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Crypto

Why bitcoin cannot clear $80,000 as oil surge to $100 adds pressure

Bitcoin erased overnight gains after U.S. stocks opened on Sept. 9, as investors grew cautious ahead of U.S. producer and consumer price data. Major altcoins also fell. Brent crude climbed above $100 a barrel for the first time since July 23, adding pressure on risk assets, while Treasury yields stayed high. Spot bitcoin ETF flows turned negative on Sept. 8. In contrast, Zcash surged on ETF-related developments and the launch of options trading.

Crypto

Shiba Inu breaks 11-month downtrend, climbs above 200-day moving average

Shiba Inu has moved above its 200-day moving average, ending an 11-month downtrend that began in September last year. It has stabilised in a $3.22 billion to $3.26 billion market-cap band that is shifting from resistance to support. Japan’s Financial Services Agency licensed Nomura-backed Laser Digital and included Shiba Inu among approved institutional assets. A $3.1 billion short squeeze and strong August performance also supported gains.

Crypto

Shiba Inu daily burn rate jumps more than 88 percent as U.S., Japan trading infrastructure expands

Shiba Inu sent 39.23 million SHIB to an inaccessible dead wallet over the past 24 hours, pushing its daily burn rate up more than 88 percent. Weekly burn pace slowed, while market interest held as trading support expanded in the United States and Japan. Over the past seven days, 192.84 million SHIB was burned, though the weekly burn rate fell 38.86 percent. SHIB also posted a sharp short-term rise before entering a support test area.