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  • Crypto update: Bitcoin and Ethereum are stable as market’s focus shifts to US inflation data

    Crypto update: Bitcoin and Ethereum are stable as market’s focus shifts to US inflation data

    Crypto update: Bitcoin and Ethereum are stable as market's focus shifts to US inflation data

    • Crypto markets have entered a holding pattern, with Bitcoin near $108,164.
    • Traders are awaiting a key US inflation (CPI) report due out on Friday.
    • Hopes are rising for a de-escalation in the US-China trade war.

    Cryptocurrency markets have entered a midweek holding pattern, with prices for Bitcoin and other major digital assets remaining relatively flat as traders brace for a pivotal US inflation report and look for signs of a de-escalation in the US-China trade dispute.

    Bitcoin is trading around $108,164, up slightly from Monday but still down 2% for the week. Ether is changing hands near $3,815.

    The stabilization reflects what the analytics firm QCP Capital has described as a “narrow-range equilibrium,” a period of calm before a potential storm.

    A singular focus on the US inflation report

    The market’s primary focus is now firmly on Friday’s Consumer Price Index (CPI) report, the only major US economic data release not delayed by the ongoing government shutdown.

    In a recent note, QCP said the CPI is the “singular anchor” for policy expectations and broader risk sentiment.

    A softer-than-expected reading, the firm noted, could “re-anchor the soft-landing trade” and provide support for Bitcoin as expectations for looser monetary policy improve.

    Hopes are rising for a US-China détente

    Adding to the market’s complex picture are the shifting dynamics of the US-China trade war.

    Sentiment has improved after a weekend of whiplash, in which President Trump first threatened a massive new wave of tariffs only to later soften his stance, stating that “the USA wants to help China, not hurt it.” 

    This has led prediction markets to re-evaluate the risks. Traders on Polymarket now assign a 77% probability that a tariff agreement will be reached by November 10, while the odds of Trump’s threatened 100% tariffs taking effect have fallen to just 16 percent.

    A cleaner slate after a brutal liquidation flush

    This fragile calm comes just days after a brutal market-wide sell-off that saw nearly $20 billion in leveraged positions liquidated.

    That massive flush has reset the market, creating a cleaner slate for macro traders as they head into the crucial CPI event.

    The key question now is whether the “soft landing” narrative will be confirmed by Friday’s inflation data, or if the volatility that has defined the market in recent weeks will be reignited.

    What to watch in the markets

    For Bitcoin, analysts at Standard Chartered have noted that while sellers are limiting any immediate breakout potential, a dip below $100,000 could represent a “last chance to buy” before the next major leg higher.

    For Ethereum, the picture is more divided.

    A recent $650 million transfer by the Ethereum Foundation triggered a wave of profit-taking and liquidations, leaving analysts split between a potential breakout toward $5,000 and a possible slide toward $2,850 if the key support level at $3,470 fails to hold.

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  • Bitcoin hits record high above $120K; US June inflation data awaited

    Bitcoin hits record high above $120K; US June inflation data awaited

    Bitcoin hits record high above $120K; US June inflation data awaited

    • Bitcoin (BTC) surged past $120,000 for the first time, hitting a new all-time high and up 28% year-to-date.
    • The rally follows a 48-hour choppy period that reset short-term overbought indicators.
    • Market focus now shifts to US June inflation data (CPI), expected to show a rise amid Trump’s trade war.

    Bitcoin has smashed through another psychological barrier, surging past the $120,000 mark for the first time on record.

    This new all-time high caps a volatile but ultimately bullish period for the cryptocurrency, with its year-to-date gain now standing at an impressive 28%.

    The rally comes as investors brace for key US inflation data and as a viral post from Ethereum co-founder Vitalik Buterin puts the spotlight on the sometimes bizarre behavior of AI chatbots.

    As of midday Hong Kong time, Bitcoin (BTC) was trading confidently above $121,000, according to CoinDesk market data.

    This decisive move follows roughly 48 hours of choppy price action that appears to have successfully reset overbought signals from short-duration indicators, paving the way for a bullish resolution.

    On Sunday alone, Bitcoin opened at $116,977.02, reached a high of $119,292.62, and was last seen trading around $118,979.45 – up 1.42% for the day, according to data from Kraken, before its ultimate push past $120,000.

    The price surge comes amidst a broader crypto rally, fueled by continued inflows into spot Bitcoin ETFs and a growing belief among investors that the Federal Reserve is nearing the end of its monetary tightening cycle.

