The 30-day correlation between ether and Nasdaq, Wall Street’s tech-heavy index, has strengthened from 0.58 to a four-month high of 0.765, according to data tracked by trading giant Cumberland. The correlation value of 0.7 and higher implies a significant positive relationship between the two. Source
APE looks bullish ahead of staking as this could be one of the most anticipated stakings in crypto. Price reclaims 50 exponential moving average (EMA) on the daily timeframe ApeCoin price breaks out of an asymmetric triangle setting up a bullish scenario ApeCoin (APE) has seen more turbulent times than a rosy start as its price tumbled from $27 to $4 but could be set for a major run ahead of its impending staking scheduled to start in the fourth quarter of this year. The price of ApeCoin (APE) has…
The U.S. inflation-indexed bond yield has surged by 100 basis points (bps) since early August, causing renewed jitters in risky assets, including cryptocurrencies. And to the dismay of bitcoin (BTC) bulls, the so-called real yield is likely to rise even further in the coming months. Source BadBondBullishCryptoGoldmansNewsRealSpellsStanceYield CryptoX Portal
The U.S. inflation-indexed bond yield has surged by 100 basis points (bps) since early August, causing renewed jitters in risk assets, including cryptocurrencies. And to the dismay of bitcoin (BTC) bulls, the so-called real yield is likely to rise even further in the coming months. Source
Bitcoin, the biggest cryptocurrency by market value, slipped to $18,300, the lowest since June 19, according to CoinDesk data. Meanwhile, ether, the native token of Ethereum’s blockchain, which recently underwent a long-awaited and supposedly-bullish technological change called the Merge, slipped to a two-month low of $1,580. The total market capitalization fell to $858 billion, the lowest since mid-July. Original
The S&P 500 and the Nasdaq Composite index suffered their worst weekly performance since June as investors remain concerned that the Federal Reserve will have to continue with its aggressive monetary policy to curb inflation and that could lead to a recession in the United States. Bitcoin (BTC) remains closely correlated to the S&P 500 and is on track to fall more than 9% this week. If this correlation continues, it could bring more pain to the cryptocurrency markets because Goldman Sachs strategist Sharon Bell cautioned that aggressive rate hikes…
Bitcoin has seen fluctuating sentiment lately. With numerous dips and recoveries, it is no surprise that investors have had a hard time deciding on which side of the fence to sit on. However, while retail investors seem to be uncertain about the market, there has been some growth in both the funding rates and the open interest over the last week, showing that positive sentiment may be stabilizing. Funding Rates Recover Over the last couple of weeks, bitcoin funding rates have been consistently below neutral. This coincided with the times…
Cosmos (ATOM) has maintained so much bullish sentiment topping the charts in the crypto space; despite pullbacks across the market, Cosmos (ATOM) would recover with good volume and rally higher. The price has been faced with resistance on the weekly chart and has shown weakness as much doubt sets in if the price can reclaim the price of $20. (Data from Binance) Cosmos (ATOM) Token Price Analysis On The Weekly Chart Weekly ATOM Price Chart | Source: ATOMUSDT On Tradingview.com ATOM saw a decline in its price from $45 to…
The expectation of every crypto investor this month is to see some bullish trends in the market. Many top assets have recorded more pullbacks than rallies in the months following the overall market crash. Every week starts and ends with a new trend for the green or the reds. This uncertainty has kept everyone guessing and scared of imminent losses if the bearish trend continues. But it seems that the week beginning from September 5 to 12 brought a lot of bullish moves for many cryptos. Related Reading: Why Ethereum…
The dollar index, which tracks the greenback’s value against major fiat currencies, was trading lower at around 108. The index peaked above 110 last week as the European Central Bank rate hike put a floor under the euro and inflation expectations fell, offering relief to risk assets, including bitcoin. Source