NFT News Today TheBittimes.com

The two founders behind a leading blockchain data firm are diving into what has fueled Bitcoin’s (BTC) most recent venture past $100,000. According to Glassnode co-founders Jan Happel and Yann Allemann, inflation data sparked this week’s BTC rally to over $100,000. “With inflation data meeting expectations, Bitcoin has surged back above $100,000! Next steps: Flip $102,000 into support, breaking the price compression below this zone. A loss of $100,000 could lead to a retest of the $97,200–$98,500 support, aligning with the lower end of the ascending channel. A daily close above $102,000 sets sights on $104,000, and eventually, the upper channel at $108,000. Will Bitcoin breakthrough pull back?” Source: Negentropic/X BTC is trading for $101,604 at time of writing, up 7% in the last two weeks. Moving on to top Ethereum rival Solana (SOL), Happel and Allemann say that SOL is eyeing a major rally as well. “SOL Eyes a Breakout...

Bitcoin surged almost 3% following the release of US inflation data, signaling optimism for a soft landing in the economy and bolstering bets on a Federal Reserve rate cut this month. The latest US Consumer Price Index (CPI) data aligned with economists’ expectations, while core inflation slightly exceeded projections. That left analysts anticipating a 25 basis point rate cut in September rather than a more aggressive 50 basis points reduction. Bitcoin Rebounds From $55K To Reclaim $57K Support In response, Bitcoin surged more than 3.1% in the past 24 hours to trade at $58,283 as of 4.33 a.m. EST, while the broader crypto market saw its market capitalization climb 2.6% to $2.05 trillion. The first higher than expectation for Core CPI in 5 months. Last time it happened, $BTC had a big dip from 70k+ to 60k. Not sure how will it impact the market this time. With this core CPI data, high chance FED will only cut 25bps on Sep 18. Currently FED is fighting the 2 wars:… pi...