Author: Jake Simmons
The Bitcoin price has fallen to the lower end of its almost one-month trading range between $29,800 and $31,300. Already yesterday, BTC briefly fell to as low as $29,704, only to recover to $30,306 within a few hours. At press time, BTC was again moving towards the $30,000 mark, and another fall and liquidity grab seems likely. While this week the macro data releases are pretty quiet, it’s worth taking a look at what’s happening in the Bitcoin market itself. Why Is Bitcoin Down Today? Swissblock Insights observed a peculiar calm in the market when Bitcoin reached a new yearly…
Since the Bitcoin price reached a new yearly high of $31,840 last week, only to invalidate the bullish breakout within a few hours and fall towards $30,000, there has been a strange tranquility in the market. Already since June 23, BTC has been in the trading range between $29,800 and $31,300, with every breakout attempt to the upside and downside having failed within a very short period of time. However, one of the most prominent technical indicators, the Bollinger Bands, predict that this calm may soon be over. Created by the esteemed trader John Bollinger, these bands provide invaluable insights…
In the legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), the recent order granting in part and denying in part the motion for Summary Judgment by Judge Torres has left many XRP investors eagerly awaiting the next steps. To shed some light on the situation, prominent attorney Jeremy Hogan has shared his thoughts on the matter, offering valuable insights into the potential appeal process with deadlines and its implications for both parties involved. Ripple Vs. SEC: The Next Possible Deadline Hogan, a seasoned attorney with experience in appeals, cautions that appeals are typically pursued after…
The Shiba Inu price has risen over 5% in the last 24 hours amid the market-wide hype surrounding Ripple’s partial victory in its legal battle with the US Securities and Exchange Commission (SEC). But SHIB investors should still be cautious: While the SHIB price shows a clear uptrend of 23% over the last 30 days, a complete confirmation of a trend reversal is still pending. Shiba Inu Price Analysis Technically, the Shiba Inu price remains in bearish territory for several reasons. As explained in previous analyses, the Shib price entered a downtrend channel in early February this year. The breakout…
The Bitcoin price tagged a new yearly high yesterday at $31,840, leaving market participants wondering about the driving forces behind this bullish momentum. The Power of Economic Indicators One of the crucial factors contributing to Bitcoin’s upward trajectory was the release of the United States Producer Price Index (PPI) data. The latest figures revealed a significant slowdown in inflation, with PPI YoY dropping to 0.1% in June, surpassing expectations and marking the smallest pace since August 2020. Notably, the Core PPI YoY came in at 2.4%, slightly below the estimated 2.6%, reinforcing the notion of a diminishing inflationary environment. This…
In a jaw-dropping discovery that has sent shockwaves through the Shiba Inu community, a dormant whale has emerged from hibernation. This anonymous early investor, who holds a staggering 10.15% of the total SHIB supply, has recently made significant moves, causing speculation within the community. The whale, identified by his address “0x140”, has been dormant for a staggering 157 days, but has now reawakened with a series of unprecedented transactions. In a span of just 24 hours, the whale distributed a whopping 4 trillion SHIB tokens, equivalent to a staggering $30 million, across nine new wallets. Detailed data from Etherscan confirms…
Within the last 24 hours, Bitcoin and the entire crypto market are experiencing a slight downturn, leaving investors wondering about the reasons behind this dip. Bitcoin briefly rose to $31,009 before falling to 30,254 within a few hours. Ether (ETH) rose to over $1,900, only to drop back to $1,868. CPI Data And The Anticipation Of A Rate Hike One crucial piece of the puzzle lies in the recent Consumer Price Index (CPI) data. Yesterday’s CPI data for June was a positive surprise as the headline CPI year-over-year (YoY) fell to 3.0%, coming in below expectations of 3.1%. Even more…
The Consumer Price Index (CPI) data for June, released by the Bureau of Labor Statistics today, has sent ripples of optimism throughout the Bitcoin and crypto market. The latest figures reveal a surprising cooling in inflation, which has ignited hopes of a positive outlook. According to the data, the headline CPI year-over-year (YoY) inflation fell to 3.0%, coming in below expectations of 3.1%. This represents a noteworthy decline from the previous month’s 4.0% figure. Even more encouraging is the fact that core CPI YoY inflation dropped to 4.8%, surpassing market expectations of 5.0%. Notably, this is the first time the…
The Shiba Inu ecosystem token Bone ShibaSwap (BONE) has seen a staggering 88% price increase within the last 28 days, since Jun 15. Last Saturday, the price rally stopped for the time being at just under $1.50, which means that the Shiba Inu-based token has already experienced an interim price increase of over 120%. Since then, the BONE price has been in a consolidation. A look at the 1-day chart of BONE shows that the price initially shot above the 50% Fibonacci retracement level, but failed to defend the gains on a daily basis and eventually fell below the resistance.…
As the highly anticipated US Consumer Price Index (CPI) data for June is set to be released today at 8:30 am EST, the Bitcoin (BTC) market finds itself at a crucial crossroads. With inflation concerns lingering and the Federal Reserve’s next moves under scrutiny, market participants eagerly await the impact of the CPI figures on BTC’s price trajectory. The expectations are as follows: Headline y/y at 3.1% (last 4.0%) Headline m/m at 0.3% (last 0.1%) Core CPI y/y of 5.0% (last 5.3%) Core CPI m/m of 0.3% (last 0.4%) The Fed’s Battle Against Inflation In recent months, inflationary pressures have…