Tag: Markets

Bitcoin returns to $42K as markets await potential 7.9% CPI inflation data

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Bitcoin (BTC) hit $42,000 on March 9 as an impressive overnight candle saw bulls reclaim support levels. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader: Market “still fragile” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD abruptly “squeeze” through previous resistance at $39,600, going on to deliver 24-hour gains of 11.3%. Amid local highs of $42,438 on Bitstamp, the mood among traders was also improving, but caution remained.  Multiple macro factors: The Russia-Ukraine war, inflation and the United States‘ incoming executive order on cryptocurrency all kept commentators wary. “I can’t…

Goldman Sachs’ Blankfein Asks Why Crypto Isn’t Having a Moment Despite Inflating US Dollar, Freeze Orders – Markets and Prices Bitcoin News

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A Goldman Sachs senior chairman has asked why crypto is not having a moment despite “the inflating U.S. dollar” and governments demonstrating that they can and will freeze accounts under certain circumstances. “Not seeing it in the price, so far,” he said. Goldman Sachs’ Blankfein Has a Question About Crypto Lloyd Blankfein, who is currently senior chairman of the Goldman Sachs Group, tweeted about crypto Sunday. Blankfein previously served as Goldman Sachs’ chairman and chief executive officer from 2006 through September 2018. He explained that he is keeping an open…

How HAL and Aldrin are helping to keep crypto assets secure during bear markets

Crypto bear markets are known for their downturns and their liquidations for investors who are trading with leverage. On top of that, decentralized finance, or DeFi, projects can become targeted by hacks or suffer rug pulls, leading to enormous losses for investors of their tokens. Now new software seeks to alert investors in real-time about potential risks to their positions.  Users and executives from two such services, HAL and Aldrin, explain. HAL is a Web3 data infrastructure tool allowing companies or traders to track, monitor and trigger data. HAL recently…

Factors Behind Crypto Markets Worst Weekly Performance

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Bitcoin has failed to display strength during the past week and remains at risk of revisiting previous lows. The benchmark crypto seems to be negatively reacting to the current macro-environment, and an overall weakness from the buying side. Related Reading | Risk Aversion Pulls Crypto Market Down, Bitcoin Still Below $40K At the time of writing, the price of Bitcoin trades at $38,544 with a 1.2% loss in 24 hours and a correction of 10.8% in the last week. BTC trends to the downside on the daily chart. Source: BTCUSD…

Price of Gold Spikes Over $2,060 per Ounce While Risk Assets Continue to Capitulate – Markets and Prices Bitcoin News

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On Tuesday, the price of gold soared to new heights as an ounce of the precious metal surpassed $2K per ounce during the early morning trading sessions (EST). Hours later, gold tapped a high of $2,064.27 per ounce as the Russia-Ukraine war and global commodities surge has fueled demand. Gold’s Value Surges Higher Amid Commodities Boom Gold is exchanging hands for prices not seen since August 2020, as the Russia-Ukraine war has caused a significant demand for barrels of oil, commodities, energy stocks, and precious metals. During the last 24…

Crypto Markets Slightly Recover After Weekend Decline

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Cryptocurrencies are on the rise again, with some stability in sight. Over $1.7 trillion worth of cryptocurrency, the global market cap has increased by 0.51% today alone.  It seems like the crypto markets are finally starting to recover. Bitcoin rose by 1.61%, while Ethereum also showed a slight uptrend in the recent 24 hours, going up 0.70%. The price of bitcoin is currently $38,900, and that for Ethereum stands at about USD 2570 per coin.  Related Reading | TA: Ethereum Could Avoid a Major Downtrend if it Closes Above One…

Data Shows Global Financial Conditions Tightest in 2 Years, Shaky Bond Markets Point to Long-Run Inflation – Economics Bitcoin News

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At the end of the trading day on Monday, Wall Street was roiled once again as major stocks plunged during the day’s trading sessions. Most news outlets indicate the Russia-Ukraine war is causing the bleak outlook and reports show strained financial conditions worldwide are currently the tightest since 2020. Meanwhile, bond markets during Monday’s trading sessions indicate increased inflationary pressures may be on the horizon. Global Investors Grow Concerned About Strained Financial Conditions Equities traders did not have a pleasant day during Monday’s trading sessions as the S&P 500, Nasdaq,…

Examining the crypto market’s reaction to the Russia–Ukraine crisis

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February saw a noticeable shift between inflation and U.S. Federal Reserve news, followed by news of a conflict in Eastern Europe that completely overshadowed the earlier concerns of economic health. What’s transpiring in Ukraine is causing an immediate marketwide price drop. Bitcoin (BTC) had a notable decline of 11% over a 16-hour time period, while the majority of altcoins plummeted 20% or more. The initial expectation was for the war to have a negative impact on cryptocurrency prices, which it did for a short period of time. However, as fear…

Venezuela Increases Minimum Monthly Wage to Half a Petro – Emerging Markets Bitcoin News

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Nicolas Maduro, president of Venezuela, announced an increase in the minimum wage of workers in the country linked to the petro. In the II Workers’ Congress, Maduro revealed that the new value of the salary would be half a petro, the national cryptocurrency, which is now worth close to $59. This constitutes an increase of almost 1,800% compared to the previous amount of only seven Venezuelan bolívars (VES). Minimum Wage Increase to Build “Sustainable Recovery” Nicolas Maduro, president of Venezuela, announced the increase of the minimum monthly salary…