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BTC price gets a fresh boost from market calm over Fed interest rate policy, as Bitcoin traders eye further gains. Bitcoin (BTC) headed higher into the Sep. 14 Wall Street open despite fresh macro data showing resurgent United States inflation . BTC/USD 1-hour chart. Source: TradingView Bitcoin gains while U.S. PPI beats forecast Data from Cointelegraph Markets Pro and TradingView followed BTC price action as it made new September highs, topping out at $26,762. Bitcoin built on strength seen after the previous daily close, ignoring the implications of the U.S. inflation rebound as confirmed by both the Consumer Price Index (CPI) and Producer Price Index (PPI) August prints. The latter came in at 1.6% year-on-year against market expectations of 1.3%. Crypto nonetheless joined traditional markets in rejecting the idea that U.S. macro policy might stay more restrictive for longer in order to tame inflation . According to CME Group’s FedWatch Tool, there was practically no consensus over ...

Cointelegraph analyst and writer Marcel Pechman breaks down the Federal Reserve balance sheet and explains why China’s deflation can negatively impact Bitcoin. On the latest episode of Macro Markets , analyst Marcel Pechman explains the impacts of the United States Federal Reserve’s balance sheet, breaking down how the Fed inflated its assets by $5 trillion between December 2019 and April 2022. Pechman notes that the expansion period coincides with a 38% crash in the S&P 500 index. Moreover, the Federal Reserve balance sheet surpassed the $8.9 trillion mark right as the stock market index reached its 4,800-point all-time high. The problem, according to Pechman, is that the U.S. Treasury Department has a huge deficit, as the government spends more than it gets from revenues and taxes. Consequently, it needs to start rolling some of the debt instead of letting it expire, so odds are it won’t be able to continue reducing the balance sheet any longer — something that has been a huge c...

Cointelegraph analyst and writer Marcel Pechman explains how Argentina’s 150% inflation is actually helping the altcoin market by luring more investors. On today’s Macro Markets show, veteran stock market and Cointelegraph analyst Marcel Pechman starts by analyzing Argentina’s 150% inflation , which proves that people continue to work and consume (somehow) even if their local currency loses its value. What is the lesson here? For starters, everyone wants free money. That explains why altcoin s and airdrops continue to attract attention, regardless of whether the majority of investors end up being unprofitable. You might think that those investors would quickly learn their lesson, but in reality, quite the opposite occurs. All it takes is a new market ing strategy — a new way of promising free money — just like the Argentines have a tendency to forget the mess the governments have caused over the course of 10 years. For Pechman, the bottom line is: Forget any promise of free money or ...

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...

For the first time since November 2022, Ethereum surpassed the $1.4k mark. Thanks to its 12% weekly incline, the asset was priced at $1411 during press time. On the fundamental front, Ethereum recently scripted another record. The number of validators on its network surpassed the 500k benchmark on January 12. After its network’s shift to the PoS consensus mechanism, miners were replaced by validators . They essentially help in boosting the security of the network by making it more decentralized and less prone to attacks. Source: BeaconScan Also Read: ETH, ADA, SOL trigger “Altcoin Rally” but Investors should be Wary To become a validator on Ethereum, one has to deposit 32 ETH . According to the latest data from CryptoQuant, the total value staked is currently on the verge of hitting the 16 million mark. The staked tokens are locked for now. However, they can be un-staked or withdrawn after the Shanghai upgrade. The same is slated to take place in March th...