Coindesk

The consumer price index (CPI) report due Wednesday will be the first under President Donald Trump's tenure, with signs of cooling likely to raise the chance of an interest-rate cut and lift the spirits of investors in risk assets, who have been hammered in recent weeks.The Bureau of Labor Statistics is forecast to say headline inflation declined year-over-year to 2.9% from 3%, while core inflation, which excludes volatile food and energy prices, also lost 0.1 percentage point to 3.2%.Slower inflation raises the chance of an interest-rate cut, making riskier investments more attractive. CPI, which measures the cost of a basket of goods and services across the U.S. economy, has accelerated for four consecutive months.In the past few weeks, the S&P...

Dogecoin (DOGE) and ether (ETH) cratered 9% in the past 24 hours as bitcoin (BTC) stumbled 4.5%, dipping below $80,000 and leading a brutal sell-off that wiped out $700 million in long positions.Leveraged traders betting on a rally got torched with $420 million in BTC longs and $150 million in ETH longs being liquidated, alongside $30 million in DOGE long losses. Solana (SOL) shed 8%, and XRP slipped 7%, with the broader CoinDesk 20 (CD20) falling more than 6.5%.Open interest in BTC futures dropped 7% to $45 billion, signaling forced exits as margin calls hit.“Investors are taking a risk-off approach as the chances for a Federal Reserve interest rate cut diminished after a stable jobs report and anticipation that February's...

Defiance's leveraged Strategy (MSTR) exchange-traded funds (ETFs) saw a surge in activity on Monday as the bitcoin (BTC)-holding firm's shares fell to their 200-day average.A record 24.33 million shares in the Defiance daily target 2x long MSTR ETF, trading under the ticker MSTX, changed hands as the ETF price slipped 32% to $17.90, the lowest since September, according to data source TradingView. The ETF seeks to deliver 200% of the daily percentage change in the share price of Strategy, formerly known as MicroStrategy.Meanwhile, trading volume in the Defiance daily target 2x short MSTR ETF (SMST) tallied 51.21 million, the highest since Nov. 24. The ETF seeks to deliver investment results corresponding to 2 times the inverse of the daily performance...

It may be a coincidence, but the recent decline in the Nasdaq and bitcoin (BTC) coincides with a sharp rise in Japanese government bond yields and the strengthening of the safe-haven Japanese yen (JPY), reminiscent of the market dynamics seen in early August.There could be a causation here, as, for decades, the low-yielding yen propped up global asset prices. The ongoing rise in the Japanese yen may have had a hand in the recent risk aversion on Wall Street and in the crypto market.That said, the bullish positioning in the Japanese yen looks overstretched, with speculators holding record longs last week, according to the CFTC data tracked by MacroMicro. Such extreme bullish positioning, representing a collective belief in a continued...

An ether (ETH) whale, who has held the token since its initial coin offering (ICO), made waves on Monday as it moved ETH worth millions to crypto exchange Kraken, according to blockchain sleuth Spot on Chain.The whale deposited 7,000 ETH, worth $13.8 million at press time, to Kraken as the token's price plummeted along with the broader market on U.S. recession fears. Ether tanked to $1,760, reaching the lowest since October 2023, and last changed hands at $1,900.Large inflows into exchanges are said to represent investors' intention to liquidate the asset or deploy the same as margin/collateral in derivatives trading. This often breeds price volatility.The ether ICO whale still holds 30,070 ETH worth over $50 million.Source link