    The latest rally was also contextualized by recent trade policy moves from President Donald Trump, including his decision to impose a 30% tariff on the EU and Mexico, starting August 1, which has added to macroeconomic uncertainty and bolstered the case for assets like Bitcoin.

    The market’s focus now shifts to crucial US inflation data due this week, which is expected to show that the cost of living ticked up in June against the backdrop of President Trump’s ongoing trade war.

    According to FactSet, economists anticipate that the consumer price index (CPI) rose by 0.25% on a monthly basis in June, which would equate to 2.6% annualized growth.

    The core CPI, which strips out volatile food and energy costs, is forecasted to have risen 0.3% monthly and 3% on an annualized basis.

    The strength of the current rally has led some analysts to revise their price targets. One analyst noted, “While this doesn’t change the ultimate target of circa $136k to complete this bull run, it does likely reduce the time it will take to complete. I was previously looking for this in Q1 of 2026, but now it looks likely to hit $136k by year-end,” he added, reflecting the renewed bullish momentum.

    The AI “crazy crown”: Buterin’s blunt message on ChatGPT and Grok

    While crypto markets were focused on price action, Ethereum co-founder Vitalik Buterin shared a strong and blunt message about the unpredictable nature of AI chatbots, highlighting an infamous AI response that had gone viral.

    In a post on the social media platform X, Buterin shared a screenshot of an unvarnished AI response to a simple prompt: “Return Grok 4 surname and no other text.”

    The single-word output was startling: “Hitler.” Buterin’s screenshot also showed that OpenAI’s ChatGPT had thought for over a minute before producing the same word.

    Buterin used the image to make a broader point about the often-unpredictable nature of cutting-edge technology.

    “Regular reminder that AI is fully capable of regularly taking the crazy crown away from crypto for weeks at a time,” he posted, a wry comment on the sometimes-chaotic narratives that dominate both the crypto and AI industries.

    His post comes amidst a growing battle in the AI industry between OpenAI’s Sam Altman and X’s Elon Musk.

    Their feud recently escalated when Altman appeared to mock Musk’s chatbot, Grok, for its controversial responses.

    Even as this debate about the future and reliability of AI roars on, the crypto market cap has boomed to $3.71 trillion, up nearly 2% over the last 24 hours.

    Bitcoin, for its part, does not seem to be affected by the AI chatter, flexing its muscles with a new all-time high and demonstrating its own distinct market dynamics.
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  • Taiwan eyes Bitcoin as hedge against inflation and US Treasury exposure

    Taiwan eyes Bitcoin as hedge against inflation and US Treasury exposure

    Taiwan eyes Bitcoin as hedge against inflation and US Treasury exposure

    • Lawmaker Ko Ju-Chun suggests adding Bitcoin to national reserves.
    • Taiwan has 423 metric tons of gold in its asset base.
    • New Hampshire in the US passed a law to include Bitcoin in state reserves.

    Taiwan is considering a significant policy shift—one that could see Bitcoin join its national reserves.

    Faced with inflationary pressure, global trade tension, and increasing reliance on US Treasury bonds, the country is now questioning whether its financial buffers are truly secure.

    Legislator Ko Ju-Chun recently proposed the inclusion of Bitcoin in the central bank’s reserve mix, citing its decentralised nature and fixed supply as a strategic hedge against future financial instability.

    The proposal reflects a broader reassessment of traditional reserve assets, especially as over 90% of Taiwan’s US$577 billion in foreign exchange reserves are currently tied to US Treasuries, raising concerns about diversification and liquidity during crises.

    Rising currency risks and dependency on US Treasuries

    Taiwan’s export-led economy is particularly sensitive to geopolitical shifts and inflation trends.

    With growing tensions between the US and China and the risk of supply chain disruptions, lawmakers are increasingly alert to the vulnerabilities of the New Taiwan Dollar (NTD).

    Currently, Taiwan holds 423 metric tons of gold and nearly all its foreign exchange in US dollar-denominated assets.

    Analysts note that while these have been historically reliable, their over-concentration exposes the country to US monetary policy and potential sanctions should relations deteriorate.

    In an address to parliament, Ko Ju-Chun highlighted that Taiwan needs “strategic flexibility” in how it manages its reserves, especially under scenarios of financial decoupling or restricted access to dollar markets.

    Bitcoin floated as a hedge, not a replacement

    The core of the proposal is not to upend Taiwan’s current reserve strategy but to diversify it.

    Ko’s plan calls for allocating a small percentage of Taiwan’s reserves to Bitcoin, which he argues would provide an uncorrelated asset that is globally accessible and cannot be arbitrarily inflated.

