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The central banks of the United States, Canada, Mexico and Brazil have pointed out the risks of crypto but warned against excessively prohibitive laws. Cryptocurrencies like Bitcoin (BTC) have failed to reduce but rather have “amplified financial risks” in less developed economies, according to a new study published by the The Bank for International Settlements (BIS). On Aug. 22, the Consultative Group of Directors of Financial Stability (CGDFS) released a new report on cryptocurrencies, titled “Financial stability risks from crypto assets in emerging market economies.” The study was conducted by BIS member central banks within the CGDFS, including those in Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru and the United States. The document emphasized that the views expressed are those of the authors and “not necessarily the views of the BIS.” According to the authors of the study, cryptocurrencies like Bitcoin hold out the “illusory appeal” of being a quick solution for finan...

Bitcoin continues to face strong resistance at $31,000 but supportive macroeconomic factors could tilt the advantage in favor of the bulls. Bitcoin (BTC) bulls are again having a go at the overhead resistance of $31,000. The bullish sentiment may get a boost from the United States inflation report, which showed signs of slowing down. Economists were expecting the year-on-year consumer price index to rise 3.1% but the June print came in at 3%. The month-on-month increase of 0.2% was also less than forecast. This suggests that the Federal Reserve’s rate hikes are having the desired effect. That may limit future rate hikes by the Fed. Supported by macroeconomic conditions, institutional investors seem to be turning positive on cryptocurrencies, especially Bitcoin. CoinShares report published on July 10 showed inflows of $136 million into digital investment products in the past week. That brings the total inflows of three consecutive weeks to $470 million, indicating a positive outlook. D...

Bitcoin is about to close its worst performing month since FTX collapsed, but a handful of altcoins posted noteworthy gains in May. The crypto currency market experienced a dull month with Bitcoin (BTC) dropping 7.37%, its worst performance since November 2022 and Ethereum (ETH) losing 0.22% in May.  The average loss across the market stands at 5.62% on the last day before the monthly close. However, some outliers posted impressive gains thanks to popular investment narratives and the growth of the Ethereum staking sector. In the first half of May, memecoins grabbed headlines with Pepecoin (PEPE) leading the narrative. The memecoin cycle guzzled up a lot of gas on Ethereum in the first half of May. PEPE’s market capitalization surged to a peak of $1.54 billion in the first week of May, according to CoinGecko. It has witnessed a sell-off since then as token holders booked profit. However, the token still ended the month with over 300% gains. Top 5 performers among the top 100 cryptocu...

BTC price performance looks limp on the last day of May, with the 200-week moving average rapidly coming into view. Bitcoin (BTC) tested $27,000 on May 31 as weakness prevailed into the monthly close . BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Analyst: Bitcoin reaching "crucial area" Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it continued to lose momentum after local highs near $28,500. As early-week excitement faded, traders and analysts warned that now was a make or break point for the short-term trend. “Crucial area approaching here for Bitcoin and dipped into it,” Michaël van de Poppe, founder and CEO of trading firm Eight, summarized. “If this zone sustains as support & Bitcoin will be able to reclaim $27,500, everything looks like we'll continue the upwards trend. Drop beneath $26,600 and we'll see new lows.” BTC/USD annotated chart. Source: Michaël van de Poppe/ Twitter Trader Skew added that spot buy liquid...

Bitcoin holds firm around $29,000 as markets escape a "shock" from the week's main macro event. Bitcoin (BTC) stayed choppy at the April 28 Wall Street open while United States macro data conformed to expectations. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView PCE offers "nothing to shock" Data from Cointelegraph Markets Pro and TradingView showed BTC/USD fluctuating around the $29,000 mark on Bitstamp. U.S. Personal Consumption Expenditures (PCE) Index data, tipped as the macro event of the week, failed to deliver a performance catalyst as numbers broadly conformed to what markets had already priced in. “The trend is our friend, however core sticky for now - hovering at 4.6% since December,” financial commentator Tedtalksmacro responded, adding in Twitter comments that the latest numbers were “Overall nothing to shock the market.” U.S. equities thus showed little movement at the open, while for Bitcoin, Binance order book data showed modest bid l...

ETH price is showing strength, but network and derivatives data suggest that ETH will struggle to hold the $1,850 price level. Ether (ETH) price had been battling the $1,850 resistance level, but it broke through on April 4 when Ether rallied to a 7-month high above $1,900. Recently there has been a lot of speculation on Ether price catalysts, let’s see if it’s possible to identify any fundamental factors behind the price movement.  The upcoming Shanghai hard fork could be one factor in Ether’s recent bullish momentum. On April 12, the ability for validators to withdraw their deposits opens, giving staking participants freedom of movement, but also t creating a sell-off risk for Ether. There are now 17.81 million Ether staked on the Beacon Chain, though some safeguards have been put in place to prevent a flood of Ether from disrupting the market. For example, because there is a daily limit of 2,200 withdrawals, the maximum daily unlocks are 70,000 ETH. Scalability and selfish val...

