Daily News 19

Tag: Cryptocurrency market

  • Trump Promises $5,000 Payment: Bitcoin and Altcoins React

    Trump Promises $5,000 Payment: Bitcoin and Altcoins React

    The U.S. election cycle, a key focus for Bitcoin and altcoin markets, has re-entered the spotlight. As the country moves toward the November congressional midterms, former President Donald Trump officially launched his campaign with a rally in Texas yesterday, unveiling a sweeping financial proposal aimed at adult American citizens.

    Trump Proposes $5,000 Payment for Every Adult Citizen

    Speaking at a Republican midterm election rally in Dallas, Trump declared that if Republicans secure control of both the Senate and the House of Representatives, every adult U.S. citizen would receive a $5,000 payment. The announcement was framed with a bold banner: “Trump: $5,000 for Every Adult Citizen!”

    However, the former president attached a strict domestic spending requirement. He stated, “I don’t want you spending this money in Canada, China, or Germany. The only condition is that the money is spent in the United States.”

    Funding Details and Legislative Hurdles Remain Unclear

    Trump did not outline how the program would be funded during his remarks. According to Reuters calculations, based on an estimated U.S. adult population of 270 million, the total cost could reach approximately $1.35 trillion. Legal experts cited by Reuters emphasized that a presidential decree alone would be insufficient to authorize such payments; congressional legislation would be required.

    Crypto Analysts Eye Potential Liquidity Surge and Altcoin Season

    The proposal has immediately sparked discussion within the cryptocurrency sector regarding its potential market impact. Cryptocurrency analyst Mark Chadwick suggested that implementing a $5,000 “dividend” for American adults could act as a powerful liquidity catalyst for digital assets.

    In a post on his X account, Chadwick compared the theoretical plan to the COVID-19 stimulus payments distributed in 2021. He argued that the influx of new capital could accelerate a bull market cycle he believes is already forming. Chadwick previously noted that the long-term downtrend in the altcoin market has broken, with current technical patterns resembling the early stages of previous major altcoin rallies.

    This is not investment advice.

  • Bitcoin Reacts to US PPI Data Release

    Bitcoin Reacts to US PPI Data Release

    Bitcoin slipped below $78,000 on Tuesday as traders braced for a critical week of U.S. inflation data, starting with the Producer Price Index (PPI) release. The pullback erased early-week gains that had briefly tested the $80,000 resistance level, and the broader altcoin market followed suit, with Ethereum (ETH), XRP, and BNB all posting losses.

    PPI and CPI Data to Shape Fed Rate Outlook

    The market’s focus remains fixed on the Federal Reserve’s September interest rate decision. According to Fed WatchTool data, the probability of a rate hike in September is currently priced at 62.2%. Today’s PPI figures and tomorrow’s Consumer Price Index (CPI) report are expected to be pivotal in shaping those expectations.

    Analysts suggest a lower-than-expected PPI reading could signal easing inflationary pressures, strengthening the case for a Fed rate cut and potentially triggering a positive reaction in Bitcoin and other risk assets. Conversely, a hotter-than-forecast print could dampen rate-cut hopes and apply short-term selling pressure on crypto markets.

    August PPI Data Released: Key Figures

    The U.S. Bureau of Labor Statistics released the August PPI data this morning. The results were mixed relative to forecasts:

    • Core PPI (Monthly): 0.2% (Expected: 0.3%; Previous: 0.2%)
    • Core PPI (Annual): 4.6% (Expected: 4.6%; Previous: 4.2%)
    • Headline PPI (Monthly): 0.4% (Expected: 0.4%; Previous: 0.0%)
    • Headline PPI (Annual): 5.4% (Expected: 5.3%; Previous: 4.7%)

    While the monthly core reading came in below expectations — a potential positive for risk sentiment — the annual headline figure ticked higher to 5.4%, above both the prior month and consensus estimates.

    Bitcoin’s Immediate Reaction

    Bitcoin’s initial price action following the data release was muted, holding near the $78,000 level as markets digested the mixed signals. Traders now await Wednesday’s CPI report for further directional clarity.

    This is not investment advice.

  • Bitcoin Holds $78,000 as Altcoin Market Falters

    Bitcoin Holds $78,000 as Altcoin Market Falters

    Bitcoin Holds $78K as Crypto Market Cap Dips to $2.76 Trillion

    Bitcoin traded at $78,378 on Tuesday, gaining roughly 1% over the past 24 hours and the past week, even as the broader cryptocurrency market slipped. Total crypto market capitalization fell nearly 1% to $2.76 trillion, with Bitcoin outperforming most altcoins. BTC’s own market cap hovered near $1.57 trillion, supported by daily trading volume between $29 billion and $35 billion across major exchanges.

