Familiar support zones are back on the radar after $25,000 proves too much for Bitcoin bulls.
Risk assets surge higher after U.S. inflation data, but belief in a sustained uptrend emerging is hardly anywhere to be seen.
After Aug. 10’s neutral CPI print, Bitcoin and altcoins are attempting to flip stiff overhead resistance levels to support in order to prepare for the next leg up.
Lower than expected inflation data sparks an instant rally in crypto, while the U.S. dollar pays the price.
One Twitter user claimed that they are at “war” with the shorts while encouraging others to post more content about the short squeeze.
Traders tuck their tails as this week’s CPI print approaches and BTC and ETH price fall back into range to test underlying support.
BTC currently makes up 41% of the total crypto market cap — its smallest market share since January.
A non-difficulty bomb ETHW chain could grab 2%-10% of Ethereum's market capitalization, crypto hedge fund manager says.