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All attention is currently directed toward Bitcoin [BTC] exchange-traded funds [ETFs] and their interaction with the Securities and Exchange Commission [SEC]. Many are hopeful about the approval of the recent wave of Bitcoin ETF applications. While analysts maintain a 65% optimistic outlook regarding the approval of these funds, the aftermath could potentially invigorate the entire crypto landscape in the U.S. According to Eric Balchunas at Bloomberg, the U.S. has the potential to account for an overwhelming 99.5% of the worldwide trading volume in crypto -related ETFs. This case, however, hinges on the condition of an approved spot Bitcoin ETF . At present, the trading volume of crypto ETFs is dominated by North America, accounting for 97.7% of the total ratio. Also Read: Spot Bitcoin ETF Approval Odds at 65%: Bloomberg Source James Seyffart, another analyst, noted earlier that there are U.S. investments in Canadian ETFs. He hinted at the possibility of funds being brough...

The Bureau of Labor Statistics (BLS) has released the Consumer Price Index (CPI) data for the month of June in the United States. Furthermore, the data shows that inflation in the country has declined to 3%, impacting Bitcoin and other crypto. Following the lower-than-expected inflation numbers, the price of major cryptocurrencies, including Bitcoin, has surged. According to CoinMarketCap data, Bitcoin showed a 0.77% rise in the last 24 hours. Also read: Ripple CTO Sets Defining Date for Lawsuit Verdict Global crypto Market cap including BTC up by 1% The current inflation numbers have had a positive impact on the crypto market. It should be highlighted that the current trend demonstrates a steady decrease from the previous month’s rate of 4% and 4.9% in April. Following the release of the inflation data, Bitcoin price has surged from a 24-hour low of $30,429 to a high of $30,959, before falling to its current price of $30,770. Also read: 24...

However, there was a surprise sell-off when the Federal Reserve made good on its intention to pause the historic interest rate hikes for the first time since March 2022. advertisement The largest cryptocurrency plunged recording losses of at least 4% following the Fed’s decision on interest rates. Although Bitcoin price is trading at $25,040 on Thursday, the sharp drop extended to $24,835, bringing the cumulative seven days losses to 5.1%. Bitcoin price chart | Source CoinGape Why is Bitcoin Price Falling Despite Pause on Interest Rate Hikes? As reported on Wednesday, at least 76% of the economists interviewed by Dow Jones expected the Fed to halt the long-standing interest rate hikes. Analysts generally believed this would be a boost for Bitcoin price and crypto. However, according to John Gilbert, a Market Analyst at eToro, while the Fed paused interest rates this month, the regulator signaled the possibility of further increases in the future. This st...

While the impact of Inscriptions are still notably high, data from crypto analytics platform Glassnode revealed that the impact of these new innovations is reducing gradually. The data showed that the percentage of Bitcoin Transaction Fees originating from Inscription transactions remains elevated at 26%.  advertisement The data provider highlighted that there are only 12 out of a total of 111 trading days that recorded a larger relative share. This accounts for 10.8% of all the trading days. Glassnode also points to the fact that the current fee dominance remains significantly lower than its peak, where Inscriptions were responsible for a staggering 62% of all the transaction fees on the network. The percentage of #Bitcoin Transaction Fees originating from Inscription TXs remains elevated at 26%, with only 12 / 111 (10.8%) trading days recording a larger relative share. However, the current fee dominance remains significantly lower than its peak, where I...

- Advertisement - Bitcoin has formed two successive gaps on the derivatives platform. - Advertisement - Veteran trader Peter Brandt appears to have taken a jab at Bitcoin traders who make decisions based on Bitcoin Chicago Mercantile Exchange (CME) gap formations alone. The classical chartist did this in a tweet today, pointing out that Bitcoin has formed two successive gaps on the derivatives platform; he tweeted: “Two huge unfilled gaps. I encourage you hot shot young guns to go short.” Two huge unfilled gaps. I encourage you hot shot young guns to go short $BTC pic.twitter.com/YVDiEhhifD — Peter Brandt (@PeterLBrandt) March 19, 2023 What is the CME Gap? To understand what the CME gap is, one must first understand how the CME operates. It is worth noting that while crypto can be traded round the clock on crypto exchanges, CME closes on the weekend and parts of the day.  Hence, while the futures price on the CME is fixed during this break, Bitcoin ’s ...

Toward the end of last week, Bitcoin’s price surpassed $31.1k. After noting a slow weekend, its price continued to hover around the psychological $30,000 mark. At press time, nonetheless, bears were seen in control, as Bitcoin was trading in red on the days after noting a 1.4% depreciation. BTC/USDT by TradingView That being said, the market continued to be characterized by greed. During the early hours of Monday, April 17, Bitcoin’s fear and greed index depicted a reading of 69, bringing to light the same. On one hand, greed calls for a market correction. On the other, several analysts believe that Bitcoin’s latest $30k feat is just the beginning of what is expected to blossom into a full-fledged bull run over the mid-term. Bitcoin Fear and Greed Index is 69. Greed Current price: $30,312 pic.twitter.com/ffEnOcqyWQ — Bitcoin Fear and Greed Index (@BitcoinFear) April 17, 2023 Also Read: China’s Yuan Could Rally 5.5% Against U.S. Dollar in 2023: Asset Manager Bitcoin p...

Bitcoin (BTC) is currently testing the $25,000. Since last week, the original cryptocurrency has made gains of nearly 12%. BTC is currently trading at a level not seen since mid-June 2022. Moreover, there is evidence that BTC might have reached its bottom. According to CryptoQuant, five on-chain metrics prove Bitcoin (BTC) has reached its bottom. MVRV Ratio : Firstly, CryptoQuant mentions the MVRV Ratio. This ratio determines if BTC is overpriced or undervalued by comparing its market cap to its realized cap. If the value goes high, it signals that the asset is overvalued, and if it goes low, it is undervalued. Furthermore, BTC’s current MVRV ratio is in the neutral zone, indicating a fair value. Source: CryptoQuant Supply in Loss : The next metric is the Supply in Loss percentage. The metric helps in determining market sentiment. The amount of Bitcoin (BTC) held at a loss reached its peak from mid-July to late December 2022. Source: CryptoQuant SOPR Ratio (Spent out...