    Range-Bound Trading Persists Below $83,000

    Bitcoin has remained stuck in a tight range below $83,000 for close to two weeks, a consolidation pattern that mirrors a similar quiet stretch in July and August. That earlier range eventually resolved into a bullish breakout. Currently, price is holding above a short-term floor near $77,000, with a recent low of $76,230 marking the next line of defense if the range breaks down.

    Some technical analysts argue that a clean daily close above $83,000 could open the door to a larger structural move, with a measured target projecting toward $160,000. That figure is framed as a pattern-based projection rather than a direct price forecast.

    Key Support Levels in Focus

    The broader uptrend dating from the July low remains intact as long as Bitcoin defends the $70,500 to $75,180 zone. A break below $70,500 would signal the first real crack in market structure, since that level represents the 50% retracement of the recent rally.

    Cycle-based timing models suggest a weaker stretch ahead, with a possible low forming in October, a period of calm into November, and a deeper dip near year-end before conditions improve heading into 2026.

    Sentiment Remains in Greed Territory

    Despite sideways price action, market sentiment has not cooled. The Fear and Greed Index sits at 69, firmly in “Greed” territory, indicating traders have not lost confidence even as price refuses to commit to a direction.

    What Analysts Are Watching Next

    • Break above $83,000: Would signal the range is finally resolving to the upside.
    • Drop below $76,230, then $70,500: Would point to a deeper pullback and potential trend change.
    • Historical rhyme: Whether this range snaps the way July–August’s did, with a fast move once the breakout occurs.

    For now, Bitcoin remains in a holding pattern. The levels are clear, the next move is not, and both short-term charts and longer-term timing signals agree on one thing: the market is building toward a decision, even if the direction remains unknown.

  • Bitcoin Gold Cross Alert: Analyst Warns “Bullish at First, But Then…”

    Bitcoin Gold Cross Alert: Analyst Warns “Bullish at First, But Then…”

    Cryptocurrency analyst Benjamin Cowen has warned investors that Bitcoin historically declines following a “Golden Cross” pattern, a technical formation typically interpreted as a bullish signal.

    Golden Cross Often Precedes Short-Term Pullback

    The Golden Cross occurs when the 50-day moving average crosses above the 200-day moving average. While technicians widely view this crossover as a long-term buy signal, Cowen’s analysis of past cycles shows the pattern frequently coincides with local market tops.

    Analyst: “Bitcoin Generally Seen to Decline After a Gold Crossover”

    According to Cowen, the rallies that precede the Golden Cross push the moving averages higher to create the crossover. However, once the intersection is complete, the market often experiences sell-offs from those local highs. Historical data from the 2019 and 2023 Golden Cross events shows pullbacks ranging between 12% and 15% at the moment of intersection, followed by recovery and new local highs.

    Current Pullback Considered Natural

    Cowen characterizes the ongoing pullback as a natural market structure development. He emphasizes that the critical factor is not the depth of the initial selling wave, but the character of the rebound rally that follows. It remains uncertain whether Bitcoin will establish a new high or form a lower peak after the sell-off concludes.

    Bullish vs. Bearish Scenarios for Q4

    Outlining forward-looking scenarios, Cowen stated that a higher peak during the rebound would strengthen the bullish case. Conversely, if the rebound remains weak and forms a lower peak—similar to the price action observed in 2014 and 2015—the risk of a renewed downturn in the fourth quarter could increase.

    This is not investment advice.

  • Shiba Inu (SHIB) Forms Bull Flag: Can It Erase a Zero Soon?

    Shiba Inu (SHIB) Forms Bull Flag: Can It Erase a Zero Soon?

    Traders have identified a bull flag pattern on the Shiba Inu (SHIB) price chart, raising the possibility that the meme cryptocurrency could remove a zero from its price in the coming days.

    A bull flag typically forms after a sharp upward move, followed by a period of downward-sloping consolidation. Traders often view the pattern as a potential continuation setup, particularly when the price breaks above the flag’s upper boundary on strong volume.

    “$SHIB is making Bull Flag,” said crypto trader $SHIB Knight. “Good chance to delete a zero in the coming days.”

    $SHIB is making Bull Flag. Good chance to delete a zero in the coming days.

    — $SHIB KNIGHT (@army_shiba), September 1, 2026

    In cryptocurrency market terminology, “deleting a zero” means removing one zero after the decimal point. For Shiba Inu, that would potentially mean reaching $0.00001.

    At the time of writing, SHIB was trading at $0.000005162, up 3.35% over the previous 24 hours but down 4.25% over the past week.

