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5 Terra Luna Classic Developments, How LUNC Price To Impact?
LUNC News: Terra Luna Classic community’s recovery efforts hit roadblocks as the broader crypto market took a downturn, with traders reconsidering market activity ahead of Donald Trump’s inauguration on January 20. Here are key developments making buzz in the Terra Luna Classic community. Terra Luna Classic Forks Removal Software Upgrade Blockchain developer Orbit Labs announced the completion of the first phase of the removal of the fork modules. The upgrade proposal will be put up for governance voting next week and the mainnet upgrade is planned to happen in February. “We have successfully transitioned all relevant logic and code that were previously part of the forked repository. The changes include the following repositories and associated modules.” According to the developer group , the upgrade will bring Terra Luna Classic into alignment with the mainstream Cosmos ecosystem. It makes security updates and maintenance easy. This includes the fix of multi-send handling for the “reverse charge” implementation. Billions of LUNC and USTC Tokens Burn The Terra Luna Classic community is planning major LUNC and USTC burn campaigns after Terraform Labs bankruptcy. With support from Binance LUNC burn mechanism , the community has burned nearly 400 billion LUNC tokens in total. Currently, the community plans to burn 1.8 billion USTC in Luna Foundation Guard-linked wallets, burning all USTC in the Oracle rewards pool, and burn LUNC and USTC in wallets no one has access to. The plans were proposed by Lunanauts validator, hoping for potential repeg. Burn it. TFL case is over. LFG doesn't exist. Just burn it. — fragwuerdig | Juris Protocol (@frag_dude) January 12, 2025 Building for Utility on Terra Classic Network Recently, the network was successfully boosted with “ Upgrade to v3.3.0 ” to increase utility on the Terra Luna Classic, removing barriers for developers and dapps wanting to build on the chain. The Terra Luna Classic ecosystem is growing with Terraport, LBUN, Selenium, Garuda DEX, and TerraCasino. Selenium Protocol was created in line with Mirror Protocol, the most important protocol of the Terra chain. Terra Co-Founder Do Kwon’s Criminal Trial Terraform Labs co-founder Do Kwon was finally extradited to the U.S. authorities, but he pled not guilty to a nine-count indictment charging him with securities fraud, wire fraud, commodities fraud and money laundering conspiracy. Do Kwon’s criminal fraud trial will likely not begin until January 2026 as prosecutors work on unlocking encrypted devices and translating communications from Korean into English. LUNC and USTC Prices to Recover LUNC price is down 15% in a week amid the broader crypto market crash, with the price currently trading at $0.0001022. The 24-hour low and high are $0.0001012 and $0.0001046, respectively. As per an analysis, LUNC price is following the altcoin market trend exactly. The price is at the key Fibonacci 0.618 level. Additionally, trading volume remains at the lowest level. These sections do not last long, cause extreme volatility, and usually have a set direction. “In the end, LUNC has no choice but to depend on the movement of Ethereum along with the decline in Bitcoin dominance, and it is very important to support it without major deviations from the current section.” Meanwhile, USTC price climbed nearly 1%, with the price now trading at $0.0185. However, the trading volume saw a 15% decline in the last 24 hours. The price is still down more than 15% in a week. The post 5 Terra Luna Classic Developments, How LUNC Price To Impact? appeared first on CoinGape .

