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Bitcoin Price To Rally As US CPI Inflation Cools To 2.9%
Bitcoin price saw upside momentum as U.S. consumer price index (US CPI) inflation cools further to 2.9%, as per the U.S. Bureau of Labor Statistics. After the PPI inflation reduced more than expected, the slowing CPI print will allow the U.S. Federal Reserve to start easing its monetary policy.
US stock futures were flat for Dow Jones, S&P 500 and Nasdaq Composite on Wednesday as investors look for cues on moderate price increases. Crypto traders turned bullish even before the CPI release due to buy-the-dip calls ahead of high anticipation for the Fed rate cuts starting in September.
US CPI Comes In Cooler
The annual CPI inflation rate in the US eases to 2.9%, down from 3% in June, according to the data by U.S. Bureau of Labor Statistics. Compared to the previous month, the inflation increased to 0.2%, rebounding from a 0.1% drop in June.
Meanwhile, core US CPI inflation came in at 3.2%, easing for the fourth consecutive month and 3.3% last month. It is the lowest reading since March 2021. The monthly core inflation rate also rose to 0.2% from 0.1%. However, it’s lower than 0.3% in the previous month.
The cooling inflation in all terms indicates room for the Fed to announce a rate cut. The central bank would still wait for upcoming jobs data and PCE inflation data before confirming its stance on rate cuts. The market bets for a larger interest rate cut from the Federal Reserve in September.
CME FedWatch tool data indicates a 50% probability of a 50 bps rate cut in September. The data also show odds of 100 bps rate cuts by the Fed this year after the recent US CPI release.
“This is a report that … is very much in line with expectations,” Citi economist Nathan Sheets says on July CPI data. “It’s consistent with the Fed’s expectations for ongoing disinflation of the US economy.” pic.twitter.com/0HWgI7L8qA
— Yahoo Finance (@YahooFinance) August 14, 2024
Bitcoin and Ethereum Prices to Rally
BTC price gained further after the inflation data, with a 5% jump in the past 24 hours. Bitcoin price is currently trading at $61,403, with a 24-hour low and high of $58,788 and $$61,572, respectively. Furthermore, the trading volume has decreased by 12% in the last 24 hours.
Favorable US CPI and PPI inflation data hint at a smooth crypto market recovery. Traders should focus on more cues before taking a position as the upcoming macroeconomic data this week is also crucial for the markets.
Meanwhile, ETH price is trading at $2,733, up 3% in the last 24 hours. The 24-hour low and high are $2,633 and $2,775, respectively. Furthermore, the trading volume has decreased by 19% in the last 24 hours, indicating a decline in interest among traders.
Varinder Singh
Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
As the crypto market is experiencing a bullish reversal with its total market cap surging by 3.17% to $2.74 trillion, the Solana price is gearing up for a potential rebound. As traders and investors are looking to capitalize on the token’s volatility, analysts unveil key price levels to watch in short term.
Notably, analysts like Ted predict SOL’s potential uptick to $180 amidst increasing whale activity. In this article, we’ll explore the top Solana price levels to watch in the short term which will help you to stay ahead of the curve and capitalize on market opportunities.
Solana Price To Rebound: Key Price Levels Revealed
As the Solana price hovers below $140, analysts and traders are closely watching market movements. While bears fear of a possible crash to $120, analysts like Ted offers a bullish outlook, predicting SOL’s potential surge to $180 by May 2025.
Presenting historical trends, Ted asserts that the Solana price is poised to reach $160-$180. He notes that Solana’s current patterns mirror those seen in 2022 Q4, suggesting potential similarities in future price movements. In addition, the analyst maintains a bullish outlook for the token, predicting a new all-time high for SOL during the third quarter of this year.
Key Price Levels To Watch
While Solana is poised for a potential rebound, traders are recommended to watch key price levels. Analyst Degen Hardy presents a detailed analysis of SOL’s current market conditions where he is trying to identify a long entry opportunity. As per his conclusions, the ideal scenario will be the Solana price to pull back, which, in turn, will form an inverse head and shoulders pattern.
Significantly, the chart presented by the trader represents key levels to watch. As SOL has surged past the significant support level of $125 and the resistance level of $135, the next target is $178.
As of now, SOL is trading at $139.23, up 2.15%.Over the past week and month, Solana has experienced a surge of 3.25% and 6.6%, respectively. Historical data suggests that Solana price could ultimately reach $256 if it surges past $178. The key levels in between $178 and $256 include $199, $216, and $238.
Moreover, increased whale activity also projects a potential rebound in Solana’s price. Whale Alert revealed that a Binance address moved 374,161 SOL ($52,768,341) to an unknown wallet.
SOL Clears Key Resistance: What’s Next
In his recent X post, TraderAG projected Solana price’s potential target of $170 as it has broken past its key resistance level at $135-$137. Though the analyst expected a retest to the $125 level, SOL broke past the resistance zone, sparking speculations of an uptrend.
According to TraderAG, SOL is capable of reaching $170 and beyond in the near term. CoinGape’s Solana price prediction reveals that SOL is expected to reach a maximum level of $173.44 and a minimum of $140.04 in 2025.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Cardano price appears to be inching towards a key breakpoint as it continues to consolidate within a symmetrical triangle pattern visible on its price chart. According to cryptocurrency analyst Ali, this formation could help ADA in a major price movement.
Cardano price predicted to surge 27%
In a recent tweet, Ali suggested that Cardano might be in the early stages of breaking out from this consolidation pattern. The symmetrical triangle visible on the price chart shows converging trendlines that have contained ADA’s price movement since early April 2025.
