The 10-year Treasury yield in the United States rose to its highest level since 2008. Although this type of rally is usually negative for risky assets, the U.S. stock markets recovered ground after the Wall Street Journal reported that some officials of the Federal Reserve were concerned about the pace of the rate hikes and the risks of over-tightening. While it is widely accepted that the U.S. will enter a recession, a debate rages on about how long it could last. On that, Tesla CEO Elon Musk recently said on Twitter that the recession could last “probably until spring of …

San Francisco-based fintech firm Ripple has inched closer to victory in its ongoing battle with the U.S. Securities and Exchange Commission (SEC). On Oct. 21, Ripple General Counsel Stuart Alderoty confirmed on Twitter that they finally have the elusive documents after "18 months and 6 court orders," though noted they remain confidential at the SEC’s insistence. “It was well worth the fight to get them,” he exclaimed, adding: “I’ve always felt good about our legal arguments, and I feel even better now. I always felt bad about the SEC’s tactics, and I feel even worse about them now.” The fought-over …

The lack of a decisive catalyst and the strength in the United States dollar index (DXY) has kept the recovery of risky assets under check. Bitcoin (BTC) remains stuck inside a tight range, searching for that elusive breakout. The longer the time Bitcoin spends inside the range, the greater will be the eventual breakout from it. The short-term uncertainty in cryptocurrencies does not seem to have altered the long-term view of institutional investors. BNY Mellon CEO Robin Vince said that a survey commissioned by the bank showed that 91% of institutional investors were keen to invest in some type of …

Ripple users may be able to interact with Ethereum-compatible decentralized applications (DApps) in the future following the launch of a test phase of Ripple’s new XRP Ledger sidechain. The launch of the sidechain was shared in a Tweet by blockchain development firm Peersyst Technologies on Oct. 17, noting that the new sidechain is compatible with Ethereum Virtual Machine (EVM). This means that Ripple users could eventually have access to decentralized applications like Uniswap (should it port over) and Web3 wallets such as Metamask and XUMM Wallet. The new sidechain also comes with a cross-chain bridge built to transfer XRP and …

The United States equities markets have made a bullish start to the new week. The S&P 500 is up about 2.60% and the Nasdaq Composite has rallied more than 3%. This indicates that the markets have shrugged off September's high inflation reading and shifted focus onto the third-quarter earnings. The stock market’s recovery could pave the way for Bitcoin (BTC) to break out of the range it has been stuck in for the past several days. A positive sign for the bulls is that the amount of Bitcoin held in cold storage or lost has risen to a five-year high, …

XRP XRP has made considerable gains over the past month as traders continue to shower confidence on Ripple's legal win against the U.S. Securities and Exchange Commission (SEC). For instance, XRP price has gained 25% thirty days after Ripple and the SEC filed for an immediate ruling on whether or not XRP sales violated U.S. securities laws. In comparison, Bitcoin BTC and Ether ETH are down 4% and 11% over the same period, respectively. Now, a flurry of indicators, ranging from on-chain to technical, hints XRP can continue its uptrend going into 2023. XRP price "bull pennant" Bull pennants are …

The United States consumer price index (CPI) increased 8.2% annually in September, beating economists’ expectations of an 8.1% rise. The CPI print lived up to its hype and caused a sharp, but short-term increase in volatile risk assets. The S&P 500 oscillated inside its widest trading range since 2020 and Bitcoin (BTC) also witnessed a large intraday range of more than $1,323 on Oct. 13. However, Bitcoin still could not shake out of the $18,125 to $20,500 range it has been stuck in for the past several days. Both the U.S. equities markets and Bitcoin tried to extend their recovery …

The United States Federal Reserve has been aggressively hiking rates in an attempt to cool down inflation and that has kept the U.S. equities markets under pressure. Investors have been closely watching the inflation figures for early signs of topping out but to no avail. Wholesale prices rose 0.4% in September, exceeding the Dow Jones' estimate for a 0.2% gain. This suggests that inflation is yet to respond to the Fed’s monetary tightening. All eyes will now be fixed on the consumer price index data to be released on Oct. 13. Equity traders can expect volatility to pick up following …

According to Ripple CEO Brad Garlinghouse, the long-drawn-out battle between Ripple and the U.S. Securities and Exchange Commission is nearing its conclusion — but it could still take many months. The native token XRP has been on a tear over the past month thanks to increased speculation about a successful resolution to the case before the end of the year. On Oct. 11, Garlinghouse told panelists at the DC Fintech Week conference that he expects the case against his firm to come to a conclusion in the first half of 2023 but admitted that it was hard to predict. The …

The United States equities markets have started the week on a weak note as investors remain unconvinced that the Federal Reserve will pull back its aggressive monetary policy. The Nasdaq Composite index fell to its lowest level since September 2020. All eyes will be fixated on the U.S. Consumer Price Index data for September to be released on Oct. 13 as that could influence the Fed’s decision on the size of the rate hike in the next meeting in November. Depending on how the market perceives the reading, legacy markets and the cryptocurrency markets may witness a pick up in …

It has been difficult for Bitcoin (BTC) and the cryptocurrency markets to start a strong sustained recovery while the United States dollar is near its multi-year high and the U.S. equities markets are near their June lows. This shows that the sentiment remains negative and traders are not interested in taking on risk in their portfolios. The U.S. equities markets fell sharply on Oct. 7 following the release of September’s nonfarm payroll data but they did manage marginal gains for the week. The S&P 500 rose 1.5% and the Nasdaq Composite climbed 0.7% last week. Meanwhile, Bitcoin is on track …

The United States nonfarm payrolls increased by 263,000 in September, marginally below the Dow Jones estimate of 275,000, but the unemployment rate dropped to 3.5% compared to the forecast of 3.7%. Some analysts believe the report shows that the jobs market remains strong in spite of the Federal Reserve’s efforts to slow down the economy and that could encourage the Fed to go ahead with another aggressive rate hike in its next meeting in November. This led to a sharp fall in the U.S. equities markets on Oct. 7. Although Bitcoin (BTC) has traded in close correlation with the U.S. …