• Market Cap: $3,366,371,292,789.28
  • 24h Vol: $78,384,554,160.36
  • BTC Dominance: 61.71%
XBT.Market
Advertisement
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us
No Result
View All Result
XBT.Market
No Result
View All Result
Home Bitcoin

US inflation data will be ‘messy’ — 5 things to know in Bitcoin this week

Jon Hartney by Jon Hartney
July 11, 2022
in Bitcoin, Blockchain, Business, Market
0
US inflation data will be ‘messy’ — 5 things to know in Bitcoin this week
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

A potent combination of CPI figures and more make for a problematic week as Bitcoin price struggles.

Bitcoin (BTC) starts another week in a precarious position near $20,000 ahead of fresh macro upheaval.

After admittedly sealing its best week’s gains since March, the largest cryptocurrency is struggling to hold onto its recently-reclaimed levels.

Related articles

Why Bitcoin Price Continues To Rise Despite Soaring Treasury Yields  — Analyst

Why Bitcoin Price Continues To Rise Despite Soaring Treasury Yields  — Analyst

June 14, 2025
Bitcoin must upgrade or fall victim to quantum computing in 5 years

Bitcoin must upgrade or fall victim to quantum computing in 5 years

June 14, 2025

Major resistance zones remain overhead, and with inflation data due for release later in the week, the coming days could prove unnerving for risk-assets everywhere.

At the same time, crypto market sentiment is showing signs of recovery, and on-chain metrics continue to underscore what should be Bitcoin’s latest macro price bottom. 

With conflicting data everywhere, Cointelegraph takes a deeper look at potential market moving factors for the week ahead.

200-week moving average causes headaches

At around $20,850, the June 10 weekly close was hardly anything special for BTC/USD, but the pair still managed its best seven days’ growth in several months.

Ending Sunday a full $1,600 higher than its position at the start of the week, Bitcoin thus sealed progress not seen since March.

The success did not last, however, as the hours following the weekly close turned negative. At the time of writing, BTC/USD was targeting $20,400, data from Cointelegraph Markets Pro and TradingView showed.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Bitcoin’s ability to hold current levels could be key in deciding the mood this Summer, as relief on global equities would provide an opportunity for crypto to erase some of its losses from recent months.

Commentators including trading suite Decentrader thus eyed the weekly chart with interest.

Weekly look on $BTC futures. Current candle is set to close on a bullish engulfing bar above the Moonraker and weekly vwap. Momentum is turning up as well. If stocks continue to turn up and have a summer rally $BTC and crypto should likely follow. https://t.co/tlkrnTsG33

— Decentrader (@decentrader) July 10, 2022

Others were less enthusiastic, noting that BTC/USD had still performed another close below the essential 200-week moving average (WMA) at around $22,500.

In previous bear markets, the 200 WMA acted as a general support level, with Bitcoin wicking below it briefly to put in macro bottoms. This time, however, appears to be different, as $22,500 has been absent from the chart for a month.

#BTC weekly candle has rallied +15% but is still holding resistance under the 200MA for 3 weeks.

Lower time frames are a bit more bullish, indicators are cooling off but markets remain fearful.

Will #Bitcoin break back above the weekly 200MA before the weekly close? pic.twitter.com/NZXbxK8Oi2

— Steve Courtney ~ Crypto Crew University (@CryptoCrewU) July 8, 2022

Zooming out, meanwhile, popular trader TechDev advocated a more optimistic outlook for the rest of 2022.

By the end of the year, he argued at the weekend, a reclaim of further important WMAs should result in Bitcoin ending its “reaccumulation phase” altogether.

“BTC flipping 32-35K likely confirms end of reaccumulation and this year+ correction,” TechDev told Twitter followers.

“Most probable to occur imo once both 100W and 50W EMAs are in this range. 100W currently at 34.8K and 50W at 37.2K.”

Elsewhere, continued asset liquidation from embattled crypto lending platform Celsius added to selling pressure.

Celsius continues to send its remaining cryptoassets to exchanges. Few hours ago, 2,000 wBTC was transferred from the main wallet, and after a series of hops eventually hit Coinbase and Binance.

