Day: January 11, 2024

US CPI Data Could Drive BTC to $50,000

Bitcoin price soared to a 20-month peak of $48,965.41 after the U.S. Consumer Price Index report for December 2023 was released on Jan 11.  The U.S. Bureau of Labor Statistics released the U.S. Consumer Price Index (CPI) report on Jan. 11, showing higher-than-expected inflation figures. Early market reactions saw U.S. stocks stumble as the S&P 500 dropped 1% within five hours of the report. On the flip side, cryptocurrency markets received a massive boost as Bitcoin (BTC) retested the $49,000 area for the first time since May 2022.  U.S. CPI…

Crypto Analyst Reveals Why $0.087 Is A Key Profitable Level To Watch For Dogecoin

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Crypto analyst Skew has highlighted a particular price level for Dogecoin (DOGE), which could turn profits for those invested in the meme coin. He also shared his thoughts on price levels to keep an eye on when positioning for entry in anticipation of an uptrend for DOGE. $0.087 Is The Dogecoin Price Level To Watch Out For Analyzing the daily Dogecoin chart, Skew hinted that there is a better risk-reward above $0.08750 for those who might be looking to get in on the meme coin. The analyst seemed to have…

Father and son sentenced for laundering millions in Bitcoin

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A Maryland father and son receive federal prison sentences for their involvement in a dark web drug trafficking and Bitcoin laundering operation. In a case underscoring the complex challenges of digital crime, a father and son duo from Maryland have been sentenced for their roles in a sophisticated dark web drug trafficking operation and subsequent Bitcoin (BTC) laundering scheme. Joseph Farace, 72, received a 19-month federal prison sentence on Jan. 8 for assisting his son, Ryan Farace, 38, in laundering Bitcoin earned from illegal drug sales. Court documents reveal that…

PEPE Breaks Out Of Descending Channel: Analyst Puts These Targets

An analyst has explained that PEPE could be breaking out of a descending channel pattern currently and may be heading towards these targets. PEPE Has Been Breaking Out Of A Descending Parallel Channel Recently In a new post on X, analyst Ali pointed out how the 4-hour PEPE price is breaking out of a descending parallel channel currently. In technical analysis, a “parallel channel” refers to the area enclosed by two parallel trendlines where the price of the given asset has been traveling inside recently. Generally, the price is likely…

Bitcoin ETFs Stir Optimism, Ambivalence and Dread Among Crypto’s Staunchest Supporters

“I don’t see bitcoin ETFs as clashing with what original proponents of crypto hoped for, because from the very start even the most idealistic strains of bitcoinism were always twinned with the raw desire to make money,” Koning said. “For the number to go up, more funds must be drawn in, which requires not only relying on the linkages already forged to traditional finance, like the integration with the card networks, but new forms of interconnection.” Source

Bitcoin ETFs and Wall Street: A Double Milestone

What’s more, it has done so with no corporation or government entity behind it, no VC money for its operations, no internal PR team. Bitcoin’s community is perhaps not so quiet, but the protocol itself has been remarkably lacking in drama. Running quietly in the background, the asset the network generates has found its way into institutional portfolios and retail holdings around the world, regardless of national boundaries and regulations. Source