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Will US Inflation Data Boost or Sink Bitcoin This Week?

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With the ongoing slump in Bitcoin (BTC) and the broader crypto market, traders should prepare for potential price swings this week, driven by key US economic updates.

Bitcoin is hovering around $54,000, with experts predicting more downward movement. Historically, September is the worst-performing month for BTC, but there’s hope for a rebound in October.

Key US Economic Events to Watch This Week

Risk-on assets like Bitcoin have started the week quietly. The largest cryptocurrency is currently trading at $54,800, reflecting a modest 0.7% rise in the last 24 hours.

However, upcoming US macroeconomic events and the anticipated debate between Donald Trump and Kamala Harris could impact traders’ sentiment and drive shifts in portfolios. Let’s take a closer look at how these events might shape the markets.

Donald Trump Debate Against Kamala Harris

As BeInCrypto previously noted, the upcoming presidential debate between Donald Trump and Kamala Harris has put crypto in the spotlight. Both candidates have made the topic central to their campaigns. Harris appears to be warming up to pro-crypto policies, according to recent reports.

Trump, meanwhile, has made bullish comments about Bitcoin and the broader crypto market, winning favor among industry insiders. Pennsylvania Senator John Fetterman predicts a “close” debate, recognizing that both Trump and Harris are capable of holding their ground.

According to CoinGecko data, PolitiFi meme coins are already seeing volatility in anticipation of the debate, with some Trump-inspired coins posting double-digit gains.

Read more: How Can Blockchain Be Used for Voting in 2024?

PolitiFi Meme Coins, Source: CoinGecko
PolitiFi Meme Coins. Source: CoinGecko

US CPI

Inflation is the focal point this week with the release of the August Consumer Price Index (CPI) and the less significant Producer Price Index (PPI), both arriving before the Federal Reserve’s next meeting. These figures could play a crucial role in determining the Fed’s interest rate decision.

The Bureau of Labor Statistics (BLS) is set to release the August CPI on Wednesday, September 11. In July, inflation eased to 2.9% from June’s 3%, a shift that boosted Bitcoin’s performance.

Economists now expect inflation to drop further to 2.7%, which could bolster Bitcoin’s strength if realized. Core CPI, excluding volatile items like food and energy, is projected to cool to 3.1% in August, down from 3.2% in July. Both headline and core CPI are expected to show monthly growth of 0.2% for August.

“Amid anticipation for the CPI data and Trump-Harris debate, traders claim Bitcoin’s current value is markedly low. Crypto markets await US economic and political news impacts,” one user noted.

Fed Interest Rate Probabilities, Source: CME Fed Watchtool
Fed Interest Rate Probabilities. Source: CME Fed Watchtool

Consumer Sentiment

Markets will also focus on the preliminary consumer sentiment report, set for release on September 13. The University of Michigan’s Consumer Confidence data will highlight the gap between the US economy’s overall strength and how households perceive their financial well-being.

Consumer sentiment tends to be more sensitive to inflation, while consumer confidence is closely tied to the labor market. Strong consumer confidence could boost spending and drive investment in assets like Bitcoin if investors remain optimistic about the economy. However, if Friday’s data reveals that consumers are still struggling with inflation, high interest rates, and job insecurity, crypto markets may react unpredictably.

Read more: How to Protect Yourself From Inflation Using Cryptocurrency

Additionally, Thursday’s initial jobless claims report could impact crypto volatility. This employment data might influence market sentiment by shaping perceptions of economic health and expectations for monetary policy, both of which could indirectly affect Bitcoin.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Ethereum Drops As Two Whales Face $235 Million Liquidation Risk

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Ethereum (ETH) is under pressure once again, dropping around 3% in the last 24 hours and falling below the $1,800 level. This decline is putting several large leveraged positions at risk, including two massive whale vaults on Maker that collectively hold over $235 million worth of ETH.