Remaining key assets:
410k stETH ($479mm)
16k wBTC ($342mm) pic.twitter.com/ae6viYL1Jk

— light (@lightcrypto) July 10, 2022

Relentless dollar is back as Asia markets dip

Asian stocks trended down on July 11 as the start to the macro week was clouded by news of social unrest in China.

As protesters demanded the release of frozen funds amid a scandal involving both banking officials and local authorities accused of abusing COVID-19 tracking apps, markets felt the strain.

At the time of writing, the Shanghai Composite Index traded down 1.5%, while Hong Kong’s Hang Seng was 3.1% lower.

Europe fared somewhat better with modest growth for the FTSE 100 and Germany’s DAX, with the United States still to open.

Prior to Wall Street returning, however, the U.S. dollar index (DXY) was already making fresh strides higher, cancelling out a retracement which had provided a cooler end to last week.

DXY was at 107.4 on July 11, just 0.4 points off twenty-year highs seen days prior.

Analyzing the situation, one analyst at trading firm The Rock described DXY as “about as extreme as it gets” in terms of year-to-date growth.

“Based on the extreme rally so far this year, the DXY is now up 16% year on year,” he wrote.

“This is about as extreme as it gets historically speaking and, unfortunately, it typically coincides with major financial stress in markets, a recession, or both.”

Bitcoin managed to buck its traditional inverse correlation to DXY last week, climbing in tandem with the index.

U.S. dollar index (DXY) 1-day candle chart. Source: TradingView

Inflation tipped to provide “messy week”

If that weren’t enough, the age-old topic of inflation is apt to provide a further test of market resilience this week.

The U.S. Consumer Price Index (CPI) readout for June is due July 13, and expectations are for the monthly figure to be even higher year-on-year.

The higher inflation, and the more it diverges from those already high expectations, the more risk assets tend to react in anticipation of a reaction from policymakers.

For macro analyst Alex Krueger, the likely trajectory for this week is thus clear.

“Going to be messy,” he summarized on Twitter.

Themes this week

#1 CPI Inflation. Consensus is higher: 8.8% yoy, 1.1% mom. My view: comes in even higher, large dip gets bought.

#2 Earnings. Mostly financials this week. Should be OK.

#3 European gas crisis. Exerts downwards pressure on risk and the euro.

Going to be messy. https://t.co/LCmt2GRcHl

— Alex Krüger (@krugermacro) July 10, 2022

CPI, while stripping out many of the leading inflation indicators, even caught the attention of mainstream commentators over the weekend in a grim hint that this week’s figures could put the cat among the pigeons.

“As next week’s US CPI inflation print may get very close to 9%, some will be quick to point out that this measure is backward-looking,” economist Mohamed El-Erian reacted.

“Yes…but it Captures the pain that many are feeling, particularly the less fortunate segments of society; and Influences inflation expectations.”

Any knee-jerk reaction meanwhile could definitively spook Bitcoin markets in line with other risk assets, or at least spark major volatility, as seen during previous CPI events.

MACD hints at price bottom in progress

With multiple Bitcoin price metrics either flashing “bottom” or even hitting all-time lows, the space is not short of signals suggesting a BTC investment at current prices has a historically unrivaled risk/reward ratio.

This week, the latest metric to join the herd is the moving average convergence/divergence (MACD) on the weekly chart.

MACD effectively tracks a chart trend already playing out. It involving subtracting the 26-period exponential moving average (EMA) from the 12-period EMA.

When the resulting value is below zero, Bitcoin tends to be in a bottoming scenario, meaning that the recent trip to $17,600 could be so too should historical norms repeat.

A #Bitcoin capitulation of price, when the weekly MACD is below the zero-line, has always marked the bottom. pic.twitter.com/5U1Q13Ybju

— dave the wave (@davthewave) July 10, 2022

Commentator Matthew Hyland meanwhile noted a similar MACD structure still playing out on the 3-day chart.

“3-Day MACD is still on a bullish cross,” market analyst Kevin Svenson added.

“Despite the pullback, I remain bullish here for the medium term.”

As Cointelegraph reported, Bitcoin’s relative strength index (RSI) is already at its most “oversold” levels in history.

