Bitcoin ($BTC) is down 2% in the last 24hours, trading at $81,698 after US inflation came in hot and raised the odds of another Fed rate hike. Compounding the decline is a cascade of long liquidations ($63.17 million in the past day) and a break below the $82,000 – $83,000 support zone. Institutions have also
CPI data is coming today with expectations at 3.6%. A hot print would raise odds for more rate-hikes while a cool report would boost the chances for the Fed to pause at least through the end of October. Either way, markets might see increased volatility in the second half of the month, which could impact
$175K Bitcoin Outlook Linked to Institutional Ownership Broader ownership and access to capital have strengthened bitcoin’s resilience since the crypto lending failures of 2022, according to Brian Vieten. The senior research analyst at financial services firm Siebert Financial (Nasdaq: SIEB) outlined his assessment in comments supplied to Bitcoin.com News on Oct. 14, projecting prices beyond
US stocks suffered their sharpest selloff since July on Wednesday as hotter-than-expected inflation data weighed on technology and AI infrastructure companies, with Bitcoin miners among those hit. The S&P 500 fell 1.1%, its biggest one-day decline since July 29; the Nasdaq Composite fell 1.9%, its biggest one-day drop since July 23, while the Dow Jones
Bitcoin’s $90K Forecast Faces an $85K Test Bitcoin could regain $85,000 and move toward $90,000 after upcoming economic releases, Matt Mena, senior crypto research strategist at crypto investment product issuer 21shares, told Bitcoin.com News in commentary supplied Oct. 14. He argued that last week’s decline below $85,000 had already reflected much of the downside risk
Bitcoin faces a tougher interest-rate outlook after US inflation data released Oct. 14 pushed bets on another Federal Reserve hike sharply higher. Rising Treasury yields could weigh on Bitcoin by making interest-bearing dollar assets more attractive. Market-data provider LSEG data shows money markets priced in roughly a 47% chance of another October rate increase after
Bitcoin bulls got a rude awakening on Wednesday when September’s hotter-than-expected inflation report sent the cryptocurrency tumbling toward $81,500, dragging leveraged traders into a $331 million liquidation reckoning. The sell-off arrived barely a day after Strategy Chairman Michael Saylor proclaimed the crypto bear market finished and a fresh bull market is underway. Wall Street wasn’t
Saifedean Ammous argues that holding Bitcoin already counts as monetary use, even if $BTC is not yet widely used for everyday retail payments. He expects Bitcoin’s volatility to decline as its market grows and predicts it could eventually surpass gold in total market capitalization. Ammous rejects the idea that fixed supply prevents Bitcoin from functioning
Cathie Wood, the CEO of $ARK Invest, recently expressed her belief that Bitcoin is on the verge of a significant turn. In her analysis, she pointed out that Bitcoin’s price movement contrasts with that of gold, which is trending downward. This commentary, shared by $ARK Invest, suggests a potential shift in market dynamics that could
Renowned investor and founder of Morgan Creek Capital Management, Mark Yusko, suggested that Bitcoin ($BTC) could increase in value eight to tenfold in the coming years. Arguing that Bitcoin could eventually replace gold in the global financial system, Yusko considered a market capitalization of $15 trillion a very realistic target. In an interview with the