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Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer ...

Bitcoin and select altcoins are at risk of falling below their respective support levels and starting a deeper correction. Bitcoin (BTC) managed to stay above $27,000 for the past three days but its 9% loss last week spooked some newbie traders. Glassnode data shows that short-term holders, who acquired Bitcoin less than 155 days ago, have been moving coins to the exchanges at a loss since April 16.  While short-term traders are panicking and focusing on the $25,000 level on the downside, some analysts are turning bullish for the next year. Bloomberg Intelligence analyst Jamie Douglas Coutts expects Bitcoin to reach $50,000 by April 2024. Daily cryptocurrency market performance. Source: Coin360 Another bullish voice was that of Standard Chartered analyst Geoff Kendrick who said that the “crypto winter” may be over. He projected that Bitcoin could skyrocket to $100,000 by end-2024. What are the important support levels where the latest leg of the correction may attract buyers? Let’s st...

Bitcoin fails to react to a positive PPI print, while Ether gets busy defending the $2,000 mark which it reclaimed for the first time in eight months. Bitcoin (BTC) preserved $30,000 support at the April 12 Wall Street open as more United States macroeconomic data boosted bulls . BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView PPI hints further inflation drops to come Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering near $30,250 on Bitstamp. Amid a slowdown in volatility, U.S. Producer Price Inflation (PPI) data provided a timely hint that Inflation was slowing faster than expected. Headline PPI came in at 2.7% year-on-year versus market expectations of 3% — an encouraging result for risk assets. US March PPI fell 0.5% MoM, below estimate of 0%, in another sign that US #inflation may have peaked. pic.twitter.com/mfI7ab03ev — Holger Zschaepitz (@Schuldensuehner) April 13, 2023 Financial commentary resource The Kobeissi Letter was among thos...

A recent Binance report details the status of Ethereum staking and explores why the Shanghai upgrade may not result in the ETH sell pressure some traders have predicted. The upcoming Ethereum (ETH) Shanghai hardfork is slated to occur in March 2023 and the upgrade will cap off the network's move to proof-of-stake (PoS) which started during the “Merge” on Sept. 15, 2022. Once Shanghai is implemented, previously locked Ether will gradually become liquid for the first time since December 2020.  According to on-chain Etherscan data, over 16.6 million Ether are currently locked in the PoS staking protocol which was valued at $28 billion on Feb. 16, 2023. Ethereum’s move from proof-of-work (PoW) to PoS has started to achieve the original goal which was to make Ether’s supply deflationary. In the 154-days since the merge, over 24,800 Ether have been burned to make the token 0.05% deflationary on a yearly basis. Key Ether stats since the Merge. Source: ultra sound money On. Feb. 16, th...