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Bitcoin and most major altcoins are selling-off on rallies, proof that investor sentiment remains negative in the short-term. The United States stock markets are trying to recover on reports that the debt ceiling talks are showing promise and a debt default may be avoided. However, the same enthusiasm is not seen in the cryptocurrency markets. Bitcoin (BTC) has slipped back below the $27,000 support on May 17, indicating that buyers are struggling to sustain the relief rallies. Institutional investors seem to be booking profits due to the macro uncertainty. CoinShares’ Digital Asset Fund Flows Report shows a total outflow of $200 million from digital asset investment products in four consecutive weeks. Daily cryptocurrency market performance. Source: Coin360 While the short-term picture remains negative, the chart structure on Bitcoin has not been broken. Bitcoin has corrected about 15% from its local high of $31,000 made on April 14 but it remains above $25,000, indicating that the w...

Inflation in the U.S. is cooling down as Thursday’s CPI report shows a drop to 6.5% in December from 7.1% in November 2022. The Feds’ hawkish interest rate hikes seem to be working but remain a long way to reach the normal rate of 2%. According to reports, the Federal Reserve could hike interest rates yet again in 2023 to tame the inflation numbers. The crypto markets reacted positively to the CPI data as leading tokens are on the greener side of the spectrum. In this article, we will highlight the top 3 crypto s to watch out for after the latest CPI data. Also Read: Bitcoin Sees its Longest Rally Since 2020 as Inflation Numbers Decrease BREAKING: 🇺🇸 US inflation falls to 6.5%. — Watcher.Guru (@WatcherGuru) January 12, 2023 1. Bitcoin (BTC) Source: Twitter Bitcoin jumped from $17,912 to $18,989 in less than 24 hours after the CPI data was released. BTC is looking to breach $19,000 and could climb above $20,000 if the markets continue to...