China News by Thebittimes.Com

The debt ceiling talks remain in focus and are likely to dictate the price action in the S&P 500, DXY and cryptocurrency markets in the near term. The debt ceiling negotiations in the United States are keeping traders on the edge. JPMorgan Chase CEO Jamie Dimon recently told Bloomberg on May 11 that a possible sovereign default by the U.S. government could create panic in the stock markets, resulting in heightened volatility. The next big question troubling crypto investors is how will Bitcoin react to such an event. Bloomberg’s latest Markets Live Pulse survey indicates that Bitcoin (BTC) could be the third most preferred asset class behind Gold and U.S. Treasuries should the U.S. government fail to prevent a debt default. Daily cryptocurrency market performance. Source: Coin360 Billionaire fund manager Paul Tudor Jones told CNBC that he is holding his Bitcoin and will always have some portion of his portfolio in it. What are the important support and resistance levels to watch ...

Bitcoin price is up, alongside the prices of stocks and altcoins, thanks to a “positive” CPI report. Bitcoin price is up on Dec. 13, and a market-wide rally in crypto prices has some investors hopeful that the intra-day high at $18,105 is a sign that BTC has bottomed.  A primary catalyst for the rally appears to be the Consumer Price Index report which showed energy decreasing by 1.6%, which should be welcomed news for struggling Bitcoin miners. With the overall CPI report showing easing inflation at 7.1% versus the previously expected 7.3%, equities traders are reacting by driving prices higher. Daily cryptocurrency market performance. Source: Coin360 The stock market is also flashing green, with the Dow showing a 600-point increase and the S&P 500 registering a 100-point gain. As reported by Cointelegraph, Bitcoin’s price action remains closely correlated to U.S. equities and today’s rally is no exception to the trend.  Here are a few reasons why Bitcoin price is up today . Bit...