Tag: High

Bitcoin Faces Turbulence As 10YR Treasury Yield At 15-Year High

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In an environment of soaring interest rates and economic unpredictability, Bitcoin and the broader crypto market face increased headwinds. The shift in the financial landscape was recently underscored by the Benchmark 10-year US Treasury yield, which hit a 16-year high this Thursday. Longest Yield Curve Inversion Ever Historically, an inverted yield curve, where short-term yields are higher than long-term ones, has been a harbinger of economic downturns. Notably, the 10-Year minus the 3-Month Treasury Yield curve has been inverted for a record 217 trading days. Past data indicates that the…

Bitcoin blasts past its 2021 all-time high in Argentina, but hyperinflation outpaces gains

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Argentina has grappled with hyperinflation for several decades due to failed policies that have led to budget deficits. As time marches on, the likelihood of Argentina — home to 47 million people — facing a full-scale currency collapse looms. But what are the prospects for increased adoption of Bitcoin (BTC), given its outstanding track record when priced in the local Argentine peso currency? Throughout its history, the Argentine government has frequently resorted to the practice of inflating the money supply, be it through bank deposits or government bonds. Notably, Argentina’s…

US Treasury Yield Hits Multi-Year High amid Fed Rate Decision

Amid sticky inflation, Fed Chair Jerome Powell said that they would approach the monetary policy very cautiously. Analysts expect only two rate cuts instead of four, in 2024. On Thursday, September 21, the US Treasury yields experienced an upward surge approaching levels not observed in over a decade. This movement followed the Federal Reserve’s announcement regarding interest rates and future guidance. US Treasury Yield The yield on the 10-year Treasury increased by approximately 9 basis points, reaching 4.435%, marking a new high last witnessed in 2007. Meanwhile, the 2-year Treasury…

Bitcoin Price Rejected Above $27K amid Spike in Address Activity to This Year’s High

Heightened Bitcoin demand by institutional investors amid the incoming halving event in about six months has kept the bullish narrative alive. Against all odds, Bitcoin (BTC) price rallied above $27K for the first time In September, thus rejuvenating hopes for altcoin bullish sentiment. According to the latest crypto oracles, Bitcoin price scaled as high as $27.4K on Monday but has since retraced and stabilized around $26.8k during the early Asian market on Tuesday. The sudden Bitcoin spike follows last week’s close on a positive note and upcoming high-impact news later…

Base Posts New All-Time High In Daily Transactions Amidst Friend.tech Resurgence

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Base, the Coinbase-incubated Ethereum layer 2 (L2) network, has seen rising adoption since opening its door to the public barely a month ago. While the blockchain platform has gained significant traction, its pool of users and protocols has also witnessed substantial expansion. In a testament to this rapid growth, Base recently registered its highest number of transactions in a single day. Base Network Records Massive On-Chain Activity In One Day According to data from IntoTheBlock, Base has seen its daily transactions soar to a new all-time high. The blockchain platform…

Bitcoin price all-time high will precede 2024 halving — New prediction

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Bitcoin (BTC) has a $250,000 target for after its next block subsidy halving — but new all-time highs will come sooner. That is the latest BTC price prediction from BitQuant, the popular social media commentator who sees a rosy future for the largest cryptocurrency. BitQuant: Pre-halving all-time high will not be BTC price top In his latest post on X (formerly Twitter) on Sept. 15, the pseudonymous “central banker and Bitcoiner” revealed a pre-halving target above $69,000. “No, Bitcoin is not going to top before the halving,” he wrote in…

Bitcoin Profit-Taking At 2-Month High, Pullback Incoming?

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On-chain data shows the Bitcoin profit-taking has risen to a two-month high, which could provide resistance to the BTC surge. Bitcoin Profit-Taking Volume Has Shot Up With The Price Rise According to data from the on-chain analytics firm Santiment, investors have started to take profits following the latest cryptocurrency price increase. The relevant indicator here is the “ratio of daily on-chain transaction volume in profit to loss,” as its name already implies, it tells us how the profit-taking volume in the market currently compares against the loss-taking one. The indicator…

Bitcoin ignores CPI, FTX as BTC price hits September high near $26.6K

Bitcoin (BTC) hit new September highs after the Sep. 14 daily close as markets digested macroeconomic and crypto industry news. BTC/USD 1-hour chart. Source: TradingView Trader: Bitcoin market “feels different” Data from Cointelegraph Markets Pro and TradingView tracked overnight BTC price highs of $26,535 on Bitstamp. The largest cryptocurrency had shaken off higher-than-expected United States Consumer Price Index (CPI) the day prior, maintaining $26,000. Subsequent confirmation that defunct exchange FTX had received legal permission to liquidate its remaining assets likewise failed to dent Bitcoin’s comparatively solid intraday performance. At the…