Press Releases TheBitTimes.com

Bitcoin begins an "important" week for BTC price performance with $30,000 still intact at the weekly close. Bitcoin (BTC) starts a new week in a solid position above $30,000 after its latest rapid gains. BTC price action continues to deliver on bulls’ expectations after weeks of sideways trading offered little relief. Can it continue? That is the question on every trader’s mind this week — $30,000 held into the weekly close and beyond, but in a volatile crypto market, anything can and does happen. The macroeconomic climate is somewhat “standard” for the final week of June, offering some potential risk asset price catalysts but avoiding several major data releases at once. The weekend’s news out of Russia appears to have had little impact on market performance elsewhere, having mostly concluded before the start of the week’s trading. Turning to Bitcoin itself, a phase of taking stock appears to be here, with fundamentals conversely primed to shift down from all-time highs. S...

Bitcoin price continues to explore the lower regions of its trading range, but a drop to $25,000 seems nearly inevitable according to derivatives data. Bitcoin (BTC) has been trading in a narrow 3.4% range for the past three days after successfully defending the $25,500 support on June 10. In this time, investors’ attention has shifted to the macroeconomic area as the U.S. Federal Reserve will announce its interest rate decision on June 14. Cryptocurrencies might work independently from the traditional finance markets, but the cost of capital impacts almost every investor. Back in May, the Fed raised its benchmark interest rate to 5%–5.25%, the highest since 2007. All eyes will be on Fed’s Chair Jerome Powell media speech 30 minutes after the rate announcement as markets are pricing in 94% odds of a pause at the June meeting, based on the CME FedWatch tool. Crypto fears more than just a FOMC meeting The upcoming FOMC meeting isn’t the only concern for the economy, as the U.S. Treasu...

Commodities rallied as the U.S. Treasury struggled with the banking crisis, but Bitcoin bulls also overplayed their hand in this week’s options expiry. Bitcoin's (BTC) 43% rally between March 10 and March 20 surprised options traders and this is proven by the minimal14% of the $1.12 billion open interest set to expire on April 7 being placed at $28,000 and higher.  The positive price movement can be partially attributed to an increase in commodity demand, as investors perceive risks in the central bank's emergency funding programs, as injecting liquidity causes inflationary upward pressure. According to Urban Angehrn, CEO of the Swiss Financial Market Supervisory Authority (FINMA), if Credit Suisse had not been rescued, "many other Swiss banks would probably have faced a run on deposits." Angehrn added that, "there was a high probability that the resolution of a global systemically important bank would have led to contagion effects and jeopardized financial stab...

Speaking today, Fed Chair Jerome Powell says the US will have real-time payments “very soon.” Moreover, Powell spoke on the potential integration of a CBDC that won’t arrive for “years,” whereas the implementation of real-time payments for all banks is realistically close. At the Federal Reserve’s Semi-Annual Monetary Policy Report meeting, Powell discussed topics from a potential US debt default to stablecoins. Subsequently, he answered questions on the instant payments between bank accounts. Assuring us it is just on the horizon. JUST IN: 🇺🇸 FED Chair Jerome Powell says "we'll have real-time payments in this country very very soon." pic.twitter.com/f6oUx6O9rm — Watcher.Guru (@WatcherGuru) March 8, 2023 Powell Discusses Real-Time Payments Speaking today at the Federal Reserve Semi-Annual Monetary Policy Report meeting, Fed Chair Jerome Powell stated that the US will have real-time payments very soon. Specifica...

Investors are unwilling to add long positions as the Shanghai Fork is expected to unlock a significant amount of ETH over a short period. The price of Ether (ETH) declined 6% between March 2-3, followed by a tight range trading near $1,560. Still, analyzing a wider time frame provides no clear trend, as its chart can point to a descending channel or a slightly longer seven-week bullish pattern. Ether (ETH) price index in USD, 1-day. Source: TradingView Ether's recent lack of volatility can be partially explained by the upcoming Shanghai hard fork, an implementation aimed at allowing ETH staking withdrawals. Those participants were each required to lock 32 ETH staked on the Beacon Chain to support the network consensus protocol. After a series of delays, typical for changes in the production environment, the Shanghai Capella upgrade — also known as Shapella — is expected for early April, according to Ethereum core developer and project coordinator Tim Beiko. The Goerli testnet upgr...