{"id":20769,"date":"2023-05-10T18:01:41","date_gmt":"2023-05-10T18:01:41","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/btc-eth-and-kava-after-cpi-data\/"},"modified":"2023-05-10T18:01:41","modified_gmt":"2023-05-10T18:01:41","slug":"btc-eth-and-kava-after-cpi-data","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/btc-eth-and-kava-after-cpi-data\/","title":{"rendered":"BTC, ETH and KAVA after CPI data"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1683739398674-8f96985b-c5d0-4465-adbb-c24b8f401db5-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1683739398674-8f96985b-c5d0-4465-adbb-c24b8f401db5-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1683739398674-8f96985b-c5d0-4465-adbb-c24b8f401db5-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1683739398674-8f96985b-c5d0-4465-adbb-c24b8f401db5-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Bitcoin price broke to $28,200 while Ethereum hovered above $1,800 as stocks climbed on US CPI data.<\/li>\n<li dir=\"ltr\">KAVA price also rose, jumping 11% amid the positive sentiment and increased network activity.<\/li>\n<li dir=\"ltr\">BTC, ETH and KAVA are trading near key technical levels.<\/li>\n<\/ul>\n<p dir=\"ltr\">The global cryptocurrency market rose 1.8% on Wednesday to $1.2 trillion as investors reacted to the latest US inflation data. The price of <a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin (BTC)<\/a> was up 3% to $28,270 while Ethereum retested levels above $1,800 following recent dumps for the top two coins by market cap.<\/p>\n<p dir=\"ltr\">Elsewhere, US <a href=\"https:\/\/coinjournal.net\/news\/tag\/stocks\/\">stocks<\/a> turned green as Consumer Price Index (CPI) data showed inflation continued to cool, with the annual rate now at its slowest pace in two years.<\/p>\n<p dir=\"ltr\">Gains across equities and in the crypto major caps were also replicated in the medium and small cap altcoins. A notable upside was with the price of Kava (KAVA), which was up more than 11% as of 12:20 ET.<\/p>\n<h2 dir=\"ltr\">BTC, ETH, KAVA price prediction: what next after CPI bump?<\/h2>\n<h3 dir=\"ltr\">BTC\/USD<\/h3>\n<p dir=\"ltr\">Bitcoin price had fallen below $28k this week following the large transaction volumes that hit the network and saw fees skyrocket. The congestion, attributable to the rise in BTC-20 tokens, forced crypto exchange Binance to halt BTC withdrawals on two occasions. The ensuing FUD pushed Bitcoin price lower.<\/p>\n<p dir=\"ltr\">Although prices are above $28k again, market experts and analysts suggest bulls are not in control yet. This is because the price remains below the key technical level of $30,000. Crypto analyst Rekt Capital noted via a<a href=\"https:\/\/twitter.com\/rektcapital\/status\/1656264559483846658\">\u00a0<u>tweet<\/u><\/a>:<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">A <a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> relief rally into $28,200 followed by a strong rejection from there would likely precede bearish continuation for price<a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a><\/p>\n<p>\u2014 Rekt Capital (@rektcapital) <a href=\"https:\/\/twitter.com\/rektcapital\/status\/1656264559483846658?ref_src=twsrc%5Etfw\">May 10, 2023<\/a><\/p>\n<\/blockquote>\n<h3 dir=\"ltr\">ETH\/USD<\/h3>\n<p dir=\"ltr\"><a href=\"https:\/\/coinjournal.net\/ethereum\/\">Ethereum<\/a> is hovering above a key support level after this week\u2019s weakness. The ETH\/USD pair fell to lows of $1,800 on Monday and saw four consecutive red candles on the daily timeframe before today\u2019s uptick.<\/p>\n<p dir=\"ltr\">The RSI and MACD suggest bears are still strong and bulls are likely to struggle for support at current prices. This means the $2,000 remains a key technical level and moving further off it could spell more bloodbath for ETH price. Here\u2019s an analyst\u2019s Ethereum price prediction?<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw\">#Ethereum<\/a> breached a key demand wall at $1,850-$1,905.<\/p>\n<p>Failure to regain this critical support zone may trigger a correction, potentially leading <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a> to the next significant demand area at $1,570-$1,630. <a href=\"https:\/\/t.co\/7s7q1LlF06\">pic.twitter.com\/7s7q1LlF06<\/a><\/p>\n<p>\u2014 Ali (@ali_charts) <a href=\"https:\/\/twitter.com\/ali_charts\/status\/1655900952644272129?ref_src=twsrc%5Etfw\">May 9, 2023<\/a><\/p>\n<\/blockquote>\n<h3 dir=\"ltr\">KAVA\/USD<\/h3>\n<p dir=\"ltr\">KAVA is the native token of layer-1 blockchain Kava, which ranks as the 98th\u00a0largest cryptocurrency by market. The price of KAVA hit the all-time high of $9.12 in August 2021. At current prices, its value is more than 90% down.<\/p>\n<p dir=\"ltr\">However, increased ecosystem activity around DeFi on the Kava blockchain has aided the double digit gains seen in the past 24 hours. It\u2019s what pushed KAVA\/USD towards the psychological $1.\u00a0<\/p>\n<p dir=\"ltr\">The main barrier for KAVA remains the $1.12 zone, while bears could enjoy some bloodbath to $0.52.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/crypto-price-prediction-bitcoin-ethereum-and-kava-after-cpi-data\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Bitcoin price broke to $28,200 while Ethereum hovered above $1,800 as stocks climbed on US CPI data. KAVA price also rose, jumping 11% amid the positive sentiment and increased network activity. BTC, ETH and KAVA are trading near key technical levels. The global [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":20770,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/20769"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=20769"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/20769\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/20770"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=20769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=20769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=20769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}