Bitcoin price drops below $37,000 ahead of US CPIBitcoin price wiped its weekend gains and dropped to $36,880 ahead of US inflation data.Headline CPI rate is expected at 0.1% MoM in October, marking a significant decline from 0.4% in September.BTC price yielded 5% weekly gains for holders. Bitcoin price touched the $37,900 level briefly on November 9 before retreating to $36,880 early on Monday. BTC price corrected lower, wiping out its weekend gains, as traders await US Consumer Price Index (CPI) data.Bitcoin traders await October’s CPI report, BTC trends sideways:Bitcoin rallied closer to $38,000 last week for the first time since May 2022. The asset noted a pullback and dropped to $36,880 as traders awaited Tuesday’s CPI data release. Headline CPI, the inflation figure closely related to shifts in the cost of living, is expected to grow by 0.1% MoM in October. This marks a key shift from the 0.4% increase seen in September.Last week, in his speech, US Federal Reserve Chair Jerome Powell said that the US central bank won’t hesitate to raise interest rates to ensure price stability. However, investors believe that the Fed might be done with interest rate hikes for now.Bitcoin traders are likely to remain cautious as the Core CPI inflation rate, which excludes volatile items such as food and energy and represents the long-run trend in inflation, is projected to remain at 4.1% YoY and 0.3% MoM.Yohay Elam, analyst at FXStreet, is quoted as saying:In case data comes out as expected, the drop in headline inflation will likely trigger an immediate positive impact on equities and put pressure on the US Dollar – even if Core CPI remains stubbornly elevated.Higher inflation tends to increase selling pressure on risk assets like Bitcoin. The BTC price trend is therefore likely to be influenced by the CPI report for October. Typically, the influence of macroeconomic releases on Bitcoin price volatility is short-lived. Hotter inflation figures could push BTC prices lower in the short term, while the long-term price outlook remains dependent on catalysts like approval of a spot Bitcoin ETF. At the time of writing, Bitcoin price is $36,834 on HTX. #BTC #CryptoTradingTip

Bitcoin, the pioneering decentralized cryptocurrency, has gained interest among techs, investors, and the public as a whole. Birthed in 2009, one of its significant features is the “halving” event, occurring approximately every four years. In this article, we will delve into what Bitcoin halving is all about and the impact it has on investment returns and the entire cryptocurrency landscape. #Write2Earn #TrendingTopic

🚨 BREAKING: 🇺🇸 US SEC Expected to APPROVE #Blackrock Spot #Bitcoin ETFs 🔥Here's EVERYTHING you need to know 😳A thread 🧵1️⃣ Landmark Approval Expected:👉 #BlackRock, the world's largest asset manager, anticipates approval from the Securities and Exchange Commission (SEC) for its groundbreaking #Bitcoin "spot" ETF.2️⃣ #Crypto Investment Milestone:👉 If approved, it will mark the first time a #crypto investment product, tracking daily #Bitcoin prices, trades on a public stock market. 3️⃣ Industry Shifting:👉 Approval signifies a significant shift in the financial landscape, bringing a mainstream investment vehicle tied to the world's leading digital currency 4️⃣Market Dynamics:👉 #BlackRock's move aligns with evolving market dynamics, where traditional financial institutions increasingly engage with the #crypto sector.5️⃣ Global Impact:👉 Other asset managers also await approval for their #Bitcoin ETFs, indicating a global trend toward embracing #crypto in traditional finance.6️⃣ Summary:👉 #BlackRock positions itself at the forefront of financial evolution, as #Bitcoin ETF approval signals a new era in mainstream #crypto adoption.

