Bitcoin (BTC) heads into the first week of September on a rocky road downhill after United States markets’ Jackson Hole rout. After the U.S. Federal Reserve reinforced hawkish comments on the inflation outlook, risk assets sold off across the board, and crypto is still reeling from the aftermath. A fairly nonvolatile weekend did little to improve the mood, and BTC price action has returned to focus on areas below $20,000. In so doing, multiple weeks of upside have effectively disappeared, and in turn, traders and analysts expect a retest of the macro lows seen in June this year. While all …

Bitcoin (BTC) inched closer to $22,000 on Aug. 25 as realized price provided the next major hurdle for bulls. Realized price inspires confidence Data from Cointelegraph Markets Pro and TradingView showed BTC/USD grinding higher overnight to come face to face with $21,700. That level, coinciding with realized price, had marked the key flip zone to target for bullish continuation the day prior, but at the time of writing, Bitcoin had yet to push beyond it or convincingly turn it to support. “At realized price again,” analyst Root summarized alongside a chart showing interaction between realized price and spot price during …

Bitcoin (BTC) headed for multi-day highs after the Aug. 23 Wall Street open as United States economic data tripped up the dollar. Dollar suffers as data shows incomes "squeezed" Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it eyed $21,700 at the time of writing, near resistance in place since last week’s near-12% drop. The pair gained momentum as U.S. Purchasing Managers Index (PMI) prints for August showed a drop versus the month prior, hitting the lowest levels since May 2020 at the height of the first round of COVID-19 lockdowns. “The S&P Global Flash US Services Business …

Bitcoin (BTC) hodlers are feeling the squeeze this week as repeated tests of lower levels spark increasing losses. Data from on-chain analytics firm Glassnode shows more wallets are in the red as of Aug. 23 than at any time in the past month. Over 17.5 million wallets in the red BTC/USD has seen five trips below $21,000 since the end of Aug. 19, data from Cointelegraph Markets Pro and TradingView shows, and the quest for support is already making plenty of traders nervous. Meanwhile, those who bought in in recent weeks are underwater to varying degrees, as Bitcoin is at …

Scott Beck, chief executive officer of United Texas Bank, called on members of the state’s blockchain working group to recommend policy for leaving stablecoins to banks rather than crypto firms. Speaking before the Texas Work Group on Blockchain Matters in Austin on Friday, Beck suggested limiting the issuance of U.S. dollar-backed stablecoins to licensed banks rather than issuers like Circle. The United Texas Bank CEO cited a November report from the President’s Working Group on Financial Markets, in which the group said stablecoin issuers should be held to the same standards as insured depository institutions including state and federally chartered …

In a step toward greater transparency and better alignment with international accounting standards, stablecoin operator Tether Holdings Limited has tapped BDO Italia to conduct regular reviews and attestations of its dollar reserves. Tether, which operates the USDT stablecoin, officially began working with BDO Italia in July, the company disclosed on Thursday. BDO Italia will be responsible for conducting an independent review of Tether’s stablecoin reserves to ensure that each unit of USDT is backed by cash or cash equivalents. Through BDO’s reviews, Tether aims to release public attestation reports monthly instead of quarterly. The attestations will include updates about the …

Bitcoin (BTC) dropped to weekly lows at the Aug. 17 Wall Street open as upcoming Federal Reserve comments unsettled risk assets. Dollar climbs as Fed minutes due Data from Cointelegraph Markets Pro and TradingView tracked a more than 2% daily decline on BTC/USD, which hit $23,325 on Bitstamp. Already showing signs of weakness, the pair slid further as United States equities began trading, hours before the Federal Open Markets Committee (FOMC) was due to release minutes from its latest meeting. While not involving a decision on interest rates, the meeting was cued to give an insight into the Fed’s thinking …

Bitcoin (BTC) regained $24,000 but failed to hit new multi-month highs on Aug. 10 as United States inflation appeared to be slowing. CPI cuts risk assets much-needed slack Data from Cointelegraph Markets Pro and TradingView confirmed hourly gains of around $1,000 after U.S. Consumer Price Index (CPI) data for July showed a slowdown versus the previous month. While managing $24,179 on Bitstamp, BTC/USD nonetheless did not attract enough momentum to challenge levels from the day prior. Nonetheless, relief among traders was palpable, as declining inflation should signal to the Federal Reserve that less aggressive interest rate hikes are necessary going …

Decentralized finance (DeFi) has massive potential to transform traditional financial services. Data from Emergen Research recently found that the global DeFi platform market size is expected to reach $507 billion by 2028. Moreover, the total value locked within DeFi currently exceeds $75 billion, demonstrating fast-paced growth compared to previous months this year. Yet, DeFi’s potential may still not be realized by business leaders unfamiliar with the blockchain ecosystem. This notion is highlighted in Alex Tapscott’s recent book, Digital Asset Revolution. Tapscott, co-founder of the Blockchain Research Institute and managing director at Ninepoint Digital Asset Group, told Cointelegraph that he believes …

Bitcoin (BTC) avoided losses as United States equities dived on the July 14 Wall Street open, but traders remained nervous. Analyst: "No way" Bitcoin bottomed at $17,500 Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it lingered around $20,000 on the day. Wall Street opened with losses, the S&P 500 and Nasdaq Composite Index both down around 1.8% at the time of writing. Bitcoin nonetheless managed to hold its own as the largest cryptocurrency's correlation to stocks fell to its lowest levels of 2022 so far. That said, few were willing to say that the worst was over …

Bitcoin (BTC) found a new focus at just under $20,000 on July 14 as United States dollar strength hammered out yet another two-decade high. DXY moves bring yen, euro into focus Data from Cointelegraph Markets Pro and TradingView showed BTC/USD rebounding from lows sparked by a fresh 40-year high for U.S. inflation as per the Consumer Price Index (CPI). After briefly dipping under $19,000, the pair took a flight above $20,000 before consolidating immediately below that psychologically significant level. For on-chain analytics resource Material Indicators, it was now “do or die” for BTC price action when it came to a …

There is an old saying, “cash is king,” but if it is sitting in a bank account or, in the case of crypto — a wallet, it diminishes daily due to inflation. This is especially the case now as inflation in the United States breaks its 40-year record. While the dollar-cost-averaging (DCA) strategy allows an investor to minimize the effects of volatility by purchasing an unstable asset in time intervals, inflation still causes a decrease in a target asset’s value over time. For instance, Solana (SOL) has a pre-set protocol inflation rate of 8%, and if the yield is not …