Bitcoin Whales Start Filling Their Wallets as Bitcoin Plunges Below $20K “Thank you for selling cheap” – these were the words of El Salvador’s President Bukele as he announced another round of Bitcoin purchases. According to the President’s Twitter account, on June 30, El Salvador bought 80 BTC at $19,000 each. This puts the country’s […]
EUR/USD Shows Erratic Behavior Ahead of Key Inflation Data. After the double bottom pattern that appeared at 1.0350 support, the Euro strengthened and made its way closer to the resistance at 1.0635. The single currency was also boosted by the European Central Bank’s indication regarding a 25 bps rate hike in July, followed by a […]
Deep Oversold Levels and Technical Indicators Point Towards a Bottom. After going as low as $17,592, Bitcoin recaptured the key psychological level at $20,000 and is showing signs of bullish pressure. At the time of writing, the flagship coin is trading at $20,780, with a weekly high at $21,700 and according to technical indicators and […]
Dollar Boosted by Hawkish Fed, Euro Counters With Bounce at Support. The greenback appreciated against most of its counterparts last Thursday after the FOMC decided to raise the rate by 75 bps. The markets largely expected a hike of only 50 basis points but some voices speculated that a bigger one was in the cards, […]
BTC/USD Approaches Historical Level. Bulls and Bears Go Head to Head. During the last 7 days, Bitcoin has shed over 30% of its value and is trading at levels last seen in December 2020. This is also the third visit to the $20,000 level in Bitcoin’s entire “life span”. Remember the 2017 craze? That year […]
Euro Fails to Find Support Despite Hawkish Signals From the ECB Last week the Euro had its worst week since April and tumbled below 1.0500 against the USD despite the ECB announcing the end of the asset purchase programme. The European Central Bank also signaled that it is getting ready to hike the interest rate […]
The Crypto Market Is in Shambles, Yet One Coin Is Getting Ready to Burst Since the $3.16 All-Time High reached in September 2021, Cardano (ADA) has been sliding lower, depicting a textbook downtrend. Despite the sustained drop, people are already talking about a new All-Time High. Bear in mind that currently, ADA is trading at […]
Inflation, Jobs, and Rates – The Three Determining Factors for EUR/USD’s Next Move. Eurozone inflation surprised many market participants last week as the CPI accelerated to 8.1%, making the case for a rate hike in July. The European Central Bank is set to convene on Thursday and ECB President Christine Lagarde is expected to announce […]
Bitcoin: The Beast Awakens… or Does It? After spending more than two weeks inside a descending bearish triangle, Bitcoin managed to escape the pattern by breaking its upper barrier. This also marked the break of the key level at $30,000, which was a very bullish sign; however, the break was short-lived and the majority of […]
Non-Farm Payrolls in the Spotlight as the US Dollar Slows Its Ascent The ECB and the Fed seem to have switched positions in their approach toward interest rates. There is speculation about a pause in Fed rate hikes in September and on the other hand, the European Central Bank is likely to start increasing in […]