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The latest price moves in crypto markets in context for July 24, 2023.
Bitcoin is at the pivotal 50-day SMA support, and a drop below this level could result in accelerated selling of BTC and altcoins.
One analyst pointed out the $27,000 level could be a short-term target for bitcoin amid the lack of positive news.
The balance kept in addresses that hold coins for at least 155 days has increased by $1.87 billion this month.
XRP price is down today, like other top crypto assets, as traders anticipate a Federal Reserve rate hike this week.
One token zoomed 1,200% even though its related project closed in May, data shows.
Bitcoin whales account for the most exchange inflows volumewise since June 2022 as short-term holders become increasingly active.
The highly anticipated project co-founded by OpenAI's Sam Altman launched its token on Monday.
The spot market is in the driver's seat as perpetual futures open interest to market cap ratio remains low, one observer said.
Launch of the token comes alongside protocol launch and prior release of the wallet.
- 20:21Fed: will weigh data when considering future monetary policy adjustments, Fed firmly committed to 2% inflation targetThe Federal Reserve's semi-annual monetary policy report said the Fed will weigh the data when considering future monetary policy adjustments, the Fed is firmly committed to achieving the 2 per cent inflation target; inflation expectations appear to be ‘generally consistent’ with the Fed's 2 per cent inflation target. The United States financial situation still appears to be somewhat tight, and the United States financial system remains ‘robust and resilient’.
- 20:20US SEC delays resolution on BlackRock's Ether ETF options trading until 9 AprilThe US Securities and Exchange Commission (SEC) on Friday postponed its resolution on BlackRock's Ether ETF options deal. The SEC said in a filing that it would defer its decision on whether to approve or disapprove until 9 April 2025. The agency said, ‘The Commission believes it is necessary to designate a longer period of time for the issuance of an order approving or disapproving the proposed rule change to allow sufficient time to consider the proposed rule change and the issues it raises.’
- 20:19US consumer confidence falls to seven-month lowU.S. consumer confidence fell to a seven-month low in early February, with the University of Michigan's preliminary consumer confidence index for February dropping 3.3 points to 67.8. The figure fell short of the expectations of all economists surveyed. The inflation outlook faces numerous uncertainties as President Donald Trump pushes ahead with tariff measures. If all tariffs on major U.S. trading partners come into effect and lead to higher prices, it could be a drag on consumer spending. The survey showed that the shopping sentiment indicator for big-ticket items fell 12 percentage points from the previous month. In addition, overall confidence was lower across all political affiliations. The current conditions indicator fell to a three-month low of 68.7 from 74; the expectations indicator fell to 67.3, the lowest since November 2023. The indicator reflecting the state of personal financial expectations fell to a low since October 2023 in early February. Indicators measuring economic prospects for the year ahead also declined.