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.
Bitcoin miners are under financial pressure, leading them to sell more BTC and reduce mining capacity, causing a 21% drop in the 30-day Mean Hash Rate. This miner selling returns BTC to circulation, increasing supply near Bitcoin's lower price range ...
Bitcoin's recent low volatility suggests a potential 30% price move soon, according to Fundstrat's research. However, past patterns show this move could be either up or down, creating uncertainty. Rising U.S. 10-year Treasury yields may pressure Bitc...
Cryptocurrency markets display mixed price changes, with Bitcoin rising 1.7% to $64,751 and Ethereum up 0.6% at $1,914. Other altcoins show varied performance, with some gaining modestly while others decline. This volatility reflects ongoing market u...
Fundstrat's Tom Lee predicts Ethereum will significantly outperform Bitcoin in the coming years due to stronger market drivers. Unlike past cycles driven by ICOs, NFTs, and stablecoins, the next growth phase for Ethereum is expected to be fueled by W...
Cryptocurrency markets display mixed price changes, with Bitcoin rising 1.1% to $64,740 while Ethereum remains flat at $1,908. Several altcoins like Binance Coin and XRP show slight declines or minimal changes. This reflects ongoing market volatility...
