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Crypto
Grayscale says bitcoin may have bottomed earlier than four-year cycle
Grayscale has raised the possibility that bitcoin may have hit its bottom earlier than the timing implied by the traditional four-year cycle. Grayscale Research head Zach Pandl said bitcoin is becoming a mature asset and is increasingly influenced by macroeconomic variables, including the Federal Reserve\'s rate decisions. He said bitcoin may already have bottomed if the Fed does not raise rates and economic growth holds. Regulatory uncertainty remains a risk.
Crypto
Bitcoin struggles near $64,000 as strong dollar, PCE and oil price swings shape week
Bitcoin is struggling to find direction near $64,000, with a stronger U.S. dollar and upcoming inflation data seen as key drivers this week. The dollar index has moved back above 100, weighing on risk assets. Investors are watching the Fed’s preferred PCE inflation gauge, GDP revisions and jobless claims, as well as a sharp drop in oil after a U.S.-Iran peace deal. Traders are also focused on July seasonality, $60,000 support and short-term holder selling.
Crypto
Bitcoin holds up despite highest U.S. CPI since 2023; $80,000 support seen key
Bitcoin (BTC) increased volatility around $81,000 after a U.S. inflation report. U.S. April CPI rose 3.8 percent from a year earlier, the highest since 2023, Cointelegraph reported. Energy prices drove much of the increase. The CPI data also shook expectations for Federal Reserve policy, with commentary pointing to a rising chance of a shift toward rate hikes. Traders highlighted $78,800 as support and $82,600 as resistance.