Wednesday, February 8, 2023
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Bitcoin analysts eye weakening US dollar as BTC price fights for $17K

Bitcoin (BTC) bulls attempted to retake $17,000 into the Dec. 4 weekly close as volatility looked set to return to the market.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBollinger Bands demand BTC pricevolatilityData from Cryptox Markets Pro and TradingView showed BTC/USD crisscrossing the $17,000 mark — a focal point throughout the

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Cryptocurrencies react to Jackson Hole, Fed rate hike plans and a weakening bear market rally

The European stock markets and the United States equities markets are both deep in the red on Aug. 22 as investors fear that aggressive rate hikes may not be off the table. Another thing keeping investors nervous could be the upcoming  Jackson Hole economic symposium, which is scheduled to begin on

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Latest Turkey Inflation Rate of 79.6% the Highest in 24 Years — Weakening Lira and Russia-Ukraine War Blamed – Economics Bitcoin News

According to the latest data from the Turkish Statistical Institute, the country’s annual inflation rate for the month of July was 79.6%, the highest in 24 years. Rising transportation costs, food and non-alcoholic beverages were some of the product categories that contributed to the overall rate increase. Transportation Costs Rose

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Morgan Stanley Says Crypto Markets Are Weakening as Central Banks Look to Tighten

Cryptocurrency’s usage as a payment vehicle/exchange of value is what should drive its valuation in the long run. However, the market has been trading most cryptocurrencies like speculative risk assets, as evidenced by the correlation between bitcoin and equity markets in the last six months, the report said. Source

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Key Indicator Says Bitcoin’s Momentum Is Weakening: Where Will BTC Head?

Bitcoin has been stuck in the $9,000s for the past two months, trading between $8,500 and $10,000 for weeks on end.While the cryptocurrency has maintained the $8,500 support level on multiple occasions, a key indicator shows that the bullish momentum is weakening.Related Reading: Crypto Tidbits: BTC At $9k, Grayscale Ethereum

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