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Markets
First Mover Americas: Bitcoin Falls to 2-Month Low
The latest price moves in crypto markets in context for May 12, 2023.

Bitcoin Prices Slip to 2-Month Lows as CoinDesk’s Bitcoin Trend Indicator Turns Neutral From Bullish
Prices fell to $26,160 soon before press time, reaching the lowest since March 17.

Bitcoin Prices Retrace as Traders With Varying Time Horizons Jockey for Position
Longer term holders remain resilient. Bitcoin super whales warrant attention, as they have recently reduced positions.

Bitcoin Edges Below $27K as Latest Bank Crisis Fails to Trigger Price Increase
BTC has been trading largely below the psychologically important $30,000 mark since late April, as investors wrestle with recent bank sector debacles and other macroeconomic uncertainties.

‘Smart Money’ Traders Reduce Pepecoin Holdings by $3M as Meme Coin Mania Cools
PEPE token has dropped 66% since last week, when it reached a $1.8 billion market capitalization after a staggering rally.

Long-Term Bitcoin Holders Boost Their Stash as BTC Prices Decouple From Nasdaq
Long-term holder wallets are witnessing net accumulation at the fastest pace since October 2021.

Bitcoin Roller Coaster Ride Wednesday Underlines Its Vulnerability but Also Its Resilience
Bitcoin and ether rose on mildly favorable inflation data, sank amid rumors of a U.S. government sell-off of BTC and then climbed again as investors shrugged off the tumult.

Bitcoin Dips Below $27K, Reversing Post-CPI Rally
The BTC/USD trading pair on Coinbase was trading as low as $26,800 before regaining some ground.

Bitcoin Tends to Become More Volatile Around Monthly U.S. Inflation Releases: Kaiko
Monthly U.S. inflation readings influence the Fed policy, which impacts both crypto and traditional markets.

Are Cryptocurrencies an Inflation Hedge? Theoretically Yes, Factually No Says S&P
Some argue that crypto assets could be in demand in a high-interest rates/high inflation environment because they could serve as a store of value, however crypto's track record is too short to prove this, S&P said.