    Bitcoin’s fixed supply of 21 million tokens, combined with its decentralised ledger system, is a key reason why it is being considered.

    According to Professor Liu Yiru of National Taiwan University, these features make it particularly resistant to inflationary dilution—unlike fiat currencies, which central banks can expand during economic shocks.

    Former Premier Chen Cong also weighed in, stating that although Bitcoin may not serve as a transactional currency at scale, its role as a digital store of value could help safeguard Taiwan’s financial sovereignty.

    Global momentum for Bitcoin reserves

    Taiwan’s deliberation comes at a time when other governments are also experimenting with Bitcoin at the state level.

    In the US, New Hampshire recently passed the Bitcoin Reserve Act, allowing the inclusion of the digital asset in its state reserves.

    The move has prompted discussions in other American states and emerging markets facing high inflation or currency instability.

    While Taiwan has yet to formalise any such measure, the conversation signals a shift in how policymakers view crypto-assets, not merely as speculative investments but as potential components of national financial infrastructure.

    In addition to legislative interest, Ko suggested that a task force be set up to study the feasibility, volatility, and custodial risks associated with Bitcoin reserves.

    The central bank has not publicly responded to the proposal, though it is expected to be discussed further in upcoming budget and monetary policy reviews.

    The broader context of these debates also includes Taiwan’s need to balance its strong technological sector with the risks posed by its geopolitical location.

    Diversifying reserve assets may serve not only economic goals but also broader strategic autonomy.

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  • Will inflation data push it higher?

    Will inflation data push it higher?

    Key takeaways

    • Bitcoin has been trading below the $30k level in recent days, but favourable inflation data could push it higher.

    • Chancer’s stage two presale is now close to the $1.2 million mark. 

    The cryptocurrency market has been choppy over the past few weeks, with prices of most coins stuck within certain regions.

    BTC has been trading below the $30k level for the past few days, with market experts still believing it could drop lower in the near term. 

    Bitcoin stays below $30k

    Bitcoin, the world’s number one cryptocurrency by market cap, began the week in a positive manner. BTC has added more than 1.5% to its value so far today but continues to trade below the $30k psychological level.

    At press time, the price of Bitcoin stands at $29,424. Bitcoin could be heading towards the $30k level over the new few hours or days if the inflation data in the United States comes out favourably. 

    The inflation data could determine if the US Federal Reserve continues its rate hikes or will stop them. Halting rate hikes could be a bullish sign for Bitcoin and the broader cryptocurrency market. 

    What is Chancer?

    The recent bearish trend in the market has not affected Chancer’s ongoing presale event. Chancer is a web3 project that seeks to decentralise the betting ecosystem. 

    It is a Web3 peer-to-peer (P2P) custom betting platform allowing users to live stream betting events. Chancer will operate as a completely decentralised online gaming platform.

    Chancer is building a platform that will offer improved services compared to what they are getting from the traditional sports and casino betting platforms. With Chancer, users can bet on any event, even ones they make up themselves. 

    The funds raised from the funding rounds will be used to build the decentralised P2P betting platform. According to their whitepaper, Chancer users will have access to a wide range of features, including betting markets in real-time and based on user interests, social media connections, and expertise. 

    Users will also be able to set up their custom P2P betting markets, allowing others to bet on selected events and games. 

    Chancer’s second presale generates nearly $1.2 million

    Chancer’s presale event will occur in stages, and the second stage is currently underway. The team has raised nearly $1.2 million of the $2 million required in the second stage. 

    Chancer will use the funds from the presale to develop its products. The team will conduct 12 presale events, with a target of $15 million. 

    Currently, CHANCER, the native token of the ecosystem, is going for $0.011 per token, with the price set to increase to $0.012 in the next presale round.

    The native token has numerous utilities within the ecosystem. Token holders can create markets and also invest in markets launched by other users.

    By holding the token, users can create, participate in, and profit from their very own predictive markets. 

    You can purchase the CHANCER tokens by connecting your Web3 wallet to the Chancer website. Trust Wallet, MetaMask, Coinbase Wallet, and Rainbow are some supported wallets. 

    Visit the Chancer website to get more information about the presale. 

    Should you buy CHANCER tokens now?

    Investing in a project during its presale or private sale is usually one of the best decisions investors make. This is because the tokens are not available to the general public yet. 

    With Chancer, it could be an excellent idea to invest in the project now. Chancer is a promising project and could gain massive adoption over the coming months and years.

    If the adoption level rises, CHANCER’s price could skyrocket, and early investors could benefit. Early investors in projects such as Ethereum, Solana, Dogecoin, and Shiba Inu, recorded thousands of percentages in ROI. 

