.3% expected. "The all items index increased 7.1 percent for the 12 months ending November; this …

Bitcoin (BTC) withdrawals from largest crypto exchange Binance have passed $500 million in the past 24 hours as its CEO calls out “FUD.” Data from on-chain monitoring resource Coinglass shows Binance’s BTC balance decreased by over 30,000 BTC into Dec. 13. CZ: FUD is "thoroughly annoying" The latest hotspot for fallout from the FTX debacle, Binance has joined exchanges seeing an exodus of user funds. According to Coinglass, users withdrew 30,300 BTC ($515 million) in the 24 hours to the time of writing, this accounting for the majority of the week’s 40,150 BTC total. The abnormal behavior comes as Binance …

A golden cross pattern on the charts excites crypto traders for its promises of profitable opportunities ahead, largely due to its impressive success rate in traditional markets. The golden cross tends to preceded sustained uptrends in contrast with the bearish death cross pattern. For instance, since 1970, the S&P 500 has been returning about 15% gains on average in less than a year after a golden cross's occurrence. The golden cross's record in the benchmark crypto asset Bitcoin (BTC) is similarly impressive. Notably, the indicator has appeared seven times on Bitcoin daily charts since 2010, out of which five have …

2022 was a near-unprecedented year of extremes and black swan events for the crypto market, and now that the year is about to wrap up, analysts are reflecting on the lessons learned and attempting to identify the trends which may point to bullish price action in 2023. The collapse of Terra Luna, Three Arrows Capital and FTX created a credit crunch, a severe reduction in capital inflows and an increased threat that additional major centralized exchanges could collapse. Despite the severity of the market downturn, a few positives have emerged. Data shows long-term hodlers and smaller-sized wallets are actively accumulating …

The consumer price index (CPI) data on Dec. 13 and the outcome of the Federal Reserve meeting on Dec. 14 could influence the United States stock markets and the cryptocurrency markets in the near term. Traders are likely to play it safe and not take large directional bets until the CPI print because any nasty surprise could produce a sharp knee-jerk reaction. Some analysts believe that Bitcoin (BTC) could fall further before it hits a bottom, but Arthur Hayes, the former CEO of crypto derivatives platform BitMEX, thinks that Bitcoin may have passed its worst phase for this cycle. While …

Bitcoin (BTC) failed to break above the $17,250 resistance on Dec. 11 and subsequently faced a 2.2% correction. More importantly, the last daily close above this level was over 30 days ago — reinforcing the thesis of size sellers near the $330 billion market capitalization mark. Curiously, this valuation level is slightly behind Palladium, the world's 23rd most valuable traded asset with a $342 billion capitalization. So from one side, Bitcoin bulls have some reasons to celebrate because the price recovered 10% from the $15,500 low on Nov. 21, but bears still have the upper hand on a larger time …

Despite the ongoing bear market, Jan3 CEO and Bitcoin (BTC) proponent Samson Mow believes that the leading cryptocurrency could reach the $1-million-price benchmark in the next five to 10 years. The collapse of major fiat currencies will be a major catalyst, which he said can “happen very rapidly” and “are not anticipated.” ”It just sort of happens overnight, and then you are shoveling cash into a wheelbarrow,” he said in a recent interview with Cointelegraph. Mow made his prediction while commenting on the current state of Bitcoin adoption in El Salvador, about a year after it was adopted as a …

Bitcoin (BTC) stayed steady near $17,000 at the Dec. 12 Wall Street open as news involving Binance failed to spark BTC price downside. Factors line up to "scare" Bitcoin trade Data from Cointelegraph Markets Pro and TradingView showed BTC/USD avoiding fresh volatility as United States markets opened. Having traded sideways throughout the weekend, the pair offered few cues to analysts, who were waiting for U.S. macroeconomic data to shake up the status quo. This, in the form of the November Consumer Price Index (CPI) print, would nonetheless be a pivotal moment for crypto assets, they agreed, with the potential for …

The Doji candlestick, also called a Doji star, shows indecision between buyers and sellers in the crypto market. This type of candlestick is confirmed on a technical analysis chart when the opening and closing prices are almost identical. What is a Doji pattern on the candlestick chart? In simple terms, a Doji shows that an asset's buyers and sellers offset each other. In doing so, any attempts to push up the price by the buyers get thwarted by the sellers. Similarly, efforts to crash the prices from the sellers' end get foiled by the buyers. Ultimately, both parties bring the …

Bitcoin (BTC) starts one of the most important macro weeks of the year in a precarious position below $17,000. After its latest weekly close, BTC/USD showed little upward momentum prior to the Dec. 12 Wall Street open. With volatility yet to appear, the largest cryptocurrency continues to trade in a narrow range, and analysts are increasingly impatient for new catalysts. These, they agree, should come in the next few days — United States economic data is due, and its content and impact on economic policy will likely have a significant impact on crypto markets. Elsewhere, the uneasy status quo continues …

The relief rally in the United States equities markets took a breather this week as all major averages closed in the red. Traders seem to have booked profits before the busy economic calendar next week. The S&P 500 index dropped 3.37%, but a minor positive for the cryptocurrency markets is that Bitcoin (BTC) has not followed the equities markets lower. This suggests that crypto traders are not panicking and dumping their positions with every downtick in equities. The range-bound action in Bitcoin suggests that traders are avoiding large bets before the Federal Reserve’s rate hike decision on Dec. 14. However, …

Bitcoin (BTC) is too “decentralized and transparent” for former FTX CEO Sam Bankman-Fried, says Cathie Wood. In a tweet on Dec. 10, Wood, who is CEO of investment giant ARK Invest, delivered a fresh damning appraisal of the FTX saga. Wood: SBF "couldn't control" Bitcoin As the legal ramifications of FTX and Bankman-Fried, also known as SBF, continue, Bitcoin loyalists are giving him little sympathy. ARK’s Wood is now firmly among them, not mincing her words as BTC price action continues to trade around 20% down over the month. “The Bitcoin blockchain didn’t skip a beat during the crisis caused …