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Bitcoin corrects as US inflation data emerges — Is the rally to $100K at stake?

November 15, 2024 Coin Telegraph

Bitcoin corrects as US inflation data emerges — Is the rally to 0K at stake?

Bitcoin’s correction reflects investors’ inflation concerns and highlights the potential impact of future US fiscal policies.

Bitcoin (BTC) traded down by 4.1% on Nov. 14 following US inflation data that marginally exceeded market expectations. This decline mirrored the S&P 500 index futures, which fell from 6,023 to 5,980 over four hours.

As a result, traders are now questioning the extent of this correlation and when Bitcoin’s inflation-hedging attributes might offer some protection in an environment of persistent inflation.

S&P 500 index futures (left) vs. Bitcoin/USD (right). Source: TradingView

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$33,000,000,000,000 ‘Wall of Debt’ Descending on Globe As Governments Face Financial Day of Reckoning: Report

November 10, 2024 The Daily Hodl

Daily Hodl

Governments around the world are facing a major day of reckoning on trillions of dollars of debt. A so-called “maturity wall” of debt that advanced economies must refinance will descend by 2026. And that great wall of debt is projected to accumulate to more than $33 trillion by the time it needs refinancing, reports the […]

The post $33,000,000,000,000 ‘Wall of Debt’ Descending on Globe As Governments Face Financial Day of Reckoning: Report appeared first on The Daily Hodl.

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Bitcoin price metrics align to project further upside for BTC

November 6, 2024 Coin Telegraph

Adoption

Bitcoin options and futures markets display moderate optimism after a new BTC all-time high, which could be indicative of new price highs.

Bitcoin (BTC) surged by 10.5% to hit a new all-time high at $75,350 from Nov. 5 to Nov. 6 following former US President Donald Trump's win in the 2024 election.

Despite the recent price fluctuations, the market is demonstrating a strong foundation that supports continued growth. Bitcoin derivatives highlight the robust improvement in sentiment and the absence of excessive leverage, which are essential for gains above $75,000.

Bitcoin 2-month futures annualized premium. Source: Laevitas.ch

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JPMorgan Chase, Bank of America Forecast New Rate Cut in November As Fed President Says Soft Landing Likely: Report

October 16, 2024 The Daily Hodl

Bank of America

Two of the largest banks in the US believe another rate cut from the Federal Reserve is incoming. The Fed started its rate-cutting cycle last month, announcing a 50 bps reduction in interest rates amid concerns about the health of the US economy. Now, analysts at JPMorgan Chase and Bank of America (BofA) think the […]

The post JPMorgan Chase, Bank of America Forecast New Rate Cut in November As Fed President Says Soft Landing Likely: Report appeared first on The Daily Hodl.

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$6,470,000,000,000 Crammed Into Money Market Funds As JPMorgan Chase Issues Rate Cut Warning

October 13, 2024 The Daily Hodl

bank

Investors have now deposited a record $6.47 trillion into money market funds, according to a new report. In the last week alone $11 billion has entered the funds, reports Bloomberg, citing data from the Investment Company Institute. Investors flocked to money market funds as the Federal Reserve raised interest rates to get higher yields on […]

The post $6,470,000,000,000 Crammed Into Money Market Funds As JPMorgan Chase Issues Rate Cut Warning appeared first on The Daily Hodl.

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Why is Ethereum (ETH) price underperforming compared to the wider crypto market

September 4, 2024 Coin Telegraph

Coin Telegraph

Ether price continues to plunge as troubled investors worry about the lack of spot Ether inflows, declining Ethereum network fees and a potential tech stock bubble bursting.

Ether (ETH) price is down 5.2% between Sept. 3 and Sept. 4 after a strong rejection at the $2,550 resistance, marking eight days since ETH last closed above that level.

Traders are now concerned that Ether may underperform even if the broader crypto bull market resumes, as incentives for fixed income in the US are expected to decrease. So, exactly what is putting pressure on Ether's price?

