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“Bitcoin has behaved similarly to tech stocks, albeit with some idiosyncratic events, namely forced selling by large institutions like Three Arrows Capital,” he told CryptoX in a written note. “There doesn’t seem to be any indication that crypto will stop moving in response to Fed policy decisions, though Ethereum’s upcoming
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Despite surging inflation, war in Ukraine, concerns of a recession and volatile global currency moves, bitcoin is weakening relative to ether (ETH). The market cap ratio of the two tokens has dropped to around 1.9x, from as high as 20x in 2016, the report said. Original Source
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After forging a minor recovery of sorts earlier this month, the crypto market has returned to exhibiting high levels of volatility over the past two weeks. This trend has pervaded the market since late last year, with the total market capitalization of the digital asset industry having dipped from an
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The International Monetary Fund (IMF) published a study on the spike in positive correlation with Bitcoin (BTC), Ethereum (ETH), and Asian equities. The financial organization claims digital assets began an accelerated integration with the region during the pandemic as more people traded them looking to generate yield. From 2020 to its
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Before the COVID-19 pandemic in Asia there was a strong division between the crypto and financial markets in general. Now, that border has got thinner and the situation demands additional regulatory measures, the International Monetary Fund (IMF) believes. In a blog post from Aug. 21, a group of IMF economists shared
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“Crypto, on the other hand, doesn’t have the same valuation metrics. It’s still in its infancy and so are its valuation models,” he said to CryptoX via email. “That ambiguity, with respect to valuations, is what allowed for investors to justify chasing prices higher. If I’m right on that, then
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The Bitcoin (BTC) price chart from the past couple of months reflects nothing more than a bearish outlook and it’s no secret that the cryptocurrency has consistently made lower lows since breaching $48,000 in late March.Bitcoin price in USD. Source: TradingViewCuriously, the difference in support levels has been getting wider
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The latest price moves in bitcoin ($BTC) and crypto markets in context for July 12, 2022. Original Source
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On Wednesday, the U.S. Labor Department is scheduled to release June's consumer price index figure. The data is likely to show the cost of living rose 1.1% month-on-month, bringing the annualized figure to a new four-decade high of 8.8%. The CPI stood at 8.6% in May. The core inflation, which
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Bitcoin (BTC) has been moving in the opposite direction of the U.S. dollar since the beginning of 2022 — and now that inverse relationship is more extreme than ever.Bitcoin and the dollar go in opposite waysNotably, the weekly correlation coefficient between BTC and the dollar dropped to 0.77 below zero
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