Bitcoin
BTC

tickers down
$62,711

starts a new week carefully preserving $60,000 support as sentiment walks the line between bullish and bearish.

BTC price action is sticking tightly to a narrow trading range — what could cause a dramatic change of pace?

This week is as good a time as any for crypto market volatility. United States macro data will combine with commentary from Jerome Powell, chair of the Federal Reserve, in what could prove to be an explosive mix for risk assets.

There is much at stake for Bitcoin bulls, even in this established range — the market has already teased a deeper correction, and traders are already marking levels that could come next.

These focus mainly on bid liquidity below $50,000 — an attractive zone for a longer-term market bottom. On shorter timeframes, however, BTC/USD seems more interested in clearing liquidity to the upside as the week begins.

Cointelegraph takes a look at the current state of play when it comes to BTC/USD performance.

New investors in bitcoin must keep their minds open,and do their due diligence before deciding to invest in bitcoin,as it dose not only offer a huge payday but also stark uncertainty at times.purchasing or mining bitcoin cen often be tricky.so here are some tips that will offer some insights to beginners thinking about interning the crypto market.

(Kitco News) - CPI day came and went with little reaction from the crypto market as Bitcoin (BTC) continues to trade sideways below $29,800 while the majority of altcoins in the top 200 traded within 3% of Wednesday’s prices.

Stocks initially responded positively to the CPI report, which showed that while inflation slightly reaccelerated in July, coming in at 3.2% as compared to June’s reading of 3%, prices rose at their slowest pace since October 2021, which suggests that the Federal Reserve’s fight against inflation appears to be headed in the right direction.

But the post-CPI momentum faded as the trading day progressed, resulting in the major indices trading near even at midday, before ultimately finishing the session higher. At the closing bell, the S&P, Dow, and Nasdaq were up 0.03%, 0.15%, and 0.12%, respectively.

Data provided by TradingView shows that Bitcoin’s price continues to compress, trading within a range of $29,305 and $29,715 on Thursday, prompting many analysts to warn that a breakout is imminent, but the direction is yet to be determined.

Bitcoin miners make moves in preparation for the BTC block reward halving, which is scheduled for April 2024.

In July, Bitcoin mining stocks continued their positive 2023 run, with the top 10 stocks by market cap gaining 23.10% on the month on average, with a year-to-date return of 277.34%.

In comparison, the Bitcoin

BTC

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$28,860

price lost 3.59% in July as it failed to build support above $30,000 for the sixth week since June. Despite a difficult July, the BTC price is still up 78.88% in 2023.

Citing Glassnode data, on-chain analyst Ali reported that long-term Bitcoin holders have added over 1.10 million BTC to their holdings over the past year, worth a whopping $33 billion.

Ali makes his deduction from the Bitcoin long-term holder supply, which has seen an increase in the past year. 

After a rough few months of slipping down the ranks, Shiba Inu is back in the top 15 cryptocurrencies by market cap. In the last 24 hours, the price of Shiba Inu has spiked in excess of 5%, allowing it to overtake cryptocurrencies like Wrapped Bitcoin and Bitcoin Cash to reach the 14th spot with a market cap of $4.8 billion.

Shiba Inu Jumps 5% In 24 Hours, Reclaiming 14th Spot

The price of the majority of cryptocurrencies seems to be plateauing in the past week, with some even losing some of their market cap. However, meme coins like Shiba Inu and Dogecoin seem to be doing slightly well, with DOGE leading the pack with a 7.02% gain in the past seven days. 

Shiba inu was a notable gainer on Friday, climbing to a two-week high during today’s session in the process. The move came as the meme coin rose by as much as 6%, despite the global crypto market cap mostly consolidating. Tron rose for a fourth straight session today.

U.Today's daily news digest keeps you informed of the most important updates in the crypto industry

The SHIB community has recently spotted a new gold check mark on Shiba Inu's official X (former Twitter) handle. The gold check mark indicates an official business account, according to Twitter's Verified Organizations program. To gain this privilege, businesses must enroll in the Twitter Verified Organizations program, paying a $1,000 per month subscription fee. The attainment of the gold check mark by Shiba Inu excited supporters of the meme coin, with many of them about the potential implications this might bring for the crypto. All speculation aside, Shiba Inu's new verified status serves as a major indicator of recognition for the crypto's growing influence.

After it finally crossed the $30,000 psychological threshold, Bitcoin (BTC) is currently looking at a strong resistance zone around $31,000, and if it manages to break it, a significant bull run could follow, and historical chart patterns suggest it might even reach $80,000 by the end of 2023.

As it happens, a cryptocurrency market analyst known as Crypto Tony has pointed out that if Bitcoin fails to take out the resistance area at $31,000 this week, it could “draw down to $28,000 for a reload option from the bears,” according to his tweet on July 3.