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The U.S. central bank has been telegraphing its intent to renew rate hikes for weeks. ThePersonal Consumption Expenditures report arrives Friday, but cryptos and other risk-on assets have been largely immune to macro events.
Bitcoin-related funds saw outflows of $13 million over the past week, reversing five weeks of bullish inflows, according to Coinshares analyst James Butterfill.
Digital asset investment products recorded outflows last week for the first time since mid-June, CoinShares reported.
Regulatory uncertainty surrounding Binance, the largest crypto exchange, tends to weigh on crypto prices.
Worldcoin price soared to $3.58 shortly after launching but traders and crypto advocates have many concerns.
MKR looks primed to continue the rally given its recent buyback mechanism and two other key metrics that impact Maker’s price.
Bitcoin price is down today as investors expect the Federal Reserve to raise rates and crypto whales send record amounts of BTC to exchanges.
The latest price moves in crypto markets in context for July 24, 2023.
Bitcoin is at the pivotal 50-day SMA support, and a drop below this level could result in accelerated selling of BTC and altcoins.
One analyst pointed out the $27,000 level could be a short-term target for bitcoin amid the lack of positive news.
- 15:56Analyst: Bitcoin's Maximum Potential Drop Is Around $50,000 If U.S. Recession HappensOn 10 March, DeFi analyst Adaora Favour Nwankwo said in a post on the X platform, ‘Bitcoin's price action is closely tied to US economic indicators. Here's one possible scenario: if a recession occurs, Bitcoin's maximum potential decline is around $50,000; if there is no recession, its floor is expected to be between $70,000 and $75,000. Key market watchers are paying close attention to Wednesday's release of Consumer Price Index (CPI) data, which could have a significant impact on Bitcoin's price action.’
- 15:53The past 24 hours across the network futures burst 695 million U.S. dollars, the main explosion of long ordersMarch 10, Coinglass data show that the past 24 hours cryptocurrency market network futures burst 695 million U.S. dollars, of which $520 million long single burst, short single burst 175 million U.S. dollars.BTC burst a total of 286 million U.S. dollars, ETH burst a total of $123 million U.S. dollars.
- 15:52New York Fed: Expectations for deterioration in financial conditions over the next year are the strongest since November 2023Expectations for a deterioration in financial conditions over the next year are the strongest since November 2023, the New York Fed said.