Bitcoin (BTC) could not overcome the barrier at $25,000 on Aug. 11 even though it had two catalysts in the form of a "favorable" Consumer Price Index print and news that BlackRock — the world's largest asset manager, overseeing over $10 trillion in total assets — had launched a spot Bitcoin investment product. In comparison, Ether (ETH) has managed to hold on to its recent gains on news that the Goerli testnet had successfully activated proof-of-stake, clearing the path for Ethereum’s mainnet transition planned for Sept. 15 or Sept. 16. Data from Santiment shows that Ether whale transactions have increased …

The Aug. 10 Consumer Price Index (CPI) report shows year-over-year inflation rose 8.5% in July and while this figure is below economists’ expectations of 8.7%, it is still high. Although inflation remains much higher than the Federal Reserve's 2% target, the marginal slowdown raises hopes that the rate hikes by the Federal Reserve have started to work. That has reduced the probability of a 75 basis point rate hike in the September meeting from 68% on Aug. 9 to 37.5% according to CME group data. Risky assets, including the cryptocurrency markets, responded positively to the CPI print. Compared to Bitcoin …

The United States equities markets and the cryptocurrency markets have started the week on a strong note, indicating that traders are not nervous about buying ahead of the important Consumer Price Index (CPI) data for July which will be released on Aug. 10. Another positive sign is that the recent recovery in Bitcoin (BTC) has not tempted investors to exit their positions in fear of another leg down. Glassnode data shows that the percentage of supply that has stayed dormant for three or more years rose to a new all-time high of 38.426% on Aug. 8. BlackRock CEO Larry Fink …

The recovery in the cryptocurrency markets is being led by Bitcoin (BTC), which has risen above the $21,000 level. However, BlockTrends analyst Caue Oliveira said that on-chain data shows a decline in “whale activity” since the month of May, barring the flurry of activity during the Terra (LUNA) — since renamed Terra Classic (LUNC) — collapse. A survey conducted in China shows that most participants believe that Bitcoin could fall much further. About 40% of the participants said they would buy Bitcoin if the price dropped to $10,000. Only 8% of the voters showed interest in buying Bitcoin if it …

The United States Consumer Price Index soared to 9.1% in June, exceeding expectations of an 8.8% rise year-on-year. Currently, the Fed funds futures point to an 81 basis points rate hike for July, suggesting that some participants anticipate a 100 basis points hike. Several on-chain indicators have been pointing to a likely bottom in Bitcoin (BTC) but the analysts from market intelligence firm Glassnode are not convinced that the low has been made. In “The Week On-Chain” report on July 11, the analysts said that the market may have to fall further “to fully test investor resolve, and enable the …

Dogecoin (DOGE) has missed a much-anticipated technical upside target and is down nearly 10% over the past week amid an ongoing spat between Elon Musk and Twitter. Musk hurts DOGE price To recap, Musk, whose companies Tesla, SpaceX and Vegas Loop accept DOGE payments, had suggested introducing the same checkout option on Twitter this April. Bitcoin spoofs a breakout while Dogecoin jumps on Elon Musk's Twitter takeover news. https://t.co/dlMH5u5jaf — Cointelegraph (@Cointelegraph) April 25, 2022 Nonetheless, the Musk-Twitter deal hturned sour after the billionaire attempted to walk away from his $44 billion takeover bid. In response, the platform has sued …

The United States dollar index (DXY) resumed its strong uptrend on July 11, indicating that investors are preparing for the July 13 CPI report to be hotter than expected. A survey of economists by Bloomberg estimates that in June consumer prices surged to 8.8%, a four-decade high. Arthur Hayes, the former CEO of derivatives trading platform BitMEX, believes that the U.S. dollar and the euro were moving towards hitting parity. If that happens, the central banks will have to adopt yield curve control, which could lead to the disintegration of the currency and ultimately benefit Bitcoin (BTC). Glassnode analyst James …

Bitcoin (BTC) rallied to the 200-week moving average on July 8, a level that could act as a battleground between the bulls and the bears. Several analysts are watching this level because a break and close above it could be the first sign that the bear market may be ending. Bloomberg senior commodity strategist Mike McGlone said that Bitcoin’s 50-week and 100-week moving averages are showing similar signs as made before the 2018 bear market bottom. Therefore, McGlone expects Bitcoin to give a strong rebound in the second half of 2022. Another positive sign is that Bitcoin rose above $22,000 …

Shiba Inu (SHIB) has grown stronger against its top "memecoin" rival Dogecoin (DOGE) in the last two months, in part due to the token's periodic token burning events and a flurry of project announcements that promises to boost its utility. Why is the SHIB price rallying? In detail, SHIB/DOGE gained a little over 40% after bouncing from 0.0001120 on May 12, its lowest level on record. Coin burn is the most logical explanation behind SHIB's recent rally against DOGE. The process involves sending SHIB tokens to a wallet without a master, i.e., removing them out of circulation permanently against the …

Elon Musk’s tunnel construction firm The Boring Company (TBC) has begun allowing customers to pay for rides on its Las Vegas transit system using Dogecoin (DOGE) A Wednesday report from CNBC said the new payment option via BitPay surfaced on July 1, a day after the opening of its new Loop station at the Las Vegas Convention Center. While The Boring Company has not officially confirmed the new payment method, founder Elon Musk seemingly did when he responded to a tweet about the news, saying: “Supporting Doge wherever possible.” Supporting Doge wherever possible — Elon Musk (@elonmusk) July 6, 2022 …

Bitcoin (BTC) is attempting to rise above the psychological level of $20,000 on July 6, a sign that bulls are trying to stall the brutal bear market. The retail traders are making the most of the current fall and are on a buying spree. Proof of this comes from Glassnode data, showing that wallets holding less than one Bitcoin scooped up 60,460 Bitcoin in June, at “the most aggressive rate in history.” In a recent report, Glassnode analysts said that the activity on the Bitcoin network shows that “all speculative entities, and market tourists have been completely purged from the …

The crypto markets have remained relatively stable over the weekend and on July 4, which is a holiday for the United States financial markets due to Independence Day. Although Arthur Hayes, former CEO of derivatives platform BitMEX, was expecting a “mega crypto dump” around July 4, it has not materialized. The drop in Bitcoin’s (BTC) volatility in the past few days has resulted in the squeezing of the Bollinger Band’s width. This indicates a possible increase in volatility in the next few days, according to popular analyst Matthew Hyland. Meanwhile, crypto investors seem to be waiting for clues from the …