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Crypto & Web3CoinDesk ·

US Core CPI Rises 0.3% in August, Raising Odds of Fed Rate Hike

US core consumer prices rose 0.3% in August, exceeding analyst forecasts, according to the latest CPI report. The hotter-than-expected inflation reading has heightened speculation that the Federal Reserve may move to raise interest rates. The report carries particular significance after Fed Chair Kevin Warsh recently warned that the central bank could be forced to act if inflation fails to cool. Warsh made those remarks approximately two weeks before the data was released. The figures put the Fed in a difficult position as policymakers weigh their next move on monetary policy.

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Crypto & Web3CoinDesk ·

Bitcoin Drops to $77,000 as Inflation Data Fuels Rate Hike Fears

Bitcoin fell sharply to $77,000, recording a 5% decline over the week as markets braced for the latest U.S. inflation report. The broader cryptocurrency market followed suit, with all major digital assets trading in negative territory. Zcash was among the hardest hit, tumbling 10% in a single day. The sell-off came as the probability of an interest rate hike climbed to nearly 70%, rattling risk assets across the board. Investors are closely watching the August Consumer Price Index print for further direction on monetary policy.

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Crypto & Web3CoinDesk ·

Bitcoin Climbs to $77,200 as Broader Crypto Market Shows Mixed Recovery

Bitcoin edged up 0.7% from midnight UTC to trade around $77,200, showing signs of a modest recovery. A majority of assets in the CoinDesk 100 index — 68 out of 100 constituents — posted gains during this period. Despite the short-term uptick, the broader CoinDesk 100 index remained 1.4% lower over the full 24-hour window. The recovery coincided with the unwinding of leveraged positions in Zcash, easing some pressure across the market.

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Crypto & Web3CoinDesk ·

Bitcoin Retreats After Golden Cross Signal Fails to Spark Rally

Bitcoin has pulled back in price following the formation of a so-called golden cross, a technical chart pattern typically seen as a bullish indicator. The golden cross occurs when a short-term moving average crosses above a long-term moving average, often interpreted as a signal of potential upside. However, historical data suggests that significant price gains tend to materialize before the signal appears, rather than after. This means traders who act on the golden cross may already be too late to capture the bulk of the rally. The latest instance has reinforced this pattern, with Bitcoin failing to sustain momentum following the signal.

Rising yields, oil prices leave bitcoin vulnerable ahead of U.S. inflation report · ShortSingh