FMP
May 16, 2024 9:30 AM - Parth Sanghvi
As of the latest CoinMarketCap data, Bitcoin is trading at $64,222, representing a 3.98% increase in the past 24 hours. This spike in Bitcoin's price is quite notable as the cryptocurrency has failed to cross the $64,000 mark in recent times.
Notably, the surge comes following the release of the U.S. Consumer Price Index (CPI) data, showing a 3.4% drop on a year-on-year basis. This data aligns with expectations from analysts, explaining the reason behind the spike in the price of Bitcoin.
Traders on index swaps are now anticipating a faster pace of rate cuts following the most recent CPI data. In addition, the Federal Reserve is expected to decrease borrowing costs in September and December.
As previously reported by U.Today, Saylor forecast that U.S. pension funds, which collectively manage more than $27 trillion in assets, will need "some Bitcoin."
During the recent dip in BTC's price, volume analysis showed increased buying activity. This indicates strong support from buyers at lower price levels.
Typically, this accumulation phase often precedes a price rally, as investors take advantage of lower prices to build their positions.
As investors await the next price levels for the leading digital assets, it is worthy of note that volatility is inherent to the crypto market.
Stay updated on the latest developments in the crypto market with the Crypto News API.
Jan 16, 2024 4:18 PM - Samuel Abdelshahid
In the hustle and bustle of the trading world, having a trustworthy laptop is like having a reliable partner by your side. Making well-informed decisions and staying ahead of market trends become second nature with the right device. However, the quest for a budget-friendly trading laptop t...
Jan 21, 2024 4:00 AM - Parth Sanghvi
Introduction: In the world of financial analysis, a profound grasp of essential profitability metrics is vital. This blog delves into three pivotal metrics—ROE (Return on Equity), ROA (Return on Assets), and Net Profit Margin—offering clear insights without unnecessary complexity. Exploring RO...
May 14, 2024 11:41 AM - Sanzhi Kobzhan
A stock's target price, also known as its fair value, is an indication of what a share can cost based on the company’s forecasted financial statements. It is important to know a stock's fair value to find undervalued stocks with great growth potential. Let's consider how investment analysts calculat...