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  • Bitcoin dominance rises, Solana prepares a surge as CartelFi surges

    Bitcoin dominance rises, Solana prepares a surge as CartelFi surges

    Bitcoin’s dominance is undeniable with CMC’s altcoin season index substantiating the Bitcoin season at a level of 21. However, meme coins are making a comeback and investors are on the lookout for fresh projects promising hefty returns from little investments. The attention is particularly on new entrants whose foundation is more than just a viral joke. 

    One such meme crypto is CartelFi. It enables investors to earn passive income without compromising on the asset’s upside potential. 

    What’s more, even before the highly anticipated launch in Q3, early adopters are already earning big during its presale. With every 3-day stage, CARTFI token price surges by 5%. By the end of the 90-days period, the project will have transformed several retail investors into crypto millionaires.    

    Bitcoin price analysis: Neutral market sentiment creates hurdle on the path to $100,000

    A surge in institutional demand bolstered the bitcoin price to a two-month high on Friday. However, it has since pulled back as investors remain concerned over US-China trade tensions and the persistent macroeconomic uncertainties. Compared to last week’s greed level of 63, the crypto fear & greed index is at a neutral zone of 53.

    Data released by SoSoValue showed that only one out of the top 12 US BTC spot ETFs recorded daily net inflow on Friday. BlackRock’s IBIT recorded $674.91 million in the day’s net inflows while the other leading ETFs reported zero flows. 

    In the immediate term, the bulls are keen on defending the support at $96,050. Success at bouncing off that support level will avail a chance to break the resistance at $97,797 with the next target being the psychologically crucial zone of $100,000. On the flip side, a further pullback would have the bears eyeing $92,745.

     

    CartelFi rewards early adopters during the presale and beyond 

    CartelFi hit the ground running, raising over $500,000 in the first 24 hours of its presale. Notably, it has maintained the upside momentum despite the external chaos that have impacted the broader crypto market. 

    Less than 4 weeks into its launch, it has raised over $1.5 million. What started at a token price of $0.0251 is currently at $0.0408; rising by 5% every 72-hours stage.

    In addition to the opportunity to earn hefty cumulative gains during the presale, the project’s attractiveness has been enhanced by its concept of yield farming. Under the current DeFi structure, meme coins “lie idle” in between rallies. To enjoy yields, an investor would have to sell some tokens; missing out on a potential rally.

    CartelFi is solving this inefficiency by having an investor’s preferred meme coins work for them. Subsequently, one enjoys yields of upto 10,000% while still retaining the asset’s speculative upside. 

    Additionally, CartelFi’s programmed scarcity enhances its attractiveness and growth potential. 100% of the fees generated by the platform once users deposit their meme coins are used to buy back and burn CARTFI tokens. This ensures that the total supply remains low; sustaining its upside momentum. Find out how to buy CartelFi here.

    Solana price readies for a rally with a key bullish pattern underway

    Solana price has been hovering around the crucial zone of $150 for over a week after rebounding from the 14-month low hit in early April. While the sentiment in the broader crypto market has improved, investors are still concerned about Trump’s aggressive tariffs and their impact on the economy. 

    Even so, as meme coins make a comeback, Solana is set to benefit big from its positioning in the DeFi space. Subsequently, Solana price may continue to enjoy solid support at $140.

    Indeed, this has become a point of convergence for the 25 and 50-day EMAs; signaling the formation of a bullish golden cross pattern. On the upside, $160 remains a resistance level worth watching. 

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  • VIRTUAL token surges 183% in April amid rising institutional demand

    VIRTUAL token surges 183% in April amid rising institutional demand

    Investment

    • Institutional interest drives the VIRTUAL rally.
    • Chaikin Money Flow signals strong capital inflows.
    • The price pattern shows a bullish formation.

    While most digital assets struggled to maintain direction in April, VIRTUAL emerged as one of the few cryptocurrencies to post sharp gains.