The ARB airdrop followed the sell-the-news narrative, but Arbitrum's Dapp use and fundamentals remain strong and smart money continues to buy ARB tokens. The Arbitrum token airdrop led to a massive dump of ARB tokens and projects in the Arbitrum ecosystem in a “sell-the-news” type of event. However, the Ethereum Layer-2 activity remains strong, with the selling pressure of ARB tokens likely done with, making the rollup well-positioned for further growth. Arbitrum ecosystem tokens sees sell-the-news type event The Arbitrum (ARB) airdrop was announced on March 16, which caused a significant uptrend in native token prices of Arbitrum ecosystem projects like GMX), Magic , Gains Network (GNS) and Radiant Network (RDNT). The primary reason behind the pump was the ARB airdrop catalyzing the Arbitrum ecosystem’s growth. However, according to a report from An Ape’s Prologue, “this thesis was seemingly front-run,” as the price surge mainly occurred between the period of the airdrop announc...

Ethereum price has turned oversold against Bitcoin, raising the possibilities of a rebound in the coming weeks. Ethereum's native token, Ether (ETH), continues its multi-month downtrend against Bitcoin (BTC) in March, rising 5.5% versus the latter's 19.5% gains on a month-to-date (MTD) timeframe. Bitcoin overshadows Ethereum amid banking crisis As of March 23, the ETH/BTC pair was down about 9% month -to-date (MTD) to 0.0633 while staying on course to record its worst month since September 2022 when it fell 11.75%. ETH/BTC monthly price chart. Source: TradingView From a fundamental perspective, traders preferred Bitcoin over Ether, hoping it would protect them from the ongoing banking turmoil in the U.S. and other parts of the world. The narrative gained momentum in recent weeks as Wall Street investors like Cathie Wood see Bitcoin as a potential "flight to safety" asset. ️CATHIE WOOD: #Bitcoin's response to the banking crisis is the most dramatic example that i...

Bitcoin RSI is back at square one as the mood among traders becomes uncertain after 5% BTC price losses overnight. Bitcoin (BTC) traded around $22,400 at the March 3 Wall Street open as analysts stayed divided over the odds of a recovery. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Hopes for an inverse "Bart Simpson" on BTC Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading flat after a flash crash overnight saw $1,000 shaved off in minutes. As Cointelegraph reported, concerns over the fate of Silvergate bank exacerbated existing market cold feet to spark a margin call cascade to $22,000. At the time of writing, only a modest comeback had taken place, while opinions diverged as to how short-term price action would play out.  "Locked in some profit here on my short at $23,200 and moved my stop loss into profit so it's risk free," a risk-off Crypto Tony told Twitter followers on the day. "Notice those who were quick t...

Despite similar price action, Fantom and Optimism ecosystems are moving in opposite directions and this is reflected in each token’s price. The price action of Optimism (OP) and Fantom (FTM) tokens have been quite identical since the last quarter of 2022. The difference is, volatility is slightly higher for OP, which surged 240% year-to-date, compared to the 180% gains seen in FTM. The Fantom Foundation has made several improvements since Q4 2022, which have catalyzed an uptrend in the token’s price. However, Fantom’s ecosystem remains primitive while its competitors expanded to support new use cases. On the other hand, Optimism has shown robust community and decentralized application (dApp) development thanks to the loyalty of Ethereum developers and the Optimism Foundation’s effective strategy in aligning token incentives with governance. OP/USD (orange) and FTM/USD (blue) price chart. Source: TradingView Fantom’s ecosystem development stalls The Fantom ecosystem received an adverse...

It's decision time for BTC price action in a range which could also see a trip to $28,000, popular trader Skew believes. Bitcoin (BTC) is headed to either $28,000 or $19,000 and this week could decide all, fresh Analysis says. In Twitter comments on Feb. 15, popular trader Skew told followers that BTC/USD is now in a “pivotal area.” "Next big move" due for Bitcoin Despite returning above $22,000 on the back of the Feb. 14 United States Consumer Price Index (CPI) print, Bitcoin has yet to resume the blistering rally which saw it gain 40% in January. After two weeks of consolidation, however, the time to make a decision is here, Skew believes. “I think we're setting up for the next big move,” he summarized alongside a chart showing relevant BTC price targets. Those targets come in the form of $28,000 and $19,000 to the downside. Both somewhat echo others’ perspectives from throughout the 2023 recovery, with the area immediately below $20,000 of particular interest. Cu...