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Bitcoin (BTC) drooped but was still trading comfortably over $20,000 as investors chewed over a surprising gain in the latest U.S. GDP report. The U.S. Commerce Department reported that gross domestic product rose 2.6% in the third quarter, instead of the projected 2.4% gain. The increase followed two consecutive declines
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Any growth in gross domestic product might be negative for the bitcoin market, since the Federal Reserve will have to keep raising interest rates to bring down inflation – typically bad for prices of risky assets. Source
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Chinese researchers say that such an initiative would increase monetary cooperation and reduce dependency on the U.S. dollar, but that probably isn’t what different countries want. Source
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BTC was holding around $19,300, even as traditional markets lost steam following the release of third-quarter company earnings reports. Original Source
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XRP climbed above its 200-day moving average while MKR hit a three-week high. A higher-than-estimated figure for core PCE, the Fed's preferred measure of inflation, may inject volatility into markets. Source
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The latest price moves in bitcoin (BTC) and crypto markets in context for Sept. 21, 2022. First Mover is CryptoX’s daily newsletter that contextualizes the latest actions in the crypto markets. Source
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While noting bitcoin's encouraging rebound from $18,500 earlier in the week, Joe DiPasquale, CEO of crypto asset manager BitBull Capital also said that such resurgences have not been unusual for cryptos during down markets. "While bulls will welcome this bounce, it is important to note how continued bearish price action
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Ether, the second largest crypto by market cap and token of the Ethereum blockchain, was recently changing hands above $1,600, up 0.8% from a day earlier. Ethereum's Merge, which will shift the protocol from proof-of-work to a more energy-efficient proof-of-stake protocol, and has excited investors, is roughly a week away. Original
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As the price drops to $7.55, the Polkadot (DOT) price analysis suggests that the trend is still bearish. Polkadot price analysis reveals a downward trend DOT/USD has looked for support at roughly $7.49 DOT/USD is encountering resistance at $7.74 Previously trading at about $7.74, Polkadot is now looking for support at about $7.49.
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