Bitcoin finally turning bullish?

Bitcoin and most of the biggest altcoins have been steadily rising since the end of last week. With Bitcoin now closing on 43 500 dollars level, the sentiment around the biggest cryptocurrency has been slowly turning bullish again. Many analysts have slowly been calling the bottom and aiming for slow and steady grow to the new ATH.

More market movers from category

More market movers

NZD weakens on all fronts

The New Zealand dollar (NZD) fell on all fronts on Friday. NZD/USD is down 1.4% and NZD/JPY dropped 1.2%, while GBP/NZD is up 1.3%.

Inflation levels update

The annual inflation rate in India dropped from 5.6% in March to 4.7% in April. Brazil’s inflation fell from 4.6% to 4.1%. However, inflation in Spain accelerated from 3.3% to 4.1%, and France’s inflation jumped from 5.7% to 5.9%.

Mark Cuban praises AI

The potential of AI, according to Mark Cuban, is “beyond anything I’ve ever seen,” and he compared ChatGPT to the early days of the internet. Cuban has a straightforward piece of advice for businesses: join the AI race or perish. Cuban stated, “There are two types of companies in the world: those who are great at AI and everyone else.”

BoE lifts interest rates to 4.5%

The Bank of England followed market forecasts and increased the interest rates by 25 bps from 4.25% to 4.5%. This pushed borrowing costs to new heights not seen since 2008, as inflation still sits at double digits.

China is close to deflation

While the rest of the world still experiences relatively high inflation, China is close to deflation. China’s annual inflation rate dropped from 0.7% in March to 0.1% in April. The Netherlands’ inflation accelerated from 4.4% to 5.2%. Inflation in the Czech Republic fell from 15% to 12.7%. Inflation in Australia jumped from 4.6% in April to 5% in May. 

IRS sues FTX for $44 billion

The US Department of the Treasury and the IRS have filed 45 claims against the defunct crypto exchange FTX and its affiliates, totaling $44 billion. Alameda Research LLC was hit with a $20.4 billion tax bill from the IRS for payroll and partnership taxes. They also sued Alameda Research Holdings for over $17 billion.


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Most important Bitcoin-related announcements from BTCPrague

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Saylor to speak at Europe’s largest Bitcoin conference BTC Prague

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Five best crypto tax software tools available on the market

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