With on-chain indicators flashing warning signs and technical levels being tested, the stakes are rising for both bulls and bears. As ETH hovers near critical support, the coming days could prove pivotal for its short-term price trajectory.

Ethereum Whales Could Get Liquidated

Ethereum has dropped around 3% in the past 24 hours, slipping below the $1,900 mark once again. This decline is putting pressure on large leveraged positions within the DeFi ecosystem.

According to on-chain data from Lookonchain, two major whale vaults on Maker—one of the leading decentralized lending protocols—are now approaching critical levels.

Whale data on DeBank.
First Whale data on DeBank. Source: Lookonchain on X.

Together, these vaults hold 125,603 ETH, valued at approximately $235 million. With ETH’s price nearing their liquidation thresholds, both vaults are at risk of being forcibly closed if the downward trend continues.

In Maker’s system, users can deposit ETH into vaults as collateral to borrow the DAI stablecoin. To avoid liquidation, the collateral must stay above a certain health ratio—essentially a safety buffer.

Whale data on DeBank.
Second Whale data on DeBank. Source: Lookonchain on X.

When that buffer gets too low, the protocol automatically sells off the collateral to cover the debt. In this case, the health ratio of the whale positions has fallen to just 1.07, dangerously close to the minimum threshold.

One vault faces liquidation at an ETH price of $1,805, and the other at $1,787. If ETH continues to dip, these vaults could trigger significant sell pressure, potentially accelerating the downward move.

Indicators Suggest The Downtrend Could Continue

Ethereum’s recent price drop has pushed its Relative Strength Index (RSI) back into oversold territory, currently sitting at 24.37. Just three days ago, the RSI was at 58.92, indicating how quickly sentiment has shifted.

The RSI is a momentum indicator that measures the speed and change of price movements, with readings below 30 typically signaling that an asset is oversold.

ETH RSI.
ETH RSI. Source: TradingView.

While this suggests that Ethereum may be due for a short-term bounce or relief rally, historical data shows that RSI can remain oversold for extended periods—or even drop further—if bearish momentum stays strong.

Ethereum’s Directional Movement Index (DMI), which signals a strong downtrend, adds to the bearish outlook. The Average Directional Index (ADX), which measures the strength of a trend, surged to 38.6 from 23.47 just a day ago, indicating growing momentum behind the current move.

ETH DMI.
ETH DMI. Source: TradingView.

Meanwhile, the +DI (positive directional indicator) has fallen to 10.6, while the -DI (negative directional indicator) has spiked to 40.23, showing that sellers are firmly in control.

This combination—rising ADX, high -DI, and falling +DI—typically suggests an intensifying bearish trend, meaning Ethereum’s price could remain under pressure in the near term despite already being technically oversold.

Will Ethereum Fall Below $1,800 Soon?

If Ethereum’s downtrend continues, the next key level to watch is the support at $1,823. A break below this level could quickly push the price down toward $1,759—a move that would trigger the liquidation of two major whale vaults on Maker, which are already hovering near their thresholds.

These potential liquidations could amplify sell pressure, making it even harder for Ethereum price to stabilize in the short term. Given the current bearish momentum and weak technical indicators, this scenario remains a real risk if bulls fail to step in.

ETH Price Analysis. Source: TradingView.

However, if sentiment shifts and the trend reverses, Ethereum could regain ground and test the resistance level at $1,938.

Breaking above that could open the path toward $2,104, a level that has previously acted as both resistance and support. Should buying momentum strengthen further, ETH might continue climbing toward $2,320 and potentially even $2,546.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Dark Web Criminals Are Selling Binance and Gemini User Data

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More than 100,000 users of popular crypto exchanges Binance and Gemini may be at risk after a trove of sensitive information appeared for sale on the dark web.

The leaked data reportedly includes full names, email addresses, phone numbers, and location details—raising alarms over growing cyber threats in the crypto sector.