Last week, meanwhile, one trader called July 15 as the key date by which another chart feature will call the bottom, this one composed of two separate MAs.

2-month highs for Crypto Fear & Greed Index

As a modest silver lining, the average crypto investor is slowly getting their confidence back, the latest data suggests.

Related: Top 5 cryptocurrencies to watch this week: BTC, UNI, ICP, AAVE, QNT

Building on previous strength, crypto market sentiment hit its highest levels since early May over the weekend, and is now at 22/100.

While still in “extreme fear” territory, the Crypto Fear & Greed Index’s renaissance provides a clear contrast to the events of the past two months, during which it dipped as low as 8/100 — below even some previous bear market bottoms.

Crypto Fear & Greed Index (screenshot). Source: Alternative.me

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Read Entire Article
Tags: CointelegraphCryptocurrencyInvestmentMining Bitcoin
Share76Tweet47

Related Posts

Why Bitcoin Price Continues To Rise Despite Soaring Treasury Yields  — Analyst

Why Bitcoin Price Continues To Rise Despite Soaring Treasury Yields  — Analyst

by Jon Hartney
June 14, 2025
0

Over the past few weeks, the Bitcoin price has maintained a somewhat healthy momentum, forging minor swing highs and lows...

Bitcoin must upgrade or fall victim to quantum computing in 5 years

Bitcoin must upgrade or fall victim to quantum computing in 5 years

by Jon Hartney
June 14, 2025
0

Unless Bitcoin upgrades its core cryptography in the next five years, the

Best Altcoins to Mimic Trump’s $57.3M Crypto Income – Price Jumps, Staking, and Other Rewards

Best Altcoins to Mimic Trump’s $57.3M Crypto Income – Price Jumps, Staking, and Other Rewards

by Jon Hartney
June 14, 2025
0

Donald Trump has disclosed an income of $573M from World Liberty Financial tokens The president filed his public financial disclosure...

Whales Dump Over 270 Million Cardano In One Week – Bearish Signal Or Shakeout?

Whales Dump Over 270 Million Cardano In One Week – Bearish Signal Or Shakeout?

by Jon Hartney
June 14, 2025
0

Cardano (ADA) is currently consolidating near a critical support zone that could shape the direction of its price action in...

Is Bitcoin price going to crash again?

Is Bitcoin price going to crash again?

by Jon Hartney
June 14, 2025
0

Bitcoin's bearish divergence signals a possible price crash toward $85,000,

Load More
  • Trending
  • Comments
  • Latest
SUI Price Hits All-Time High – But Questions About Valuation Remain

SUI Price Hits All-Time High – But Questions About Valuation Remain

October 17, 2024
Solana Targets $160 Resistance As TVL Hits New Yearly Highs

Solana Targets $160 Resistance As TVL Hits New Yearly Highs

October 17, 2024
Bitcoin Price Holds Firm: Can It Power Toward New Gains?

Bitcoin Price Holds Firm: Can It Power Toward New Gains?

October 17, 2024
Dogecoin Holder Base Falls To 6-Month Low, But Analyst Believes DOGE Price Is Headed To $10

Dogecoin Holder Base Falls To 6-Month Low, But Analyst Believes DOGE Price Is Headed To $10

October 17, 2024
All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

0
Crypto owners banned from working on US Government crypto policies

Crypto owners banned from working on US Government crypto policies

0
Korean startup Uprise lost $20M shorting LUNC

Korean startup Uprise lost $20M shorting LUNC

0
Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

0
Why Bitcoin Price Continues To Rise Despite Soaring Treasury Yields  — Analyst

Why Bitcoin Price Continues To Rise Despite Soaring Treasury Yields  — Analyst

June 14, 2025
Bitcoin must upgrade or fall victim to quantum computing in 5 years

Bitcoin must upgrade or fall victim to quantum computing in 5 years

June 14, 2025
Best Altcoins to Mimic Trump’s $57.3M Crypto Income – Price Jumps, Staking, and Other Rewards

Best Altcoins to Mimic Trump’s $57.3M Crypto Income – Price Jumps, Staking, and Other Rewards

June 14, 2025
Whales Dump Over 270 Million Cardano In One Week – Bearish Signal Or Shakeout?

