This week on The Market Report, the resident experts at Cointelegraph discuss what artificial intelligence (AI) altcoins are, what their potential benefits are, how they work, and whether they can be a catalyst for a 2023 bull market. We start off this week’s show with the latest news in the markets: BTC price 3-week highs greet US CPI — 5 things to know in Bitcoin this week Bitcoin (BTC) starts a new week on a promising footing, with BTC price action near one-month highs — but can it last? The move precedes a conspicuous macroeconomic week for crypto markets, with …

Bitcoin (BTC) traders faced disappointment at the Jan. 10 Wall Street open after the United States Federal Reserve declined to comment on future policy. Powell keeps quiet on Fed policy Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it stayed flat at around $17,250 on Bitstamp. Hopes had focused on a fresh BTC price catalyst courtesy of the Fed in the form of a speech by Chair Jerome Powell. Speaking at the International Symposium on Central Bank Independence at Sweden’s Central Bank headquarters in Stockholm, however, Powell avoided the topic of U.S. monetary policy altogether. “I will address …

Bitcoin (BTC) stayed above $17,000 on Jan. 10 as risk assets awaited fresh cues on policy from the United States Federal Reserve. Powell to kick off week of U.S. macro triggers Data from Cointelegraph Markets Pro and TradingView showed BTC/USD consolidating after hitting $17,396 on Bitstamp the day prior — its highest since Dec. 16. The pair gained in line with gold early in the week, seeing a slight cool-off as U.S. stocks also lay in wait for potential Fed catalysts. Fed Chair Jerome Powell was due to speak at a central bank conference on the day, with bulls hoping …

Shares of publicly traded Bitcoin (BTC) miners surged on Jan. 9 as traders piled into equity markets amid growing bets that the United States Federal Reserve would soon be able to relax its aggressive fight against inflation. Bitcoin miners Riot Blockchain (RIOT), Hut8 (HUT), Bitfarms (BITF), Marathon Digital Holdings (MARA) and others posted double-digit percentage gains in intraday trading. The rally coincided with a broad uptick in equity markets, with the large-cap S&P 500 Index rising 1% and the technology-focused Nasdaq gaining 2% before paring gains. Markets rallied ahead of an eagerly awaited U.S. consumer price index report later this …

Bitcoin (BTC) has finally pushed above the $17,000 mark after rallying to $17,375 on Jan. 12. with both the bulls and the bears eyeing the Consumer Price Index (CPI) due on Jan. 12. If the print shows that inflation is cooling off, risk assets may rally, but a negative surprise could attract strong selling. While some believe that a macro bottom could be forming in Bitcoin, others remain skeptical. They draw a parallel between the current bear market and the dot-com bubble burst. The United States Federal Reserve stopped raising rates in May 2000 but the Nasdaq did not bottom …

Ethereum's native token, Ether (ETH), rose to three-week highs, rallying in lockstep with the broader cryptocurrency market, as well as stocks. ETH price rises to three-week highs On Jan. 9, the ETH's price rose 2.85% to cross above $1,325 for the first time in three weeks, a key level that could pave the token's path toward $1,350 next if its previous price performance is any indication. The crypto market's capitalization gained 2.66%, or $21.18 billion, in the same period. Cooling inflation boosts Ethereum price Investors are rushing into riskier markets on signs of cooling inflation. Notably, on Jan. 6, the …

Undoubtedly, 2022 was one of the worst years for Bitcoin (BTC) buyers, primarily because the asset’s price dropped by 65%. While there were some explicit reasons for the drop, such as the LUNA-UST crash in May and the FTX implosion in November, the most important reason was the U.S. Federal Reserve policy of tapering and raising interest rates. Bitcoin’s price had dropped 50% from its peak to lows of $33,100 before the LUNA-UST crash, thanks to the Fed rate hikes. The first significant drop in Bitcoin’s price was due to growing market uncertainty around potential rate hike rumors in November …

There is little agreement among Bitcoin’s commentators over the last few weeks, with crypto execs, research analysts and billionaire investors offering wildly different takes on what's in store for Bitcoin for the year ahead. One crypto exchange founder expects Bitcoin (BTC) to spike to $40,000 by the “summer” of 2023, while a Bitcoin billionaire has renewed his bullish $250,000 BTC price prediction for the year. Erik Voorhees — $40,000 by the “summer” Erik Voorhees, founder and CEO of cryptocurrency exchange ShapeShift, was optimistic about a potential recovery of Bitcoin’s price during an interview with Bankless on Jan. 2, stating he …

December will likely be remembered by Bitcoin's (BTC) fake breakout above $18,000, but apart from that brief overshoot, its trajectory was entirely bearish. In fact, the downward trend that currently offers an $18,850 resistance could bring the BTC price below $16,000 by mid-January. A handful of reasons can explain the negative movement, including the reported withdrawal of Mazars Group auditing firm from the cryptocurrency sector on Dec. 16. The company previously handled proof-of-reserve audit services for Binance, KuCoin and Crypto.com. Additionally, one can point to the bankruptcy of one of the largest cryptocurrency miners in the United States, Core Scientific. …

Solana (SOL), the cryptocurrency once supported by Sam Bankman-Fried, pared some losses on Dec. 30, a day after falling to its lowest level since February 2021. Solana price down 97% from November 2021 peak On the daily chart, SOL's price rebounded to around $10.25, up over 20% from its previous day's low of approximately $8. Nevertheless, the intraday recovery did little to offset the overall bear trend — down 97% from its record peak of $267.50 in November 2021, and down over 20% in the past week. But while the year has been brutal for markets, Solana now joins the …

Gold and stocks have underperformed in 2022, but the year has been difficult for Bitcoin (BTC) investors, in particular. Worst year for Bitcoin since 2018 Bitcoin price looks prepared to close 2022 down nearly 70% — its worst year since the crypto crash of 2018. BTC's depressive performance can be explained by factors such as the Federal Reserve hiking interest rates to curb rising inflationary pressures, followed by the collapse of many crypto firms, including Terra, Celsius Network, Three Arrow Capital, FTX, and others. Some companies had exposure to defunct businesses, typically by holding their native tokens. For instance, Galaxy …

Project Hamilton, the research project of the United States Federal Reserve Bank of Boston and Massachusetts Institute of Technology (MIT), announced its conclusion in the runup to Christmas. The two-year project looked at the technical aspects of a hypothetical United States digital dollar central bank digital currency (CBDC). “Project Hamilton took critical early steps toward a deeper understanding of how money might work better for all,” Boston Fed executive vice president Jim Cunha said in a statement announcing the conclusion of the project. In February, the technologically “agnostic” project released a white paper and open-source research software called OpenCBDC in …