Bitcoin is under pressure as Fed taper concerns linger, although some expect crypto to remain resilient.
Bitcoin traded lower as investors unpacked Wednesday’s announcement from the U.S. Federal Reserve that it could raise interest rates by late 2023. Assets deemed to be risky like stocks and crypto also appear to be weighed down by lingering concerns that the Fed may wind down its bond-buying program sooner than expected.
Some analysts, however, expect bitcoin to remain resilient if inflation continues to rise, which could lead to outperformance versus traditional markets.
In a newsletter published on Wednesday, EQUOS, a digital asset financial…
The U.S. central bank also increased estimates of coming inflation to 3% from the 2.2% projection in March, largely due to transitory factors.
Cryptocurrencies were mostly lower on Wednesday despite a brief 3% jump in bitcoin after the U.S. Federal Reserve maintained accommodative monetary policy.
But the gains were short-lived as risk assets pulled back, with traders focusing on Fed officials’ revised projection for interest rate increases by the end of 2023 — sooner than what was anticipated in March.
Bitcoin (BTC) $38577.3, -2.71%
Ether (ETH) $2415.5, -4.05%
S&P 500: 4223.76, -0.54%
Gold: $1826.61, — 1.7%
10-year Treasury yield: 1.554%
Some analysts are optimistic while others prefer to see stronger signs of upside momentum before calling a bottom.
Bitcoin stalled for most of Monday before making another run at $40,000 as of press time. The world’s largest cryptocurrency by market valueis holding support above $36,000 and remains up about 20% over the past seven days.
Some analysts are optimistic about a decisive break above $40,000 while others prefer to see stronger signs of upside momentum before calling a bottom in bitcoin.
Bitcoin (BTC): $39752.7, -0.3%
Ether (ETH): $2523.88, -0.85%
“Bitcoin is at its highest level since May, a notable recovery…
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Bitcoin tests $40K following positive comments from Tesla’s CEO Elon Musk and hedge fund manager Paul Tudor Jones.
A string of positive news kept bitcoin buyers active on Monday as analysts searched for signs of a short-term bottom. The world’s largest cryptocurrency by market capitalization is up about 20% over the past e seven days and is testing the $40,000 price level for the first time in two weeks.
A number of signals “all firmly point to an undervalued bitcoin at current prices,” wrote Alexandra Clark, sales trader at the U.K.-based digital asset broker GlobalBlock, in an email to CoinDesk.
Bitcoin busted out a quick 5% gain early Thursday on positive news from that continent before losing some steam.
Bitcoin has returned to the spotlight on positive cryptocurrency banking news out of Europe. Ether’s shine is diminishing a bit Thursday based on some volume, volatility and options data.
Bitcoin (BTC) trading around $36,732 as of 21:00 UTC (4 p.m. ET). Up 1% over the previous 24 hours.
Bitcoin’s 24-hour range: $36,250-$38,200
Ether (ETH) trading around $2,465 as of 21:00 UTC (4 p.m. ET). In the red 3.8% over the previous 24 hours.
Ether’s 24-hour range: $2,462-$2,617
Bitcoin over $38K, then…
Pessimistic news isn’t stopping the crypto spot markets from looking bullish Wednesday.
Prices of blockchain-based assets are climbing amid a fresh bout of uncertainty regarding cryptocurrency regulation and enforcement in China,
Bitcoin (BTC) was trading at $36,278 as of 21:00 UTC (4 p.m. ET), jumping 10.2% over the previous 24 hours.
Bitcoin’s 24-hour range: $32,557-$36,890
Ether (ETH) trading at $2,561 as of 21:00 UTC (4 p.m. ET). In the green 2.3% over the previous 24 hours.
Ether’s 24-hour range: $2,418-$2,613
Bitcoin, the world’s largest cryptocurrency by market capitalization, was in the green Wednesday by 10.2% as of press time. …
Ether is providing some with hope as its momentum, in the form of volume, continues to beat bitcoin for the 10th straight day.
A double-digit cryptocurrency market capitalization drop is being attributed to a major shift to bearish sentiment. Bitcoin volumes and volatility are still lower than ether’s but Ethereum-based opportunities have analysts optimistic for the future.
Bitcoin (BTC) trading around $32,938 as of 21:00 UTC (4 p.m. ET). Losing 7.6% over the previous 24 hours.
Bitcoin’s 24-hour range: $31,277-$35,614
Ether (ETH) trading around $2,502 as of 21:00 UTC (4 p.m. ET). In the red 8.2% …
Ether’s dominance is at 19.78%, the highest it has been since May 16.
Investors are parking bitcoin in places like decentralized finance (DeFi) while excitement in trading ether continues to be elevated.
Bitcoin (BTC) trading around $35,679 as of 21:00 UTC (4 p.m. ET). Losing 0.25% over the previous 24 hours.
Bitcoin’s 24-hour range: $35,335-$36,742
Ether (ETH) trading around $2,736 as of 21:00 UTC (4 p.m. ET). In the green 2% over the previous 24 hours.
Ether’s 24-hour range: $2,677-$2,840
Bitcoin, the world’s largest cryptocurrency by market capitalization, was down Monday by 0.25% as of press time. …
When Bitcoin undergoes a technological shift, it’s a test of narratives that underpin the asset’s value.
Bitcoin’s strongest narrative is “digital gold.” Investors buy it not out of an expectation that it will behave like gold behaves in the market today, but that it will some day take on the historic importance that gold has held across cultures and ages.
My colleague George Kaloudis recently reminded me that there’s one important aspect in which bitcoin (BTC, +0.91%) will never be like gold: In a vault or in the ground, gold will always be gold; bitcoin, however, is a technology, and…