Bitcoin price briefly rose to around $63,150 before falling back to about $62,800 following the release of the US May Producer Price Index (PPI), which showed inflation at 6.5%, the highest since November 2022 and above expectations. This hotter-than-expected inflation data increased concerns about prolonged Federal Reserve rate hikes, which typically reduce liquidity and pressure risk assets like Bitcoin. Despite the dip, Bitcoin's reaction was moderate, suggesting some inflation risk was already priced in. Traders are now watching key support at $61,000 and resistance near $63,000 to gauge Bitcoin's next move amid ongoing inflation and Fed policy uncertainty.
Bitcoin traded near $64,500 as trading volume declined and market sentiment remained cautious despite stable on-chain activity and exchange outflows. The Crypto Fear & Greed Index stayed at 'extreme fear,' indicating low investor confidence. While tr...
Bitcoin's price slightly fell to $64,164, reflecting broader market caution as equity indices and financial indicators like the US 10-year yield and DXY suggest tighter conditions. Meanwhile, Ethereum gained 2.09% to $1,908, showing selective investo...
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...
