Bitcoin held firm above $30,000 on Tuesday as investors awaited Wednesday’s U.S. Consumer Price Index for March and Ethereum’s Shapella upgrade. Ether recently traded around $1,895. _jocelynyang_ reports
, down from February’s 6%. The month-over-month rate is also expected to cool.
“Traders [are] speculating that this week’s CPI number could come in at a level that gives the Fed reason to think about pausing raising rates in the next meeting, thereby giving a boost to assets like bitcoin,” James Lavish, managing partner at Bitcoin Opportunity Fund, told CoinDesk in an email. Lavish added that if BTC continues to rise “with conviction,” a move right into the mid to high $30,000 would be likely, forcing short speculators to cover and buy instead. Some investors are trying to get positioned ahead of that.”
Analysts at K33 Research highlighted in a note to clients on Tuesday that open interest in BTC perpetuals surged by 10% to 297,000 BTC on Monday to reach its highest daily growth in open interest since early October. That spurt was followed by volatility and an intraday decline. “While BTC’s performance following surges in OI has varied, it has tended to foreshadow long or short squeezes,” analysts wrote, adding that similar daily growth in OI occurred during a spring rally in 2022 and before the short squeeze of July 2021.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Bybit Adds Staked Ether (stETH) to Unified Trading Account as Shapella Upgrade ApproachesWith new functions, traders can make most of their Ether (ETH) funds with no need to withdraw them from staking modules
Baca lebih lajut »
JPMorgan, Fidelity differ on what Shapella means for ether priceEthereum is set for another major upgrade, but two of America's financial heavyweights disagree on what it means for ether.
Baca lebih lajut »
First Mover Asia: Is a ‘Sharp Move’ Around the Corner for Bitcoin and Ether?ALSO: In his latest Money Reimagined column, CoinDesk Chief Content Officer Michael Casey ties the recent political and regulatory backlash toward the crypto industry to the alleged misdeeds of disgraced FTX CEO Sam Bankman-Fried. Will the current climate drive digital asset innovation and leadership away from the U.S.?
Baca lebih lajut »
Bitcoin flirts with $30,000 while ether nears $2,000Cryptocurrency prices are trading higher for no clear reason as traditional markets lag.
Baca lebih lajut »
Bitcoin, Not Ether, Builds Crypto Market Dominance Ahead of Ethereum's Shanghai UpgradeRegulatory concerns and worries of an immediate ether supply boost after the Shanghai upgrade are keeping investors from aggressively bidding up $ETH. reports godbole17
Baca lebih lajut »
Ethereum’s Shanghai Update Opens a Rift in CryptoThe Ethereum blockchain will finally sever its links to crypto mining—reigniting a debate over whether the practice of mining that still supports bitcoin, the most widely traded cryptocurrency, is viable and sustainable.
Baca lebih lajut »