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Trading
US Inflation Jumps to 39-Year High of 6.8% in November; Bitcoin Falls
Prices for bitcoin, seen by a growing number of investors as a hedge against inflation, jumped 2% after the CPI report from the U.S. Department of Labor’s Bureau of Labor Statistics.
Bitcoin Rangebound Above $46K Support, Resistance at $55K
Selling pressure could slow into the Asia trading day as indicators appear oversold.
Bitcoin Drops 5%, Slipping Below $50K on Leverage Washouts
Some $187 million of crypto trading positions were liquidated over the past 24 hours.
Bitcoin Struggles Near Resistance; Support at $53K
Long-term momentum is starting to fade, which could limit price gains this month.
Goldman Sachs Sees Crypto Options Markets as ‘Next Big Step’ for Institutional Adoption
While CME Group’s bitcoin futures contracts initially lured in Wall Street firms, Goldman’s head of crypto trading says options are “more versatile.”
Bitcoin Rangebound Between $55K Support and $60K Resistance
The intermediate-term uptrend remains intact.
Polygon’s MATIC Token Jumps After 21Shares ETP Listing
At press time, the token was up 16% in 24 hours. Are cryptocurrency markets repricing “layer 2″ tokens?
Bitcoin Turns Lower as Fed Chair Suggests Inflation No Longer ‘Transitory’
Federal Reserve Chair Jerome Powell’s turnabout suggests the U.S. central bank might move more quickly to tighten monetary policy – potentially a negative for speculative assets including bitcoin.
Axie Infinity Finds Ready Players in Hyperinflation-Racked Venezuela
As they have in the Philippines, some players are making enough money to feed their families.
Bitcoin Struggles at $60K Resistance; Support Above $53K
Short-term downside is likely into the Asia trading day.
