Month: August 2022

Bitcoin price sees $24K, Ethereum hits 2-month high as US inflation shrinks

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Bitcoin (BTC) regained $24,000 but failed to hit new multi-month highs on Aug. 10 as United States inflation appeared to be slowing. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView CPI cuts risk assets much-needed slack Data from Cointelegraph Markets Pro and TradingView confirmed hourly gains of around $1,000 after U.S. Consumer Price Index (CPI) data for July showed a slowdown versus the previous month. While managing $24,179 on Bitstamp, BTC/USD nonetheless did not attract enough momentum to challenge levels from the day prior. Nonetheless, relief among traders was palpable, as declining…

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La inflación interanual en EE. UU. se desacelera a 8,5% en julio y bitcoin sube

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El índice de precios al consumidor (IPC) fue de 8,5% interanual en julio, aunque se mantuvo sin cambios respecto al mes anterior, en parte gracias a los precios más bajos de la energía, según mostró un informe de la Agencia de Estadísticas Laborales. La cifra anual se compara con una estimación promedio de 8,7% en una encuesta de economistas realizada por FactSet. Original

Crypto Exchange Coinbase Stock Is Not Out of the Woods as Market Uncertainty Hovers

“Following a severe drop in asset prices, it is not surprising to see a bit of paralysis in customer engagement, particularly in trading as investors assess where we go from here,” JMP’s Devin Ryan told clients in a note. “Pinpointing the moment of inflection is difficult, but we continue to have conviction that Coinbase remains incredibly well positioned to benefit as the pendulum moves back into the middle, which we believe it inevitably will.” Ryan has a market outperform, and lowered JMP’s price target to $195 from $205. Source

SOL Fails To Notch New 60-Day Peak, Despite Recent Advances

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Price movement for Solana (SOL) looks outright bullish but at the same time sluggish as it’s unable to keep up with buyer demands.   Solana is currently trading sideways forming an ascending triangle pattern. The 50-day EMA serves as its support level. Buyers were on a shopping spree last night which kickstarted the volume pumping it up at 140%. The bulls are in control of SOL price moving it higher, while the bears are trying to take over. Bitcoin’s massive sell-off has impacted other altcoins including SOL. If the current momentum…

Bitcoin Breaks Above $24,000 As U.S. Inflation Dips To 8.5%

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Summary: U.S. Inflation numbers were released on Wednesday, triggering a move in the price of crypto assets. Consumer Price Index data stood at 8.5% for July 2022. The numbers fell from the 9.1% level reported in June. It’s also the first time U.S. Inflation numbers have dipped since April 2022. Cryptos like Bitcoin and Ethereum reacted to the news positively with pumps. Technical analyst Will Clemente previously tweeted that today’s CPI report would determine if a short risk-on bear market rally continued or not. Crypto markets are in green on…

Experts dissect what went wrong

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Decentralized finance protocols continue to be targeted by hackers, with Curve Finance becoming the latest platform to be compromised after a domain name system (DNS) hijacking incident. The automated market maker warned users not to use the front end of its website on Tuesday after the incident was flagged online by a number of members of the wider cryptocurrency community. While the exact attack mechanism is still under investigation, the consensus is that attackers managed to clone the Curve Finance website and rerouted the DNS server to the fake page. Users…

Blockchain’s environmental impact and how it can be used for carbon removal

Climate change has become an important issue over the years due to concerns over environmental changes caused by the emission of greenhouse gasses into the atmosphere. Conversations have even reached the crypto space, and blockchain technology is being considered a potential tool to reduce carbon emissions. Cryptocurrencies like Bitcoin (BTC) and Ether (ETH) that use the proof-of-work (PoW) mining algorithm have come under scrutiny due to their alleged energy expenditure. To see where this scrutiny comes from, it first needs to be known how much energy is used when mining PoW…

ETH Surges Back Above $1,700 as US Inflation Falls to 8.5% – Market Updates Bitcoin News

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Ethereum was once again volatile on Wednesday, as prices of the token fell below $1,700 ahead of the latest U.S. inflation report. However, following the report, which came in at 8.5% in July, the token surged back above this point. Bitcoin was trading lower, as it continued to hover below $24,000. Bitcoin Bitcoin (BTC) was once again trading below $24,000 in today’s session, as the token continued to react to increased levels of market turbulence. Wednesday saw the world’s largest cryptocurrency fall to an intraday low of $22,771.52, which comes…