Author: CryptoPress

The U.S. Labor Department announced Wednesday that the consumer price index (CPI) rose 0.5% in May over April. While the monthly increase was expected by consensus forecasts, the annualized headline inflation rate surged to 4.2%, up from 3.8% recorded the previous month. US CPI inflation climbed to 4.2% on an annualized basis in May, matching economist estimates but marking the hottest print since April 2023. The month-over-month headline...

Bitcoin sank to an intraday low of $60,892 following news of retaliatory U.S. military strikes against Iranian targets near the Strait of Hormuz. The geopolitical flare-up triggered $664.86 million in total crypto liquidations over a 24-hour window, pushing market sentiment into extreme fear. Sustained pressure from institutional capital flight remains high, with U.S. spot Bitcoin ETFs recording over $4.4 billion in net outflows since...

MicroStrategy purchased 1,550 bitcoin for approximately $101.3 million between June 1 and June 7, averaging $65,332 per coin. The acquisition follows a controversial 32 BTC sale the prior week, which was executed to fulfill preferred stock dividend obligations. The company simultaneously bolstered its specialized U.S. dollar reserve to $1 billion, significantly reducing the risk of near-term liquidations. MicroStrategy has resumed its...

Bitcoin rallied sharply toward the $64,000 mark on Monday, recovering from a recent slide that briefly dragged the premier cryptocurrency below $60,000. The rapid upward movement caught bearish traders off guard, setting off a swift short squeeze that wiped out roughly $320 million in short positions within a 15-minute window. This rebound offers some relief to bulls after a highly volatile stretch that saw heavy liquidations across...