Bitcoin experienced a steep sell-off alongside equities, marking one of the most severe downturns for risk assets since the “Black Monday” crash of 1987. Core PCE inflation was 2.6%, below expectations of 2.7%, the Fed's preferred inflation measure. With the long weekend ahead of us, what can we expect in the short term & is the data enough for us to have a "soft landing". #siamstr #Siamstr
U.S. Bitcoin exchange-traded funds (ETFs) recorded outflows of $127 million on Tuesday, breaking an eight-day streak of inflows, according to data from Farside Investors. Meanwhile, the U.S. Securities and Exchange Commission (SEC) has sent a Wells notice to non-fungible token (NFT) marketplace OpenSea, according to the firm’s CEO. #siamstr #Siamstr
Vice President Kamala Harris may soon back measures to help grow digital assets, a policy adviser to her campaign said, highlighting efforts to court an emerging cryptocurrency industry expanding its political influence. “She’s going to support policies that ensure that emerging technologies and that sort of industry can continue to grow,” Brian Nelson, senior campaign adviser for policy to the campaign, said when asked about the vice president’s efforts to engage the crypto community during a Bloomberg News roundtable at the Democratic National Convention. #siamstr #Siamstr
Bitcoin gained over the weekend, pushing its price to levels unseen in three weeks, and has since maintained the $63,000 support level. Despite this positive price movement, BTC derivatives traders appear to be relatively unmoved, indicating a lingering skepticism regarding the sustainability of this trend. #siamstr #Siamstr
The time has come for policy to adjust," Federal Reserve chair Jerome Powell said Friday. Powell says that the central bank is poised to cut interest rates, adding that policymakers do not want to see the job market cool any further. #siamstr #Siamstr
Mt. Gox, once a top cryptocurrency exchange during Bitcoin’s [BTC] early days, has continued its slew of transfers, recently moving 13,265 BTC worth $784 million. Meanwhile, “Several” top Federal Reserve officials were ready to cut interest rates in July and most believed a reduction next month is justified in light of slowing inflation and a weakening jobs market, new documents show. #siamstr #Siamstr
Retail investors' inflows into US stocks jumped over the last 2 weeks to their highest levels in at least 12 months. Ethereum’s exchange balance has reached a historic low, falling below 10% for the first time ever, surpassing Bitcoin #siamstr #Siamstr
Bitcoin could see a breakout to new all-time highs as soon as next month, but BTC must first tackle significant resistance around $59,500... based on previous post-halving chart patterns, according to popular analyst Rekt Capital. #siamstr #Siamstr
10,000 BTC, worth nearly $600 million, has been moved by the United States government to a Coinbase Prime address, sparking fear among investors that the tokens will likely be dumped. #siamstr #Siamstr
Bitcoin's recent price volatility has led many to wonder if large-scale bitcoin hodlers are taking advantage of price dips to accumulate more bitcoin. While some metrics may initially suggest an increase in long-term holdings, a closer examination reveals a more nuanced story, especially after the current prolonged period of choppy consolidation. #siamstr #Siamstr