    The token has rallied 183% since April 1, making it the top-performing asset in the crypto space during a month marked by subdued sentiment and low volatility.

    With its price up 22% in the last 24 hours alone, investor attention has turned to the technical indicators, suggesting further upside may be on the horizon.

    The rally comes amid a broader shift in smart capital allocation, as institutional buyers appear to be rotating into mid-cap altcoins with strong momentum and liquidity.

    Institutional interest drives the VIRTUAL rally

    VIRTUAL’s uptrend began on 22 April and has since shown consistent price appreciation.

    One of the most notable developments has been the surge in its Smart Money Index (SMI), which currently stands at 3.07.

    The SMI tracks institutional trading patterns by focusing on price movements during the opening and closing hours of each trading day.

    A rising SMI along with increasing price generally signals accumulation by professional or large investors.

    This correlation suggests that “smart money” is positioning itself for longer-term gains, adding weight to VIRTUAL’s recent momentum.

    On-chain data also shows that the number of whale addresses holding VIRTUAL has risen since mid-April, providing additional evidence of institutional accumulation.

    Chaikin Money Flow signals strong capital inflows

    Further confirming the bullish sentiment is VIRTUAL’s Chaikin Money Flow (CMF) indicator, which remains in positive territory at 0.25 and continues to trend upwards.

    The CMF measures the volume-weighted average of accumulation and distribution over a given period, helping traders assess the strength behind a price move.

    A positive and rising CMF reading reflects strong buying pressure and sustained capital inflows.

    Together with the elevated SMI, this trend reinforces the narrative that VIRTUAL’s current rally is backed by increasing liquidity and investor confidence.

    Analysts tracking short-term trends have also noted heightened activity on VIRTUAL’s decentralised exchange pairs, with total volume crossing $20 million over the past week.

    This points to both retail and institutional participation in the ongoing uptrend.

    Price pattern shows a bullish formation

    Technically, VIRTUAL has been trading within an ascending parallel channel since its breakout on 22 April.

    This formation, defined by consistently higher highs and higher lows within two upward-sloping trendlines, is generally considered a bullish signal.

    As long as the token remains within this pattern, the current trend is likely to continue.

    If momentum persists and demand remains high, VIRTUAL’s price could rise to test the upper resistance level near $2.26.

    That would represent a further 25% increase from current levels.

    However, if profit-taking intensifies and breaks the token’s support at $1.55 (£1.24), the bullish structure may fail.

    In that case, the price could drop towards the $0.96 region, where previous demand re-emerged.

    Short-term sentiment remains bullish

    Despite broader market weakness, sentiment around VIRTUAL remains positive in the short term due to favourable on-chain metrics and increased institutional interest.

    The token’s strong performance in April has sparked discussions around whether it can sustain momentum into May, particularly as altcoin volatility returns.

    Technical indicators currently favour a continuation of the uptrend, though any macroeconomic shock or sudden risk-off sentiment in the crypto sector could pose downside risks.

    Market participants are watching upcoming economic data releases closely, which may influence liquidity across risk assets, including VIRTUAL.

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  • The Graph price prediction as GRT surges 15%

    The Graph price prediction as GRT surges 15%

    • The Graph (GRT) price was up 15% and above $0.10, rising as most altcoins gained.
    • Bitcoin’s bullish flip this past week could boost altcoins, including GRT.
    • The Graph’s price is above a key level after a breakout of a technical pattern.

    The Graph (GRT) has emerged as one of the standout performers in the latest crypto rebound, gaining over 15% as sentiment across digital assets turned sharply positive.

    The move follows Bitcoin’s rally to above $94,000, driven in part by speculation around easing trade tensions and a broader macroeconomic tailwind that lifted risk assets, including equities.

    That momentum spread to altcoins, with GRT among the top gainers within the 100 largest tokens by market capitalization.

    Notably, The Graph’s price action in the past 24 hours saw buyers break above a key technical pattern.

