Day: February 14, 2024

Inflationary Concerns Rise As US CPI Exceeds Predictions, Bitcoin Price Reacts

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The latest US inflation data significantly impacted the Bitcoin price and most of the cryptocurrency market, with some exceptions. According to a report from the Labor Department, inflation rose more than expected in January, driven by higher shelter prices. Furthermore, the consumer price index (CPI), which measures the prices consumers face for goods and services across the economy, saw a 0.3% increase for the month. On a 12-month basis, the CPI stood at 3.1%, slightly lower than December’s 3.4%. Bitcoin Price Retreats Amid Higher-Than-Expected CPI Figures According to recent reports,…

Bitcoin Price Holds Support, BTC Uptrend To Continue Soon?

Bitcoin price started a downside correction from the $50,400 zone. BTC tested $48,250 and is currently attempting a fresh increase above $50,000. Bitcoin price is holding gains above the $48,250 and $48,500 support levels. The price is trading above $48,850 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at $48,750 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move up if it clears the $50,000 resistance zone. Bitcoin Price Remains Supported Bitcoin…

Skybridge Founder Says It’s Not Too Late to Buy Bitcoin — Foresees ‘Face-Ripping Rally Incoming’

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Skybridge Capital founder Anthony Scaramucci has explained that it is not too late to buy bitcoin. With bitcoin’s price surging past $50,000, he anticipates that many are wondering if they’ve missed the opportunity to buy the crypto. Scaramucci stressed that his answer is a hard “no.” Anthony Scaramucci: Bitcoin Is Still a Good Buy Skybridge […] Original

Crypto Fear & Greed Index Hits Highest Level Since Bitcoin’s 2021 Record High

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Here’s How This Whale Is Taking Advantage Of The ETH Rally

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In recent weeks, Ethereum has witnessed a noticeable uptick in its market price, reaching a one-month high and showcasing a growing demand for the asset. Amid this development, the on-chain analytics platform Lookonchain revealed an Ethereum whale’s noteworthy strategy, marking a bold stance on Ethereum’s future trajectory. Strategic Accumulation Amid Rising Prices According to Loookonchain, an unknown whale has been actively increasing their Ethereum holdings, utilizing the Spark platform’s revolving loan feature. Spark platform is a decentralized finance (DeFi) product that enables users to borrow stablecoins like USDC or DAI…

Peter Schiff Warns of Bitcoin ‘Pump and Dump’ — Expects to See a ‘Massacre’

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Economist and gold bug Peter Schiff has warned that the current bitcoin price surge looks like “another classic pump-and-dump.” Noting the significant excitement around the new spot bitcoin exchange-traded funds (ETFs), he expressed his skepticism, stating: “I wonder when the massacre will begin.” Peter Schiff on Bitcoin ‘Pump and Dump’ The price of bitcoin soared […] Original

The Tipping Point: Altcoins Bull Market Incoming, Predicts Analyst

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A renowned crypto analyst on X has recently sparked discussions within the altcoin community by predicting an imminent “altcoins bull market.” This anticipation is rooted in observing a notable pattern in the altcoin market cap chart. Accumulation Pattern Suggests Bull Market Incoming According to the crypto analyst Mags on X, the market capitalization of cryptocurrencies, excluding Bitcoin, has reached a crucial stage in the Wyckoff Accumulation Pattern, hinting at potential upward momentum shortly. For context, the Wyckoff Accumulation Pattern, named after Richard D. Wyckoff, a pioneering early 20th-century trader, is…