2025-01-12 19:53
Dogecoin Price Analysis: DOGE Open Interest Crosses $3.5B as Trump Inauguration Nears
Dogecoin price continues to consolidate below $0.35 on January 12, as market sentiment hangs in the balance. Derivatives markets data shows DOGE traders reluctant to close out their positions with Trump’s inauguration now 1 week away. Dogecoin price consolidates at $0.35 as traders await further clarity Dogecoin (DOGE) remains under pressure as its price consolidates near $0.33 on January 12. The cryptocurrency’s price action reflects broader market concerns, with events such as FTX liquidations and the potential U.S. government sell-off of Silk Road-related Bitcoin holdings weighing heavily on investor sentiment. Dogecoin Price Action | DOGEUSD DOGE price faced a steep 18% decline between January 5 and January 9, dropping from $0.39 to $0.32 during a period of heightened market sell-offs. However, the meme coin managed a modest 5% rebound, climbing to $0.35 before encountering resistance. At press time, DOGE has slipped back to $0.33, reflecting continued hesitancy among traders to commit to long positions amid prevailing uncertainty. Dogecoin Open Interest Crosses $3.5B as Traders take fresh Positions ahead of Trump Inauguration Despite a period of price consolidation, speculative bets suggest that strategic Dogecoin traders are preparing for potential bullish triggers linked to upcoming events. Confirming this narrative, the Coinglass Open Interest chart below tracks the total value of capital currently invested in unsettled DOGE futures contracts. Dogecoin Open Interest vs. DOGE Price | Source: Coinglass DOGE price has risen by 7% over the past three days, climbing from $0.31 to $0.33. However, the 9.5% increase in Open Interest, from $3.24 billion to $3.55 billion, has significantly outpaced the price movement. This divergence suggests that traders are increasingly placing leveraged bets on potential upside rather than exiting positions despite stagnant price action. Key narratives driving this surge in speculative positions include the newly established the Department of Government Efficiency (D.O.G.E.) initiative and Elon Musk’s continued involvement in Trump’s administration. With Trump’s Inauguration on January 20 now one week away, this 9.5% surge in Open Interest indicates renewed trader enthusiasm, as both long and short positions are being actively built in anticipation of a volatility spike. If these speculative bets align with a bullish market response to Trump’s inauguration, DOGE could experience a breakout from its consolidation zone near $0.35. DOGE Price Forecast: $0.40 Breakout Potential Hinges on Key Indicators With Trump’s inauguration on the horizon, Dogecoin price forecast paints a positive outlook. Technical indicators show DOGE is currently consolidating near $0.34, with traders eying the upper Bollinger Band (BB) at $0.39 as a pivotal resistance level. The BB width suggests reduced volatility, implying that DOGE may be coiling for a breakout. Trading volume at 456.11 million, coupled with a mild recovery in the Bull-Bear Power (BBP) indicator at -0.01235, hints at stabilizing market sentiment after DOGE’s recent plunge and subsequent 7% rebound. Dogecoin price forecast | DOGEUSD A bullish scenario could unfold if DOGE sustains momentum above the Volume Weighted Average Price (VWAP) of $0.3395. This would target the $0.39 resistance and potentially pave the way for a rally toward $0.40. Increased volume and positive BBP movement would validate this breakout, aligning with market optimism surrounding upcoming events. Conversely, a bearish breakdown below $0.33, accompanied by declining volume, could reintroduce selling pressure, potentially retesting the lower BB limit at $0.28. DOGE must hold its current consolidation to avoid a bearish reversal. The post Dogecoin Price Analysis: DOGE Open Interest Crosses $3.5B as Trump Inauguration Nears appeared first on CoinGape .

2025-01-12 17:52
Shiba Inu Struggles to find buyers as $0.0000025 Price Resistance looms ahead
Shiba Inu price experienced a 3% pullback on January 12 as buyers remained hesitant. With market demand flat-lining, can SHIB rebound above $0.000025 ? 3% Pullback Limits SHIB Price Recovery Shiba Inu (SHIB) experienced a 3% decline in the last 24 hours, trading at $0.000021 on January 12, as buyer hesitation and flat market demand weighed heavily on its rebound potential. Despite the broader crypto market showing signs of recovery, recent SHIB price movement suggests that sellers still maintain a firm grip on momentum. Shiba Inu Price Action | SHIBUSDT Between January 5 and January 9, SHIB’s price dropped by 10.4%, sliding from $0.0000235 to $0.000021 during a period marked by widespread market sell-offs. However, following the cooling of bearish pressures across the crypto sector, SHIB has managed to stabilize over the past two days. Despite the recent pullback, it still trades above its January 9 low of $0.0000208. This tentative recovery indicates a possible shift in market sentiment, though the absence of a significant