Analysis

Bitcoin is climbing higher when writing, technically bullish but steadying below August highs. Even though there are pockets of strength and the general market sentiment is bullish, looking at the CoinMarketCap poll, buyers should do more.

The Bank of Japan (BoJ) board members shared their views on the monetary policy outlook on Thursday, per the BoJ Minutes of the July meeting.Members shared a view over the need for vigilance to the risk of inflation overshoot.

Ethereum has largely mirrored Bitcoin in terms of price action and has yet to break out on its own accord in the past few months. According to price data, Ethereum is up by 13% in the past seven days, outpacing Bitcoin’s increase of 5.8% in the same time frame.

PayPal announced on Monday that it would begin allowing business account users in the US to buy, sell and hold cryptocurrencies, excluding New York merchants.

As the altcoin season approaches, Cardano (ADA) is gaining momentum, having recorded more than a 14% increase in the past week, according to CoinMarketCap.

Bitcoin (BTC) could benefit from the People’s Bank of China’s (PBOC) decision to cut the reserve requirement ratio (RRR) by 50 basis points (bps).

Investing.com – U.S. equities were mixed at the close on Wednesday, as gains in the Utilities, Technology and Telecoms sectors propelled shares higher while losses in the Oil&Gas, Healthcare and Basic Materials sectors led shares lower.

The USD/JPY pair edges lower to near 144.60 during the early Asian session on Thursday. The weakening of the US Dollar (USD) amid rising bets on a jumbo interest rate reduction from the US Federal Reserve (Fed) in November continues to weigh on the pair.

Ethereum (ETH) price has outshined Bitcoin (BTC) over the last week since the US Federal Reserve (Fed) slashed interest rate by 50 basis points (bps) on September 18, 2024.

Japan equities were lower at the close on Wednesday, as losses in the Gas&Water, Fishery and Retail sectors propelled shares lower.

EUR/GBP continues its recovery, trading up 0.40% in the 0.8360s on Wednesday.

XRP price is still consolidating above the $0.5785 support. The price must clear the $0.5950 and $0.6050 resistance levels to gain bullish momentum.

At the market open in London, the FTSE 100 Index dropped 0.20%.

Bitcoin (BTC) trades slightly down around $63,800 at the time of writing on Wednesday, consolidating within the $62,000 and $64,700 key levels for the sixth day in a row.

TradingKey - Goldman Sachs forecasts consecutive 25 basis point cuts from November 2024 to June 2025, bringing the federal funds rate to a terminal range of 3.25%–3.5%. Previously, they projected continuous cuts this year and quarterly cuts next year.

Silver consolidates near a multi-month peak touched earlier this Wednesday.

As enthusiasm surrounding the introduction of spot Ethereum and Bitcoin ETFs in the United States continues to grow, Hong Kong has embarked on its journey to establish a spot ETF market for these digital assets. 

EUR/JPY attracts buyers for the second straight day, albeit remains below the weekly top.

Ethereum price is holding gains above the $2,650 resistance. ETH is now consolidating gains and might aim for more gains above $2,700.

Citi hiked its price targets on two Chinese electric vehicle makers, forecasting stronger sales on resilient domestic conditions, despite broader headwinds for the Chinese economy.