The data due at 12:30 UTC (8:30 ET) is expected to show the cost of living in the world’s largest economy rose 0.1% month over month in June after remaining flat in May, leading to a 3.1% rise year over year, according to economists surveyed by Dow Jones. The core CPI, which strips out more volatile food and energy prices, is forecast to have increased 0.2% from May and 3.4% since June last year. Source
Bitcoin miners have secured large amounts of power supply, and today control about 6 gigawatts (GW) of power access with a pipeline of up to 12 GW by 2027, the report noted. The miners have a lead in the “large load power interconnect queue” and therefore can help potential partners save time in securing energy supplies. Original
The on-chain analytics platform Santiment has provided useful insights for investors considering buying the Bitcoin dip. The platform suggested that the worst might not be over as the flagship crypto could still experience further dips from its current price range. To Buy Or Not To Buy The Bitcoin Dip? In an X (formerly Twitter) post, Santiment mentioned to those considering buying the dip that market participants also anticipate a rebound. They added that these dramatic dips, like the one Bitcoin recently experienced, are usually met with FUD (Fear, Uncertainty, and…
A Nigerian information technology agency is considering plans to develop a domestic blockchain to enhance national security and protect citizens’ data. A proponent of a locally developed blockchain argues that such a protocol would likely ensure compliance with Nigerian laws and allow the country greater control over its data. Domestic Blockchain Seen as Boosting Government […] Source CryptoX Portal
So far, Bitcoin has seen significant volatility in the last trading session, hinting at frail investor sentiment. Earlier today, the asset soared to as high as $57,300. However, the asset now appears to have run out of steam after reaching this mark as it trades at $55,966, down by 1.6%. This surge in volatility is a sign that the market has become more fearful as traders watch several key technical levels. However, the latest data suggests a shift in trader patterns as more defensive strategies are sought. Analysts from the…
The beginning of July has not been bullish for the Bitcoin and crypto market as earlier expected due to a number of events that have shaken the market. For example, the Spot Ethereum ETFs did not debut on July 2nd as expected, and the US and German governments have been reportedly selling large tranches of BTC. However, a turn in the tide could be coming for Bitcoin and crypto at large as the CPI data is expected to drop on July 11. CPI Data Could Move The Narrative For Crypto…
“Foolishly, the German Government has transferred more than $390 million worth of BTC to exchanges over the past few weeks to be sold for fiat currency. From a geopolitical perspective, it is a strategic blunder for any nation-state to sell bitcoin holdings for fiat currency given that they can simply print the latter out of thin air,” the July 5 edition of the Blockware Intelligence newsletter said. Source BitcoincryptoexchangeExchanges CryptoX Portal
Amid efforts to go public, Northern Data faces accusations of fraud from former executives who allege they were ousted for whistleblowing. European Bitcoin mining giant backed by stablecoin issuer Tether, Northern Data, is embroiled in legal controversy as two of its former executives allege they were dismissed for raising concerns about fraud. In a lawsuit filed in the California Central District Court, ex-Northern Data executives Joshua Porter and Gulsen Kama say the Frankfurt-headquartered company was “falsely misrepresenting the strength of its financial condition to investors, regulators and business partners,” adding…
In their recently unsealed California lawsuit, the two executives – Joshua Porter and Gulsen Kama – allege that Northern Data lied to investors about the strength of its finances, hiding the fact that it is “borderline insolvent,” and, additionally, is “knowingly committing tax evasion to the tune of potentially tens of millions of dollars.” Source
It was a sea of red in the crypto industry on Friday after Bitcoin price dropped below the crucial support of $55,000. Most altcoins like Ethena (ENA), Solana (SOL), and EOS dropped by over 10% in the past 24 hours. The total market cap of all coins dropped from the year-to-date high of $2.7 trillion to $2 trillion. Ethena vs Solana vs EOS prices US nonfarm payrolls (NFP) data The falling crypto prices received another blow when the US published another solid nonfarm payroll (NFP) data. According to the Bureau…