Bitcoin dropped about 7% to $61,233 and gold fell below $4,200 per ounce amid concerns over rising US inflation and geopolitical tensions after US strikes on Iranian targets. The recent Bitcoin rally was driven by short liquidations exceeding $500 million rather than real buying interest, with institutional investors continuing to withdraw from US spot Bitcoin ETFs. Equity futures also declined due to heightened Middle East tensions, while markets focus on upcoming US inflation data that could influence Federal Reserve rate hikes. The situation raises questions about Bitcoin's role as a macroeconomic hedge if gold stabilizes and Bitcoin continues to weaken.
Mike McGlone, a Bloomberg Intelligence strategist, warns that US stocks and Bitcoin may face a significant correction due to extreme valuations. The ratio of US stock market capitalization to GDP has reached about 2.5 times, a near 100-year high, sig...
Bitcoin price odds for June 10 and June 15 have dropped significantly, reflecting reduced confidence in Bitcoin reaching higher price levels amid broader market declines. This shift aligns with investor caution ahead of the US Consumer Price Index (C...
More than 8.33 million Bitcoin are now held at an unrealized loss following a market correction that pushed prices below $60,000. Data from Glassnode shows a sharp rise in Bitcoin supply in loss, reflecting many investors buying near recent highs now...
Bitcoin is trading near $61,000 ahead of U.S. May inflation data expected to show a 4.2% year-on-year rise, the highest in three years. This inflation figure, well above the Fed's 2% target, could increase expectations for interest rate hikes, pressu...
Crypto markets are under pressure with bitcoin dropping below $61,500 and trading under its 200-week moving average, signaling a potential prolonged bear market. Traders are increasingly shorting major tokens like bitcoin, ether, and XRP, reflecting ...
