U.S. inflation data arrived as expected on Wednesday, reinforcing the view that the Federal Reserve will keep interest rates between 350 and 375 basis points at its June 17 meeting, but will likely raise rates by 25 basis points by the end of the year. The year-over-year consumer price index rose 4.2% in May, according […]
Bitcoin BTC$60,985.58 is teetering near $61,000 and data expected later today could push it to the limit, along with the broader crypto market. The US Consumer Price Index for May is scheduled to be released at 8:30 a.m. ET. The figure is expected to show that the cost of living in the world’s largest economy
The US CPI Scenario That Could Send BTC Price Below $60,000: Crypto Daily Read More »
The crypto market remains under pressure ahead of crucial US inflation data, which is expected to show the cost of living hit a three-year high of more than 4% in May. Tokens such as privacy-focused zcash (ZEC) and Hyperliquid’s decentralized exchange HYPE each fell more than 10% in 24 hours, a signal of risk aversion
Oil prices wavered and stocks fell Wednesday after the United States and Iran exchanged strikes in the Middle East. The attacks, which put a strain on a two-month ceasefire between the two countries, constitute the latest shock to energy markets. The war in Iran has choked the Strait of Hormuz, which normally carries up to
Oil wobbles and stocks fall after wave of Middle East strikes Read More »
Three of Japan’s largest banks have announced they will jointly issue a stablecoin this fiscal year, which ends in March. Mitsubishi UFJ Financial Group (MUFG), Sumitomo Mitsui Financial Group (SMBC) and Mizuho Financial Group will establish a council to explore operational frameworks and prepare for the issuance of stablecoins, according to a statement published on
Japan’s three largest banks plan joint stablecoin issuance by March 2027 Read More »
SpaceX, Elon Musk’s rocket company, plans to publicly sell shares for the first time this week. This is an unusual event in several respects. The company’s IPO would earn it the title of the world’s largest IPO. SpaceX is also offering ordinary investors a much larger share of its shares than is typical for a
SpaceX IPO: What You Need to Know Read More »
XRP holders are increasingly selling at a loss, a classic sign of market capitulation. The 90-day moving average of XRP’s profit-to-loss ratio plunged to 0.38, according to data tracked by Glassnode. This means that for every dollar of loss investors currently make, they only make 38 cents in profit. Essentially, most of the coins traded
XRP Market Shows Signs of Capitulation as Holders Sell at a Loss Read More »
Bitcoin BTC$61,412.97 The rebound from last week’s low is recovering, and gold is falling with it. BTC changed hands at $61,233 on Wednesday, down 3% over 24 hours and 6.9% over the week, while gold fell 2% to below $4,200 an ounce. The market is betting on higher interest rates and punishing assets like bitcoin
BTC and gold collapse as rate hike bet hits all hedges Read More »
A widely followed 5x perpetual leverage on Hyperliquide tied to SpaceX’s impending IPO, expected to be the largest in history, has declined for three straight weeks. The product, called SPCX, traded at nearly $157 on Wednesday, down about 27% from its launch price of around $216 in mid-May, after briefly touching $230. This doesn’t mean
Elon Musk’s company’s pre-IPO market fell 27% in three weeks Read More »
Bitcoin falls to $61,000 following US-Iran escalation; ETF outflows cool again
Bitcoin falls to $61,000 following US-Iran escalation; ETF outflows cool again Read More »