Some market participants may attribute the lackluster performance of cryptocurrencies to traditional financial market conditions, but Ether is also facing its own set of challenges, including lower network fees, appealing staking rewards, and weak demand for its recently launched spot exchange-traded fund (ETF) products. Therefore, it’s worth exploring whether these factors will continue to drive Ether’s price down in the future.

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Bitcoin price loses traction as miner profits drop and spot BTC outflows persist

September 3, 2024 Coin Telegraph

Coin Telegraph

Bitcoin has lost more than 10% in the past two weeks as fear of a US recession, spot Bitcoin ETF outflows and the threat of miner capitulation grows.

Bitcoin (BTC) price dropped 10% over the 10 days ending on Sept. 3, falling from $64,190 to $57,800. This decline occurred despite the S&P 500 index being just 2% below its all-time high and gold trading only $50 away from its historical peak. While some cryptocurrency investors attribute Bitcoin’s dip to the broader macroeconomic environment, other factors are also pushing its price below $59,000.

Source: DamiDefi

Trader DamiDefi explains that Bitcoin has been influenced by recession concerns in the United States, but that trend is stabilizing as the focus shifts to “monetary policy and the US dollar’s performance.” The “bullish narrative” for Bitcoin going forward will hinge on the expectation of a “looser Federal Reserve policy, [...] such as lowering interest rates.” Essentially, traders anticipate that the US will be compelled to implement expansionary measures to stimulate the economy.

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Bitcoin price volatility expected at Fed September FOMC meeting — Here’s how to prepare

August 30, 2024 Coin Telegraph

Call

Bitcoin traders expect BTC to rally if the Fed rolls out a 0.50% rate cut, but hedging these bullish positions is also necessary. Here is how it's done.

Bitcoin (BTC) has repeatedly failed to close above the $62,000 level since Aug. 3 and is currently down 11% over the past 30 days. More notably, the cryptocurrency has decoupled from the S&P 500 index, which is up 1% in the same period and only 1% below its all-time high.

Bitcoin price in USD (right) vs. S&P 500 futures (left), 12-hour. Source: TradingView

Investors expect that risk markets, including Bitcoin, could see significant gains if the Federal Reserve (Fed) cuts interest rates, and professional traders are using BTC options to maximize gains while limiting risks.

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Bitcoin price keeps falling under $60K — Here is why

August 30, 2024 Coin Telegraph

Bitcoin price keeps falling under K — Here is why

bonds

Many analysts say a drop in spot Bitcoin ETF demand is the primary reason for BTC’s price weakness, but there’s more to it than that.

Bitcoin (BTC) has struggled to maintain above $60,000 for an entire week, with the latest rejection occurring on Aug. 27. The subsequent 9.9% two-day correction, which saw Bitcoin fall to a low of $57,918 on Aug. 28, resulted in the forced liquidation of $143 million in leveraged BTC longs on derivatives exchanges. Traders are now questioning why Bitcoin keeps failing to break above $60,000.

Some analysts attribute the recent weakness to the disappointing spot Bitcoin exchange-traded fund (ETF) outflows. However, such data is typically reflexive, meaning traders often turn bearish after a news event alters their perception. More crucially, Bitcoin's most recent correction on Aug. 29 coincided with movements in the S&P 500 index.

Bitcoin/USD (left) vs S&P 500 futures (right). Source: TradingView

Dogecoin (DOGE) Rival FLOKI Rips After Coinbase Announces Potential Future Listing

JPMorgan Prepares Investors for September Rate Cut With Dual Investment Approach

August 17, 2024 Bitcoin.com

bitcoin.com

Favorable economic data this week bolstered market confidence, leading to a strong rally in equities, JPMorgan explained in a report published on Friday. With the Federal Reserve now likely to cut interest rates in September, the global investment bank advises investors to prepare by adjusting their portfolios accordingly. The futures market predicts a 100% chance […]

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