Bitcoin (BTC) Price Moves as US CPI for May Hits 2-Year HighThe May Consumer Price Index (CPI) report has just been released, showing that inflation in the United States increased precisely as economists had forecasted.
The figure surged to 4.2%, the highest level since April 2023. For its part, Core CPI (which excludes food and energy prices) has risen to a nine-month peak of 2.9% (again meeting expectations).
This is a concerning development, especially since the Federal Reserve views 2% inflation as healthy. The Kobeissi Letter now warns that the likelihood of future rate hikes is climbing: a factor that may trigger a further sell-off in the already fragile crypto market.
Somewhat surprisingly, though, BTC jumped after the disclosure, reaching almost $62,000 before reversing to the current $61,500 (per TradingView).
Most leading altcoins, including Ethereum (ETH), Solana (SOL), and Ripple (XPR), have mirrored the movement. However, the market remains highly volatile, and the near-term price direction remains unclear.
BTC Price, Source: TradingView The post appeared first on CryptoPotato.
read the full story
The May Consumer Price Index (CPI) report has just been released, showing that inflation in the United States increased precisely as economists had forecasted.
The figure surged to 4.2%, the highest level since April 2023. For its part, Core CPI (which excludes food and energy prices) has risen to a nine-month peak of 2.9% (again meeting expectations).
This is a concerning development, especially since the Federal Reserve views 2% inflation as healthy. The Kobeissi Letter now warns that the likelihood of future rate hikes is climbing: a factor that may trigger a further sell-off in the already fragile crypto market.
Somewhat surprisingly, though, BTC jumped after the disclosure, reaching almost $62,000 before reversing to the current $61,500 (per TradingView).
Most leading altcoins, including Ethereum (ETH), Solana (SOL), and Ripple (XPR), have mirrored the movement. However, the market remains highly volatile, and the near-term price direction remains unclear.
The post appeared first on CryptoPotato.
read the full story
CryptoQuant Warns Bitcoin Demand Remains Weak, Sees Potential Bottom Near $53,600
TL;DR: The realized price metric places the potential market bottom current at $53,600 per unit.…
Is Bitcoin Cheap Yet? Grayscale Flags 2 Catalysts That Could Decide BTC’s Next Move
Grayscale has weighed in on whether bitcoin is cheap after BTC’s recent decline below $60,000. The…
Bitcoin Could Drop Another 20% Before Bear Market Ends, Analysts Warn
Bitcoin is trading near its lowest point since late 2024. And analysts say the bottom probably…
‘Bad Money’: Cramer Says Capital Is Leaving Bitcoin and Gold for Big Tech Winners
TL;DR: Jim Cramer called Bitcoin and gold “bad money,” arguing capital is being liquidated…
Did Bitcoin's 53% Fall Front Run the A.I. Market Collapse?
Bitcoin just suffered a brutal 50% drawdown, but the price action may be signaling something much…
SpaceX IPO threatens Bitcoin as analysts warn of capital drain
Bitcoin remained under pressure near $61,750 as analysts warned that the upcoming SpaceX IPO could…
O'Leary: 'Regulation Is Bitcoin's Next Catalyst'
Many investors anticipated a breakout for Bitcoin following its ascent to new all-time highs, but…
Botanix winds down after questioning long-term demand for Bitcoin L2s
Botanix said its technology worked, but users still preferred wrapped Bitcoin and larger ecosystems…
Saylor Pushes Back Against Dilution Accusations After New Bitcoin Bet
Strategy’s cash reserves are close to hitting $1 billion — a detail that has become central…
CME Group Launches Crypto Index Futures Tracking Bitcoin, Solana and XRP
CME Group has launched Nasdaq CME Crypto Index futures, giving investors a regulated way to trade…
Bitcoin miner margins fall to record low: Will BTC’s $60K floor hold?
Bitcoin miner profits recently fell to record lows, while Bitcoin struggles to hold the $60,000…
Bitcoin Obituaries Keep Coming—CZ Isn’t Buying It
Bitcoin fell to its lowest weekly close since the second half of 2024 last week, capping a stretch…
Bitcoin Crushed Top 100 Altcoins Since 2020, But Charts Indicate More Pain by July
Bitcoin beat the top 100 altcoins since 2020, and TOTAL2 charts project nearly 50% more downside…
Noah Doe-Linked Bitcoin Awakens Again as Another 2011 Casascius Coin Cashes Out
Onchain records show yet another Casascius physical bitcoin has been redeemed, this time from an…
Coinbase Urges Congress to Treat Stablecoins Like Cash and Ease Crypto Tax Burdens
The exchange argued that tracking gains on stablecoin purchases creates administrative complexity…
More Pain For Bitcoin? Analyst Explains Why BTC’s Bottom May Be Months Away
As Bitcoin (BTC) hovers near its lowest levels since late 2024, a market observer suggests the…
Bitcoin Now Testing Key Demand Area Following A Triangle Breakdown
Bitcoin is testing a key demand zone after breaking down from a symmetrical triangle, putting the…
Tim Draper Explains Why Bitcoin Is Safer Than Banks in the Quantum Era
Debate continues over whether decentralized systems or centralized financial institutions are better…