Tag: Analysis

Bitcoin and most major altcoins are selling off on rallies, proof that investor sentiment remains negative in the short term. The United States stock markets are trying to recover on reports that the debt ceiling talks are showing promise and a debt default may be avoided. However, the same enthusiasm is not seen in the cryptocurrency markets. Bitcoin (BTC) slipped back below the $27,000 support on May 17, indicating that buyers are struggling to sustain the relief rallies. Institutional investors seem to be booking profits due to the macro uncertainty.…

Bitcoin and select cryptocurrencies are trying to start a rebound following the CPI data release but bulls may find it difficult to continue the recovery at higher levels. The United States consumer price index rose 4.9% annually, which was slightly less than estimates of a 5% increase. The CPI’s monthly rise of 0.4% in April was in line with expectations. Although inflation remains stubbornly higher than the Federal Reserve’s 2% target range, traders will take comfort from the slower pace of increase. That suggests the Fed rate hikes are having…

Ether has broken out of its triangle, and that may pull the Bitcoin price above $30,000. Confidence in the United States financial system seems to be eroding fast, with investors trying to find the next weakest link that is about to collapse. Bill Ackman, CEO of hedge fund management firm Pershing Square, cautioned that time was running out to fix the problem. The U.S. equities markets have become vulnerable to adverse news on the regional banks, as seen from the sell-off in the past three days. Compared to that, Bitcoin…

Bitcoin and select altcoins are showing a continuation pattern, indicating indecision among the bulls and the bears. Investors seem to have priced in a 25 basis points rate hike by the United States Federal Reserve on May 3. Next, they will look for clues on the Fed’s actions for the rest of the year. Will the Fed maintain its hawkish stance as inflation still remains well above its target range or will the bank troubles and the looming recession make the central bank signal a pause in its rate hikes?…