Bitcoin rallies to one-month high as the top cryptocurrency's share of the total market jumps above 41%. Reports godbole17
Bitcoin rose on Tuesday as investors braced for crucial U.S. data likely to show that the consumer price index growth is slowing in response to Federal Reserve's aggressive liquidity tightening.
Bitcoin probably benefitted from haven flows stemming from the unease about the health of the dominant cryptocurrency exchange Binance. The cryptocurrency's dominance rate, or the share in the crypto market, rose to 41.4%, the highest since Oct. 29. Historically, traders have piled into bitcoin, lifting its dominance rate during times of stress in the broader market.
Meanwhile, the growth in core CPI, which strips out the volatile food and energy component, is expected to have slowed to 6.1% from October's 6.3%.in favor of easing, bringing cheer to risk assets. The Fed has raised rates by 375 basis points since March to control rampant inflation and the liquidity tightening has ruined risk assets, including bitcoin.
Open interest refers to the dollar value locked in the number of active futures contracts. The funding rate, charged every eight hours by exchanges, refers to the cost of holding bullish/bearish positions in the perpetual futures market. A negative rate implies bears are paying the bulls to keep their positions open and leverage is skewed on the bearish side.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Cowboys score with 41 seconds left to avoid major upset against TexansEzekiel Elliott scored the go-ahead touchdown with 41 seconds remaining, and the Cowboys avoided a major upset with a 27-23 victory over Texans.
Consulte Mais informação »
The Tragic Death of 'The Clown Prince of NASCAR' Joe Weatherly at Age 41NASCAR 75: One of a series of 75 stories that helped define the first three quarters of a century of NASCAR, as Autoweek races to the 2023 Daytona 500.
Consulte Mais informação »
The 50 Best Albums Of 2022 (50-41)• Soul Glo 'Diaspora Problems' • JID 'The Forever Story' • Robert Glasper 'Black Radio III' • Sam Prekop & John McEntire 'Sons Of' These are some of nprmusic's favorite albums of the year.
Consulte Mais informação »
41 Christmas desserts for the sweetest holidayGrab the oven mitts, a cocktail and maybe a Santa hat — if you feel like being extra cheesy — and get to baking.
Consulte Mais informação »
Down 41 cents in 4 weeks: Florida gas prices drop — againFlorida gas prices declined 12 cents per gallon last week. The state average is now on a 31-day streak of declines, falling a total of 41 cents per gallon, according to AAA.
Consulte Mais informação »
Chef-owner of San Francisco's Dear Inga dies at 41The chef-owner died last month after complications with cancer.
Consulte Mais informação »