Dark Web Actors Are Targeting Crypto Users

On March 27, a dark web user operating under the alias AKM69 listed a large database allegedly tied to Gemini, one of the largest crypto trading platforms in the US.

According to Dark Web Informer, the dataset mainly includes information about users from the United States, with a few entries from Singapore and the United Kingdom. The attacker claims the data could be used for marketing, fraud, or crypto recovery scams.

“The database for sale reportedly includes 100,000 records, each containing full names, emails, phone numbers, and location data of individuals from the United States and a few entries from Singapore and the UK,” the report stated.

It is unclear whether the leak resulted from a direct breach of Gemini’s systems or from other vulnerabilities, such as compromised user accounts or phishing campaigns.

Meanwhile, this incident followed another alarming listing on March 26.

According to the report, a separate dark web actor, kiki88888, allegedly offered a trove of Binance user data for sale. The database is said to hold over 132,000 entries, including the exchange users’ login information.

Threat Actor Selling Binance Users' Data.
Threat Actor Selling Binance Users’ Data. Source: X/Dark Web Informer

The Dark Web Informer suggests phishing attacks likely caused the breach rather than a compromise of the exchange’s systems.

“Some of you really need to stop clicking random stuff,” the Informer stated.

Binance and Gemini have yet to publicly comment on these incidents. However, phishing remains one of the most effective methods cybercriminals use to exploit crypto holders.

Scammers often impersonate official accounts or place misleading ads that redirect users to fake websites. Coinbase users are also being extensively targeted through phishing campaigns.

As BeInCrypto reported earlier, in March, Coinbase users lost over $46 million to social engineering scams.

Blockchain security firm Scam Sniffer revealed that phishing-related losses exceeded $15 million in the first two months of the year. This figure highlights the growing scale of the threat.

Given the rising threats, crypto users should stay vigilant and avoid unfamiliar links. They should also protect their accounts with two-factor authentication and hardware wallets whenever possible.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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South Carolina Could Spend 10% of Funds on Bitcoin Reserve

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Representative Jordan Pace introduced legislation to create a Bitcoin Reserve for South Carolina, joining a nationwide effort. Currently, nearly half of all US states have an active bill to create a similar Reserve.

However, the talking point that this bill “allows 10% of state funds” in Bitcoin investments is taking off like wildfire. It may scare off fiscal conservatives, which contributed to recent failures.

South Carolina Joins the Bitcoin Reserve Race

Since President Trump announced his intention to create a US Bitcoin Reserve, many state governments have attempted to create smaller models.

In the last month, these efforts have been intensifying, with more and more states joining the effort. Today, South Carolina filed its own Bitcoin Reserve bill, allowing the state to make substantial purchases:

“The State Treasurer may invest in digital assets including, but not limited to, Bitcoin with money that is unexpended, unencumbered, or uncommitted. The amount of money that the State Treasurer may invest in digital assets from a fund specified in this section may not exceed ten precent of the total funds under management,” it reads.

State Representative Jordan Pace proposed South Carolina’s Bitcoin Reserve legislation. He claimed that this bill “gives the Treasurer new tools to protect taxpayer dollars from inflation,” one of crypto’s most well-known use cases. Pace is currently the bill’s only sponsor, and it’s unclear what chances it has of passing.

Still, there may be challenges ahead. Similar proposals in other Republican-led states—like Montana and Wyoming—have already failed. This was largely due to concerns over using public funds to buy cryptocurrency.

Even though Trump backs the idea on a national level, not all GOP lawmakers are convinced at the state level.

That said, there are some signs of progress elsewhere. For example, Texas has advanced its Bitcoin Reserve bill, achieving bipartisan support. A key reason for its success is that the bill doesn’t require the state to make crypto purchases; it simply allows them at the Treasurer’s discretion.

Likewise, South Carolina’s bill wouldn’t force the state to invest 10% of its funds into Bitcoin. It just opens the door for that possibility, giving the state financial flexibility rather than a mandate.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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