"Highly elevated" CPI numbers due in hours as one theory suggests that there is already no more room for Fed rate hikes.
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Bitcoin circles $20K pre CPI amid warning Fed risks ‘blowing up’ economy
Bitcoin (BTC) rebounded from overnight lows on July 13 as markets nervously waited for United States inflation data.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewCountdown to “highly elevated” inflation reveal
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing from $19,250 to $19,900 at the time of writing, up 3.3% on the day.
With three hours to go until the release of Consumer Price Index (CPI) data for June, crypto markets showed little sign of advance volatility.
Previously, the U.S. government had warned that the CPI figures were expected to be “highly elevated,” with unofficial projections from other sources indicating a year-on-year inflation increase of nearly 9%.
“CPI coming out at 8.8% today. Watch. I’ve got a strong feeling this is the number,” popular crypto YouTuber Ben Armstrong agreed.
Crypto winter presents an opportunity amid chaos, says asset group exec
Alex Tapscott told Cointelegraph that bear markets lead to great ideas being formed and new businesses being built.
Crypto winter presents an opportunity amid chaos, says asset group exec
Alex Tapscott told Cointelegraph that bear markets lead to great ideas being formed and new businesses being built.
Vermont becomes the sixth US state to launch investigation against Celsius
The state financial regulator alleged that Celsius violated state security laws by offering high crypto interest rate accounts to customers and unethically using clients’ funds to invest in illiquid products.
Ethereum price risks 'bear flag' breakdown, 20% drop against Bitcoin
Ethereum funds have been undergoing a modest recovery after witnessing 11 weeks of continuous outflows.
Ethereum price risks ‘bear flag’ breakdown, 20% drop against Bitcoin
Ethereum funds have been undergoing a modest recovery after witnessing 11 weeks of continuous outflows.
‘Hypocrisy’: Judge denies SEC motion to keep Hinman docs secret in Ripple case
The SEC has argued that the documents should be protected because Hinman wrote the speech as a “personal errand,” but the judge didn’t buy it.
Institutional investor sentiment about ETH improves as Merge approaches
Professional investors are warming to Ethereum again as ETH-based funds see a third consecutive week of inflows.
Liquidators can subpoena 3AC founders despite 'tricky issues' with crypto assets
The counsel for liquidators said he didn’t know the current location of Zhu or Davies, alleging the duo have not provided "meaningful cooperation" with the liquidators.
California regulator investigating crypto interest accounts
The regulator also said in its view that certain crypto interest account providers were providing unregistered securities, such as BlockFi and Voyager.
Bitcoin to make new all-time-highs within 24 months: Coinshares CSO
Bitcoin (BTC) may have further to fall, but Coinshares chief strategy officer Meltem Demirors believes the top cryptocurrency will reach new all-time highs within the next 24 months.
Speaking on CNBC’s Squawk Box on July 11, Demirors noted that Bitcoin has always been a “cyclical asset” with drawdowns from peak to trough at 80 to 90% historically.
With Bitcoin currently sitting at about 65% down from its all-time highs in November 2021, Demirors believes “there is still room for some downward correction.”
However Demirors noted there has been strong support around $20,000 and that she did not expect Bitcoin to fall below $14,000. She predicted the pain would be a distant memory by 2024, saying:
“In the next 24 months, we will see new all-time highs in Bitcoin.”
Bitcoin to make new all-time-highs within 24 months: Coinshares CSO
Demirors however said she certainly expects “more pain ahead” for tech stocks and crypto as we head closer to recession.
US Treasury study finds CBDCs a plus for commercial bank stability
Access to CBDCs reduces banks’ need to insure against liquidity risks and gives policymakers greater information about trouble in the financial system, according to the study.
US Treasury calls for public comment on digital asset policy, following Biden's executive order
President Joe Biden's executive order on crypto from March directed the Treasury Department to take the lead among other government agencies in developing policy recommendations.
SEC extends window to decide on ARK 21Shares spot Bitcoin ETF to August
J. Matthew DeLesDernier, assistant secretary for the SEC, said it had extended to allow for “sufficient time to consider the proposed rule change and the issues raised therein.”
SEC extends window to decide on ARK 21Shares spot Bitcoin ETF to August
J. Matthew DeLesDernier, assistant secretary for the SEC, said it had extended to allow for “sufficient time to consider the proposed rule change and the issues raised therein.”
Nervous Network (CKB) price posts double-digit gain after Godwoken layer 2 launch
CKB booked a 35%+ gain after the release of its Godwoken L1 solution and the launch of a new NFT marketplace.
Nervous Network (CKB) price posts double-digit gain after Godwoken layer 2 launch
CKB booked a 35%+ gain after the release of its Godwoken L1 solution and the launch of a new NFT marketplace.
Nervous Network (CKB) price posts double-digit gain after Godwoken layer 2 launch
Positive price movement during bear markets are notoriously hard to come by due to the non-stop FUD of media and lackadaisical interest from crypto investors.
One crypto that managed to flash green on June 12 is the Nervos Network (CKB), an open blockchain protocol designed for universally accessible decentralized applications (DApps).
Data from Cointelegraph Markets Pro and TradingView shows that CKB put on a 50% gain in July after climbing from a low of $0.0033 on June 30 to a daily high of $0.005 on July 12.
CKB/USDT 4-hour chart. Source: TradingViewThree reasons for the positive gains for the Nervos Network include the launch of the network's layer-2 (L2) solution Godwoken, the integration of the Celer c-Bridge within the Godwoken protocol and the launch of a new nonfungible token (NFT) marketplace on the Nervos mainnet.
Nervos launches a layer-2 solution
The recent price rally for CKB was ignited on June 29 when the protocol announced that its L2 solution “Godwoken” had officially launched on the Nervos Network mainnet.
