Bitcoin (BTC) sentiment is seeing its first significant test of the rally to year-to-date highs as bullish gains dry up. The start of Wall Street trading on March 30 failed to induce a fresh advance on BTC/USD, which threatened to lose support at $47,000. From "extreme fear" to "greed" in one week After gaining nearly 30% since March 14, Bitcoin has managed to cling to its yearly opening price as support, this previously marking the resistance ceiling of its trading range for throughout 2022. Now, however, hopes of a retracement appear to be coming true, as momentum shows signs of …

Some of the most prominent organizations in the gold industry have joined forces to launch a new “integrity program” that utilizes blockchain technology for supply chain management — a move that’s intended to help market participants verify the authenticity of their bullion. London Bullion Market Association (LBMA) and the World Gold Council (WGC) announced Monday that they are collaborating to develop an “international system of gold bar integrity, chain of custody and provenance” that’s based on blockchain technology developed by companies aXedras and Peer Ledger. The ledger will be used to register and track gold bars at each stage of …

Bitcoin (BTC) "may be primed" for a quantum leap in its development thanks to inflation this year, a Bloomberg analyst has claimed. In a tweet on March 17, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, released a fresh bullish take on Bitcoin's future under current macro conditions. Gold beating Bitcoin "unlikely" this year Well known for his belief in Bitcoin coming out on top from the latest global financial turmoil, McGlone argued that inflation would ultimately help Bitcoin's "maturation" as an asset class. It would even beat gold in terms of returns. "Facing the Federal Reserve, inflation and war, …

Bitcoin (BTC) held $40,000 on March 17 after an anticipated key interest rate hike from the Federal Reserve delivered a strong response. Fed singles out Ukraine war in inflation comments Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing to local highs of $41,500 after the Fed announced it would raise rates by 25 basis points to 0.5% — the first such move since 2018. The Federal Open Market Committe (FOMC) voted almost unanimously for the raise, with an accompanying statement warning of persisting "upward pressure on inflation" thanks specifically to the war in Ukraine. "The invasion of Ukraine …

The world is becoming increasingly volatile and uncertain. The assertion that “inflation is the silent thief” is becoming less relevant. In 2021, inflation has turned into a rather loud and brazen robber. Now, inflation is at its highest in the last forty years, already exceeding 5% in Europe and reaching 7.5% in the United States. The conflict between Russia and Ukraine affects futures for gold, wheat, oil, palladium and other commodities. High inflation in the U.S. and Europe has already become a real threat to the capital of tens of thousands of private investors around the world. Last week at …

The market capitalization of gold-backed crypto tokens increased by 60% in 2022 to surpass $1 billion for the first time in history, according to Arcane Research in its latest weekly report. Gold shines, Bitcoin disappoints In 2022, investors have been rushing to the perceived safety of gold-backed crypto assets, whose value is pegged to the price of gold. Namely, PAX Gold (PAXG), Tether Gold (XAUT), and similar precious metal-backed digital assets have been climbing in value as investors "diversify inflation bets" within the crypto sector, explains Arcane Research. PAXG is also outperforming Bitcoin (BTC) this year, as shown in the …

Bitbull Capital CEO, Joe DiPasquale, thinks Bitcoin (BTC) is still on track to reach $100K within the next 24 months despite the bearish sentiment dominating the crypto markets since the start of the year. “I think 2023 is a safe bet. We might need some time during 2022 to take a breath and to kind of let out some of the steam,” DiPasquale said. “We are reaching higher lows and even higher highs”, he added, commenting on Bitcoin’s price movement in the last few months. Following the breakout of a military conflict between Russia and Ukraine, Bitcoin has shown mixed …

Bitcoin (BTC) erased then recovered its daily gains later on March 8 as United States President Joe Biden announced a complete ban on Russian oil imports. BTC comes full circle while gold steals the show Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it targeted $38,000 an hour after Tuesday's Wall Street open. Having hit $39,240, the pair swiftly changed trajectory as Biden confirmed the plans, which added to oil's already strong gains and further pressured stocks and risk assets. "Today I'm announcing that the United States is targeting the main artery of Russia's economy," he said at …

In the case of stablecoins, unfortunately, the name is so far a misnomer. The fact that stablecoins are pegged to a “real” asset does not equate to stability. Traditional underlying assets are not exempt from market fluctuations, and with the majority of stablecoins pegged to fiat, they can be just as unstable. What the name could be, however, is aspirational — something that stablecoins might yet live up to if they can tie themselves to a solid foundation. Where did all the stability go? At risk of confusing metaphors, stability is the currency of the day. Markets are volatile, debt …

Bitcoin (BTC) has the potential to become a "good bet" for investors if the Federal Reserve does everything it can to keep the U.S. economy afloat against impending recession risks, according to popular analyst Bitcoin Jack. The independent market analyst pitted the flagship cryptocurrency, often called "digital gold" by its enthusiasts, against the prospects of further quantitative easing by the U.S. central bank, noting that the ongoing military standoff between Ukraine and Russia had choked the supply chain of essential commodities, such as oil and wheat, resulting in higher global inflation. For instance, consumer prices in Europe jumped 5.8% year-over-year …

Bitcoin (BTC) pulled off an impressive double-digit rally this year, but the digital asset has been struggling to break the $45,000 resistance lately. This level does not hold any historical importance because it has been easily breached multiple times. The same can be said for Bitcoin's $850 billion capitalization, which isn't anywhere close to silver's $1.4 trillion, or the Amazon and Google's $1.7 trillion market value. Bitcoin's market cap is often compared to gold, which has a $12.3 trillion total value and is currently the leading global store of value solution. Therefore, the answer to the $45,000 resistance might lay …

Bitcoin (BTC) extended its gains nearly hitting $45K on March 1 as interest rate speculators reduced their bets on aggressive rate hikes in 2022, the number of whale addresses spiked, and amid speculations that BTC is proving itself as an apolitical safe-haven. Traders reduce half-point bets for March BTC's price surged more than 4% to reach nearly $45,000, a day after recording its biggest one-day increase since February 2021 as a flurry of sanctions on Russia, including a ban from accessing the global banking system SWIFT, raised concerns over their impact on global growth and inflation. For instance, swaps tied …