    The broader market is consolidating after a short squeeze drove cryptocurrency prices higher over the past week. However, the pause has not significantly weakened crypto’s relative strength, with most digital assets trading in positive territory over the last 24 hours.

    Crypto market open interest remained stable near $137.42 billion, while trading volume fell by nearly 14%. The data suggests traders are adding neither significant long nor short positions and are waiting for a clearer directional signal.

    Can Shiba Inu Reach $0.00001?

    Shiba Inu recovered from a three-day decline that took the price to a low of $0.00000488 on August 30, marking its second consecutive day of gains. The rebound had pushed SHIB to an intraday high of $0.00000523 at press time, with the price now approaching the daily 200-day moving average at $0.00000537.

    A break above the daily 200-day moving average could put $0.00000553 and $0.00000575 in focus, followed by $0.00000623. A decisive move above those levels could open the way toward $0.00001017, potentially removing a zero from Shiba Inu’s price.

    A potentially bullish market signal has also emerged as the Korean premium turns positive, suggesting that Korean investors may be returning to the cryptocurrency market.

    According to CryptoQuant, the Korea premium had remained negative for the longest period in its history before recently beginning to turn positive. The shift indicates that investors in the Korean market are starting to show increased interest in cryptocurrencies.

  • U.S. Looks to Influence Japan’s Monetary Policy—but Bitcoin Is Beyond Its Reach

    U.S. Looks to Influence Japan’s Monetary Policy—but Bitcoin Is Beyond Its Reach

    If Japan raises interest rates and the yen strengthens sharply, years of cheap yen-funded bullish bets on stocks, bonds and cryptocurrencies could unwind. Foreign investors who bought Japanese shares because of the weak yen may sell, while Japanese savers who moved money overseas as a hedge could repatriate those funds.

    As these positions are closed, risk assets could come under selling pressure. Bitcoin suffered collateral damage in early August 2024, when a Bank of Japan rate increase pushed the yen higher and triggered a broad wave of risk aversion.

    Bitcoin’s long-term bullish outlook remains intact, but the cryptocurrency still trades as a high-risk asset when traditional markets face sudden interest-rate and currency shocks. Investors should remain alert.

    For analysis of today’s activity in altcoins and derivatives, see Crypto Markets Today. For a comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead.”

    What’s Trending

    North Korean hackers move tens of millions on Hyperliquid as Trump pushes to bring crypto platform onshore

    Blockchain data reviewed by CoinDesk appears to show that wallets reportedly linked to North Korea’s Lazarus Group sold more than $30 million in bitcoin on the platform during the past three weeks alone.

    CME’s share of $XRP futures jumps as token rallies 40% in one week

    A growing share of $XRP futures trading is shifting toward CME as traders reduce leveraged positions across cryptocurrency exchanges.

    Global bond yields reach multi-decade highs as Middle East turmoil revives inflation fears

    Government bond yields rose across major markets, with borrowing costs in Japan and the U.K. reaching multi-decade highs and U.S. Treasury yields also surging.

    Oil prices rise and stocks fall as Middle East violence intensifies uncertainty

    Oil prices climbed 2% while global shares fell Tuesday. Brent crude gained 2% to $92.35 per barrel, and U.S. benchmark crude rose 2.5% to $87.84 per barrel.

    Source: cryptonews.net

  • CoinMarketCap’s Altcoin Season Index Continues to Rise: Here’s the Latest Data

    CoinMarketCap’s Altcoin Season Index Continues to Rise: Here’s the Latest Data

    CoinMarketCap’s Altcoin Season Index climbed 2 points to 28, up from yesterday’s reading. Although the increase signals a modest improvement in altcoin performance relative to Bitcoin, the market remains well below the threshold for an altcoin season.

    Altcoin Season Index remains firmly in Bitcoin season territory

    The CoinMarketCap Altcoin Season Index measures the 90-day performance of the top 100 cryptocurrencies by market capitalization against Bitcoin. Stablecoins and wrapped tokens are excluded from the calculation. The index is widely used to gauge whether capital is shifting from Bitcoin into altcoins.

    An altcoin season is considered to have started when at least 75% of the top 100 cryptocurrencies outperform Bitcoin over a 90-day period. If that threshold is not reached, market conditions are classified as a Bitcoin season.

    Readings closer to 100 indicate market conditions that are more favorable to altcoins, while lower readings show that Bitcoin is outperforming the broader altcoin market. At 28, the current index indicates that altcoins have not established broad-based dominance.

    Bitcoin dominance continues to influence altcoin performance

    Bitcoin’s price movements and market dominance remain key factors in determining the overall direction of the cryptocurrency market. Changes in investor risk appetite, liquidity conditions, and Bitcoin’s upward or downward movements can have a direct impact on altcoin performance.