uptick in buying pressure underscores lingering caution among investors. Compared to stronger rebounds in other altcoins , such as SUI and Cardano ( ADA ), SHIB’s upward momentum remains constrained, signaling that crypto traders remain hesitant to lean into memecoins within the current uncertain market phase. New Adoption Rate plunges as SHIB struggles to find buyers Shiba Inu’s latest 3% price reversal hints at an active bearish catalyst. A closer look at recent on-chain activity shows that the Shiba Inu blockchain network has struggled to attract fresh demand, despite mild improvement in the broader crypto market sentiment. IntoTheBlock ’s New Adoption Rate chart below further emphasizes this narrative. This metric, which tracks the percentage of wallet addresses conducting their first-ever transactions on the Shiba Inu blockchain, serves as a critical indicator of new-user acquisition. Shiba Inu New Adoption Rate | Source: On-Chain Data On January 8, Shiba Inu’s New Adoption Rate peaked at 40%, signifying healthy growth in new network participants. However, as bearish sentiment dominated the broader market, this figure began to decline sharply. By January 11, the New Adoption Rate had dropped to just 27.71%, a staggering 12.29% decline in only three days. This decline in SHIB new user transitions reflects that crypto investors remain hesitant to lean into the memecoin sector as market sentiment hangs in the balance. Shiba Inu Price Forecast: Weak volumes could prevent $0.000025 breakout Shiba Inu price prediction reflects indecisiveness, as SHIB trades near $0.00002169, with technical indicators suggesting a balanced outlook. The daily Bollinger Bands (BB) constriction signals reduced volatility, with SHIB testing the middle band ($0.00002232). A sustained move above this level could target $0.00002456, the upper band. However, trading volume remains weak at 799.93 billion, as shown in the volume delta chart, raising concerns about bullish momentum. On the bullish side, a breakout above $0.00002232 could attract fresh buyers, potentially driving SHIB toward $0.00002500. This scenario would require a surge in buying volume and a convincing close above resistance levels. Such a move may coincide with improving market sentiment, further boosting SHIB’s upside potential. Shiba Inu Price Forecast | SHIBUSD Conversely, the bearish outlook hinges on SHIB’s inability to break $0.00002232. A decline below $0.00002009, the lower Bollinger Band, could signal increased selling pressure, potentially revisiting $0.00001853, the December low. Weak trading volume supports this scenario, as diminishing demand threatens to cap short-term gains. The next few sessions are pivotal for SHIB’s directional bias. The post Shiba Inu Struggles to find buyers as $0.0000025 Price Resistance looms ahead appeared first on CoinGape .

2025-01-12 16:32
FTX Repayments: Expert Announces Initial Distribution, First Repayment Dates
Beleaguered crypto exchange FTX has further revealed the schedule for $16 billion in creditor repayments. Experts revealed early February as the expected timeline for the first repayment in accordance with the Plan and Confirmation Order. Also, the bankruptcy reorganization plan aimed to disburse repayments for small creditors first. FTX Repayments To Start in February FTX creditor Sunil Kavuri in an X post on January 12 revealed details of repayments, including the initial distribution schedule and first repayment. According to the plan, the first round of repayments will happen for creditors with claims below $50,000. This makes it a total of approximately $1.2 billion, with January 3 as the record date. FTX has asked creditors to complete pre-distribution requirements for initial distribution by January 20. Creditors are informed to complete W-8Ben forms. Once KYC verified, creditors need to submit a tax withholding form within 30 days. It is important to note that if a creditor fails to submit the tax form before the 60-day deadline, they will not receive repayments. Sunil Kavuri expects the first round of repayments to start in February. Also, the repayments would likely continue until March 4. Check how FTX claims payout would work and the crypto exchanges under the plan to distribute funds to creditors. Meanwhile, creditors have complained about a large number of phishing emails and claim portals claiming to start repayments. Crypto Community Anticipate Boost in Bullish Crypto Market While the FTX Debtor has other issues including inaccuracies in Backpack’s FTX EU acquisition claims . The beleaguered firm said 100% of FTX EU share capital is still owned by FTX Europe AG. The U.S. Bankruptcy Court overseeing the Chapter 11 process has not approved any transfer. Market participants are extremely bullish on FTX repayments giving a much-needed push to the crypto market. expect creditors to put money back into the crypto market as Bitcoin and altcoins to rally under the pro-crypto Trump administration. The post FTX Repayments: Expert Announces Initial Distribution, First Repayment Dates appeared first on CoinGape .