    It’s an outlook that mirrors the moves for Sui and Arbitrum prices.

    The Graph price jumps 15% as altcoins rise

    As noted, The Graph’s price has climbed 15% in the past day. It is also more than 31% up in the past week, which aligns with a broader altcoin rally after BTC spiked to above $94k.

    On-chain activity, including staking by Indexers and Curators, continues to grow, potentially fueling further price gains for the altcoin.

    Currently, GRT is trading at $0.102, having jumped to an intraday high of $0.103.

    The altcoin, which boasts a 24-hour trading volume of $59 million (up 44%) and market cap of $997 million, is the 71st largest among cryptocurrencies.

    Strong buying momentum, driven by renewed interest in decentralized infrastructure projects, has pushed The Graph price above a key level.

    GRT reached its all-time high of $2.88 in February 2021.

    Can GRT price break to $0.2?

    GRT recently broke through a falling wedge pattern, a bullish technical setup that often signals a trend reversal.

    In most cases, a retest of a key hurdle and subsequent explosive move adds to the intensity of a breakout.

    As an analyst points out in the chart below, The Graph price’s breakout occurred as GRT surpassed the $0.1 resistance level.

    While not a major move, it’s an area representing a key psychological and technical barrier highlighted with a falling wedge.

    In the market, analysts look at falling wedge patterns, characterized by converging trend lines and declining volume, as indicative of a potential bullish flip. Buyers step in to push prices higher.

    Recently, another analyst shared a GRT price chart showing a “perfect ABCD harmonic pattern.”

    According to Alpha Crypto Signal, the altcoin was poised for a recovery, with this scenario unfolding on the weekly time frame.

    If positive sentiment prevails, GRT price could target $0.15 and then $0.2.

    However, failure to maintain above $0.1 might see GRT retest support near $0.072.

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  • Bitcoin surges past $65k to push 90% of holders into profit

    Bitcoin surges past $65k to push 90% of holders into profit

    Bitcoin price has spiked past $65,000, reaching the highest price level since early August 2024. The surge to the $65k level, with BTC hitting $65,500 on Coinbase, has put more than 90% of Bitcoin holders into profit.

    Notably, the surge has other coins looking to break higher. Ethereum has strengthened above $2,600, BNB is above $600 and Solana has jumped to $157.

    BTC/USD price chart. Source: TradingView

    BTC hits 7-week high

    In recent weeks, Bitcoin had struggled to breach resistance at $60k.

    However, once bulls did, the flagship cryptocurrency has run to a seven-week high last seen on August 2, 2024. The coin’s price hit the $65.5k area on most major crypto exchanges to see it retest a level likely to be key for both bulls and bears.

    Earlier in the day, on-chain analytics platform IntoTheBlock noted that more than 90% of BTC holders would swing profitable if Bitcoin crossed the $65k.

    This has happened and with recent profit taking deals in mind, bulls may need further strengthening to continue higher. Short term, the key levels are at $68k and $70k – which could include a potential retest of the all-time high of $73k reached in March.

    Alternatively, bears may take advantage and return prices lower – a scenario witnessed in July/early August as BTC declined from highs of $70k.

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  • SUI price surges as TVL hits $1.3 billion

    SUI price surges as TVL hits $1.3 billion

    Grayscale introduces Grayscale SUI Trust, boosting SUI price
    • Sui has seen a more than 44% spike in price in the past week and 65% in 30 days.
    • Gains come after the Grayscale Sui Trust opened for accredited investors.
    • The SUI network’s total value locked has surpassed $1.34 billion.

    SUI price has surged by more than 44% in the past week to trade above $1.67. The gains include a more than 65% spike in the past 30 days. This sees the native token of the layer 1 blockchain platform reach highs last seen in early April.

    What catalyzed SUI price surge?

    Sui has experienced a notable surge in volume after Grayscale announced its Sui Trust was now open to accredited investors.

