Bitcoin Takes Late Dive Below $19K, Ether Falls as Merge Countdown Begins

โ—Bitcoin (BTC): $18,843 โˆ’4.6% โ—Ether (ETH): $1,576 โˆ’0.7% โ—S&P 500 daily close: 3,906.28 โˆ’0.5% โ—Gold: $1,712 per troy ounce +NaN% โ—Ten-year Treasury yield daily close: 3.34% +0.1 Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found at coindesk.com/indices. Source

Ether Primed for Pre-Merge Rally After Wedge Breakout

The falling wedge begins wide at the top and contracts as prices move lower, causing the two descending trendlines to converge as the pattern matures. The converging nature of trend lines represents shallower lows, a sign of decreasing selling pressure. Therefore, a breakout is taken to mean a bullish revival. Source

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Did Merge Optimism Lift Ether or Was It the S&P 500?

Possibly behind the equity rally in July and the first half of August was the hope that inflation has peaked and the Federal Reserve would resort to rate cuts next year. That dovish Fed narrative, however, fizzled out in the second half last month, bringing renewed weakness in stocks and cryptocurrencies, with ether tumbling more than 20% from a peak hit on Aug. 14. Source EtherliftMergeOptimism CryptoX Portal

Bitcoin, Ether Consolidate as Traders Eye U.S. Jobs Report to Gauge Next Fed Rate Hike

The tighter the labor market, the stickier inflation and the more pro-tightening, or hawkish, the Fed will be. Risk assets, including cryptocurrencies, are addicted to cheap liquidity and have taken a beating this year, mainly because of the Fed’s interest-rate-hike cycle. This year, the central bank has raised rates by 225 basis points. (A basis point is one-hundredth of a percentage point.) Original