Crypto News: Bitcoin, ETH Price, CPI Print, PYTH, WIF & MORE!!
Welcome to the Coin Bureau Weekly News Roundup! My name is Jessica and my name is Guy. Here are the top stories in crypto this week:
Bitcoin Hits New All-Time High Before Correctionโ๏ธ
Last week, Bitcoin soared to almost $74k before experiencing a significant crash, signaling an overdue correction. The big question now is: how low could Bitcoin go? Letโs delve into the details:
โ Bitcoin rally met with correction due to liquidations of leverage traders
โ Previous corrections usually followed new all-time highs
โ BTCโs daily chart shows signs of bouncing from key support level
โ Weekly chart suggests BTC could fall to $45.5k before recovery
Ethereum Falls Post-Denune Upgrade๐
While Bitcoin was making headlines, Ethereum took a tumble after the Denune upgrade. This sell-the-news event caused Ethereum to drop below key support levels. Letโs take a closer look at the ETH price action:
โ Ethereum fell below Bollinger Band moving average on daily chart
โ Possible support level at $2.5k on weekly chart
โ ETH-BTC chart indicates critical level relative to BTC
โ Solana (SOL) looking bullish in BTC terms, possible breakout
Salanaโs Dog With Hat Raises $700k๐ธ
A meme coin on Solana, โDog With Hat,โ raised $700k to be displayed on the Vegas Sphere, potentially hitting new all-time highs. The coin, accompanied by the mCoin hype, is garnering investor interest and could see significant gains. Letโs keep an eye on this space:
โ Dog With Hat campaign attracts significant investment
โ Potential new all-time high if displayed on Vegas Sphere
โ Speculation on โDog With Hatโ hitting $10 with US exchange listing
โ Salana Dex tokens rallying, fueled by mCoin hype
Implications of Federal Reserve Decision๐ฆ
This week, the Federal Reserve will announce its latest interest rate decision, affecting the broader market sentiment. The higher than expected CPI and PPI prints have raised concerns about inflation levels. Hereโs what we can expect:
โ Fedโs interest rate decision to impact market direction
โ Inflation concerns due to unexpected CPI and PPI prints
โ Fiscal spending and bond holder payments to support markets
โ Likely short-term correction despite ongoing fiscal stimulus
Last Weekโs Top Performing Cryptos๐
Letโs take a look at the top performing cryptocurrencies from last week. These coins experienced significant price surges due to various catalysts and developments in their ecosystems:
โ Jupiter, Ox, PYTH, Conflux, and TON coins among top gainers
โ Positive price action driven by meme coin trading, governance proposals, and new protocols
โ Overbought conditions suggest potential short-term corrections
โ Telegramโs plan to go public boosting TON coinโs performance
Hot Take: Key Crypto Insights and Market Predictions๐ฅ
As the crypto market continues to unfold, stay informed about the latest developments and trends to make informed investment decisions and navigate market fluctuations. Keep an eye on upcoming events, such as Fed announcements, regulatory updates, and project developments to gauge market sentiment and potential price movements.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.