On Aug. 30, global investment bank UBS increased its view on the risk of the United States entering a recession within one year to 60%, up from 40% in June. According to economist Pierre Lafourcade, the latest data showed a 94% chance of the economy contracting, but added that it "does not morph into a full-blown recession." Partially explaining the difference is the "extremely low levels" of non-performing loans, or defaults exceeding 90 days from credit borrowers. According to Citigroup Chief Executive Jane Fraser, the institution "feels very good about" liquidity and credit quality. Furthermore, Reuters states that the financial …

Ether (ETH) is the second largest crypto by market capitalization and the absolute leader in decentralized applications by deposits. Becoming a victim of its own success, the network experienced a fee hike in November 2021 when the average transaction costs surpassed $50. That's precisely why the Merge is a critical step to implementing a fully functional scaling solution. The confirmation of a transition to a proof of stake (PoS) consensus was the main driver for the rally toward $2,000 on Aug. 15. Investors were partially excited about the reduced issuing schedule and likely a transition to a deflationary scenario, but …

Bitcoin (BTC) fell back below $20,000 after the Aug. 30 Wall Street open as data showed hodlers selling at a loss. June lows look increasingly attractive Data from Cointelegraph Markets Pro and TradingView captured the latest dive below the 2017 bull market peak for BTC/USD, with United States equities dropping in step. The S&P 500 and Nasdaq Composite Index lost 1.1% and 1.25% in the first hour, respectively, while BTC/USD shed 2.5% during a single hourly candle. The latest moves came as no surprise to traders already wary of a deeper correction for the largest cryptocurrency. Previously, many had called …

Bitcoin (BTC) hodlers are asking questions after 10,000 BTC dormant since 2013 suddenly left its wallet. On-chain data flagged on Aug. 28-29 confirmed a large tranche of bitcoins had become liquid again after nearly a decade. "Lawless era" bitcoins hit the road Analysts first began to notice curiously high transaction volumes this weekend as 5,000 BTC was included in a block. Having stayed in the same wallet since 2013, the funds, the owner of which remains unknown, were soon joined by a near identical 5,000 BTC a day later. In total, 10,000 BTC moved for the first time since 2013, …

There is no denying that nonfungible tokens (NFTs) have taken a hit in recent months. Market conditions have plunged, scams and hacks are frequent, and there is an increasing number of low-quality projects, pushing many to question the value of NFTs and their place in Web3 altogether. Over the last crypto cycle, NFT market conditions have been largely correlated to and reliant upon the general crypto market. As technology and digital assets soared in valuation, it became easier for individuals and investors to justify speculating on the nascent NFT asset class — often paying exorbitant premiums with the conviction that …

The United States equities markets are attempting to stabilize after the carnage on Aug. 26. On similar lines, Bitcoin (BTC) is also witnessing a see-saw battle near the psychological level of $20,000 with both the bulls and the bears vying for supremacy. Although several analysts are bearish on Bitcoin in the near term, it has not stopped the whales from accumulating at lower levels. Data from on-chain research firm Santiment shows that the number of whale addresses holding between 100 to 10,000 Bitcoin has risen by 103 in the past 30 days. In bear markets, rumors spread fast and could …

Bitcoin (BTC) regained some lost ground at the Aug. 29 Wall Street open amid talk of an imminent short squeeze. Shorts lose out in modest squeeze higher for BTC Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing to near $20,400 on Bitstamp as United States equities began trading. The move signaled welcome relief for hodlers, who had looked on as the pair dove increasingly below $20,000 during the weekend. Now, with the market “aggressively short positioned,” conditions appeared to favor a further relief bounce to burn those nursing short trades. Looks like we're doing a little bearbecue. https://t.co/smRfCWC2C0 …

The cryptocurrency market overall endured a bad summer on back-to-back pieces of bad news, ranging from Terra's collapse to the Celsius Network's liquidity crisis. But some tokens have bucked the downtrend and have actually seen their valuations go up over the summer. Specifically, the last 90 days have seen these so-called alternative cryptocurrencies, or "altcoins," outperforming top coins like Bitcoin (BTC) and Ether (ETH). Here are three among them Chiliz (CHZ) Chiliz's (CHZ) return in the last 90 days comes to be above 80%, the highest among the top-cap cryptocurrencies. Moreover, CHZ is down only 26% year-to-date compared with BTC …

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 …

The United States equities markets plunged on Aug. 26 following Federal Reserve Chair Jerome Powell’s speech where he reiterated the central bank’s hawkish stance. Continuing its correlation with the equities market, Bitcoin (BTC) and the cryptocurrency markets also witnessed a sharp selloff on Aug. 26. Bitcoin has declined about 14% this month, making it the worst performance for August since 2015 when the price had dropped 18.67%. That may be bad news for investors because September has a dubious record of a 6% average loss since 2013, according to data from CoinGlass. Although buying in a downtrending market is not …

Bitcoin (BTC) looked set to equal its lowest monthly close since 2020 on Aug. 28 as bulls failed to take control. Odds stack up for a deeper dive below $20,00 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD criss-crossing $20,000 with hours until the weekly candle completed. The pair had been unable to make up for lost ground over the weekend, and just days from the end of the month, even $20,000 appeared vulnerable as support. At the time of writing, Bitcoin traded near $19,900 — below June’s closing price. “It didn't matter what kind of lines or squiggles …

BItcoin (BTC) is on track to see its worst August performance since the 2015 bear market — and next month may be even worse. Data from on-chain analytics resource Coinglass shows that BTC/USD has not had an August this bad for seven years. September means average 5.9% BTC price losses After two major BTC price comedowns in recent weeks, Bitcoin hodlers are understandably fearful — but historically, September has delivered even worse performance than August. At $20,000, BTC/USD is down 14% this month, making this August the biggest loser since 2015, when the pair posted an 18.67% red monthly candle. …