The crypto community is looking into three key dates this month that could profoundly impact the trajectory of the crypto market and the wider United States macroeconomic environment this year. On July 13, the monthly Consumer Price Index (CPI) and data relating to inflation will be released to the public. On July 26-27, a decision will be made as to whether to hike interest rates further, while on July 28, the United States Q2 2022 Gross Domestic Product (GDP) estimates will tell us whether the country is in a technical recession. July 13: Inflation marker, CPI Michaël van de Poppe, …

Bitcoin (BTC) has been moving in the opposite direction of the United States dollar since the beginning of 2022 — and now that inverse relationship is more extreme than ever. Bitcoin and the dollar go in opposite ways Notably, the weekly correlation coefficient between BTC and USD dropped to 0.77 below zero in the week ending July 3, its lowest in seventeen months. Meanwhile, Bitcoin’s correlation with the tech-heavy Nasdaq Composite reached 0.78 above zero in the same weekly session, data from TradingView shows. That is primarily because of these markets’ year-to-date performances amid the fears of recession, led by …

Ethereum's native token Ether (ETH) fell on the final trading day of Q2/2022, trading in sync with riskier assets amid persistent fears of higher inflation and rising interest rates. And it could result in further declines heading into Q3. ETH price breakdown underway ETH's price plunged nearly 5% this June 30 to $1,044 following a four-day losing streak. The ETH/USD pair has also broken below its interim rising trendline support, which in conjugation with a horizontal trendline resistance to the upside, constitutes an "ascending triangle" pattern. Ascending triangles are bearish continuation patterns when they occur after a sharp downtrend. Therefore, …

Bear markets have historically been challenging to navigate for traders and the conventional set of "reliable" indicators that determine good entry points are unable to predict how long a crypto winter might last. Bitcoin’s (BTC) recent recovery back above the psychologically important price level of $20,000 was a sign to many traders that the bottom was in, but a deeper dive into the data suggests that the short-term relief rally might not be enough proof of a macro-level trend change. Evidence pointing to the need for caution was provided in a recent report by cryptocurrency research firm Delphi Digital, which …

A crypto platform is stressing that it has a completely different business model than the embattled Celsius Network — and strives to make its users' money work for them in a sustainable way. In a live ask-me-anything session on Cointelegraph's YouTube channel, YouHodler CEO Ilya Volkov said the interest rates offered through his company are sustainable — and unlike others in the space, the exchange isn't exposed to third-party risk. Volkov said YouHodler is "self-sufficient" and hasn't been backed by an initial coin offering or venture capitalists, with customer funds never placed under someone else's management. Explaining how the trading …

Ethereum's native token, Ether (ETH), gained alongside riskier assets as investors assessed weak U.S. economic data and its potential to cool down rate hike fears. Ether mirrors risk-on recovery ETH's price climbed up to 8.31% on June 24 to $1,225, six days after falling below $880, its lowest level since January 2021. Overall, the upside retracement brought bulls 40% in gains, raising anticipation about an extended recovery in the future while alleviating fears of a "clean fakeout." For instance, independent market analyst "PostyXBT" projected ETH's price to close above $1,300 by the end of June. In contrast, analyst "Wolf" feared …

Bitcoin (BTC) was a response to the 2008 global recession. It introduced a new way to transact without depending on the trust of third parties, such as banks, particularly failing banks that were nevertheless bailed out by the government at the expense of the public. "The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust," Satoshi Nakamoto wrote in 2009. Bitcoin's genesis block sums up the intent with the following embedded message: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks." But while Bitcoin …

The price of CEL, the native token of Celsius Network, has almost quadrupled since June 19 in what appears to be a frenzy stirred up by day traders. CEL price short squeeze CEL's price rose from $0.67 on June 19 to $1.59 on June 21, a 180% spike compared to the crypto market's 12.37% rise in the same period. Notably, the rally started after PlanC, an independent market analyst, announced a $20 million bounty for anyone who could prove that the Celsius Network suffered a coordinated attack at the hands of a third party, which prompted the crypto lending firm …

Canada's Purpose Bitcoin ETF (BTCC) witnessed its Bitcoin (BTC) holdings slashed by half in just one day, suggesting an alarmingly waning buying sentiment among the crypto's most-experienced investors. Purpose Bitcoin ETF has 51% of AUM slashed The fund's holdings dropped from $47,818 BTC to 23,307 BTC between June 16 and 17, its lowest level since October 2021. The 51% drop in BTC holding is also the biggest daily outflow ever. Interestingly, another Canadian crypto fund, dubbed 3iQ CoinShares Bitcoin ETF, witnessed similar outflows, dropping from 23,917 BTC on June 1 to 12,668 BTC on June 17, suggesting the Purpose's massive …

Ethereum's native token, Ether (ETH), underwent a sharp relief rally after falling to $880, its lowest level in eighteen months, on June 18. ETH price regains 30% in two days Ether's price reached above $1,150 this June 19, marking 30%-plus gains in just two days. However, at the beginning of the new weekly session this June 20, the ETH/USD pair hinted at giving up its weekend gains, with its price plunging by almost 9% from the $1,150 high. PostyXBT, an independent market analyst, told his 79,800 followers to be careful about the latest ETH price rally, noting that the move …

The price of Ethereum’s native token Ether (ETH) careened below $1,000 on June 18 as the ongoing sell-off in the crypto market continued into the weekend. Ether reached $975, its lowest level since January 2021, losing 80% of its value from its record high in November 2021. The decline appeared amid concerns about the Federal Reserve’s 75 basis points rate hike, a move that pushed both cryptocurrencies and stocks into a strong bear market. “The Federal Reserve has barely started raising rates, and for the record, they haven't sold anything on their balance sheet either,” noted Nick, an analyst at …

Ripple (XRP) price stares at potential losses in the coming weeks as it breaks out of a "descending triangle" pattern, with its bias skewed toward the downside. Major XRP breakdown underway To recap, XRP started forming the technical structure after reaching $1.98 in April 2021, its second-highest level to date. In doing so, the token trended lower inside a range defined by a falling resistance trendline and a horizontal support trendline. On May 16, 2022, XRP broke below the triangle's support trendline, accompanying a decent increase in trading volumes. The move confirmed the descending triangle as a bearish reversal indicator. …