    While the index’s 2-point daily increase is positive for altcoins’ relative performance, it does not by itself confirm a trend reversal. For an altcoin season to develop, the index must rise further in the coming period, with a substantial share of the top 100 cryptocurrencies outperforming Bitcoin.

    Market participants are closely watching Bitcoin dominance, the performance of major altcoins, and further movements in the Altcoin Season Index to determine whether capital flows into altcoins are strengthening.

    This is not investment advice.

    Source: cryptonews.net

  • Filecoin Emerges as a Data Layer Amid CoreWeave’s Growth

    Filecoin Emerges as a Data Layer Amid CoreWeave’s Growth

    CoreWeave reported a contracted backlog of $104 billion in the second quarter of 2026, up 246% from $30.1 billion a year earlier. The company added another $25 billion in contracted business during the first weeks of the third quarter, highlighting surging demand for data infrastructure and storage solutions.

    Crypto commentator @Filecoin said the development underscores Filecoin’s role as a vital data layer. The increase in demand could also support wider adoption of decentralized storage technologies.

    CoreWeave Backlog Signals Strong Data Infrastructure Demand

    The broader cryptocurrency market continues to send mixed signals, but CoreWeave’s rapidly expanding backlog is drawing attention across the data and technology sectors. Major technology companies are expected to maintain significant capital expenditure, creating favorable conditions for continued growth in data storage and computing infrastructure.

    This investment trend could increase interest in Filecoin as a foundational network for decentralized data storage. The growing focus on data solutions also highlights the importance of storage technologies that can address changing security, availability, and scalability requirements.

    Filecoin operates as a decentralized storage network designed to provide data storage solutions. As concerns about vulnerabilities in centralized data systems increase, demand for alternative and reliable storage options may grow. The regulatory environment could further encourage innovation in data management and create additional opportunities for decentralized storage networks.

    What the CoreWeave Backlog Could Mean for Filecoin

    Traders should monitor developments involving CoreWeave and similar companies, as their expanding order books point to a growing market for data infrastructure and decentralized data solutions. Greater adoption of Filecoin could contribute to significant market movements, although its impact will depend on broader usage and investment conditions.

    Macroeconomic factors, including interest rates and regulatory changes, will also influence the direction of the data storage and cryptocurrency markets. These conditions are likely to remain important drivers of future demand for decentralized storage technologies.

  • 21Shares Reveals Crucial XRP Data: “It Outperformed Its Competitors!”

    21Shares Reveals Crucial XRP Data: “It Outperformed Its Competitors!”

    As XRP experiences a significant resurgence, reclaiming the $1.4 price threshold alongside a broader cryptocurrency market recovery led by Bitcoin, crypto asset management firm 21Shares has published a detailed analysis examining the token’s supply dynamics.

    The report reveals that XRP has achieved a notable milestone, recording the lowest annual supply dilution rate among major payment-focused digital assets compared in the study.

    Understanding XRP’s Supply Dilution and Escrow Releases

    According to the 21Shares analysis, the circulating supply of XRP expanded by 5.5% year-on-year during the first half of 2026. This increase in circulating supply is primarily driven by the programmatic release and subsequent lock-up of tokens from escrow accounts. Based on the firm’s calculations, approximately 272 million XRP are added to the active market on average each month.

    For investors, this 5.5% supply expansion translates to an equivalent annual dilution of their holdings under current transaction fee structures. Analysts at 21Shares point out that, all other factors remaining equal, the market price of XRP needs to appreciate by at least 5.5% annually for holders to maintain their purchasing power and achieve a break-even state.

    The Gap Between XRPL Fees and Token Inflation

    The analysis emphasizes that transaction fees generated by the network are currently insufficient to neutralize this supply expansion. To completely offset the impact of the newly released supply over the next year at current valuation levels, the fee revenue generated by the XRP Ledger (XRPL) would need to increase by 12,700 times.

    This revenue gap is further highlighted by a downward trend in network activity fees. The 21Shares data indicates that XRPL revenues during the first half of 2026 experienced an 81.6% year-on-year decline, falling from $6.43 million to $1.18 million.

    How XRP Compares to Stellar and TON

    Despite the dilution challenges, XRP compares favorably against other prominent cryptocurrencies positioned as utility and payment networks. 21Shares compared XRP’s supply metrics against similar assets, revealing the following annual supply dilution rates:

    • XRP: 5.5%
    • Stellar (XLM): 8.8%
    • Toncoin (TON): 9.6%

    With a 5.5% rate, XRP maintains the lowest annual supply dilution among the payment-centric cryptocurrencies evaluated in the 21Shares study.

    Disclaimer: This article is for informational purposes only and does not constitute investment advice.