{"id":15383,"date":"2022-12-12T14:55:59","date_gmt":"2022-12-12T14:55:59","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/btc-eth-move-lower-ahead-of-us-inflation-data-market-updates-bitcoin-news\/"},"modified":"2022-12-12T14:55:59","modified_gmt":"2022-12-12T14:55:59","slug":"btc-eth-move-lower-ahead-of-us-inflation-data-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/btc-eth-move-lower-ahead-of-us-inflation-data-market-updates-bitcoin-news\/","title":{"rendered":"BTC, ETH Move Lower Ahead of US Inflation Data \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Bitcoin was trading under $17,000 to start the week, as markets prepared for a big week of economic announcements. U.S. inflation figures will be released tomorrow, and are expected to fall to 7.3%. Many believe this will give way to the Federal Reserve pivoting from its aggressive rate hike policy. Ethereum was also lower, and is trading below $1,250 as of writing.<\/strong><\/p>\n

Bitcoin<\/h2>\n

Bitcoin (BTC<\/a>) started the week in the red, as traders prepared for a big week of economic announcements from the United States.<\/p>\n

Inflation figures will be released on Tuesday, and are expected to fall to 7.3%, down from 7.7% the month prior.<\/p>\n

BTC<\/a>\/USD fell to an intraday low of $16,899.39 during Monday\u2019s session, which comes a day after hitting a high of $17,245.64.<\/p>\n

\"Bitcoin,
BTC<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

As can be seen from the chart, today\u2019s decline saw bitcoin move lower for a fourth straight day, edging closer to a floor of $16,700 in the process.<\/p>\n

The 14-day relative strength index (RSI), which is currently tracking at 47.42, is also nearing a resistance of its own at 46.00.<\/p>\n

Depending on tomorrow\u2019s inflation figure we could see BTC<\/a> move below $16,700, and potentially towards the $16,000 mark.<\/p>\n

Ethereum<\/h2>\n

Ethereum (ETH<\/a>) also trended downwards on Monday, with prices falling for a second consecutive session.<\/p>\n

Following a high of $1,281.78 on Sunday, ETH<\/a>\/USD moved to a bottom of $1,243.48 earlier in the day.<\/p>\n

The move saw ethereum fall to its lowest point since November 8, and it is now nearing a floor of $1,230.<\/p>\n

\"Bitcoin,
ETH<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Looking at the chart, recent bearish sentiment in ETH<\/a> returned once the RSI failed to break out of a ceiling of 52.00.<\/p>\n

As of writing, the index is tracking at 48.60, and now seems to be moving towards a floor of 45.30.<\/p>\n

Despite this downtrend, the 10-day (red) moving average still remains above its 25-day (blue) counterpart.<\/p>\n

Register your email here to get weekly price analysis updates sent to your inbox:<\/em><\/p>\n

Do you expect U.S. inflation to fall below 7.3%? Leave your thoughts in the comments below.<\/strong><\/em><\/p>\n

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\nEliman Dambell <\/h6>\n

\nEliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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