The latest report on nonfarm payrolls revealed that job additions in June were below economists’ expectations. With an increase of 209,000 jobs, the figures indicate a cooling labor market. However, market observers remained concerned about the average hourly earnings growth, which held steady at 0.4% from May and 4.4% from a year ago. Despite these
Analysis
Investor Luke Broyles has made a bold prediction that Bitcoin (BTC) will absorb all prosperity gains in the future, leaving those without exposure behind. In a Twitter thread on July 8, Broyles outlined his vision of Bitcoin becoming “society’s base money.” While initially discussing artificial intelligence (AI) and its relationship with Bitcoin, Broyles expanded on
Bitcoin experienced a slight decrease in price this week, but various indicators suggest that $30,000 will likely serve as a support level in the future. Over the course of 15 days leading up to July 7, Bitcoin remained within a narrow range of 4.3%. Despite this, the unsuccessful attempt to break above $31,400 on July
Bitcoin (BTC) experienced a surge to new highs in 2023 on July 6 as it bounced off key support, defying analysts’ predictions. Data from Cointelegraph Markets Pro and TradingView revealed that BTC price action surged above the upper limit of its recent trading range. Analysts had previously anticipated a further drop in the largest cryptocurrency,
Litecoin’s (LTC) price has experienced a significant increase, outperforming the broader cryptocurrency market. Traders have remained optimistic about the upcoming block reward halving event in August. On July 2, the price of LTC surged by approximately 8.3% to reach $116, its highest level since April 2022. The week-to-date returns for Litecoin have climbed over 30%,
Bitcoin (BTC) struggled to break through the $31,000 mark as it traded below this level at the July 3 Wall Street open. The cryptocurrency remained in a tight range following the weekly close, with bulls eagerly waiting for a catalyst to drive the price higher. Despite modest attempts to breach the resistance levels, Bitcoin’s price
There has long been a belief that when the U.S. dollar weakens against other major global currencies, it has a positive impact on Bitcoin. Conversely, when the dollar strengthens, Bitcoin tends to decline in value. This theory is often supported by looking at the Dollar Strength Index (DXY) and Bitcoin price movements. For example, when
The introduction of a spot-based Bitcoin (BTC) exchange-traded fund (ETF) has the potential to make the asset more accessible to individual investors and mutual funds. Unlike a futures-based Bitcoin ETF, a spot-based ETF involves the actual purchase of BTC. However, the approval of the first Bitcoin ETF may not necessarily be a bullish event. Regulatory
Bitcoin (BTC) had an impressive 12% gain in June, closing the month on a positive note. Despite a last-minute dip due to a macro news event, Bitcoin managed to maintain a solid position. The data from Cointelegraph Markets Pro, TradingView, and CoinGlass confirms that the monthly close for Bitcoin was $30,465 on Bitstamp. This makes
The influence of United States Government bonds, also known as Treasurys, is far-reaching beyond the financial markets. The cost of capital attributed to U.S. dollars affects every loan, mortgage, and even cryptocurrency derivatives. But what happens if the U.S. government defaults on its debt, and there is no interest debt payment? This scenario could trigger