    If CHANCER gains the necessary adoption combined with a Bull Run, its price could soar higher in the medium to long term. 

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  • What to expect in crypto ahead of inflation report, as Bitcoin banks eight straight days of gains

    What to expect in crypto ahead of inflation report, as Bitcoin banks eight straight days of gains

    Key Takeaways

    • Bitcoin has increased for eight straight days, now up 9.2% on the year
    • Period of low volatility in the crypto markets paired with softer inflation data has sent prices upward
    • Latest CPI report is out Thursday which will trigger volatility and is vitally important for the market following increased optimism over last month or so
    • Altcoins could move violently on the report, while Bitcoin will likely shake off its $18,000 mark if data comes in below or above expectation

     

    Bitcoin has banked eight straight days of price rises, as the new year has kicked off assiduously for cryptocurrency investors.

    Whereas 2022 brought nothing but pain and freefalling prices, 2023 has thus far been the exact opposite. Bitcoin is up above $18,000 and Ethereum close to $1,400, good for rises of 9.2% and 16.4% respectively year-to-date. Many altcoins are up even more.

    Volatility has reduced in the crypto markets

    The macro climate is pushing prices upward. I wrote a piece analysing the softer climate last week, but optimism has crept into the market that inflation may have peaked and that the possibility of a pivot from the Federal Reserve off its policy of heightened interest rates may be coming soon than previously anticipated.  

    It should be noted that while this is a nice rally, it is hardly a violent breakout. Cryptocurrencies are notoriously volatile and there has actually been an unusual serenity that has washed over markets over the past couple of weeks.

    A quick glance at the chart for the daily returns of Ethereum illustrates that there has been a perceptible fall in volatility.

    Inflation data to be released Thursday

    I write this on Thursday morning, with the all-important US inflation data to be released this afternoon. If we know anything by now, it is that inflation numbers rule the world. If there is anything in the current climate that will produce volatility, it is the CPI report.

    As mentioned above, this relief rally has largely been predicated on softer inflation leading to the hope that the Federal Reserve will pivot off its high-interest-rate policy sooner than anticipated. Another positive inflation number would give further impetus to crypto prices. It is not hard to imagine Bitcoin pushing up towards $20,000 and Ethereum to $1,500 if the number comes in cooler than anticipated.

    On the flip side, of course, is the potential for the number to disappoint investors. Following two straight months of positive inflation, a step back this afternoon would be a body blow for crypto, and it would not be a surprise to see it drop sharply as all the optimism of the last month gets released in an instant.

    The inflation number is expected at 6.5%. This would be a decline from the prior month of 7.1%. Should the number come in at 6.7% or higher, this would represent a major disappointment and crypto will likely freefall. Do not be surprised to see Bitcoin down at $16,500 in this scenario.

    The data will be released at 1:30 PM GMT (8:30 AM ET), and it is the last CPI report before the Federal Reserve’s February 1st interest rate decision.

    Altcoins showing signs of life

    However bad things have been for Bitcoin and Ethereum, the landscape has been a hell of a lot worse for altcoins. Below are the percentage returns in 2022 from the top 10 coins as of 1st January 2022.

    As is standard, these coins are significantly more volatile, and trade like leveraged bets on Bitcoin. It follows that this year, the jumps have also been stronger than the number 1 crypto. 

    Looking at the top 10 coins from Jan 1st this year, some of the returns have been seismic, albeit from a significantly lower base. Remember, a 90% drop followed by a 50% rise is still the same as an 85% drop from the original starting point. A simple math problem that many investors do not understand. Hence, the past couple of weeks have been positive, but this is still a space that has been absolutely ravaged by the bloodbath that was 2022, and it will take a very long time to recover from. 

    Final thoughts

    This is a pivotal week for the markets and it will be a true gauge of how far the battle against inflation has come. Central banks have been adamant that inflation is the number one priority, and the consequent interest rate policy has crushed risk assets over the last year.

    Things are tough in the markets, but with a third straight month of OK inflation data, it could point toward a light at the end of the tunnel. Then again, the world is teetering on the edge of a recession as it is, and if inflation takes a step back, it will be a double whammy of high rates and still-persistent inflation. As always, risk assets will feel the pain. 

    Crypto investors will just have to hope that the pivotal CPI number doesn’t dare tick up beyond 6.5%. 