The symmetrical triangle pattern forming on Cardano’s chart is a period of consolidation where buyers and sellers reach a temporary equilibrium. According to technical analysis principles, symmetrical triangles often serve as continuation patterns, with the breakout direction typically following the prior trend.
#Cardano $ADA is still consolidating within a triangle pattern, setting the stage for a potential 27% price move. pic.twitter.com/AWH84U1FnJ
— Ali (@ali_charts) April 21, 2025
In Cardano’s case, the breakout yields the potential 27% price movement mentioned by Ali. The analyst has pointed out that Cardano might be in the early stages of breaking out from this pattern. The analysis by Ali comes as Cardano bulls secure the most important signal to drive a price rally.
Cardano is currently trading at $0.6424 with a 4.3% increase over the past 24 hours. Despite this short-term gain, ADA remains down nearly 10% over the past 30 days.
ADA sentiment remains neutral
Current market sentiment surrounding Cardano is mixed despite the potentially bullish technical setup. According to data from CoinCodex, the overall sentiment toward ADA is currently classified as “Neutral.” However, the Fear & Greed Index shows a reading of 39 and places it in the “Fear” category.
Looking ahead, CoinCodex projects that Cardano’s price could rise by 18.55% to reach $0.765833 by May 21, 2025. While this forecast falls short of the full 27% move suggested by the triangle pattern analysis, it aligns with the general direction and timeframe for a potential upside breakout.
The platform’s analysis of Cardano’s recent performance shows that ADA recorded 14 green days out of the last 30, which is a 47% positive day ratio. Price volatility over this period also stood 7.31%.
Despite the current “Fear” reading and mixed sentiment indicators, CoinCodex concludes that it’s now a good time to buy Cardano based on their technical indicators. However, the next move by ADA could very well be based on the overall market conditions too.
Vignesh Karunanidhi
Vignesh Karunanidhi is a seasoned crypto journalist with nearly 7 years of experience in the cryptocurrency industry. He has contributed to numerous publications, including WatcherGuru, BeInCrypto, Milkroad, and authored over 10,000 articles
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
With Ripple’s XRP lawsuit settlement finally in place, the crypto community is abuzz with anticipation over a possible XRP ETF launch. Despite the growing frenzy over XRP exchange-traded funds, the world’s largest asset management company, BlackRock, remains silent, sparking significant attention.
Detailing BlackRock’s vision and possible reasons behind its silence, expert All Things XRP shared a series of X posts. Let’s explore the expert’s threads, reading through the key points that shed light on BlackRock’s strategic approach to crypto investments.
Why Is BlackRock Silent on XRP ETF?
In a series of X posts, expert All Things XRP shed light on BlackRock’s strategic moves that steer them away from an XRP ETF. According to the expert, BlackRock’s hesitation to launch an XRP exchange-traded fund is driven by many factors regulatory concerns, market dynamics, and strategic considerations.
BlackRock Focuses on Bitcoin and Ethereum
Notably, the asset manager’s focus on Bitcoin and Ethereum ETFs is one of the main reasons to shy away from XRP. BlackRock is currently riding the wave of success with Bitcoin and Ethereum.
Reportedly, iShares Bitcoin Trust boasts over $30 billion in Assets Under Management (AUM). In addition, BlackRock’s ETH ETF has reached $1 billion in AUM in just two months. In light of this success, the platform is cautious about exploring other altcoins to mitigate potential risks.
Moreover, XRP may not meet BlackRock’s internal thresholds for demand, liquidity, and legal clarity. According to the company’s ETF executives, only Bitcoin and Ethereum currently meet these requirements.
Regulatory Concerns
As noted by the expert, regulatory concerns play a major role in BlackRock’s hesitation to back Ripple. Although both Ripple and the SEC dropped their appeals in the XRP lawsuit, the case is not officially over, with the label of “security” still lingering around. This uncertainty may deter the investment giant from applying for an XRP ETF.
Recently, All Things XRP shared insights on CEO Brad Garlinghouse’s crucial role in Ripple’s growth.
BlackRock’s Strategic Wait-and-See Approach
Interestingly, BlackRock is adopting a cautious approach, waiting for competitors like Grayscale and Franklin Templeton to launch their XRP ETFs. While these platforms will face the possible regulatory hurdles first, it will pave the way for BlackRock’s easy entry into the ETF space. This approach will also allow BlackRock to gauge institutional appetite for XRP products and assess the risk landscape.
Whoever takes the lead, an XRP ETF launch is poised for a significant price surge in the Ripple coin.
In addition, the asset manager’s fake XRP ETF filing in 2023 has further strengthened their cautious stance. Previously, the filing went viral and sparked ambiguity within the crypto market. The investment firm had to publicly deny involvement, potentially damaging their reputation. This incident might have made them cautious about pursuing an XRP ETF, at least for now, as they may want to avoid similar PR issues.
Will BlackRock Launch an XRP ETF?
Additional factors like lack of demand and XRP’s relatively small market share have also contributed to the asset manager’s decision. However, BlackRock is expected to push for an XRP ETF in the future after tackling all the possible hurdles.
BlackRock is known for launching products at the right moment, when the odds are in their favor. The strategic move is expected when XRP meets complete regulatory clarity and market stability. As per All Things XRP, BlackRock is envisioning dominating the market. The expert cited, “But if and when they do, it’ll be to dominate the space — not just participate.”
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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