Bitcoin circles $20K pre CPI amid warning Fed risks ‘blowing up’ economy
"Highly elevated" CPI numbers due in hours as one theory suggests that there is already no more room for Fed rate hikes.
Auto Added by WPeMatico
"Highly elevated" CPI numbers due in hours as one theory suggests that there is already no more room for Fed rate hikes.
Ethereum funds have been undergoing a modest recovery after witnessing 11 weeks of continuous outflows.
A pause in dollar strength allows Bitcoin price action to stem losses, but the outlook is anything but positive, analysts warn.
This week, Bitcoin's 150-day EMA is set to close below its 471-day EMA for only the third time in history.
Crypto market jitters around inflation expand with Bitcoin and Ethereum dropping to levels not seen since last week.
Support is thin on the ground, analysts and traders warn, as ex-BitMEX CEO Arthur Hayes heralds the start of the fiat currency "doom loop" with USD/EUR parity.
A potent combination of CPI figures and more make for a problematic week as Bitcoin price struggles.
BTC price performance is just about on course to cap its biggest advance since March on the weekly chart, but anything could happen before the close.
Sideways action has little time left to run, metrics suggest, as shorters increase bets on a dip below $20,000.
It's all about two moving averages crossing over as proof that BTC price action is done with the dip.