Bitcoin (BTC) carried through threats of new local lows on July 12 as the White House warned of “highly elevated” inflation. White House warns ahead of "decisive day" Data from Cointelegraph Markets Pro and TradingView showed BTC/USD approaching $19,500 prior to the Wall Street open, down over 4% on the day. Having failed to hold $20,300 support, the pair appeared to react badly to comments on the inflation outlook from White House press secretary Karine Jean-Pierre. Markets were already primed for higher than expected figures for June from the Consumer Price Index (CPI), which made new forty-year highs in May. …

From a historical perspective, the loss in value realized across the cryptocurrency market over the past several months has been one for the record books and the total cryptocurrency market cap has declined from $3 trillion to $991 million. June was especially painful for investors after the price of Bitcoin (BTC) fell nearly 40% to mark one of its worst calendar months on record according to a recent report from cryptocurrency research firm Delphi Digital. In light of the strong market correction, a number of BTC price and on-chain metrics have begun to reach levels similar to those seen during …

Bitcoin (BTC) starts another week in a precarious position near $20,000 ahead of fresh macro upheaval. After admittedly sealing its best week’s gains since March, the largest cryptocurrency is struggling to hold onto its recently-reclaimed levels. Major resistance zones remain overhead, and with inflation data due for release later in the week, the coming days could prove unnerving for risk assets everywhere. At the same time, crypto market sentiment is showing signs of recovery, and on-chain metrics continue to underscore what should be Bitcoin’s latest macro price bottom. With conflicting data everywhere, Cointelegraph takes a deeper look at potential market-moving …

The crypto community is looking into three key dates this month that could profoundly impact the trajectory of the crypto market and the wider United States macroeconomic environment this year. On July 13, the monthly Consumer Price Index (CPI) and data relating to inflation will be released to the public. On July 26-27, a decision will be made as to whether to hike interest rates further, while on July 28, the United States Q2 2022 Gross Domestic Product (GDP) estimates will tell us whether the country is in a technical recession. July 13: Inflation marker, CPI Michaël van de Poppe, …

Bitcoin (BTC) has been moving in the opposite direction of the United States dollar since the beginning of 2022 — and now that inverse relationship is more extreme than ever. Bitcoin and the dollar go in opposite ways Notably, the weekly correlation coefficient between BTC and USD dropped to 0.77 below zero in the week ending July 3, its lowest in seventeen months. Meanwhile, Bitcoin’s correlation with the tech-heavy Nasdaq Composite reached 0.78 above zero in the same weekly session, data from TradingView shows. That is primarily because of these markets’ year-to-date performances amid the fears of recession, led by …

Discussion of the state of the crypto market has been a dominant headline over the past few weeks as non-crypto native media excoriate Bitcoin (BTC) and DeFi investors for investing in assets with no fundamental value. At the same time, crypto-savvy analysts and traders have been pouring over charts, looking for clues that signal when the market will bottom and reverse course. Novice investors are clearly nervous and a few have predicted the demise of the burgeoning asset class, but for those that have been around for multiple cycles, this new bear market is just another forest clearing fire that …

Ethereum's native token Ether (ETH) fell on the final trading day of Q2/2022, trading in sync with riskier assets amid persistent fears of higher inflation and rising interest rates. And it could result in further declines heading into Q3. ETH price breakdown underway ETH's price plunged nearly 5% this June 30 to $1,044 following a four-day losing streak. The ETH/USD pair has also broken below its interim rising trendline support, which in conjugation with a horizontal trendline resistance to the upside, constitutes an "ascending triangle" pattern. Ascending triangles are bearish continuation patterns when they occur after a sharp downtrend. Therefore, …

Bitcoin (BTC) held steady at just above $20,000 after the June 29 Wall Street open as Europe's chief banker admitted the world would "never" return to low inflation. Lagarde on inflation: "I don't think we're ever going back" Data from Cointelegraph Markets Pro and TradingView showed BTC/USD looking nonvolatile but precarious as it stuck in a narrow range on the day. United States equities markets were likewise calm after Asian trading had seen fresh losses. In Europe, meanwhile, comments from central bankers set the macro tone. In particular, Christine Lagarde, head of the European Central Bank (ECB), appeared to state …

Bear markets have historically been challenging to navigate for traders and the conventional set of "reliable" indicators that determine good entry points are unable to predict how long a crypto winter might last. Bitcoin’s (BTC) recent recovery back above the psychologically important price level of $20,000 was a sign to many traders that the bottom was in, but a deeper dive into the data suggests that the short-term relief rally might not be enough proof of a macro-level trend change. Evidence pointing to the need for caution was provided in a recent report by cryptocurrency research firm Delphi Digital, which …

Ethereum's native token, Ether (ETH), gained alongside riskier assets as investors assessed weak U.S. economic data and its potential to cool down rate hike fears. Ether mirrors risk-on recovery ETH's price climbed up to 8.31% on June 24 to $1,225, six days after falling below $880, its lowest level since January 2021. Overall, the upside retracement brought bulls 40% in gains, raising anticipation about an extended recovery in the future while alleviating fears of a "clean fakeout." For instance, independent market analyst "PostyXBT" projected ETH's price to close above $1,300 by the end of June. In contrast, analyst "Wolf" feared …

Bitcoin (BTC) checked losses while United States equities drifted down on June 22 as the Federal Reserve kept quiet on monetary policy. Powell keeps quiet on Fed moves Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering near $20,500 at the June 22 Wall Street open. The pair had wicked below the $20,000 mark overnight before recovering, still down from the previous day's $21,700 highs. Markets braced for last-minute surprises from testimony to Congress by Fed Chair Jerome Powell on the day, this ultimately providing no fresh insight into the central bank's approach to taming rampant inflation. "We anticipate …

Canada's Purpose Bitcoin ETF (BTCC) witnessed its Bitcoin (BTC) holdings slashed by half in just one day, suggesting an alarmingly waning buying sentiment among the crypto's most-experienced investors. Purpose Bitcoin ETF has 51% of AUM slashed The fund's holdings dropped from $47,818 BTC to 23,307 BTC between June 16 and 17, its lowest level since October 2021. The 51% drop in BTC holding is also the biggest daily outflow ever. Interestingly, another Canadian crypto fund, dubbed 3iQ CoinShares Bitcoin ETF, witnessed similar outflows, dropping from 23,917 BTC on June 1 to 12,668 BTC on June 17, suggesting the Purpose's massive …