The system is broken, stated the Kobeissi Letter, as the US stock market experienced a decline alongside cryptocurrency following the release of the robust jobs report. Attention was focused on the US jobs report released on Friday, revealing that the US economy added 162,000 jobs in August, significantly surpassing expectations of approximately 55,000-58,000. The unemployment … Read more
Bitcoin exchange-traded funds have maintained their positive momentum, drawing in billions of dollars in fresh investments over the last week. U.S. investors have allocated $2.56 billion since last Monday, as reported by data, contributing to an increase in the price of the leading cryptocurrency. This week, approximately $652 million in new capital has flowed into … Read more
Last week, Bitcoin saw its most remarkable weekly increase in three years, rising from less than $65,000 to nearly $80,000 in less than 48 hours. Such explosive moves are typically followed by a sharp retracement as investors tend to secure profits, particularly after extended periods of sideways activity devoid of significant gains. BTC has indeed … Read more
A relatively small change in the U.S. government bond market catalysed one of bitcoin’s most pronounced rallies in recent months this week, as declining long-term yields provided traders with a rationale to reverse a historic accumulation of bearish positions in the cryptocurrency market. The U.S. Treasury announced an increase in the scale of its buyback … Read more
Bitcoin dropped to over $63,500 on Thursday, down more than 0.5% for the day and nearly 2% for the week, as a consistent U.S. inflation data was sufficient to allay concerns but insufficient to influence the market. Hyperliquid’s HYPE was the standout, increasing by more than 3% to $56, although it remained unchanged over the … Read more
Bitcoin faced continued pressure on Tuesday, over 24 hours after the announcement that Strategy had sold 1,690 bitcoins to finance the repurchase of its preferred stock, leading to a decline in the cryptocurrency’s value. While bitcoin initially appeared to have strong support just below $64,000, market data indicate it lost momentum after breaching that level. … Read more
Bitcoin surpassed $65,000 on Monday, reflecting an increase of nearly 3% over the week, as the market anticipates July inflation data set to be released on Wednesday at 8:30 a.m. following Friday’s disappointing jobs report alleviated concerns regarding the necessity for the Federal Reserve to increase interest rates. Ether traded near $1,919 and has experienced … Read more
Bitcoin maintained a position above $64,600 on Thursday, exhibiting a slight increase for the day and a 0.5% rise over the week, as the other major cryptocurrencies provided minimal guidance. Attention is also focused on SpaceX, owned by Elon Musk, where approximately $101 billion of stock will become tradable on Thursday as the initial lockup … Read more
Following a commendable increase in July, Bitcoin transitioned into August; however, historical trends suggest that the market could be on the brink of experiencing one of its most volatile periods of the year. While July has traditionally been a favourable month for Bitcoin, August has exhibited variable performance in previous market cycles. Therefore, the forthcoming … Read more
Bitcoin experienced a modest increase on Wednesday, following the Federal Reserve’s decision to maintain interest rates at their current levels. After rising by almost 1% in the hour after the news, the top cryptocurrency was recently valued at nearly $64,402 per coin. As anticipated, the U.S. central bank maintained the federal funds rate within the … Read more
