Tag: Data

Bitcoin sees new 4-month high as US PPI, retail data posts ‘big misses’

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Bitcoin (BTC) set yet another multi-month high before the Jan. 18 Wall Street open as United States macroeconomic data fell far wide of expectations. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView U.S. PPI numbers fall wide of the mark Data from Cointelegraph Markets Pro and TradingView showed BTC/USD spiking to $21,646 on Bitstamp. A subsequent correction saw the pair moving around $21,400 at the time of writing, with U.S. stocks reacting to surprise data surrounding economic activity in December. Specifically, the Producer Price Index (PPI) showed cost rises cooling faster…

Bitcoin on-chain and technical data begin to suggest that the BTC price bottom is in

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Bitcoin’s (BTC) price has followed a four-year cycle with consecutive bull and bear trends occuring in somewhat measurable intervals. A closer look at Bitcoin’s long-term price action reveals that the run-up to the top and bottom of the previous cycles look remarkably similar. What’s more interesting is that the 2020 to to2021 cycle shows signs of following the same pattern. Independent market analyst, HornHarris, found that the period between the bottom-to-top and top-to-bottom has been the same since 2015, 152 weeks and 52 weeks, respectively. Even in 2013, the bear…

Bitcoin Price Clocks Above $19K for First Time Since FTX Fiasco Fueled by CPI Data

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Bitcoin whales significantly contributed to the recent rally above $19K. Bitcoin price gained over 3 percent on Thursday and briefly traded above $19K for the first time in eight weeks. Having broken above December highs of around $18,353, the mother coin exchanged about $18,836 during the early Asian trading market. The increased upward volatility on the Bitcoin and altcoin market coincided with the United States Consumer Price Index (CPI) data released on January 12. According to data from the Bureau of Labor Statistics December CPI data remained unchanged, which means…

European Markets Hit Highest Level amid US Inflation Data

Indices across the European continent gained anywhere between 0.75-1% with sectors like autos, banks, retail, and telecoms taking the lead. On Thursday, January 12, the European markets closed to their highest levels in eight months since April 2022. Stoxx 600, the pan-European index closed at 0.7% higher with most sectors in the positive territory. Stocks in the retail sector mainly led up the gains closing 2% up. However, the healthcare and the chemicals sectors both ended in the red 0.1% down. But sectors like autos, banks, retail, and telecoms were…

90% of businesses adopting blockchain technology, data

The crypto and blockchain space has had a turbulent past year, but that is not stopping users and enterprises from looking into the industry. A new survey from CasperLabs and Zogby Analytics revealed that the sentiment around blockchain adoption is especially positive among enterprises. The poll was conducted via 603 business enterprise “decision makers” in the United States, the United Kingdom and China. Nearly 90% of the businesses surveyed reported deploying blockchain technology in some capacity, with 87% saying they plan to invest in blockchain in the next year. This is particularly…

China Recognizes Digital Yuan in Cash Circulation Data

The update on the digital yuan in circulation was revealed by the People’s Bank of China (PBoC) in the 2022 Financial Statistics Report.   For the first time, China included the digital yuan while calculating the amount of currency in circulation in December. This is significant to the country and the early adopters of the central bank digital currency. History will also recognize China as one of the first countries to develop its central bank digital currency. The country also conducted pilot tests and trials toward the launch of its digital yuan.…

Bitcoin miner Northern Data says production increased by 315% Y/Y in 2022

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Northern Data AG, a German company that specializes in Bitcoin mining and cloud computing, released its December 2022 results for its mining division. According to Northern Data AG, in the fiscal year 2022, it mined a total of 2,798 BTC, a significant increase of 315% compared to the previous year. This led to BTC mining revenues of EUR 77.7 million in the fiscal year 2022. The average sale price of the 3,005 BTC mined and sold in 2022 was EUR 23,849, contributing to a cash revenue of EUR 71.7 million.…

Litecoin Could Rally 285% Pre-Halving Based: Historical Data

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While the Bitcoin halving is not expected until March 13, 2024, according to Coinwarz data, Litecoin investors can already look forward to the traditionally bullish event as soon as this year. According to NiceHash’s estimate, the Litecoin halving will take place in 189 days, on July 19, 2023. The approaching halving has prompted analyst Rekt Capital to examine Litecoin’s historical price trends before and after the halving in order to provide a prediction for the coming months. 285% Litecoin Rally In The Cards? Rekt Capital notes that LTC tends to…

Bitcoin On-Chain Data Shows Weak Baseline For 2023: Report

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Even though Bitcoin (BTC) and the broader crypto market are experiencing an upswing in the first days of the new year, on-chain data shows that the market remains in a deep slumber. As Glassnode explains in its latest report, the BTC price has shown historically low volatility over the past weeks. And according to the on-chain data for Bitcoin, there is currently little reason to believe that the boredom in the market will change quickly. However, if a move does occur, it will likely be an explosive market move, as…