Search results for U.S. Energy Information Administration
Crypto
Bitcoin rebound driven by whales and ETFs; $69,000 is pivotal
Bitcoin continues trading below $69,000, a level seen as the average cost basis for short-term holders, with the U.S. Federal Reserve decision on July 29 set to test whether the rebound can last. The rally has relied mainly on spot bitcoin ETF inflows and buying by large wallets holding 1,000 to 10,000 bitcoin. Rising oil prices and U.S. Treasury yields are capping gains, while $63,000 is highlighted as key support.
Crypto
Bitcoin miners face U.S. grid test as power demand rises, flexibility proof key by 2027
As U.S. electricity demand climbs through 2027, bitcoin mining firms are being tested on whether they can act as flexible loads that reduce consumption when supply is tight, rather than simply large users of power. The U.S. Energy Information Administration forecasts consumption rising from 4.195 trillion kWh in 2025 to 4.399 trillion kWh in 2027, driven by AI data centres, crypto operations and electrification. Texas grid operator ERCOT runs voluntary curtailment deals, but flexibility can weaken when mining profitability rises.
Crypto
Oil prices ease but gasoline inflation lingers; July U.S. CPI seen as turning point for bitcoin
Bitcoin has recovered to around $63,500 on slower U.S. job growth and a weaker dollar, but analysts see gasoline prices as the key variable for further gains. Markets are watching the June U.S. CPI due on July 14. Oil prices have fallen back toward pre-war levels, but gasoline futures and pump prices remain elevated. Fed messaging is mixed, and Citi cut targets while citing ETF outflows.