    Daily volume for SUI skyrocketed after the news, and price followed, hitting levels above $1.

    SUI price on CoinMarketCap

    Sui’s price rally to above $1.67 has also coincided with a sharp increase in total value locked in various decentralized finance protocols in the Sui ecosystem. OKX Ventures pointed to the Grayscale Sui Trust’s boost to SUI market credibility as institutional interest emerged.

    Sui TVL hits $1.3 billion

    The bullish sentiment around this outlook is showing in the on-chain activity that has the TVL hitting $1.34 billion.

    According to DeFiLlama, Sui’s TVL rose from about $250 million at the start of 2024 to cross $1 billion in May. However, it dropped to $462 million on Aug. 5 amid the cryptocurrency market crash that pushed Bitcoin price below $50k.

    Notable though is the spike back to $1 billion and acceleration to $1.34 billion in less than a month. It means a more than 377% spike year-to-date and 47% month-to-date.

    Sui’s growing DeFi ecosystem that’s behind this surge include increased adoption for protocols across lending, decentralized exchanges, real-world assets, derivatives and yield.

    Navi Protocol has seen its TVL increase 34% month-to-date to over $449 million.

    Lending protocols Scallop and Suilend have respective TVL readings of $246 million and $203 million. It represents a 34% and 100% MTD spike respectively.

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  • Bitcoin Dogs (0DOG) surges as Bitcoin (BTC) demand increases in the US

    Bitcoin Dogs (0DOG) surges as Bitcoin (BTC) demand increases in the US

    Bitcoin Dogs (0DOG) surges as Bitcoin (BTC) demand increases in the US
    • Bitcoin Dogs’ token 0DOG surges after launching a high-APY liquidity pool.
    • Rising Bitcoin interest in the US boosts 0DOG’s value amid broader market trends.
    • Despite a US demand spike, global Bitcoin demand and profits remain weak.

    The cryptocurrency market is abuzz with recent developments as Bitcoin Dogs’ native token, 0DOG, experiences a dramatic surge amidst rising Bitcoin demand in the US. This notable increase in 0DOG’s value comes on the heels of the launch of its liquidity pool and a spike in Bitcoin interest following Federal Reserve Chair Jerome Powell’s comments.

    While Bitcoin’s broader market demand remains negative, the US sector’s engagement is driving significant shifts in both Bitcoin Dogs and Bitcoin itself.

    Bitcoin Dogs (0DOG) sees significant rebound

    Bitcoin Dogs (0DOG) has recently captured the spotlight with an impressive price surge following the launch of its highly anticipated liquidity pool.

    Initially, 0DOG faced a bearish trend, dipping to a low of $0.00603 after an initial surge on its first trading day. However, the token’s fortunes have reversed sharply with the liquidity pool’s debut. At press time, 0DOG was trading at 0.01646 after surging above $0.029 on August 30, 2024.

    The newly launched liquidity pool, offering an initial APY of 405.56%, has been a major catalyst for the price spike, drawing significant investor interest.

    The liquidity pool’s dynamic APY structure is designed to incentivize early participation, making it a lucrative opportunity for investors.

    With an initial pool size of $50,000, the APY will decrease as the pool grows, encouraging early entry to maximize returns. This structure, combined with Bitcoin Dogs’ innovative approach as the world’s first ICO on the Bitcoin BRC20 token, is driving heightened investor enthusiasm.

    The integration of 0DOG into the Telegram gaming sector and the forthcoming NFT collection further bolsters its growth prospects.

    These strategic developments are expected to attract a significant user base and provide added value through in-game utility for NFTs.

    Rising Bitcoin (BTC) demand in the US

    As Bitcoin Dogs regains its footing, Bitcoin’s demand in the US has shown a notable increase following Federal Reserve Chair Jerome Powell’s remarks at the Jackson Hole symposium.

