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“Wholecoiners” on the Rise, Showing Love to Bitcoin

May. 19, 2023

Weekly Crypto Roundup. BTC, ETH, XRP, LTC Price Updates As of this month, the number of Bitcoin addresses that hold at least 1 BTC has surpassed 1 million. This milestone which garnered a lot of interest on social media was reached on May 18, according to crypto analytics firm Glassnode. The “wholecoiners” have been on […]

US Dollar Index Hits 5-Week High as Inflation Worries Resurface

May. 15, 2023

EUR/USD Headed for Support After Failed Breakout The US Dollar Index (DXY) broke a 5-week high on Monday, boosted by renewed inflation worries following last week’s CPI release which showed that inflation is toning down. The University of Michigan Consumer Sentiment survey released Friday revealed that consumers’ long-term inflation projections accelerated to a 12-year high. […]

Bitcoin: The Battle for $30K Is Lost… For Now

May. 12, 2023

Bears Break April’s Low. Where to Next? The latest U.S. inflation data released Wednesday provided further evidence that the Fed might not continue hiking interest rates to curb inflation. The Core CPI (year over year) came in at 5.5%, lower than the previous 5.6%, while the headline CPI (year over year) was 4.9%. Both the […]

US Dollar Struggles Despite Strong Job Growth

May. 08, 2023

CPI Release Expected to Impact Currency Markets. The US Dollar is threading water and showing signs of weakness despite better-than-anticipated numbers for the Non-Farm Payrolls report. Last Friday, data showed that 253K new jobs were created, surpassing the forecast of 181K and the previous 165K. The Unemployment Rate dropped to 3.4% from the previous 3.5% […]

Is The Fed Done Hiking? How Will This Impact Bitcoin?

May. 05, 2023

$30,000 Is Still the Talk of the Town. Break Out or Break Down? The Federal Reserve and the European Central Bank both did what the markets widely expected: to raise their respective interest rates by 0.25 bps. However, going forward there seems to be a growing divergence between the monetary policies of the two central […]

The Perfect Storm: Fed Interest Rate Followed by NFP

May. 01, 2023

EUR/USD in Limbo as Traders Await Key Data We are headed towards what could be the Fed’s last rate hike of the year but if that isn’t enough, the Non-Farm Payrolls report will spice things up even more. And it doesn’t stop here: the European Central Bank will announce the main refinancing rate and the […]

Bitcoin’s Wild Ride: Fake News and Banking Woes Drive Volatility

Apr. 28, 2023

A Fresh Assault On $30K. Can the Bulls Break it This Time? The Bitcoin rollercoaster was firing on all cylinders this week, peaking at $30,000 on Wednesday before losing almost $3,000 in a matter of hours. As of this writing, BTC/USD is trading at 29,500, and it looks like the bulls are ready to make […]

USD Drifts in Narrow Range As Traders Await Heavyweight Data

Apr. 24, 2023

EUR/USD In Balance… but That’s All About to Change Last week the EUR/USD market has been harsh for traders, as it has been kept in a narrow range of below 100 pips since Monday. This lack of volatility can be attributed to the absence of fundamental drivers and limited data. Despite hawkish Fed speak, the […]

Bitcoin and RFK Jr. It’s Good to Have Friends in High Places

Apr. 21, 2023

$30,000 Proves to Be Too Much for the Bulls. Where to from Here? Bitcoin’s new best friend might be the United States’ next President. Robert F. Kennedy Jr., son of Robert Kennedy and nephew of late President John F. Kennedy officially announced he will be running for President in 2024. He is planning to run […]

The Battle for 1.1000 Has Begun. More Rate Hikes Lie Ahead

Apr. 17, 2023

EUR/USD’s Price Action Turns into a Balancing Act on 1.1000 The euro-dollar pair seems to have settled at 1.1000 for the time being, after reaching a 12-month high of 1.1075, on April 14th. Both the European Central Bank (ECB) and the US Federal Reserve are likely to continue their rate hikes, which will continue to […]