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Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?
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Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?

Bitcoin Finds Support At $114K, But Rally May Stall Without New Drivers

Christian Encila
Christian Encila
1 month ago
2 mins read
Bitcoin

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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Bitcoin is walking a fine line again. After sliding for six straight trading sessions, the world’s largest cryptocurrency bounced back from a key support level around $114,432. That small rebound is catching attention, but it’s not enough to suggest a strong rally is around the corner.

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Spot Bitcoin ETFs Bleed Over $800 Million: Second‑Largest Exit Ever – Details

1 month ago

Labor Data Fuels Fed Speculation

Recent economic data in the US isn’t helping much. Reports showed that job growth came in weaker than expected, with the unemployment rate rising to 4.2%.

Average hourly wages only went up by 0.3%, pointing to a cooling labor market. These numbers are adding weight to the idea that the Federal Reserve might soon hit pause on interest rate hikes—or even lower them.

That possibility matters a lot for assets like Bitcoin, which tend to do better when borrowing is cheaper and liquidity is high. A shift in central bank policy could push more institutional investors back into the market.

But for now, the mood is cautious. While some investors are quietly adding to their positions, many are waiting to see what the central bank does next.

ETF Inflows Show Mixed Signals

Bitcoin ETFs in the US saw strong demand in June and July. Based on figures from MarketWatch, total inflows into spot Bitcoin ETFs crossed the $50 billion mark by mid-July. That’s a big milestone. It shows that Bitcoin is no longer just a niche interest—it’s part of how big institutions think about their portfolios.

Bitcoin market cap currently at $2.28 billion. Chart: TradingView

Meanwhile, global tension continues to push some investors toward Bitcoin. Rising unrest in the Middle East, the ongoing war between Russia and Ukraine, and China’s tightening grip on trade and key supplies are all reasons why people are looking for assets that sit outside government control. Bitcoin, while not as trusted as gold just yet, is increasingly seen as a backup plan.

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Slow And Steady: Bitcoin’s Current Rise Feels Different—Study

1 month ago

Bitcoin’s Support Still Holds Above $100K

Despite the shaky short-term action, Bitcoin still looks stronger under the hood. On-chain data shows that more holders are staying in for the long haul. At the same time, there’s less borrowing for risky trades. These trends suggest the market is shifting away from hype and moving toward value-based buying.

As long as Bitcoin stays above $100,000, analysts believe the larger trend is still intact. Pullbacks, like the one this month, could just be part of a bigger pattern. If the Fed makes a dovish move later this year, a fresh wave of capital could come in by the fourth quarter.

Featured image from Meta, chart from TradingView

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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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