Aurelia Butler

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    in Cryptocurrency

    Legendary Trader Peter Brandt Highlights Major Bitcoin Problem

    Renowned for his precise forecasting and profound understanding of the market, Brandt noted that the current correction in Bitcoin should worry investors. The 200 exponential moving average, which has historically served as a reliable support line, has been broken by the cryptocurrency, which has lost a substantial amount of ground. This breach raises the possibility that a more significant correction is in progress.Recently, the price of Bitcoin crashed below $58,000, causing massive market liquidations. Bitcoin is in a downtrend and has not been able to maintain its upward momentum. It is unclear how long this uptrend will last given the sharp contrast between the current market behavior and the bull run we saw earlier in this cycle.The cryptocurrency market has been affected by this global uncertainty, which has raised volatility and put pressure on sellers. The second major factor affecting Bitcoin and other cryptocurrencies is still the massive outflow of funds triggered by the selling pressure from Mt. Gox and the German government. Billions worth of BTC entered the market with a thin liquidity, causing a price drop we are witnessing right now.These legal obstacles are probably going to stay in place, which will put more pressure on the price of Bitcoin. The third factor contributing to the downturn is the dearth of new institutional inflows.Significant institutional investment fueled the previous bull run, pushing Bitcoin to all-time highs. But these investments have slowed down in the current cycle, which has made the correction worse. A key test for Bitcoin is the current correction. We might see additional declines and possibly test the lower bounds of the uptrend that began in 2022 if the price is unable to hold above important support levels.This article was originally published on U.Today More

  • 63 Shares129 Views

    in Economy

    Is US inflation still falling?

    Standard DigitalWeekend Print + Standard Digitalwasnow $85 per monthBilled Quarterly at $199. Complete digital access plus the FT newspaper delivered Monday-Saturday.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts10 monthly gift articles to shareGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionEverything in PrintWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisPlusEverything in Premium DigitalEverything in Standard DigitalGlobal news & analysisExpert opinionSpecial featuresFirstFT newsletterVideos & PodcastsFT App on Android & iOSFT Edit app10 gift articles per monthExclusive FT analysisPremium newslettersFT Digital Edition10 additional gift articles per monthMake and share highlightsFT WorkspaceMarkets data widgetSubscription ManagerWorkflow integrationsOccasional readers go freeVolume discountFT Weekend Print deliveryPlusEverything in Standard DigitalFT Weekend Print deliveryPlusEverything in Premium Digital More

  • 150 Shares199 Views

    in Economy

    Pakistan finance minister warns taxes must rise to break the bailout cycle

    Standard DigitalWeekend Print + Standard Digitalwasnow $85 per monthBilled Quarterly at $199. Complete digital access plus the FT newspaper delivered Monday-Saturday.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts10 monthly gift articles to shareGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionEverything in PrintWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisPlusEverything in Premium DigitalEverything in Standard DigitalGlobal news & analysisExpert opinionSpecial featuresFirstFT newsletterVideos & PodcastsFT App on Android & iOSFT Edit app10 gift articles per monthExclusive FT analysisPremium newslettersFT Digital Edition10 additional gift articles per monthMake and share highlightsFT WorkspaceMarkets data widgetSubscription ManagerWorkflow integrationsOccasional readers go freeVolume discountFT Weekend Print deliveryPlusEverything in Standard DigitalFT Weekend Print deliveryPlusEverything in Premium Digital More

  • 150 Shares139 Views

    in Cryptocurrency

    Bitcoin: 10,000 BTC Wallets Pack 212,450 BTC to Scale 6 Year High

    Over the past six weeks, these large BTC wallets have been the extreme beneficiaries of the market’s volatility. As the price of Bitcoin experienced fluctuations, these wallets added a staggering 212,450 BTC to their holdings. This accumulation represents an increase of 1.05% of the total Bitcoin supply.Santiment’s analysis suggests that these large BTC addresses are likely comprised heavily of exchange liquidity providers. These entities play a crucial role in maintaining the liquidity of Bitcoin across various trading platforms.Bitcoin surged to an all-time high of more than $73,700 in March of this year, when the Securities and Exchange Commission approved the first U.S. spot Bitcoin exchange-traded fund, or ETF.Since then, Bitcoin prices have been consolidating within a well-defined $60,000 to $70,000 range with investor apathy and boredom setting in. This has resulted in widespread indecision and a market unable to create a strong trend in either direction.According to Glassnode, the True Market Mean resides at a Bitcoin value of $50,000, which represents the average cost basis per active investor. This level remains a key pricing level for the market to remain above if the macro bull market is expected to continue.This article was originally published on U.Today More

