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, pressuring bitcoin to fall below $60,000. The market reaction will hinge on whether inflation is broad-based or concentrated in energy prices, which may be seen as temporary. Traders are pricing in higher rates by year-end, suggesting volatility ahead, with bitcoin's direction largely dependent on the inflation report's details.
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 ...
Audiera's BEAT token rose sharply to about $5.44 on June 10, gaining 28% in one day and 343% over the past week, despite a broadly declining cryptocurrency market. This rally was driven by increased leverage and a short squeeze, with $4.2 million in ...
On June 9, XRP spot ETFs drew $7.44 million in net inflows, surpassing Solana, Bitcoin, and Ethereum ETFs, which saw outflows. This indicates growing institutional interest in XRP investment products even as XRP's price struggles, trading near $1.11 ...
Grayscale's recent report suggests Bitcoin is currently undervalued based on on-chain data, though it hasn't reached the deep discount levels seen in past crashes like after the FTX collapse. Their composite valuation indicator, which combines unreal...
Bitcoin fell 2.4% to $61,647 as whale wallets tested exchange inflows, indicating cautious profit-taking rather than broad accumulation. The total crypto market cap remains steady at $2.2 trillion with Bitcoin dominance at 56%, limiting altcoin gains...
