XRP’s bearish chart pattern signalled a possible price correction toward $2, but analysts were still convinced of a continued uptrend to double-digits. Source: cointelegraph.com (Read Full Article)
Democrats signal support for bipartisan solution to market structure bill
A Republican-backed bill to create a market structure for digital assets is expected to head for a vote in the Senate Banking Committee soon. Source: cointelegraph.com (Read Full Article)
Price predictions 9/22: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, HYPE
Bitcoin’s sharp fall resulted in the biggest long liquidation in a 24-hour period, and the sell-off pulled many altcoins below their immediate support levels. Source: cointelegraph.com (Read Full Article)
Peso in freefall: US lifeline to Argentina met with Bitcoiners’ doubt
US steps in with a lifeline as Argentina battles peso turmoil, investor flight and President Javier Milei’s waning credibility. Crypto adoption surges. Source: cointelegraph.com (Read Full Article)
Bitcoin traders target downside liquidity after key price supports crumble: Is $107K next?
Bitcoin slips under $111,500 as $280 million in leverage long positions are liquidated, but key support levels may decide if BTC rebounds or risks a deeper breakdown. Source: cointelegraph.com (Read Full Article)
US, UK joint task force to explore crypto regulatory collaboration
The Transatlantic Taskforce for Markets of the Future will focus on exploring crypto laws and regulations between the two countries. Source: cointelegraph.com (Read Full Article)
ETH futures turn bearish: A market overreaction, or is $3.8K next?
ETH’s sharp sell-off lined up with the broader crypto market panic and is not a sign of structural weakness. Data suggests institutions will lead the price recovery. Source: cointelegraph.com (Read Full Article)
Ex-FTX exec’s plea deal still at center of court case
Ryan Salame is serving time in prison for charges related to FTX’s downfall, but his deal with US prosecutors is still being litigated through his wife’s criminal case. Source: cointelegraph.com (Read Full Article)
Canada August producer price index +0.5% m/m vs +0.2% expected
Prior was +0.7%Producer prices +4.0% y/y vs +2.6% priorRaw materials price index -0.6% m/m vs +0.3% priorRaw materials price index +3.2% y/y vs +0.8% priorRaw materials price index excluding crude energy up 15.5% y/yFalling oil prices have keep producer price in line this year but this is a surprise uptick. Higher prices for chemicals and chemical products, meat, fish and dairy products, motorized and recreational vehicles, and primary non-ferrous metal products contributed the most to the increase while energy moderated it.Meat prices were a big driver led by beef up +5.2% m/m. On the metals side, it was mainly gold and silver.Overall, crude oil prices are down 16.2% y/y and that’s a big input to indexes like this. If you strip that out (and low prices for oil won’t last forever), then you instantly have more of an inflation problem. The slop in the raw materials index nearly matches the 2021-22 period. This article was written by Adam Button at investinglive.com. Source: investinglive.com (Read Full Article)
Sell Rosh Hashanah, buy Yom Kippur
Rosh Hashanah starts today so Shanah Tovah to anyone celebrating.For stock markets though, it’s generally not a reason to cheer. The old adage on Wall Street is “Sell Rosh Hashanah, buy Yom Kippur”. That touches on a poor period of seasonality in late September. As Bank of America notes, that the final 10 days of September seen an average decline of 1.1% in US stocks dating back to 1928. Mike Zaccardi notes that the Rosh Hashanah/Tom Kippur period specifically averages -0.5% in the S&P 500.Yom Kippur ends at nightfall on October 2.So far this year, the market has bucked the trend of seasonal weakness in the S&P 500 but futures are down 0.3% at the moment. This article was written by Adam Button at investinglive.com. Source: investinglive.com (Read Full Article)