    This uptick in US investor interest is evident from the rise in the Coinbase Premium to 0.11%, indicating higher local demand compared to international exchanges. The Inter-exchange Flow Pulse (IFP) metric has also seen a rally, signalling that BTC is flowing into US-based platforms in response to the price premium and increased demand.

    Despite this localized surge, overall Bitcoin demand growth remains lacklustre. The price of Bitcoin has been struggling to stay above $60,000 making investor engagement not to be marked by significant profit-taking.

    Realized profits of $536 million are modest compared to the multi-billion-dollar figures observed at previous market peaks. Furthermore, the Apparent Bitcoin Demand 30-day growth has transitioned from a positive 496,000 BTC in April to a negative 36,000 BTC, reflecting a broader decline in demand.

    Conclusion

    While Bitcoin Dogs (0DOG) benefits from the recent liquidity pool launch, there has been a rising Bitcoin interest in the US while the broader market presents a mixed picture.

    For more information about the relatively new Bitcoin Dogs project, whose native token is currently available for trading on MEXC, Gate.io, and Unisat, you can visit the project’s official website.

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  • Wirex Token (WXT) surges on partnerships and integrations ahead of WPAY launch

    Wirex Token (WXT) surges on partnerships and integrations ahead of WPAY launch

    • In the past month, WXT token has surged by more than 55%.
    • At press time, Wirex Token (WXT) was trading at $0.008041.
    • Investors are looking forward to the WPAY official launch; Wirex opened early access to WPay in January.

    Wirex Token (WXT) has experienced a significant surge in value fueled by strategic partnerships, integrations, and anticipation surrounding the imminent launch of WPAY, Wirex’s decentralized payment network.

    With a focus on empowering users through self-custody and seamless crypto transactions, Wirex has positioned itself at the forefront of the evolving digital finance landscape.

    Wirex expanding utility and reach

    Wirex Token (WXT) has emerged as a unique multi-blockchain cryptocurrency, powering Wirex’s X-tras rewards program and seamlessly integrating with the new wave of decentralized finance (DeFi) ecosystems.

    Built on both the Stellar Network and Ethereum blockchain, WXT offers maximum speed, efficiency, and flexibility for users seeking direct control over their assets.

    Wirex customers are rewarded with WXT for their loyalty, earning up to 4% back on purchases made using Wirex cards and up to 12% annually on their WXT account balances through the Savings Bonus feature. This incentive structure not only encourages engagement with the Wirex platform but also fosters participation in the growing DeFi landscape.

    Anticipation builds with WPAY launch imminent

    Wirex opened early access to WPay in January this year, and the Wirex Token price has surged by more than 70% since then.

    With the official launch of the WPAY imminent, the excitement is pulpable among early investors and WXT holders.

    In a nutshell, WPAY promises to revolutionize the way users interact with cryptocurrencies by offering a decentralized payment network that empowers individuals with self-custody and direct control over their assets.

    Utilizing Polygon CDK’s cutting-edge technology and Gateway FM’s IP providing service, WPAY aims to provide a seamless and secure payment experience, accepted by over 50 million merchants in more than 200 countries. With security being a top priority, every transaction made through WPAY is ensured to be smooth and safe, instilling confidence in users as they embrace the future of finance.

    Besides the much anticipated WPAY official launch, another factor behind the WXT price surge is the tapping of ZeroFox by Wirex to tackle dark web and money mule accounts. Also, last month, Wirex adopted cutting-edge policy management solution from Corlytics for growth.

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  • Kaspa price surges 20%, Bitbot unveils revolutionary Telegram trading bot

    Kaspa price surges 20%, Bitbot unveils revolutionary Telegram trading bot

    • Kaspa (KAS) price surges 20%, eyeing a $3 target amid bullish momentum and fair launch.
    • Bitbot unveils the world’s first Telegram self-custodial trading bot, empowering users.
    • BITBOT token presale offers a strategic investment opportunity.

