Bitcoin risks worst October in six years following high US inflation data and S&P 500 correlation
Bitcoin (BTC) and the crypto market trended downward on Thursday as the US Consumer Price Index (CPI) data for September showed that inflation is rising again, reducing the already slim chances of the Federal Reserve cutting its interest rate by another 50 basis points in November.
Uniswap unveils Layer-2 solution Unichain as part of Optimism Superchain
Uniswap (UNI) saw double-digit gains on Thursday after unveiling the launch of its DeFi Layer-2 solution, Unichain. Unichain is built to provide seamless cross-chain transactions while scaling the Ethereum blockchain.
Ethereum Price Forecast: ETH could decline to $2,200 amid rising US inflation and exchange reserves
Ethereum (ETH) plunged 3.8% on Thursday following a hike in US inflation data and rejection near its 50-day Simple Moving Average (SMA).
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As Bitcoin (BTC) gets closer to the $100,000 mark for the first time — it crossed $99,000 earlier Friday — capital is rotating into alternative cryptocurrencies, creating a buzz in the broader crypto market.
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange
Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.
Bitcoin: Rally expected to continue as BTC nears $100K
Bitcoin (BTC) reached a new all-time high of $99,419, just inches away from the $100K milestone and has rallied over 9% so far this week. This bullish momentum was supported by the rising Bitcoin spot Exchange Traded Funds (ETF), which accounted for over $2.8 billion inflow until Thursday. BlackRock and Grayscale’s recent launch of the Bitcoin ETF options also fueled the rally this week.
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