Market observers are closely watching the United States CPI data and the Fed’s policy decision to provide direction to the stock and crypto markets. The all-important United States Consumer Price Index report on June 13 will be followed up by the Federal Reserve’s policy decision on June 14. Bitcoin whales are using the recent sell-off as an opportunity to increase their holdings.
– The United States CPI data and the Fed’s policy decision will provide direction to the stock and crypto markets.
– Bitcoin whales accumulated 57,578 Bitcoin since April 9, even as Bitcoin’s price fell by roughly 10% during the period.
– Traders may remain cautious as market volatility is likely to pick up over the next few days.
– The S&P 500 Index reached the overhead resistance at 4,325 on June 9.
– The U.S. Dollar Index skidded back below the 20-day exponential moving average (EMA) of 103 on June 8.
– The bulls have managed to sustain Bitcoin above the important support of $25,250 for the past few days.
– Ether tried to start a recovery on June 11, but the shallow bounce suggests that the bears are selling on every minor rally.
– BNB’s price fell from $305 on June 5 to $220 on June 12, a 27% fall within a few days.
– XRP has been a relative outperformer in the past few days, as the bulls have managed to sustain the price above the moving averages.
– Cardano succumbed to intense selling pressure after breaking down from the ascending channel pattern on June 5.
– The bears pulled Dogecoin below $0.06 on June 10, but the bulls purchased this drop and the price recovered to close above the support.
– Solana slipped below the strong support of $15.28 on June 10, but the long tail on the candlestick shows aggressive buying at lower levels.
– Polygon plummeted below the vital support of $0.69 on June 10, indicating that bears are in firm control.