In a bearish environment, traders latch on to every bit of negative news and make that a an excuse to sell.Read more
The U.S. Federal Reserve updated their inflation expectations for this year from 2.4% in March to 3.4% in their latest meeting that concluded on June 16. To tame inflation, the Fed plans to undertake two rate hikes before the end of 2023.
This news has boosted the U.S.
Bitcoin’s price (BTC) turned down from just above the $41,000 mark on June 15, suggesting that traders are halting their purchases at higher levels. Traders seem to be hesitant to take large bets until the U.S.Read more
Bitcoin (BTC) has risen above the psychological resistance at $40,000 following a series of positive news flow over the past week.Read more
Bitcoin’s (BTC) failure to rise above the critical $40,000 to $42,000 resistance zone is keeping crypto traders on tenterhooks.Read more
Bloomberg Intelligence senior commodity strategist Mike McGlone believes that Bitcoin (BTC) is more likely to rally to $40,000 than slump to $20,000. This bullish outlook seems to be shared by traders as Bitcoin initiated a sharp recovery today.Read more
United States Treasury Secretary Janet Yellen defended President Joe Biden’s latest massive spending package while speaking to Bloomberg. Yellen said it would be “a plus” for society even if it resulted in a higher interest rate environment.Read more
Several decentralized finance (DeFi) protocols running on Binance Smart Chain (BSC) have fallen victim to major exploits in recent months as the sector continues to see substantial growth in 2021.Read more
Bloomberg senior commodity strategist Mike McGlone believes Bitcoin (BTC) is more likely to turn up and rally to $100,000 rather than correct to $20,000.Read more
Bitcoin’s (BTC) active supply — coins that have moved in the past two years or earlier — dropped to a five-month low of 44.5% on June 2, according to data from Glassnode. This indicates that investors who had purchased Bitcoin more than two years ago are not keen to sell after the 40% drop.Read more