Whales Dump Over 270 Million Cardano In One Week – Bearish Signal Or Shakeout?

June 14, 2025

XBT.Market

This website is an automated news feed powered by the Nebulome cloud system. The site is made possible by YYC TECH Consulting and Alberta Digital Mining Company. As a team with major crypto and bitcoin enthusiasm, we have curated major sources of news, trading and financial data to bring you, our viewer, an unbiased source of truth.

Recent Posts

  • Why Bitcoin Price Continues To Rise Despite Soaring Treasury Yields  — Analyst June 14, 2025
  • Bitcoin must upgrade or fall victim to quantum computing in 5 years June 14, 2025
  • Best Altcoins to Mimic Trump’s $57.3M Crypto Income – Price Jumps, Staking, and Other Rewards June 14, 2025
  • Whales Dump Over 270 Million Cardano In One Week – Bearish Signal Or Shakeout? June 14, 2025
  • Is Bitcoin price going to crash again? June 14, 2025

News Categories

  • Bitcoin
  • Blockchain
  • Business
  • Market

Tags

bitcoinMagzine Cointelegraph Cryptocurrency insidebitcoins Investment Mining Bitcoin NewsBTC

Quicklinks

  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market - Powered by YYC Tech Consulting & ADMCO.

No Result
View All Result
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market by Nebulome.

