Bitcoin's 30-day correlation with the U.S. Dollar Index has reached -0.90, its most negative level since 2022, indicating a strong inverse relationship where bitcoin rises as the dollar falls and vice versa. About 81% of bitcoin's short-term price moves are linked to the dollar's shifts. Recently, bitcoin's rally stalled above $79,000 as the dollar rebounded amid geopolitical tensions and inflation concerns, especially due to rising oil prices linked to the Strait of Hormuz disruptions. Despite strong inflows into U.S. spot bitcoin ETFs, major investors remain cautious, with some expecting a meaningful bitcoin recovery only later in the year. Additionally, ether is underperforming bitcoin on key technical measures, suggesting continued weakness relative to bitcoin.
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...
