Bitcoin News
By Evie Vavasseur
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Fed, PCE Data, and Bitcoin's Next Big Test. Wednesday's announcement isn't the only thing traders are watching.
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Whale Inflows Drop 44% Since June, Binance Sees 9,000 BTC Pulled in a Day. The on-chain picture adds another layer. CryptoQuant tracked a 44% drop in Bitcoin inflows to…
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Oil, Iran, and the Geopolitical Wild Card. The US-Iran situation is murky. The pause in hostilities brought oil down from $95 to $83, and…
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Bitcoin hit $65,680 on Bitstamp after Sunday's close. Not a record, but a meaningful local high — and traders aren't sure whether to trust it.
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The move came against a pretty messy backdrop. The Federal Reserve's next rate decision lands Wednesday, July 29, with Fed Chair Kevin Warsh set to address the media afterward.
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Mosaic Asset Company flagged a possible breakout in 30-year bonds that could add pressure on Warsh during his post-meeting remarks.
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Wednesday's announcement isn't the only thing traders are watching. The Personal Consumption Expenditures index drops Thursday, and that data has moved Bitcoin before. Hard.
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Bitcoin's correlation with the S&P 500 and Nasdaq has dropped noticeably. That decoupling is interesting, but it's probably fragile.
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So Bitcoin's climbing while equities wobble. That's not a relationship traders can count on holding.
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The on-chain picture adds another layer. CryptoQuant tracked a 44% drop in Bitcoin inflows to Binance from large holders — whales — since June 12.
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Read also: Dollar Slides as Oil Slump Cools Fed, BOE, and BOJ Rate Hike Bets
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Whales pulling back isn't necessarily bearish on its own. But it does mean the market is leaning more on retail participation, which tends to be less stable and more reactive to…
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Binance also saw single-day withdrawals topping 9,000 BTC last week. That's a significant number.
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The Fed meeting is widely seen as the catalyst that could shift behavior across both retail and whale cohorts.
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The US-Iran situation is murky. The pause in hostilities brought oil down from $95 to $83, and traders are apparently pricing in some chance of a broader peace deal.
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