Bitcoin's price is closely tied to oil prices, with analysts noting that a sustained 15-16% drop in crude could boost expectations for Federal Reserve rate cuts, potentially pushing Bitcoin toward $80,000. The recent US-Iran ceasefire briefly lowered oil prices below $100 a barrel, helping Bitcoin rebound above $70,000. However, renewed hostilities around the Strait of Hormuz threaten to push oil prices back up, which could keep inflation high and limit the Fed's ability to cut rates. This creates a binary outlook: if oil stays low, Bitcoin could rally strongly; if oil rises above $100 again, Bitcoin's gains may stall or reverse.
Bitcoin recently rallied to $65,086, its highest close since late June, driven mainly by softer US inflation data that lowered expectations for Federal Reserve rate hikes. However, Bitfinex reports that this rally lacks sustained spot buying and depe...
Veteran trader Peter Brandt has identified a potential "inverted head and shoulders" bottom pattern in Bitcoin's price, suggesting a possible shift in momentum. However, he cautions that the pattern is unconventional and not yet confirmed. Meanwhile,...
Ethereum rose 3.17% to $1,923.53, outperforming Bitcoin's modest 0.18% gain to $64,588.87, signaling an early rotation toward large-cap altcoins. Despite this, overall market activity slowed, with declines in DeFi, stablecoin, and derivatives trading...
Ether has surged about 11% over the past week, outperforming other major cryptocurrencies like Bitcoin, which rose 4%. This rise is driven by $96 million inflows into U.S. spot ether ETFs, mainly BlackRock’s low-fee funds, while Grayscale’s higher-fe...
Bitcoin's price surged to nearly $65,000 following softer-than-expected U.S. inflation data for June, easing fears of Federal Reserve rate hikes. However, on-chain data reveals two main groups of investors—long-term holders who bought near last year'...
