Bitcoin traded near $63,700 on Aug. 12, with most major cryptocurrencies edging higher ahead of the July U.S. inflation report. Dogecoin and BNB led gains, while Bitcoin struggled to hold above $65,000 amid mixed ETF flows and rising oil prices, which keep inflation concerns elevated. The market awaits the July CPI release, expected to show a slight 0.1% monthly increase and 3.4% annual inflation, which will influence Federal Reserve rate outlooks. Until then, Bitcoin remains range-bound with altcoins showing selective strength and cautious investor sentiment.
Cryptocurrency market prices show a general downward trend with Bitcoin trading at $62,805, down 1.2%. Ethereum and Binance Coin also saw slight declines. Notably, UNI token dropped sharply by 10.8%, and BEAT fell by 32%. Some tokens like ATOM and VV...
Bitcoin is at a critical technical point, trading near its 50-day moving average around $63,456 and pressing against a long-term descending trendline. The key resistance level to watch is $65,400, which if broken, could lead to a move toward $67,000-...
Bitcoin fell to its lowest level since August 3, dropping below $63,000, as spot bitcoin ETFs experienced $192 million in consecutive outflows for the first time since late July. Despite U.S. stocks rising on cooler producer price inflation data, cry...
Large institutional traders on CME have shifted to a modest net long position in Bitcoin futures, with leveraged funds cutting their net short exposure by nearly 40% since May. This change coincides with renewed inflows into spot Bitcoin ETFs and acc...
After the failure of Bitcoin's BIP-110 soft fork aimed at limiting nonfinancial data, Bitcoin blocks were flooded with heavy data like NFTs, challenging censorship efforts. Ripple CTO Emeritus David Schwartz emphasized that in public blockchains, opi...
