U.S. investors have been waiting for a Bitcoin exchange-traded fund (ETF) approval since May 2014 when the Winklevoss Bitcoin Trust filed an amendment request at the Securities and Exchange (SEC). Over the years, the SEC has rejected every applicant and the latest denial was issued to WisdomTree’s application for a spot Bitcoin ETF on Oct. 11. The SEC concluded that the offer did not have the ability “to obtain information necessary to detect, investigate, and deter fraud and market manipulation, as well as violations of exchange rules and applicable federal securities laws and rules.” Bitcoin investment trust vehicles have existed …

This week, Bitcoin’s (BTC) price took a tumble as a hotter-than-expected consumer price index (CPI) report showed high inflation remains a persistent challenge despite a wave of interest rate hikes from the United States Federal Reserve. Interestingly, the market’s negative reaction to a high CPI print seemed priced in by investors, and BTC’s and Ether’s (ETH) prices reclaimed all of their intraday losses to close the day in the black. A quick look at Bitcoin’s market structure shows that even with the post-CPI print drop, the price continues to trade in the same price range it has been in for …

Ethereum's native token, Ether (ETH), looks ready to undergo a massive rally due to a mix of technical and fundamental factors. From a technical perspective, ETH's price now eyes a 35% rebound by the end of October after holding testing a key support level. This level is a rising trendline that has capped Ether's downside attempts since June 2022, as shown below. In other words, traders have shown interest in buying Ethereum tokens near this level in recent weeks. Meanwhile, the accumulation sentiment has prompted the price to rise toward another significant level — a horizontal trendline resistance near $1,800, …

Non-fungible token (NFT) trading volumes may have dropped nearly 98% since January, but several industry executives tell Cointelegraph it's nothing to fear as the technology continues to develop and mature. Jonathon Miller, managing director of cryptocurrency exchange Kraken in Australia said “despite NFT market activity and sales volume having slowed down in September, we are still seeing positive adoption signals at an institutional level and continued growth in use cases.” He told Cointelegraph that the company remains “bullish on the NFT space” and believes it will be “just as disruptive and innovative as Bitcoin was 10 years ago," and said …

Huobi Token (HT) has been up 12% in the last 24 hours and is one of the few cryptocurrencies bucking the general downtrend. Trading at over $7, HT's price is up over 80% since the beginning of this week, which is also its best weekly performance since February 2021. HT's intraday gains coincide primarily with crypto exchange Huobi Global announcing the opening of Starfish Finance (SEAN) spot trading on its platform. Plans to "empower" HT Additionally, HT's impressive weekly gains were related to About Capital Management. On Oct. 8, this Hong Kong-based investment firm announced purchasing Huobi Global, one of …

If you were to hang around crypto traders this week, you would hear three phrases repeatedly muttered: “volatility,” “bond prices” and the potential of a “sharp move” in Bitcoin (BTC) price. Multiple analysts have placed emphasis on Bitcoin’s range-bound price action, leading some to question whether this is a sign of a market bottom, or even a decoupling from equities markets. In a recent “The Week On-chain” newsletter, Glassnode analysts said: “Recent weeks have seen an uncharacteristically low degree of volatility in Bitcoin prices, in stark contrast to equity, credit, and forex markets, where central bank rate hikes, inflation, and …

On this week’s The Market Report show, Cointelegraph’s resident experts discuss if the new consumer price index (CPI) and United States inflation data will be bullish or bearish for Bitcoin (BTC). To kick things off, we break down the latest news in the markets this week: Related: Biggest mining difficulty spike in 14 months — 5 things to know in Bitcoin this week Macro forces are brewing, while Bitcoin network fundamentals defy the bears — which side will win out when it comes to BTC price action? The price of Bitcoin has been relatively uneventful and boring these past few …

It’s been a tough year for risk assets across the board, and it’s fair to blame the macroeconomic situation. A combination of factors has ignited a surge of inflation in developed economies and forced central bankers to react. As a consequence, several events — including inflation, payrolls, interest rate announcements, and speeches from monetary authorities (especially in the United States) — have had a relevant impact over the risk asset prices globally. As bad news prevailed, the turmoil spread across different asset classes and regions. By mid-September, all the main stock indexes from developed countries recorded double-digit negative returns (year …

Analysts who closely monitor traditional markets have started calling for a volatility spike in cryptocurrencies due to dire macroeconomic conditions. Signs of stress coming from credit markets took investors by surprise after the British pound hit a record low against the U.S. dollar on Sept. 26 and liquidity concerns surrounding major global banks like Credit Suisse and Deutsche Bank are boosting traders’ bearish sentiments. According to the Labor Department, unemployment in the United States reached 3.5% in September, the lowest in 43 years. Although that might sound positive at first mention, it indicates that the economy continued to overheat despite …

Bitcoin (BTC) adoption by governments and companies remains a dubious question and the “digital gold” thesis proposed by advocates faced harsh critics after Tesla sold 75% of its holdings in the second quarter of 2022. Larger entities buying or selling Bitcoin have always moved the needle on how close countries are to using cryptocurrencies as a store of value. Currently, the average purchase price of El Salvador’s Bitcoin holdings stands at $45,000, making it a rather unprofitable investment. Regardless of how long adoption by the large institutional holders will take, and its subsequent impact on price expectations, it is possible …

Traders’ sentiment about Ether (ETH) has noticeably improved as the price rallied 7.5% from Oct. 2 to Oct. 6, but the price recapturing the $1,350 level was not compelling enough to trigger any bullish activity from derivatives traders. Ether price is still 32% below the $2,000 level last seen on Aug. 14 and the network’s average transaction fee stood near $2 after the Merge. The most significant upgrade on the Ethereum chain happened on Sept. 15, switching from energy-intensive mining technology to a set of validators required to deposit 32 ETH in staking. Although necessary to implement future sharding or …

In this week’s episode of Market Talks, we welcome Rekt Capital, a cryptocurrency analyst who shares macro research, commentary and technical analysis related to crypto markets. He publishes a popular newsletter and provides courses that help educate traders on how to make informed decisions when buying and selling cryptocurrencies. He has more than 328,000 followers across his various social media platforms, many of whom are prominent individuals, including big names like Binance CEO Changpeng Zhao. First things first, we have officially entered Q4 2022 and, more importantly, October, which has historically been a bullish month for cryptocurrencies. We ask Rekt …