  • Steakhouse EURCV Morpho VaultSteakhouse EURCV Morpho Vault(STEAKEURCV)$0.000000-100.00%
  • FibSwap DEXFibSwap DEX(FIBO)$0.0084659.90%
  • TruFin Staked APTTruFin Staked APT(TRUAPT)$8.020.00%
  • bitcoinBitcoin(BTC)$84,372.003.58%
  • ethereumEthereum(ETH)$1,885.365.68%
  • tetherTether(USDT)$1.000.00%
  • rippleXRP(XRP)$2.186.84%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • binancecoinBNB(BNB)$617.995.03%
  • Wrapped SOLWrapped SOL(SOL)$143.66-2.32%
  • solanaSolana(SOL)$128.974.23%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.1736117.78%
  • cardanoCardano(ADA)$0.687.61%
  • tronTRON(TRX)$0.2342340.79%
  • staked-etherLido Staked Ether(STETH)$1,884.065.48%
  • Gaj FinanceGaj Finance(GAJ)$0.0059271.46%
  • Content BitcoinContent Bitcoin(CTB)$24.482.55%
  • USD OneUSD One(USD1)$1.000.11%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$84,309.003.84%
  • ToncoinToncoin(TON)$4.157.66%
  • UGOLD Inc.UGOLD Inc.(UGOLD)$3,042.460.08%
  • ParkcoinParkcoin(KPK)$1.101.76%
  • chainlinkChainlink(LINK)$14.027.76%
  • leo-tokenLEO Token(LEO)$9.211.17%
  • stellarStellar(XLM)$0.2743585.70%
  • avalanche-2Avalanche(AVAX)$19.647.71%
  • Wrapped stETHWrapped stETH(WSTETH)$2,256.395.40%
  • USDSUSDS(USDS)$1.00-0.01%
  • SuiSui(SUI)$2.429.03%
  • shiba-inuShiba Inu(SHIB)$0.0000137.71%
  • hedera-hashgraphHedera(HBAR)$0.17284810.00%
  • Yay StakeStone EtherYay StakeStone Ether(YAYSTONE)$2,671.07-2.84%
  • polkadotPolkadot(DOT)$4.257.34%
  • litecoinLitecoin(LTC)$85.265.04%
  • bitcoin-cashBitcoin Cash(BCH)$314.248.23%
  • mantra-daoMANTRA(OM)$6.301.94%
  • Pundi AIFXPundi AIFX(PUNDIAI)$16.000.00%
  • PengPeng(PENG)$0.60-13.59%
  • Bitget TokenBitget Token(BGB)$4.664.95%
  • wethWETH(WETH)$1,884.285.66%
  • Ethena USDeEthena USDe(USDE)$1.00-0.04%
  • Binance Bridged USDT (BNB Smart Chain)Binance Bridged USDT (BNB Smart Chain)(BSC-USD)$1.00-0.18%
  • MurasakiMurasaki(MURA)$4.23-13.71%
  • Black PhoenixBlack Phoenix(BPX)$3.351,000.00%
  • Pi NetworkPi Network(PI)$0.714.53%
  • HyperliquidHyperliquid(HYPE)$13.729.80%
  • Wrapped eETHWrapped eETH(WEETH)$2,003.675.53%
  • WhiteBIT CoinWhiteBIT Coin(WBT)$28.350.76%
  • moneroMonero(XMR)$217.841.31%
  • Zypto TokenZypto Token(ZYPTO)$0.037139-3.47%
  • uniswapUniswap(UNI)$6.217.66%
  • AptosAptos(APT)$5.395.79%
  • PepePepe(PEPE)$0.00000811.37%
  • daiDai(DAI)$1.00-0.01%
  • nearNEAR Protocol(NEAR)$2.635.26%
  • XT.comXT.com(XT)$3.08-1.65%
  • Layer One XLayer One X(L1X)$23.35454.66%
  • sUSDSsUSDS(SUSDS)$1.050.05%
  • okbOKB(OKB)$48.762.12%
  • gatechain-tokenGate(GT)$22.883.58%
  • crypto-com-chainCronos(CRO)$0.1015853.46%
  • Coinbase Wrapped BTCCoinbase Wrapped BTC(CBBTC)$84,342.003.68%
  • MantleMantle(MNT)$0.814.44%
  • Tokenize XchangeTokenize Xchange(TKX)$33.460.86%
  • internet-computerInternet Computer(ICP)$5.517.85%
  • ethereum-classicEthereum Classic(ETC)$17.074.81%
  • OndoOndo(ONDO)$0.817.47%
  • First Digital USDFirst Digital USD(FDUSD)$1.00-0.12%
  • aaveAave(AAVE)$168.6110.19%
  • Aerarium FiAerarium Fi(AERA)$7.14-13.11%
  • Ethena Staked USDeEthena Staked USDe(SUSDE)$1.170.30%
  • BSCEXBSCEX(BSCX)$237.310.49%
  • Official TrumpOfficial Trump(TRUMP)$10.354.36%
  • vechainVeChain(VET)$0.0233636.04%
  • cosmosCosmos Hub(ATOM)$4.538.09%
  • fantomFantom(FTM)$0.70-1.56%
  • BittensorBittensor(TAO)$231.277.72%
  • BlackRock USD Institutional Digital Liquidity FundBlackRock USD Institutional Digital Liquidity Fund(BUIDL)$1.000.00%
  • EthenaEthena(ENA)$0.3616194.37%
  • render-tokenRender(RENDER)$3.6710.91%
  • filecoinFilecoin(FIL)$2.927.72%
  • CelestiaCelestia(TIA)$3.181.75%
  • Black AgnusBlack Agnus(FTW)$0.000183423.46%
  • Lombard Staked BTCLombard Staked BTC(LBTC)$84,465.004.02%
  • POL (ex-MATIC)POL (ex-MATIC)(POL)$0.2063993.13%
  • KaspaKaspa(KAS)$0.0682239.38%
  • STAUSTAU(STAU)$0.17397910.95%
  • FasttokenFasttoken(FTN)$4.020.01%
  • Sonic (prev. FTM)Sonic (prev. FTM)(S)$0.5212.98%
  • algorandAlgorand(ALGO)$0.1896979.65%
  • ORA CoinORA Coin(ORA)$4.885.92%
  • ArbitrumArbitrum(ARB)$0.3397526.22%
  • Arbitrum Bridged USDT (Arbitrum)Arbitrum Bridged USDT (Arbitrum)(USDT)$1.000.07%
  • GGTKNGGTKN(GGTKN)$0.1121180.75%
  • kucoin-sharesKuCoin(KCS)$11.231.19%
  • Solv Protocol SolvBTCSolv Protocol SolvBTC(SOLVBTC)$84,076.003.32%
  • fetch-aiArtificial Superintelligence Alliance(FET)$0.4856098.68%
  • optimismOptimism(OP)$0.776.43%
  • StoryStory(IP)$4.75-2.68%