Altcoin News Daily Official TheBitTimes.com

The Bitcoin price rose 1.8% in the last 24 hours to trade at $97,527 as of 02:42 a.m. EST on trading volume that plunged 35% to $48.3 billion. This slight uptick in the BTC price comes as attention turns to the upcoming US inflation data, likely influencing the inflation trajectory and Fed rate cuts. Yesterday, the PPI data rose 3.3%, below economists’ expectations of a 3.5% increase. Meanwhile, CPI is expected to show inflation ticking higher to 2.9%, further from the Fed’s 2% target. Hot inflation would dampen Fed rate-cut expectations, which could result in the Bitcoin price coming under pressure again. Bitcoin Price Showing Signs Of A Bullish Rally The BTC price Analysis on the daily chart shows an uptrend with clear consolidation near the $97,000 level.  Price action has recently retreated from the $100,000 psychological resistance, forming a rectangular consolidation pattern, according to GeckoTerminal data . This indicates indecision in the market, with bu...

This encouraged investors to stay put in their positions, with confidence in the market building toward a possible breakout to $35,000 and $40,000, respectively. Bitcoin Price Outlook In the last 24 hours, Bitcoin price has seen its value grow by 1.6% to trade at $30,700 as traders usher in the European session on Friday. The uptick in price is not unique to Bitcoin , as Ethereum price is trading 2.1% higher on the day and, as reported in our previous Analysis , is on the brink of closing the gap to $1,900. The continuation of Bitcoin and other crypto assets’ bullish trends into the weekend is largely contingent on the market’s response to the expiration of June options, a dynamic that will inevitably shape the near-term course of these digital currencies. Can Bitcoin Price Take On $35k Bitcoin ’s market structure had improved significantly compared to the beginning of June when the crypto industry faced an intensified crackdown by the US securities regulator. That ...