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US Inflation Jumps to Highest Point Since 1982
New data from the U.S. Bureau of Labor Statistics shows the Consumer Price Index (CPI) for all items rose 6.8% in the 12 months through November, the highest since May 1982, when it was 6.9%.
How Bitcoin Set Itself Up for This Sell-Off
Over the weekend, a sell-off in the spot market triggered several hundred million dollars worth of futures liquidations that helped to send prices plummeting further. New data reveals the conditions that potentially set the stage for big price movements in one direction or the other.
Analysts Expect Positive Bitcoin Returns in December
New data on average returns for bitcoin by month reveals BTC has positive returns in the fourth quarter, which is why some traders remain poised for a year-end rally across cryptocurrencies. Yet, based on seasonal data, BTC’s upside could be limited as January tends to produce negative returns.
Bitcoin Declined Below $58K; Support Between $53K-$55K
Bitcoin buyers failed to sustain Monday’s price bounce, although support around $53,000-$55,000 could stabilize the current pullback. The cryptocurrency has been down about 2% over the past 24 hours and roughly flat over the past week. “All About Bitcoin” host Christine Lee breaks down the Chart of the Day.
Bitcoin’s Hourly Chart Signals Possible Bull Run Ahead
Bitcoin’s recovery has taken the shape of a bull flag on the hourly chart. A breakout could accelerate the recovery, perhaps bringing a re-test of $60,000. “All About Bitcoin” host Christine Lee breaks down the Chart of the Day.
Bitcoin Faces Resistance Around $57K, Altcoins Recover From 7-Day Lows
Bitcoin is meeting the $57,000 resistance level during U.S. trading hours Wednesday as altcoins and other layer 1 tokens recovered from seven-day lows. New data on bitcoin dominance continued to signal a bias toward altcoin exposure. “All About Bitcoin” host Christine Lee breaks down the Chart of the Day.
Bitcoin Still Trading in Bullish Channel Despite Price Support Break
New data reveals bitcoin’s broader outlook remains constructive despite the recent pullback. The largest cryptocurrency by market cap fell below its support level of $57,653, the Oct. 23 low, which has paved the way for a deeper pullback. “All About Bitcoin” host Christine Lee breaks down the Chart of the Day.
Have Investors Priced in the Long-Awaited Taproot Upgrade?
The crypto markets awash in a sea of red Friday, with bitcoin and ether nursing moderate losses as fears of earlier Federal Reserve interest rate hikes, overshadow the impending Taproot upgrade. “All About Bitcoin” host Christine Lee breaks it down in Chart of the Day.
Profit Taking Since July Remains Lower Than During BTC’s Rally From January to May
New data on bitcoin’s adjusted spent output profit ratio (aSOPR), which measures the profitability of spent bitcoin while filtering out short-term trading, reveals profit taking since July has remained significantly lower than during BTC’s rally from January to May. Some suggest this signals holders may believe in the continuation of a longer-term bull cycle.
Bitcoin Eyes Fed Meeting After Biggest Monthly Price Gain Since December 2020
Bitcoin’s October rally appears to have put the cryptocurrency on a firm footing ahead of central bank meetings in the U.S., U.K., and Australia to assess the stickiness of inflation and determine policy response. BTC surged nearly 40% in October, recording the biggest single-month percentage rally since December 2020.