Analysis Today TheBitTimes.com

The Ethereum network has faced withdrawals from its smart contract applications, putting the recent ETH price rally in check. Ether (ETH) price faced resistance after hitting the $1,970 level on July 3. A number of factors capped the rally, including higher odds of more interest rate hikes in the coming months and a tighter regulatory cryptocurrency environment. Macro headwinds from the Fed Besides the external factors, the Ethereum network has faced withdrawals from its smart contract applications, which also put the June rally in check. Investors now question whether the tailwinds from Bitcoin’s (BTC) ETF requests have faded, opening room for a correction down to the $1,700 level last seen on June 16. The recent macroeconomic events may provide some hints, including the, U.S. Gross Domestic Product grew by an annualized 2% in the first quarter, Germany’s Consumer Price Index increased 6.8% in June versus the previous year, and The China Caixin global services purchasing managers’ i...

BTC’s price could be on the verge of a bullish breakout, according to derivatives data, but ultimately the macroeconomic scenario will dictate the trend. Bitcoin’s  price has stabilized near $27,000 since May 13, displaying reduced volatility in the period. This movement is eerily similar to early April, when Bitcoin’s (BTC) 12-hour chart ranged between $27,800 and $28,700 for 11 days. Traders are now questioning whether a bullish breakout is the next possible outcome for the Bitcoin price . Bitcoin/USD price index, 12-hour. Source: TradingView According to technical Analysis , the sideways movement illustrates an ongoing conflict, meaning traders are unsure about the direction of Bitcoin’s next price trend. This is a consequence of balanced demand between buyers and sellers, which typically precedes periods of extreme price volatility and is triggered by big events. In other words, Bitcoin traders are waiting for a potential market trigger that could decisively push the BTC price...

The total crypto market cap has stalled at the $1.2 trillion level, but derivatives data shows bulls are preparing for the next breakout. After gaining 11% between March 16 and March 18, the total crypto market capitalization has been battling resistance at the $1.2 trillion level. This same level was reached on August 14, 2022 and was followed by a 19.7% decline to $960 billion over the next two weeks. During the lateralization period between March 20 and March 27, Bitcoin (BTC) gained 0.3%, while Ether (ETH) posted modest gains of 1.6%. Total crypto market cap in USD, 12-hour. Source: TradingView One source of favorable short-term momentum is a change in the Federal Reserve’s monetary policy The U.S. Federal Reserve was forced to increase its balance sheet by $393 billion between March 9 and March 23 in order to provide short-term loans to failing banks. The objective of the plan was to reduce inflation, which has significantly impacted the cost of living and ultimately hampered ec...

BTC margin and options markets are steady, even as investors run for cover as crypto and stock prices fall. Bitcoin (BTC) traders saw continued downward pressure after the 5.5% decline in BTC price on March 7. Increased odds of further interest rate increases by the Federal Reserve and regulatory pressure in cryptocurrencies explain some of the movement. Financial markets showed signs of stress as the inverted bond curve reached its highest level since the 1980s. Longer-term dated yields have stalled at 4%, while two-year treasury notes traded above 5% yield in March. Since July, longer-dated treasury yields have failed to keep pace with the surging two-year benchmark, resulting in the inverted curve distortion that typically precedes economic downturns. According to Bloomberg, the indicator reached a full percentage point on March 7, the highest level since 1981, when Fed Chair Paul Volcker faced double-digit inflation. This week, BlackRock, the world's largest asset manager, in...

BTC options data suggest that the Bitcoin price rally still has legs, even with wider economic concerns growing and the potential of a brief pause in the crypto market rally. This week Bitcoin (BTC) rallied to a 2023 high at $23,100 and the move followed a notable recovery in traditional markets, especially the tech-heavy Nasdaq Composite Index, which gained 2.9% on Jan. 20. Economic data continues to boost investors' hope that the United States Federal Reserve will reduce the pace and length of interest rate hikes. For instance, sales of previously owned homes fell 1.5% in December, the 11th consecutive decline after high mortgage rates in the United States severely impacted demand. On Jan. 20, Google announced that 12,000 workers were laid off, more than 6% of its global workforce. The bad news continues to trigger buying activity on risk assets, but Dubravko Lakos-Bujas, chief U.S. equity strategist at JPMorgan, expects weaker earnings guidance to "put downward pressure...