Continuing with recent patterns, even the most modest of crypto gains were met with waves of selling on Thursday, sending bitcoin (BTC) back to $88,000 after a rally above $93,000 just hours earlier. The move higher had begun on Wednesday evening in the U.S. after Nvidia (NVDA) calmed jittery markets with an earnings beat and rosy outlook. In addition to boosting battered crypto, the NVDA results sent the Nasdaq higher by more than 2%. Stocks are also rapidly reversing their gains, with the Nasdaq now hi ...

Contrarian bulls might be taking some heart as at least one well-followed analyst is throwing in towel on his hefty year-end price target for bitcoin (BTC). "While bitcoin’s structural investment case remains strong, cyclical dynamics have evolved," Alex Thorn, head of research at Mike Novogratz's Galaxy Digital, wrote in a Wednesday morning note to clients. Taking note of whale distribution, fading interest in BTC-adjacent investments, rotation to competing investment narratives like gold, artificial in ...

Market Overview - Crypto markets experienced a modest bounce with Bitcoin (BTC) rising above $110,000 and Ethereum's ether (ETH) gaining 3.8% to surpass $4,000, while Dogecoin (DOGE) and Solana (SOL) also saw increases of 3.4% and 2.5% respectively [1] - The recent inflation data aligned with forecasts, with the Personal Consumption Expenditures (PCE) index increasing by 2.7% year-over-year in August, and core PCE rising by 2.9% [1][2] Investor Sentiment - The Fear & Greed Index dropped to 28, indicating a state of "fear" among traders, reflecting recent volatility and a significant liquidation of leveraged long positions amounting to $1.1 billion [3][4] - Approximately $3 billion of leveraged longs have been liquidated recently, leading to an extreme bearish positioning in popular tokens like BTC, SOL, and DOGE, which now show a long-to-short ratio of one-to-nine [4] Market Predictions - If inflation trends lower, risk assets may gain support from confidence in the Federal Reserve's easing cycle, but any unexpected positive data could delay short-term rate cuts, negatively impacting equities and strengthening the U.S. dollar [3] - Some analysts express a cautious outlook, suggesting the market may drift lower before stabilizing, with BTC dipping below its 100-day moving average and the total crypto market cap falling under $4 trillion [5][6]