24 Hrs Crypto Update, 12 July: BTC holds at $30,000, ETH below $1,900
- Despite positive CPI data, Bitcoin stays below $30,500. US government's transfer of $300M Silk Road Bitcoin in 3 transactions may have caused volatility
- In the past 24 hours, popular cryptocurrencies such as BTC, BNB, ETH, and XLM have experienced a consistent downward price trend, indicating a negative trajectory
Majority of the top crypto were trading lower on Thursday.
| Indices | LTP | Change (%) |
|---|---|---|
| BITCOIN | $30318 | 0.60% |
| ETHEREUM | $1870 | 0.53% |
| Indices | VALUE | Change (%) |
|---|---|---|
| MARKET CAP | $1.22 T | 0.90% |
| TRADING VOLUME | $39.30 B | 50.19% |
| Indices | LTP | Change (%) |
|---|---|---|
| SmartCash | $0.040 | 216.71% |
| FutureCoin | $6.52 | 161.81% |
| Paribus | $0.10 | 52.49% |
| Realm | $0.19 | 46.67% |
| Hextor Network | 228.41 | 46.42% |
| Indices | LTP | Change (%) |
|---|---|---|
| Torum | $0.022 | 98.35% |
| CluCoin | $0.00000012 | 66.26% |
| Internxt | $4.90 | 64.16% |
| Augur | $74.31 | 61.98% |
| GazeTV | $0.0063 | 59.12% |
Major Events Around the World
The US Bureau of Labor Statistics reports June CPI inflation at 3%, slightly below expectations. Core CPI at 4.8%, lowest since Nov 2021. The Fed may adopt accommodative policy due to this shift. Stock and crypto markets expected to benefit. JPMorgan analysts foresee lower inflation, prompting a dovish outlook. Wall Street giants predict significant CPI decline. Bloomberg, Citi, HSBC, UBS, Nomura expect 3%; Goldman Sachs, BMO, Barclays, Morgan Stanley, TD Securities, CIBC estimate 3.1%; JPMorgan, RBC, Visa forecast 3.2% CPI.
Billionaire Elon Musk stated on Wednesday that artificial general intelligence (AGI) would be the ultimate milestone after five years in the AI field. He emphasized the crucial necessity for regulation and oversight in the realm of artificial intelligence (AI), highlighting that AGI development is a pivotal moment in human history. Musk confidently asserted that a positive AGI future would eliminate scarcity of goods and services. Additionally, he discussed China's eagerness to collaborate with international organizations to foster positive advancements in AI regulation, contrary to common beliefs.
Google, the renowned American tech giant, has recently implemented a noteworthy modification to its mobile software marketplace policy. This alteration aims to cater to a larger community of Web3.0 developers who are eager to engage in the purchase, sale, or acquisition of digital assets on the Play Store. In essence, developers will now have the opportunity to seamlessly integrate digital assets, including Non-fungible tokens (NFTs), into their applications and games. However, it is imperative for these developers to explicitly disclose the presence of blockchain-based elements within their apps through the Play Console.
COIN GABBAR Views: How does the US inflation and jobs data affect the crypto market, specifically Bitcoin's price? What has been the recent development in the crypto market? Does the current consolidation phase introduce uncertainty regarding market sentiment, leaving us uncertain about the conclusion of the sell-off or the potential for a rebound by the bulls? Stay tuned for the latest news at www.coingabbar.com
Also read: Microsoft Gets Approval to Buy Activision Blizzard from US Court
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