    In the dynamic world of cryptocurrency, Kaspa (KAS) and Bitbot are making waves with significant developments.

    Kaspa, after a recent surge of 20%, stands at the forefront of altcoins, while Bitbot introduces the world’s first Telegram self-custodial trading bot, revolutionizing the way users trade in 2024.

    Kaspa (KAS): riding the waves of price volatility

    The recent fluctuations in Kaspa’s price have caught the attention of crypto enthusiasts. After trading in a closed range for weeks, KAS displayed a jump of 20%, reaching $0.1249.

    KAS price chart

    KAS reached an all-time high (ATH) of $0.154 on Nov 20, 2023, while its all-time low was $0.0001699, recorded on Jun 01, 2022. At its current price, the token is 71982.3% higher from its lowest point and only a few cents away from its ATH.

    Analysts predict a potential surge to $3, citing the coin’s fair launch and the absence from major exchanges like Binance and Coinbase. As Kaspa tests its resistance level of $0.1242, the market awaits the outcome that could propel the coin to new heights.

    Bitbot: Telegram bot pioneering self-custodial trading

    Bitbot enters the scene as the world’s first Telegram self-custodial trading bot, offering users institutional-grade tools directly on the popular messaging platform.

    With a focus on empowering retail investors, Bitbot ensures full custody of assets while providing tools like automated sniping, limit orders, and copy trading, typically reserved for institutional traders.

    Integrating with self-custodial wallets and backed by KnightSafe security, Bitbot is poised to reshape how users engage in crypto trading.

    BITBOT token presale

    Bitbot’s presale, which kicked off a few weeks ago, unfolds as an intriguing investment opportunity. With a total supply of 1,000,000,000 tokens, the presale consists of 15 stages, each with varying token prices and allocations. Currently in Stage 3, the token’s price is $0.011, with the next stage set at $0.0116.

    The project has raised $459,291 out of the $630,000 target, highlighting growing interest. Investors can anticipate exclusive benefits like revenue sharing, presale access, and governance influence through the $BITBOT token.

    Are Kaspa and Bitbot good investments?

    Investors eyeing Kaspa and Bitbot might find compelling reasons for consideration. Kaspa’s fair launch and potential exchange listings could drive a significant surge, as demonstrated by its previous listing on Coinone.

    On the other hand, Bitbot’s unique features and self-custodial approach cater to both large and small-scale investors, promising a new era in crypto trading.

    As with any investment, thorough research and risk assessment are advised, considering the market dynamics and individual preferences.

    Conclusion

    The dynamic developments in the cryptocurrency space continue to captivate investors and enthusiasts alike. Kaspa’s surge and Bitbot’s innovative approach to trading underscore the ever-evolving nature of the industry.

    Whether you are eyeing Kaspa’s potential for significant gains or exploring the revolutionary features of Bitbot, the crypto landscape remains full of opportunities for those willing to navigate its twists and turns.

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  • Tellor price surges as whales accumulate TRB

    Tellor price surges as whales accumulate TRB

    • Tellor (TRB) price rose to highs of $119 on Monday as bulls looked to close in the green for the first time in four days.
    • TRB price could see a bullishish continuation as whales buy more tokens.
    • Tellor price is just 26% from its all-time-high of $164 reached in May 2021.

    Tellor (TRB) price pumped early Monday as the market looked to continue the positive momentum that has catalysed recent gains for many altcoins.

    According to market data from CoinGecko, TRB price was $117 at the time of writing, up 15% in the past 24 hours. The price surge comes as a bullish break from lows of $96 saw TRB soar past $110.

    What is Tellor?

    Tellor is a decentralised oracle network with smart contracts on Ethereum.  The protocol’s oracle feeds provide for a permissionless infrastructure for bringing valuable off-chain data to smart contracts. Data providers compete for incentives in TRB, while the platform overall benefits the decentralised finance (DeFi) ecosystem.