2025-01-12 15:05
Solana Price Flashes $3.1B Bottom Formation Signal: Will Buyers React?
Solana price briefly broke above $190 on January 12, rising 3% as the crypto markets rebound phase advanced further. Recent trading data shows that after double-digit losses last week, current SOL holders are growing reluctant to sell at current prices. Solana bulls sets sights on $200 rebound after volatile week Solana (SOL) briefly broke above $190 on January 12, as the broader crypto market extended its rebound phase. After enduring a steep decline last week, Solana has managed to stabilize, fueled by renewed market optimism. Solana Price Action | SOLUSDT Between January 5 and January 9, SOL price plunged 15.7%, slipping from $220 to $183 during the peak of the market sell-off. However, as selling pressure began to subside, SOL rebounded 3% over the past two days, climbing as high as $193 on January 12. This recovery suggests that market sentiment is slowly turning favorable, though the pace of Solana’s rebound pace appears limited compared to other major altcoins. Solana rivals , including Cardano (ADA), Ripple (XRP), and SUI, have posted significantly larger gains during the same period. This underperformance highlights a looming bearish catalyst limiting SOL price recovery momentum. Solana Trading Volume plunges by $3.1B as sell-fatigue sets in Solana’s underwhelming performance compared to rival altcoins has been particularly notable over the last few days. A closer look at Solana’s trading data reveals a significant drop in SOL market activity in recent weeks, underscoring dwindling investor participation. Santiment’s Trading Volume chart tracks the daily volume of spot market transactions involving SOL, offering real-time insights into shifts in market liquidity and investor interest. On January 8, Solana’s trading volume reached $5.02 billion, highlighting robust market activity. However, as the broader crypto market sell-off took hold, Solana sellers became increasingly reluctant to offload their holdings, contributing to rapidly declining volumes. Solana Trading Volume | Source: Santiment By January 11, Solana’s trading volume had plummeted to just $1.9 billion, marking a sharp $3.1 billion decline in just three days. This represents a staggering 61% drop in trading volume, even as SOL’s price fell by 15% over the same period. Such a disproportionate drop in trading volume relative to price typically signals weakening market participation and suggests that both buyers and sellers are growing cautious. When trading volume plunges faster than price, it often signals that sell-fatigue has set in, with bearish momentum losing steam. While this could pave the way for a price rebound, the lack of liquidity also limits the potential for a sustained rally. For Solana, this dynamic reflects an ongoing tug-of-war between cautious optimism among holders and broader market headwinds dampening its recovery prospects Solana Price Forecast: $250 Breakout Unlikely within Current Dynamics Solana (SOL) price forecast remains cautious, as technical indicators paint a mixed outlook for the near term. SOL is trading at $186.82, well below the $198.65 mid-line of the Keltner Channels (KC). This highlights diminishing bullish momentum, compounded by the Parabolic SAR hovering above price candles, signaling sustained bearish pressure. Solana price forecast | SOLUSDT The Relative Strength Index (RSI) currently sits at 47.55, slightly below the neutral 50-mark. This suggests a lack of strong buying or selling pressure, leaving SOL vulnerable to further downside. The $175.70 lower boundary of the KC serves as immediate support, while a break below this level could trigger a decline toward $170. Conversely, a breach above the $198.65 resistance could reignite bullish optimism, targeting the upper KC limit of $220.76. However, with trading volumes at a subdued 590,000 SOL, market participation remains lackluster, limiting the likelihood of a $250 breakout in the short term. Traders should watch for a surge in volume to confirm any directional breakout. The post Solana Price Flashes $3.1B Bottom Formation Signal: Will Buyers React? appeared first on CoinGape .