Bitcoin has followed the expected pattern and decreased in value to reach the first support area, where liquidity has been obtained. We predict that the market will experience some sideways movement over the next 2-3 days. In case the first support is breached, we anticipate a shift towards the second support area. It is highly unlikely that the SEC will approve spot ETF this month, which could lead to a market crash.First Support Area: $34,700-$35,000Second Support Area: $33,300-$33,600Resistance Area: $36,000-$37,000

BitcoinIn its latest weekly report on Nov. 13, crypto asset management firm CoinShares furthered the narrative that Bitcoin and altcoins are again attracting capital.Crypto institutional product AUM up 99% year-to-dateBitcoin, EtherSince November 2022, the total crypto market cap has increased by $600 billion, data from TradingView confirms.The past two months, however, have seen a precipitous increase in funds being deployed to crypto investment products, CoinShares reveals.“Digital asset investment products saw inflows totalling US$293m last week, bringing this 7-week run of inflows past the US$1bn mark, leaving year to date inflows at US$1.14bn, making it the third highest yearly inflows on record,” it summarized.Among the impressive statistics showing crypto’s renaissance in 2023 is the assets under management (AUM) tally for crypto exchange-traded products (ETPs).Since the start of the year, this has practically doubled, gaining nearly 10% in the past week alone.“At US$44.3bn, total AuM is now the highest since the major crypto fund failures in May 2022,” CoinShares noted.The report added that those aiming to long BTC had taken the lion’s share of volume.“Bitcoin saw inflows totalling US$240m last week, pushing year-to-date inflows to US$1.08bn, while short-bitcoin saw US$7m outflows, indicative of continue positive sentiment,” it stated.“This is what adoption looks like”The renewed interest meanwhile spurred on-chain analytics firm Glassnode to reassess Bitcoin supply dynamics.With the next block subsidy halving just five months away, BTC being ferreted away for storage is now outpacing the amount mined by 2.4 times, it showed in the latest edition of its weekly newsletter, “The Week On-Chain.”“The fourth halving event is fast approaching and represents an important fundamental, technical, and philosophical milestone for Bitcoin. For investors, it is also an area of intrigue given the impressive return profile in prior cycles,” it commented.Among the various accompanying charts, one showed BTC supply storage by long-term holders, or LTHs — entities coins for 155 days or more.Continuing, Philip Swift, creator of the statistics platform Look Into Bitcoin, highlighted increasing wallet entities, both large and small.“This is what adoption looks like,” he told X subscribers on the day.#BTC #Flow #CryptoTradingTip #EthereumHigh #Coinshares

Attention Beginners: Avoid These Fake Airdrops Airdrops are a great way to get free cryptocurrency, but they can also be a great way to get scammed. There are a number of fake airdrops out there, and they can be difficult to spot. If you're new to the crypto world, it's important to be aware of the risks of fake airdrops. Here are a few tips on how to avoid fake airdrops: Never give out your private keys. Your private keys are the keys to your cryptocurrency wallet. If you give them out to someone, they will have access to all of your funds. Be wary of airdrops that require you to pay a fee. There is no reason to pay a fee to receive an airdrop. If you're asked to pay a fee, it's probably a scam. DYOR. Here are a few examples of fake airdrops that are currently available: Bitcoin Gold Airdrop. This airdrop is claiming to give away free Bitcoin Gold, but it's actually a scam. The website is poorly designed, and the terms and conditions are not clear. Ethereum Classic Airdrop. This airdrop is claiming to give away free Ethereum Classic, but it's also a scam. The website is similar to the Bitcoin Gold Airdrop website, and the terms and conditions are also unclear. Litecoin Cash Airdrop. This airdrop is claiming to give away free Litecoin Cash, but it's also a scam. The website is similar to the Bitcoin Gold and Ethereum Classic Airdrop websites, and the terms and conditions are also unclear. If you see any of these airdrops, or any other airdrop that looks suspicious, don't claim it. Chances are, it's a scam. Here are some tips on how to find legitimate airdrops: Join crypto airdrop communities. There are a number of online communities where people discuss airdrops. These communities can be a good way to find legitimate airdrops. Use an airdrop aggregator. An airdrop aggregator is a website that lists all of the current airdrops. Airdrop aggregators can be a good way to find airdrops that you might not have heard of before. Be careful out there, and don't fall for any fake airdrops. #etf #BTC #airdrops. #ETH emotecrypto

Bitcoin Halving Countdown. Kick-Starting The Next Bull CycleBitcoin is expected to undergo its fourth halving in late April 2024. #BTC #CryptoTradingTip