DeFi News Daily Official TheBitTimes.com

5 key U.S. economic indicators are definitely going to impact the Bitcoin market this week as BTC is currently hovering right around the $94,000 mark. These really important data releases will probably trigger some cryptocurrency volatility and might also influence trading decisions as investors try to navigate through these somewhat uncertain market conditions right now. Also Read: Pi Network Price Prediction: Analysts Eye 3x Rally to $1.70 For Mid-May 2025 How U.S. Economic Indicators Could Rock Bitcoin And Crypto Forecasts Source: Watcher Guru Consumer Confidence Report First on Deck The Consumer Confidence report, which is actually releasing today, leads this week’s 5 key U.S. economic indicators that might affect crypto price forecasts in the coming days. The previous March reading of 92.9 showed quite a bit of consumer pessimism, and analysts are now expecting a further decline to about 87.4 for April. Economist Justin Wolfers remarked: “Let me try to help you make sen...

Recent news suggests that Bitcoin could soon see a significant price increase, potentially leading to huge gains for investors. However, it’s not just Bitcoin itself that stands to benefit from this potential rise—tokens like BTCBULL, which are tied to Bitcoin’s price movements, may experience even more significant rallies. As Bitcoin gains value, smaller assets like BTC Bull Token could see exponential returns, making them an attractive investment. Bitcoin’s Price Surge on the Horizon Leading brokerage firm Bernstein has made a bold prediction: the U.S. Federal Reserve might issue debt or sell part of its gold reserves to purchase Bitcoin. This speculation, outlined in a report to their clients, suggests that the U.S. could be gearing up to create a national Strategic Bitcoin Reserve (SBR). If this initiative becomes a reality, Bernstein believes that other nations could follow suit, acquiring Bitcoin as part of their reserve assets. The creation of a nat...

In a new report, the U.S. Treasury officially named Bitcoin ‘digital gold .’ BTC’s price explosion past $100,000 and strong cryptocurrency adoption in 2024 signal some major changes in how institutions view digital assets. Also Read: Iran Embraces Crypto: A Bold Plan to Dodge Sanctions as Crypto Holds 1/3 of National Gold US Treasury Recognizes Bitcoin as Digital Gold: What This Means for Crypto Investors BTC as Digital Gold: Treasury’s Official Stance The U.S. Treasury report makes it clear: “the primary use case for bitcoin seems to be a store of value aka ‘digital gold’ in a decentralized finance (DeFi) world.” Federal Reserve Chairman Jerome Powell agrees: “It’s just like gold, only it’s virtual. It’s not a competitor for the dollar, it’s really a competitor for gold.” This U.S. Treasury Bitcoin recognition shows how government views are changing. Jerome Powell Live at DealBook Summit 2024 https:...

Gold has lately been making headlines by keeping its pace intact amid the stark market meltdown. The yellow metal has documented a few downswings but is slowly recovering its momentum. Per Kitco, the gold prices are mellow, currently sitting at $2,193, down 0.90% at the time of publication.  However, the trend is expected to gain prominence soon as anticipation concerning the fed rates has lately been amplifying, boosting Gold’s prospects. Also Read: HSBC Debuts Gold Tokens To Woo Retail Investors Gold Is Poised to Gain Momentum Soon Source: goldavenue.com The palpable anticipation surrounding the Fed eral Reserve’s decision to cut interest rates in June is bolstering the price of GOLD . Gold is expected to break into a new bullish price threshold, with the influx around the metal increasing at a gradual pace.  According to Cathy, a notable market analyst on X, the current price trajectory of gold is bound for a stellar uptrend. The analyst was ...

Inflation concerns and the U.S. debt standoff cast a long shadow over Bitcoin’s dwindling bullish prospects. A bearish technical formation has driven down the total crypto market capitalization over the past seven weeks. Bitcoin’s (BTC) 2% decline — and a 1.7% and 2.5% decline from BNB (BNB) and XRP (XRP), respectively — were the main drivers of the most recent 1.3% correction between May 18 and May 25. Total crypto market cap in dollars, 12-hour. Source: TradingView The descending wedge formation initiated in April indicates a possible breakout near $1 trillion by late July. For bulls, the bearish structure that drove the total capitalization to $1.11 trillion on May 25 means that an eventual break to the upside would require extra effort. Bitcoin and Ether falter due to weak macroeconomic data Sticky inflation continues to worry investors, who price in higher odds of further interest rate increases by the United States Federal Reserve. The country’s latest personal consumption e...

Bitcoin continues to trade near $28,000, signaling a strong demand from investors even as the legacy banking system struggles with unprecedented volatility. The takeover of the ailing Credit Suisse bank by UBS boosted European equity markets on March 20 but not everyone is happy with the deal. According to Swiss regulator FINMA, the value of additional tier one (AT1) bonds will be written to zero. This move will wipe out $17 billion worth of investments for AT1 bond investors. Among the turmoil in the global banking sector, Bitcoin (BTC) has shone brightly. That is because traders seem to have shifted their focus to the alternative available to the legacy banking system. Another thing working in favor of Bitcoin is that it has decoupled from the United States equities markets and is behaving as an uncorrelated asset class. Daily cryptocurrency market performance. Source: Coin360 Bitcoin’s solid rally in the past few days has boosted trader sentiment. The Crypto Fear and Greed Index h...