  • 88 Shares139 Views

    in Economy

    Explainer-France’s political alliances and their election pledges

    PARIS (Reuters) – France’s political parties have scrambled to form political alliances after President Emmanuel Macron’s surprise move to call a parliamentary election, reshaping the political landscape into three large blocs. From the far-right National Rally to the leftwing New Popular Front and Macron’s centrist alliance called ‘Together’, here is an overview of the campaign pledges made ahead of Sunday’s second voting round:FAR-RIGHT NATIONAL RALLY Marine Le Pen’s eurosceptic National Rally party is seen wining the largest number of seats in the National Assembly, the lower house of parliament, but may fall short of an absolute majority. It has struck a deal with Eric Ciotti, who led the conservative Republicans until most of its politicians cut ties with him following his pact with the far right.The National Rally has pledged to:*Shore up household spending with tax cuts on gas, petrol and oil *Reverse Macron’s lifting of the retirement age to 64 from 62, although it has watered down a previous promise to reduce the legal retirement age further to 60 due to budget constraints.    *Leave the joint EU electricity market to offer lower power prices nationally *Improve public health access in rural areas*Toughen criminal sanctions for drug crimes and violence against police officers*Cut welfare benefits for families of adolescent serial offenders *Reduce immigration, loosen rules to expel undocumented migrants, restrict family reunions *Make staying in France without a residence permit a criminal offence LEFT-WING NEW POPULAR FRONT Political parties representing the left-wing, from the moderate Socialists and Greens to the more hardline Communists and Jean-Luc Melenchon’s ‘France Unbowed’ have agreed to form a “New Popular Front”. The left-wing bloc has pledged to:*Cap prices of essential goods like fuel and food*Raise the minimum wage to 1,600 euros a month net*Hike wages for public sector workers *Impose a wealth tax, overhaul inheritance tax*Halt new motorway construction projects*Adopt rules to fight wasting drinking water *Scrap Macron’s pension reform, and work towards a ‘right to retire’ at 60 *End ‘austerity’ under EU budget rules *Reform Europe’s common farming policies MACRON’S CENTRIST ‘TOGETHER’ ALLIANCEIn the political centre, Macron has urged moderate parties to join his electoral alliance against political extremes on the right and left, with little meaningful success so far. The president, who has warned of the risk of a ‘civil war’, seeks to cast his camp as the last hope for stability.    Macron’s centrist bloc has pledged to: *Hit the pause button on reform of France’s unemployment insurance aimed at toughening rules for welfare benefits *Continue to deliver job creation through pro-business policies *Rule out tax hikes for households *Link pensions to inflation and protect purchasing power*Ease employer charges to facilitate wage hikes for low income workers *Create cheap additional health insurance for those in need *Be mindful of the country’s budget deficit and resist runaway spending*Deal more firmly with juvenile criminality More

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    in Cryptocurrency

    Key Reason Why BTC, DOGE, XRP, ADA Seeing Price Increases

    This surge aligns with the latest U.S. jobs report, which indicated an unexpected rise in the unemployment rate, with non-farm payrolls increasing by 206,000 for the month. This figure surpassed the Dow Jones forecast of 200,000 but fell short of the downwardly revised gain of 218,000 in May.While policymakers want to see more progress on inflation before decreasing interest rates, a deteriorating labor market may enhance the need to act quickly.Following Friday’s jobs report, traders increased their bets on a September interest rate decrease, with odds of a quarter-point cut rising to approximately 75%, up from 64% a week ago, according to the CME Group’s FedWatch tool.Fed Chairman Jerome Powell recently stated that progress had been made in lowering inflation. Still, the central bank wanted to be more sure it was returning to its 2% target before relaxing monetary policy. New inflation data is due next week.At the time of writing, Bitcoin was up 1.96% in the last 24 hours to $56,697, according to data from crypto ranking site CoinMarketCap. BTC surged to an all-time high of about $74,000 in March this year, following the approval of the first U.S. spot Bitcoin ETF, however, it has since been trading within a tight range.Dogecoin rallied substantially from its lows of $0.0915 on Friday and continues to do so in Saturday’s trading session. At the time of writing, Dogecoin had risen 9.60% in the last 24 hours to $0.1094.XRP was up 5% in the last 24 hours to $0.435, while Cardano’s ADA coin was up 2.29% to $0.356.This article was originally published on U.Today More

  • 100 Shares99 Views

    in Cryptocurrency

    Peter Schiff Acknowledges Bitcoin ETF Buyers HODLing Strength

    As per CoinMarketCap data, Bitcoin is currently up by 3.73% to $56,536.78 in the last 24 hours. This significant rise comes after the digital asset plummeted to as low as $53,900. Analysts had attributed this to the German Government’s transfer of 1,300 BTC to Bitstamp, Kraken and Coinbase (NASDAQ:COIN). The BTC transferred recently was worth approximately $75.53 million.According to Schiff’s latest analysis, it will take a larger drop in the price of Bitcoin for whales to surrender and begin dumping the asset. If the Bitcoin ETF holders hit the sell button, this will further drive down the price of BTC.Schiff is projecting that such a scenario is likely next week. Notably, the Bitcoin critic is basing his projections on a huge sell-off this weekend.These analysts maintain that Schiff tilts toward bearish extremes because he is not a fan of the digital asset.Meanwhile, Schiff has issued a critical warning to investors of Bitcoin ETF, noting that given its poor showing in the second quarter of this year compared to gold, the digital asset is likely to suffer more losses.This article was originally published on U.Today More