2025-01-12 14:38
Ethereum Price Analysis: ETH 2.0 Staking Deposits surge $175M as Traders anticipate $3,500 Rebound
Ethereum (ETH) price rebounded 4% to reach $3,220 on January 12, as the crypto market sell-off subsided. On-chain data shows investors making large deposits into ETH 2.0 staking contracts. Has ETH price formed a market bottom? Ethereum (ETH) Price Gains 4% as Market Sell-off Wanes Ethereum (ETH) experienced a volatile week, reflecting the broader crypto market dynamics. The recent turbulence was fueled by macroeconomic concerns and the ongoing effects of market-wide liquidations triggered earlier this month. ETH price dropped by 10% between January 6 and January 9, falling from $3,150 to $2,835 as investors reacted to heightened uncertainty. The broader crypto sell-off was exacerbated by liquidity concerns, which intensified bearish sentiment across major altcoins. Ethereum Price Action | ETHUSD However, Ethereum found support near the $2,850 mark on January 10, as selling pressure eased and on-chain activity indicated a shift in sentiment. Investors began making significant deposits into ETH 2.0 staking contracts, reflecting renewed confidence in the network’s long-term potential. As of January 12, ETH has rebounded 4%, climbing back to $3,220. This recovery hints at the formation of a local bottom, with traders now closely monitoring key resistance levels and potential catalysts for further upward momentum. Ethereum 2.0 Staking Inflows Surge By $175 Million in 3 Days Ethereum’s rebound above $3,200 has fueled optimism that the cryptocurrency may consolidate within the $3,150–$3,400 range in the near term. On-chain data reveals a considerable surge in Ethereum staking deposits, signaling growing confidence among long-term holders and network validators. According to the official data from the Beacon Chain , ETH staking inflows have seen a sharp uptick over since January 9, coinciding with the 4% price rebound. Ethereum Staking Deposits vs. ETH Price | Source: StakingRewards As of January 9, the total staked value stood at 33.84 million ETH. Despite the broader market downturn that saw ETH dip below $3,200 earlier in the week, staking activity intensified. Over the past three days, investors staked an additional 53,000 ETH—valued at approximately $175 million at current prices— bringing the total staked to 33.89million ETH as of January 12. This development offers two key insights into Ethereum’s short-term outlook. Firstly, increased staking cuts down short-term market supply, easing immediate sell-side pressure. Secondly, the increased staking activity signals a shift in investor behavior. Rather than liquidate holdings during the recent market downturn, a significant cohort of ETH holders opted to lock their assets into staking contracts, leveraging passive rewards as a buffer against short-term price volatility. While the broader crypto market sentiment remains cautious, Ethereum’s rising staking deposits, position the asset for a steady consolidation above the $3,200 mark in the coming days. Etheruem Price Forecast: Bulls Set to Hold $3,200 Support Ethereum price prediction paints an optimistic outlook, with staking deposits mopping up excess market supply from last week’s sell-off. From a technical standpoint, ETH is currently trading $3,271, consolidating near its lower Bollinger Band of $3,116, which offers immediate support. Ethereum price forecast (ETHUSD) The Bollinger Bands indicate low volatility as they tighten, signaling a potential breakout ahead, if market sentiment flips positive. However, trading volume remains subdued at 27.72K, and the ADX trending at 20.77, market sentiment remains largely cautious. In essence, weak breakout attempts may struggle to breach the $3,300 resistance. A bullish scenario could materialize if ETH reclaims the $3,419 midline of the Bollinger Bands, with increased volume supporting the uptrend. Conversely, failure to hold $3,200 may see ETH test the critical $3,116 support level. The post Ethereum Price Analysis: ETH 2.0 Staking Deposits surge $175M as Traders anticipate $3,500 Rebound appeared first on CoinGape .

