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The US dollar is now inching towards gradual decay as global markets are bracing for another sensitive week. The upcoming week is dubbed a macro week for worldwide financial markets, with key events unveiled that may change the course of the markets in the long haul. Also Read: BTC Critic Peter Schiff May Become A Bitcoin Proponent If This Happens Volatile Week Approaches: Will USD Derail To A New Low Level? Source: Shutterstock Wu Blockchain says a new sensitive week for global financial markets is almost here. The platform quickly updates the novel critical financial events that may affect the dollar’s valuation in the long haul. For instance, Apple is gearing up to launch its new line of products, which may impact the firm’s share prices. In addition, the US government is also preparing to launch the August CPI data. If the data metrics are deemed negative, this development may further detail the US dollar’s valuation in the long term. Also Read: Digital Ruble Pilot Expa...

Stellar’s pre-announcements may have caused traders to create multiple scenarios for potential XLM developments, but their impact on the XLM price could be short-lived. The Stellar token experienced a notable 11.5% increase in value between Sept. 2 and Sept. 8, a novelty given that Bitcoin and most altcoins are down for the week. The surge came after Stellar (XLM) tested the $0.113 support level, which marked its lowest point in the past eight weeks. The price upswing followed a preliminary announcement made by the Stellar organization on social media.  While the announcement was somewhat cryptic, it hinted at something significant occurring on Sept. 12, with phrases like “something cool is dropping” and "change” on the horizon. XLM price in USD at Bitfinex, 12-hour time frame. Source: TradingView More recently, on Sept. 7, Stellar further heightened expectations by teasing a potential partnership. However, similar to the earlier announcement, no specific details were provided,...

Bitcoin’s price action remains lackluster, but select altcoins are showing signs of breaking out of their respective resistance levels. The 25 basis point rate hike by the Federal Reserve on July 26 and the subsequent commentary by Fed Chair Jerome Powell failed to catapult Bitcoin (BTC) out of its range. This suggests that the event did not have any surprises and the outcome was already priced in by the markets. The crypto markets continued their lackluster performance on July 28 after the United States Personal Consumption Expenditures (PCE) Index print came in lower than analysts’ expectations. The PCE is the Fed’s preferred inflation metric hence it is watched closely by market observers. Daily cryptocurrency market performance. Source: Coin360 Although the near-term price action has kept the traders guessing, it is important to keep an eye on the long-term crypto story. Standard Chartered head of crypto research Geoff Kendrick said while speaking with CNBC that he expects Bitcoi...

SOL, AVAX, FIL and EOS price are beginning to look attractive, especially if Bitcoin opens the week with a renewed attack on the $31,000 level. Nonfarm payrolls rose by 209,000 in June, below economists’ expectations of an addition of 240,000 jobs. Although the figures show a cooling labor market, market observers remained concerned as the average hourly earnings growth held steady at 0.4% from May and 4.4% from a year ago.  The report did not alter expectations of a 25 basis point rate hike by the United States Federal Reserve in the next meeting, according to the FedWatch Tool. That kept the U.S. equities markets under pressure, with all three major indices falling for the week. The S&P 500 was down 1.16% and the Nasdaq was lower by 0.92%. Crypto market data daily view. Source: Coin360 Another minor negative for the crypto markets was a report by JPMorgan managing director Nikolaos Panigirtzoglou, which said that a spot Bitcoin (BTC) exchange-traded fund (ETF) may not prove to ...

Cardano price is down today, continuing its decline for a fourth week in a row amid rate hike fears, SEC crackdown and a recovering U.S. dollar. The price of Cardano (ADA) is down over 3% on June 19 after dropping over 30% in the past two weeks. Is ADA price headed for its fourth red weekly candle in a row?  No respite for Cardano price bulls On June 19, ADA price fell over 3% to daily lows of $0.257 as traders continued to assess Cardano's mention in the list of crypto assets that the U.S. Securities and Exchange Commission (SEC) considers "unregistered securities." ADAUSD daily price chart. Source: TradingView In addition, Federal Reserve's hawkish guidance last week didn't help ADA price either, with another 50 basis points hike now likely in 2023. Higher rates typically decrease investors' appetite for risk assets, such as Cardano. Meanwhile, open interest in the ADA-linked derivatives has dropped to around $111 million, the lowest since January 2021....

A bold prediction states that BTC price can gain 500% between now and April 2024. Bitcoin (BTC) price action may lack momentum this month, but one popular analyst is still eyeing new all -time highs. In his latest Analysis , TechDev confirmed that he believes BTC/USD will see a “parabolic top” around the 2024 block subsidy halving . Can Bitcoin p gain 500% in a year? Less than twelve months away, Bitcoin’s next halving is already the topic of debate among market participants. Some argue that the event will lay the foundations for the next all -time high, in line with previous halving cycles. For TechDev, however, the new BTC price record should come sooner rather later — specifically, in Q2 next year. The idea was originally covered in a Market Update blog post earlier in May. This week, meanwhile, it was described as his “primary time-based idea.” A chart uploaded to Twitter showed the path to the Q2 top dotted with resistance lines — Fibonacci retracement levels and the current a...

Bitcoin traders line up "safe" support levels, but order book data is making one observer uneasy about the future. Bitcoin (BTC) sought to pass $27,000 on May 13 after a “scam wick” produced new two-month lows. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView Traders: BTC price must retain $26,500 Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it recovered from a flash dip to $25,800 on Bitstamp. The pair saw weakness after the start of the week’s final Wall Street trading session, briefly cutting through the key 100-day and 200-week moving averages (MAs) before rebounding. BTC/USD 1-hour candle chart (Bitstamp) with 100-day, 200-week MA. Source: TradingView As the weekend began, traders were split over the likely course of events to come. “Nice daily close. Has to hold 26.5K going forward. That's the line in the sand for me,” Daan Crypto Trades told Twitter followers. BTC/USD annotated chart. Source: Daan Crypto Trades/ Twitter Michaël...

Bitcoin faces a battle for key BTC price support to start the week, while market participants stay optimistic about trend continuation. Bitcoin (BTC) starts a new week under $30,000 as analysts’ predictions of a short-term support retest come true.  The largest cryptocurrency saw a classic dive following its latest weekly close as its latest gains evaporated — will they return? Ahead of a fairly innocuous week for macro data releases, catalysts are likely to come elsewhere as BTC price action makes a decision on a key support zone. Much is at stake for traders, as the week prior offered the opportunity to reinvestigate altcoins as Bitcoin itself cooled its upside. With a retracement now in effect, attention will be on whether those altcoins can hold at their own higher levels. Under the hood, it appears to be business as usual for Bitcoin — network fundamentals, already at or near all-time highs, show no definitive signs of a comedown of their own this week. It may be too early to det...

BTC price action snatches at $30,000, but Bitcoin market participants dismiss it as a "deviation" at range highs. Bitcoin (BTC) set new nine-month highs overnight on March 30 as traders continued to stay cautious. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView "Deviation" takes BTC price closer to $30,0 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD spiking to $29,170 on Bitstamp. A rejection entered almost immediately, sending the pair back to its starting point and causing already suspicious market participants to call a “ fakeout .” # Bitcoin - What a lovely fakeout . This is why you don't chase green candles pic.twitter.com/oJzrMoRi20 — IncomeSharks (@IncomeSharks) March 30, 2023 “Nothing has changed- yea we got a nice little pop above the highs but this was expected,” popular trader Credible Crypto wrote in part of a Twitter reaction, calling the move a “deviation.” BTC/USD annotated chart. Source: Credible Crypto/ Twitte...