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The U.S. central bank now seems increasingly likely to suspend its more than year-long campaign of interest rate hikes. An analyst flags recessionary concerns in a note to CoinDesk.
A throwback is a countertrend move where prices reverse direction and move back towards a breakout point, paving the way for a strong rally.
Crypto traders on Twitter are citing data that suggests bitcoin has been traded to keep BNB afloat.
Hong Kong's rules for crypto would mean plenty of restrictions for Coinbase; bitcoin trades flat as Asia equity markets open.
The two largest cryptos by market value have shown a remarkable ability to weather crypto turmoil and macroeconomic events over the past year.
Hinman suggested in his 2018 speech that bitcoin (BTC) and ether (ETH) were not securities, in his view.
The latest price moves in crypto markets in context for June 13, 2023.
The 14-day average of miner transfers to exchanges has increased sharply to 489.26 BTC, the highest since March 2021, according to Glassnode.
- 05:02Expectations for the Federal Reserve to cut interest rates are increasing, with market focus on April's PCE inflation indexAgainst the backdrop of weak GDP data, market participants have increased their expectations for a rate cut by the Federal Reserve. The related FOMC swap is now priced at about 37 basis points of cuts within 2024, slightly lower than the approximately 33 basis points before the release of GDP data. Today's market trend will be driven by April's PCE inflation index, which is most closely watched by the Fed. The market consensus expects that both year-on-year and month-on-month overall and core PCE data will remain flat compared to last month. It's worth noting that due to falling ticket prices, core services PCE excluding housing may see a significant (but temporary) decline. With signs of cooling in the U.S labor market, PCE data could weaken somewhat, although this level of weakness is unlikely to significantly reassure the Fed. If indicators do show weakness, policymakers might welcome this positive news but are expected to still maintain a stance favoring higher interest rates over a longer term.
- 04:30BTC worth over 300 million USD has been transferredAccording to Whale Alert, around 12:12 Beijing time, 4,502 BTC (308,948,771 US dollars) were transferred from an unknown wallet to a new unknown wallet.
- 04:27The Bitcoin spot ETF had a net inflow of 48.706 million US dollars yesterday, continuing for 13 days of net inflowsAccording to SoSoValue data, yesterday (Eastern Time May 30), the total net inflow of Bitcoin spot ETF was $48.706 million. Yesterday, Grayscale's ETF GBTC had a net outflow of $0.00, and the current historical net outflow of GBTC is $17.777 billion. The Bitcoin spot ETF with the highest single-day net inflow yesterday was Fidelity's ETF FBTC, with a single-day net inflow of $119 million; currently, FBTC's total historical net inflow has reached $8.884 billion. Next is Bitwise ETF BITB, with a single-day net inflow of $25.932 million; currently, BITB's total historical net inflow has reached $1.964 billion. As of press time, the total asset value of Bitcoin spot ETFs is $59.026 billion; The ratio between the Net Asset Value (NAV) and market capitalization represents 4.37% against bitcoin’s overall market cap; The cumulative historic flow into these funds totals at around USD 13.809 Billion.