    Tellor recently deployed on the Manta Pacific mainnet, adding its launch on the network to other EVM- compatible chains including Ethereum and Arbitrum. The oracle feed is also integrated with the Filecoin Virtual Machine.

    Why is the Tellor (TRB) price rising today?

    As can be seen in the chart below, TRB came close to hitting the $120 price level. This is the same price level that marked the point of last week’s rejection and the start of a four-day decline for the altcoin. Bulls are looking to decisively break the four-day red candle streak.

    Tellor price chart. Source: TradingView

    On-chain data sleuth Lookonchain has highlighted that TRB’s price gains today come amid new accumulation by whales. After buoying the uptick from lows of $41 earlier this month, whales are at it again. More than 27,400 TRB worth over $3.18 million have been moved from crypto exchange Binance in the last few hours, Lookonchain posted on X.

    “Whales accumulate $TRB again! 2 whales have withdrawn 27,405 $TRB ($3.18M) from #Binance in the past 5 hours. And the price of $TRB increased 15% today,” the account noted as Tellor pumped.

    The trend was also observable last week as TRB price skyrocketed 28% and 31% on October 23 and October 25. 

    With whales showing continued confidence in the token, its likely TRB/USD could surge past its immediate resistance zone. The next supply wall may be at the all-time-high zone above $160. 

    TRB price reached its ATH of $164 in May 2021, which means bulls are roughly 26% off the peak at current levels.

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  • Helium surges as Bitcoin and Ethereum hover at key levels

    Helium surges as Bitcoin and Ethereum hover at key levels

    • Helium rose double digits as did 1inch and NEM after US inflation data 
    • Bitcoin price on the other hand touched $31k on Coinbase and Ethereum hovered near $1.9k.
    • Consumer prices rose 0.2% month-over-month and 3% year-over-year in June.

    Bitcoin moved slightly higher on Wednesday after stock markets reacted positively to the latest US inflation data. However, the flagship cryptocurrency continued to hover near a crucial level as bulls looked to retest year-to-date highs.

    BTC was changing hands near $30,800 at 11 am ET, having touched intraday highs of $31k on Coinbase

    Elsewhere in the crypto market, the second largest cryptocurrency by market cap Ethereum was trading towards $1,900 as the total market cap rose 1.5% to above $1.24 trillion. The rest of the top 10 coins were also green at the time of writing. 

    Litecoin, which had plunged 10% in the past week by early morning, had recouped some of the losses and was 5% down in that timeframe.

    The biggest gainers in the past 24 hours among the top 200 by market cap were 1inch, NEM and Helium. All three had seen double digit upsides with HNT trading to highs of $1.48.

    Bitcoin, altcoins move higher on CPI data release

    US stocks opened higher on Wednesday too as the US consumer price index (CPI) data for June showed inflation had cooled year-over-year during the past month. Prices rose 0.2% month-over-month and 3% YoY in June, the latter a deceleration from the 4% recorded in May.

    According to data released by the US Bureau of Labor Statistics, CPI was at its slowest in June, with the last time it was at this pace being March 2021.

    Commenting on the CPI release, Charlie Bilello, Chief Market Strategist at Creative Planning Investor tweeted:

    “US CPI has moved down from a peak of 9.1% last June to 3.0% today. What’s driving that decline? Lower rates of inflation in fuel oil, gasoline, gas utilities, used cars, medical care, apparel, new cars, food at home, electricity and transportation. Shelter is the only major component that has a higher inflation rate than a year ago and it is a wildly lagging indicator (actual housing inflation is much lower w/ home prices/rents down YoY).”

    The Federal Reserve paused its interest rate hike cycle last month, although it noted it was likely to go for a 0.25% hike on another two occasions before the end of 2023. How markets react to upcoming central bank moves will be key to both equities and crypto.

    Jim Bianco of Bianco Research LLC notes markets still expects a 25 bps rate hike on July 26.

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