2025-01-12 11:24
Here’s Why XRP Price Is Skyrocketing? Peter Brandt’s Bullish Prediction
XRP price starts its next rally wave, skyrocketing more than 10% in the last 24 hours. Analysts noted multiple patterns including symmetrical triangle pattern’s breakout to predict a massive momentum and a bullish price target. Here are the reasons supporting the imminent upside move in the coming days. At present, XRP price is trading above $2.50 supported by a 75% rise in trading volume. The 24-hour low and high are $2.34 and $2.60, respectively. XRP Price Technical Charts Breakout Veteran trader Peter Brandt’s $500 billion market cap prediction for XRP sparked significant market buzz last week. He highlighted that XRP bull flag breakout will technically confirm a significant increase in market cap in 2025. The breakout in XRP price chart has happened. In an X post on January 12, he shared the XRP price chart depicting a clear bull flag pattern breakout in the daily timeframe. “Leader of the pack XRP,” he commented to point out a bullish momentum crypto asset will likely witness in 2025. Source: Peter Brandt Peter Brandt’s XRP price prediction signals an easy move above $3 this time. He gave a short-term price target of $3.4 as the community anticipates several good news for Ripple and XRP this year. CoinGape’s analysis for XRP price reveals the asset is facing resistance at $2.60. It needs to break above the resistance level and previous $2.90 high for a strong move above $3. Bollinger bands indicate potential for a massive upside with XRP price moving near upper band. Moreover, RSI at 60 signals significant room for uptrend, supporting the breakout. High Whales and Traders’ Activity Popular crypto analyst Ali Martinez revealed a lot of traders shorting XRP at $2.60. This has created a substantial liquidation zone that market makers may try to grab. XRP Heatmap. Source: Ali Charts Notable whale activity was recorded in the lat 24 hours. Whale Alert reported 24,000,00 XRP worth over $60 million transferred from Upbit to a wallet. Recently, a 300 million XRP moved from Ripple to an unknown wallet has also made significant buzz. XRP ETF and Improving Regulatory Conditions for Ripple Ripple CEO Brad Garlinghouse disclosed major developments in the US by the company in last six months, including approval for RLUSD stablecoin launch. He believes the incoming Trump administration to further elevate business development opportunities for the company in the United States. Meanwhile, experts such as ETF Store president Nate Geraci have predicted high odds for XRP ETF approval this year. Financial giants like Bank of America’s integration of XRP for internal transactions signals mainstream adoption for the crypto asset. Lawyers including ex-SEC Marc Fagel and Jeremy Hogan believe incoming US SEC Chair Paul Atkins may decide not to pursue appeal in XRP lawsuit. The Ripple vs SEC case end is near amid executives attending dinner with President-elect Donald Trump. The post Here’s Why XRP Price Is Skyrocketing? Peter Brandt’s Bullish Prediction appeared first on CoinGape .

2025-01-12 10:44
Fartcoin Vs Pippin: Where To Invest Before January Ends?
January begins with investors eyeing two prominent meme coins, Fartcoin and Pippin. As the tokens gained new traction, their performance increased, increasing their demand even further. Let’s analyze the Fartcoin Vs Pippin price performance and where investors should invest in before January ends. Fartcoin Vs Pippin: Analyzing Their Price Performance Since its launch in October 2024, Fartcoin’s price has grown by 1580754.15%, showing an impressive performance on the chart. Although the meme coin had a slow start, it hit its prime at the beginning of January 2025, creating an ATH of $1.60 regardless of the market’s declining conditions. However, it currently traded at only $0.7913 after a 50% drop from the peak with $791M in market capitalization. There’s a significant drop in demand as the 24-hour trading volume has declined 40% to $98.81M. This is the result of the continuous downtrend, reducing the buyer’s activity as investors flock to utility-based tokens amid a consolidating market. On the other hand, Pippin is in its price right now, creating an ATH of $0.3269 just a few hours ago with increasing investor interest. According to Coingecko data , the Pippin price has surged 1453% in the last week and 3692% over the week, currently trading at $0.226. It also has $252M in market capitalization and $134M in trading volume, indicating a high demand for the token in the market. However, it could face consolidation next, with the RSI presenting overbuying zone. Where To Investment Before January Ends? Both meme coins have witnessed new highs in the last few days. One trader made $2.5M with Pippin , whereas many earned with the other. Interestingly, with a similar total supply and market background, Fartcoin is ahead in overall performance, but investors’ bullish sentiments are higher for Pippin per CoinmarketCap’s community sentiments. Considering the rising demand for AI cryptos and the market favoring AI in the cryptocurrency trend 2025 , Pippins gets ahead in the Fartcoin vs. Pippin battle for the short-term objective. However, Fartcoin is not much behind and presents a potential for trend reversal and recovery. A strategic trade with deep research and analysis could make significant returns for investors in both meme coins. What To Remember From This Fartcoin Vs Pippin Analysis? 2025 has favored two less-known cryptocurrencies, Fartcoin and Pippin, as their demand has grown in the last few days. The former achieved a peak at the beginning of the month and is in a downtrend today, but the other achieved a peak a few hours ago. However, consolidation could follow as the technical indicators indicate overbuying. Overall, both tokens show profit potential for January. This is not a Pippin price prediction or investment advice but an analysis of current performance. Investors should do their own research and technical analysis before investing in any cryptocurrency, as a market trend and community sentiments fluctuate often, leading to price fluctuations. The post Fartcoin Vs Pippin: Where To Invest Before January Ends? appeared first on CoinGape .

