Bitcoin traders have been betting for years the largest cryptocurrency by market cap could serve as an effective hedge against inflation. That's why they'll be watching Wednesday as the U.S. Labor Department publishes its Consumer Price Index (CPI) report for December.The widely followed CPI, scheduled for release at 8:30 a.m. ET (13:30 UTC), is expected to show an acceleration … [Read more...] about Traders Will Be Watching if December CPI Confirms Inflation at 4-Decade High
Watching
3 key areas traders are watching as Bitcoin’s monthly close occurs
Bitcoin's (BTC) whipsaw volatility has been on full display throughout June, leaving traders confused and in search of the latest technical indicator or major news announcement that might provide some hint at which way the price will move. As the month of June comes toward an end, traders are now focused BTC's on the monthly close to determine if the forward outlook is tilted … [Read more...] about 3 key areas traders are watching as Bitcoin’s monthly close occurs
Forget Elon, here’s why Bitcoin traders should be watching the US Dollar Index instead
Bitcoin (BTC) prices fell by almost 5% on June 4, continuing the decline into the Friday session as investors grappled with Elon Musk's cryptic tweets on the cryptocurrency, raising speculation that the Tesla CEO might dump the firm's remaining 43,2000 BTC stash. #Bitcoin pic.twitter.com/lNnEfMdtJf— Elon Musk (@elonmusk) June 4, 2021 Nonetheless, Bitcoin's move downside also … [Read more...] about Forget Elon, here’s why Bitcoin traders should be watching the US Dollar Index instead
Pro traders avoid Bitcoin longs while cautiously watching DXY strengthen
Bitcoin (BTC) price might have re-established $50,000 as a support, but the optimism of professional traders is nowhere near the levels seen before the 26% drop to $43,000 on Feb. 28. The current scenario is far from bearish, but derivatives indicators do not reflect the substantial purchases from institutional clients, including Microstrategy, Meitu, and most recently, Aker … [Read more...] about Pro traders avoid Bitcoin longs while cautiously watching DXY strengthen