Bitcoin's recent decline below $60,000 was mainly caused by institutional selling through spot bitcoin ETFs following higher-than-expected U.S. inflation data in April. Since the May 12 inflation report, U.S.-listed bitcoin ETFs saw $5.4 billion in net redemptions, while one major buyer, Strategy, accumulated about $2 billion in bitcoin. The upcoming May CPI report is crucial, as inflation above 4% could signal prolonged Federal Reserve rate hikes, potentially pressuring bitcoin further. Despite a possible short-term bounce, sustained recovery depends on inflation trends and ETF flows remain the key indicator to watch.
Ethereum's price climbed above $1,600, reaching around $1,661, driven by easing selling pressure and improved market sentiment following Bitcoin's recovery above $63,000. Analysts highlight bullish technical signals suggesting a short-term reversal, ...
Bitcoin surged back above $63,000 driven by institutional purchases totaling $101 million and the U.S. Senate debating the Clarity Act, which aims to regulate digital assets. Ethereum also gained, contributing to the total crypto market cap reaching ...
Cryptocurrency prices exhibit varied changes, with Bitcoin trading at $63,444, up 2.75%, and Ethereum rising 3.81% to $1,679.68. Several altcoins like HYPE, NEAR, and DEXE show significant gains, while others like BCH and SIREN experience declines. T...
Bitmine acquired 126,971 ETH valued at about $214 million in one week, increasing its total holdings to 5.54 million ETH, worth nearly $9.3 billion. This purchase represents 4.59% of Ethereum's circulating supply, with the company aiming to reach 5% ...
Bitwise CEO Hunter Horsley advises crypto investors to adopt a long-term perspective, emphasizing fundamentals like usage, technology, and institutional adoption rather than short-term price moves. Bitcoin is currently testing support near $60,000 to...
