Bitcoin price edges higher as Fed inflation meeting sends DXY to 2-month high

Bitcoin (BTC) stayed below $40,000 on June 17 as a surging U.S. dollar added to downward BTC price pressure. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC/USD bounces at $38,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading at around $39,300 on Thursday. The largest cryptocurrency fell during a meeting of the Federal Reserve the day before in which Chair Jerome Powell acknowledged inflation could run higher than planned in the short term. As Cointelegraph reported, May’s Consumer Price Index (CPI) report showed inflation hitting a 13-year high last…

Regulations drive Korean exchanges to delist, warn against high risk coins

South Korea’s cryptocurrency market continues to transform under the weight of mounting regulatory pressures. Major crypto exchanges such as Upbit have this week moved to delist or warn against specific digital assets they have judged to be high-risk for investors.   The trend, as local reporters note, has seemingly been sparked by the increasing level of intervention by financial regulators into crypto service providers’ operations. Last week, Korea’s  Financial Intelligence Unit (FIU) reportedly contacted 33 crypto trading platforms to warn that it would be conducting a field consultation before Sept.…

Korean banks will need to classify crypto exchange clients as ‘high risk’

New rules announced by South Korea’s Financial Services Commission, or FSC, are expected to affect around 60 unauthorized cryptocurrency exchanges in the country, and a new policy for banks will require that they classify any crypto exchange clients as “high risk.” According to the Korea Times, the new guidelines were announced on Sunday and are intended to ensure that crypto exchanges strengthen their monitoring of transactions and uphold strong user ID requirements. Until now, only the four largest exchanges in South Korea have set up real-name accounts that have been…

Bitcoin price hits stock-to-flow rebound level not seen since 2017 all-time high

Bitcoin (BTC) spending over three weeks in the $30,000 range is proving a crucial test for one of its best-known price models. As noted by Philip Swift, co-founder of trading suite Decentrader on June 11, Bitcoin is issuing a major challenge to the stock-to-flow price forecasting tool. Is it bounceback time for BTC price? BTC price action has hovered in a lower corridor between $30,000 and $40,000 since mid-May. This has worried day traders, while vintage bulls have called for calm and a long-term mindset. As Cointelegraph reported, the stock-to-flow…

Bitcoin boon as US inflation hits 13-year high, wages fall to lowest in 21st century

Bitcoin (BTC) gained more free publicity this week as inflation data showed that prices are rising faster than even experts had anticipated. The latest Consumer Price Index (CPI) report on June 10 from the United States Bureau of Labor Statistics (BLS) also revealed that hourly average earnings for United States workers are at their lowest this century. Inflation returns to 2008 levels One of Bitcoin’s best friends is inflation. Its inherently deflationary nature allows its users to save for the future without worrying that inflation is eradicating the value of those savings.…

Bitcoin price volatility hits 2021 high as one analyst paints $15,000 target

The current cryptocurrency market scenario is only for traders who have an extremely high appetite for risks. But for the faint of heart, analysts advise patience and caution ahead. The outlook stands tall for Bitcoin (BTC) and Ether (ETH), the top cryptocurrencies by market capitalization that more or less behave as locomotives for the rest of the crypto market. As of Wednesday, the ETH/USD Realized Volatility on a 30-day timeframe has reached near its 2017 peak levels, according to data provided by Skew. Bitcoin and Ether 30-day realized volatility reaches…

Gold hits four-month high following crypto crash

In the aftermath of the Mid-May crypto market sell-off, gold has seen significant price recovery. Gold prices continued to inch higher on Tuesday, hitting $1,887 per ounce at 3:00 am EDT, according to data from TradingView. Last week, gold reached its highest price level since Jan. 8 at $1,889, marking a four-month high after gold prices dipped to $1,681 in early March. At the time of writing, spot gold is trading at $1,882, up around 0.1% over the past 24 hours. Spot gold year-to-date chart. Source: TradingView The accelerated growth…

Solana pumps to all-time high as Bitcoin, altcoins lag

Solana’s native SOL token is charting new highs on Sunday, gaining in U.S. dollars and in Bitcoin (BTC) on the back of growing network adoption and a key technical breakthrough.  The SOL token peaked at $52.42 on Sunday, according to TradingView, having gained 24% over the 24-hour trading cycle. That marked a new all-time high for SOL and the first definitive break above the psychological $50 level. As Cointelegraph previously reported, Solana rallied to a high of $49.99 on May 2 before losing some of its momentum. The $50 target…

Ethereum price aims for $5K after reaching 3-year high versus Bitcoin

Ether (ETH) set a second all-time high on May 12 as the largest altcoin continued on its way to what analysts say will be $5,000. ETH/USD 1-hour candle chart (Bitstamp). Source: Tradingview Funding rates could hold key to ETH resilience Data from Cointelegraph Markets Pro and TradingView tracked ETH/USD as the pair put in two all-time highs in a single day on Wednesday. Part of the now notorious “alt season 2.0,” Ether hit $4,350 earlier on the day, only to better its performance hours later and reach $4,380. Now under 15% away…

Bitcoin price bounces despite stocks rout as Ethereum hits new $4,350 high

Bitcoin (BTC) gained 4.3% on May 12 as cryptocurrencies recovered losses despite increasing turmoil on global stock markets. BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview BTC price reverses upwards Data from Cointelegraph Markets Pro and Tradingview showed BTC/USD erasing almost all the previous day’s losses on Wednesday to trade above $57,500 at the time of writing. The move came amid concerns over froth in tech stocks, fueled by problems in Taiwan which saw the country’s equities index post its biggest one-day loss in history.  Bitcoin and altcoins had sold off with…