2025-01-12 06:31
US CPI Inflation & PPI Data In Focus; Will It Impact BTC & Altcoins Rally?
The financial market has gone through a topsy-turvy scenario lately, with soaring macroeconomic concerns weighing on the investors’ sentiment. Notably, recent economic indicators like the US Job data and Fed officials’ hawkish remarks have fueled concerns among traders. Having said that, investors now eagerly await the US CPI inflation and PPI data, which is scheduled to be released later this week. Besides, it also fueled speculations about how these indicators might impact the BTC and altcoins’ performance ahead. Crypto Market Awaits US CPI Inflation Data The crypto market eagerly awaits the US CPI inflation data now, scheduled for Wednesday, January 15, for cues on the current economic health. Notably, recent indicators like the robust US Job data have fueled investors’ concern recently. According to the latest Labor Department data, the US has added 256,000 jobs in December, exceeding the market forecast of 160,000. Besides, the unemployment rate also plunged to 4.1% from 4.2% in the prior month. This robust US Job market data further cemented bets over a potential hawkish move by the Federal Reserve ahead. Notably, it appears that the central might stick to its tightened monetary policy and the market may have to wait till June for the first Fed rate cut this year. What To Expect From US CPI? The US CPI inflation is one of the key focuses of the financial market this week, let alone the crypto space. According to market estimates, the Consumer Price Index is expected to remain unchanged at 0.3%, while the YoY CPI is likely to come in at 2.9%, up from the previous month’s figure of 2.7%. On the other hand, the Core CPI, which excludes food and energy prices, is expected to cool at 0.2% from the 0.3% figure noted last month. Simultaneously, the Core CPI on a year-over-year basis is expected to remain unchanged at 3.3%. This indicates that the market is already bracing for hot inflation data this week. However, if the data comes in more than the expectations, it could further dampen the investors’ sentiment and potentially impact BTC and altcoins’ performances. In other words, the hotter-than-anticipated figures might give more space to the investors to move with their hawkish plans ahead. US PPI Inflation Also In Cards Apart from the US CPI inflation data, the market watchers also eagerly await the upcoming US PPI data . The Producer Price Index (PPI) data is scheduled for Tuesday, January 14. It is another key metric considered by the Fed to gauge the inflationary pressure in the market. If this data also comes in hotter-than-expected, the central bank might move ahead with the higher interest to tackle the inflation. Besides, it could significantly impact the traders’ sentiment and weigh on the crypto market’s performance. What’s Next For BTC & Altcoins? Bitcoin and the top altcoins have recorded volatile trading, especially after Fed Chair Jerome Powell indicated only two rate cuts through 2025 last month. Previously, the market was betting over four rate cuts this year. In addition, the recent remarks from the Fed officials have further dampened the market sentiment. Notably, the officials said that the central bank would closely monitor the economic data and other factors before deciding on lowering the interest rates. Having said that, the upcoming US CPI inflation and PPI data will be closely watched by the market participants. Having said that, the broader crypto market may face volatile trading in the coming days, if the US Federal Reserve decides to move ahead with a hawkish plan. However, despite the short-term concerns, several market watchers remained confident about the long-term trajectory of the digital assets space. The post US CPI Inflation & PPI Data In Focus; Will It Impact BTC & Altcoins Rally? appeared first on CoinGape .

2025-01-12 04:30

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