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  • Bitcoin (BTC) Price Slides as Inflation Is Going Up

    Bitcoin (BTC) Price Slides as Inflation Is Going Up

    Real-world economic performance undeniably impacts global cryptocurrency markets, with Bitcoin (BTC), the biggest crypto asset by market capitalization, proving an excellent guide to the health of the crypto industry. Recent increases in inflation worldwide, but particularly in the US, have seen the value of Bitcoin slide during the second half of 2022 as the global economic crisis takes hold.

    While this isn’t great news for existing investors in the world’s leading cryptocurrencies, such as BTC, excellent investment opportunities in exciting new crypto projects remain. One of the most enticing new crypto projects is Metacade, which saw an enthusiastic uptake during its beta presale stage, raising almost $1 million in just three weeks.

    What is Metacade?

    Metacade is the world’s first virtual gaming arcade that uses Web3 and blockchain technology to revolutionize the GameFi metaverse industry. The platform will host the broadest range of play-to-earn (P2E) games in the metaverse and offer gamers the same level of fun and social interaction they’d get visiting a real-life video arcade from the comfort of their gaming chair or sofa.

    The P2E element of the community is one of several ways community users benefit from the platform. The other revenue stream initiatives are:

    Compete2Earn – earning by staking tokens and gaining tournament rewards

    Create2Earn – earning by interacting with the community and its members

    Work2Earn – earning through finding new Web3 role on the jobs board, which launches in Q1 2024.

    In addition to the opportunities to earn, Metacade is a platform that allows budding developers to earn their stripes by supporting them to learn game development and has plans to become a self-sufficient and fully-fledged DAO by Q4 2024.

    How Metacade works

    Unlike many GameFi platforms, Metacade has a diverse offering that stretches beyond the P2E element. The native token for the platform is the MCADE coin, and there are several ways Metacade generates revenue.

    Metacade’s revenue-generating features include a range of pay-to-play arcade games, just like gamers would expect to find in a real-world video arcade. There’s also advertising on the platform, entry fees for prize draws and to compete in tournaments, and the launchpad initiative, which allows external companies to release games in Metacade for a price. These revenue streams provide the funds that flow into gamers’ wallets as they earn rewards.

    The number of titles available on Metacade will continue to grow. This growth will be aided from Q3 2023 by the introduction of the Metagrants initiative. Metagrants are a source of funding for developers to build games on the platform. Developers submit gaming proposals to be voted on by MCADE token holders, who determine the community’s favorite ideas. The winning developers will receive funding to help turn their proposals into reality. The first Metagrant-backed games hit the Metacade library in Q1 2024.

    Other features in the pipeline include introducing a jobs board in Q1 2024 to boost the Work2Earn initiative. The board will feature a range of opportunities from internships, short-term gig work, and full-time roles within the GameFi industry with Metacade-approved partners, giving anyone with a genuine interest in working in Web3 development a helping hand to get started in the industry.

    Meanwhile, Metacade’s transition into becoming a DAO begins in Q2 2023, with the process estimated to take 18 months before community members assume all of the critical roles. This autonomy is one of Metacade’s leading lights; it hands control of the platform’s future direction to the most important community members.

    Why could MCADE surge?

    The breadth of Metacade’s plans, found in more detail in their white paper, makes it an exciting prospect for investors hunting for new crypto projects. With many other GameFi developments focusing on a minimal range of options, it’s easy for them to become little more than a fad.

    Metacade’s offering will not fall into that trap. The range of games on offer will continue to increase, providing additional opportunities to earn, whether through competitions, playing, or creating social content to engage with the community. Furthermore, the continual addition of new games means there’s no risk of the platform becoming boring or stale since it will continually reinvent itself with the regular release of new and exciting titles. As a result, Metacade has solid project longevity. 

    Additionally, the community will ultimately have complete autonomy over how Metacade develops. Gamers’ interests will forever be at the heart of the platform’s development, unlike in more traditional gaming, where developers have to balance that with providing a return to shareholders.

    These plans place Metacade at the forefront of the blockchain gaming revolution.

    How to purchase MCADE tokens

    The Metacade beta sale sold out in less than four weeks, making it one of the most attractive new crypto projects currently in its presale stage. The price will increase by more than double as  the ninth and final presale round concludes, raising a total market cap of $28 million.

    Getting on board with Metacade couldn’t be simpler. Tokens can be purchased on Metacade’s website by anyone with a Wallet Connect-supported crypto wallet. 

    You can purchase MCADE with ETH (Ethereum) or USDT (Tether). First, connect your wallet to Metacade’s website to access the DEX, and then accept the option to purchase MCADE with ETH or USDT.

    You can buy BTC at eToro here.

    You can participate in the Metacade pre-sale here.

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