Investors Cashing Out of Grayscale Bitcoin Trust Might Bring Market Boost
Investors who locked in borrowed coins will need to repurchase those to repay the loan, cryptocurrency pundits say.
Investors who locked in borrowed coins will need to repurchase those to repay the loan, cryptocurrency pundits say.
The digital-asset manager sold some existing constituents of the fund and used the proceeds to purchase ADA.
The Labor Department also revised May's numbers up by 24,000.
Bitcoin buyers are in profit-taking mode given strong overhead resistance.
Bitcoin's fortunes appear closely tied to Federal Reserve's money printing.
Bitcoin sentiment is improving despite profit taking into July.
The decline shows decreasing active user participation on the blockchain network, possibly a sign of weak demand.
The Fitch report suggests that the turmoil also could have the potential to spread to traditional markets.
The last time the put-call ratio dropped to six-month lows was during the December-January bull run.
BTC starts July on a negative note, although buyers could return at $30K support.
Bitcoin stalled during Asia hours as buyers took profit near $36K resistance. Support at $30K-$33K
The metric is tied to miners and may be distorted by China's mining ban.
Bitcoin could see a minor breakout toward the top of a two-month range near $40K.
Crypto markets rose despite regulatory crackdowns from the U.K. and China. Analysts expect continued resiliency above $30K support.
Ethereum gas fees have abated with decreasing network congestion. Also, there's Flashbots.
Concerns about the extent of the China crackdown have contributed to the past months' decline in bitcoin's price to about $34,200.
Net outflows from cryptocurrency funds totaled $44 million for the week ending June 25, marking the fourth consecutive week of redemptions.
Bitcoin is under pressure after reaching $35K resistance. Support at $30K could stabilize the current pullback.
Weak trading volume points to a lack of institutional and retail interest, according to one expert.
Cryptocurrency markets will likely stay under sell pressure for the next few weeks, but data points indicate this bear market may be short-lived.
On Friday, Japan’s financial regulator warned that Binance is operating in that country without permission.
The technical charts suggest further downside is likely as sellers react to extreme overbought conditions since March.
LedgerPrime's crypto quant fund is up 78% thanks to price discrepancies in the spot and derivatives markets.
The popping of bubbles does not indicate the failure of crypto technology itself, which continues to see massive long-term venture interest.
The stablecoin supply ratio oscillator is recovering in a sign of renewed capital inflow into bitcoin.
Bitcoin's short-term downtrend is slowing, although upside appears to be limited heading into the weekend.
Bitcoin's jump coincides with announcements made by El Salvador's president on Thursday evening.
Bitcoin is recovering from a volatile shakeout. Options expiry has large open interest around $40K.
It took less than two months for the token of one of the most promising crypto projects down to $34 from $630.
Sam Bankman-Fried’s FTX will allow users to trade tokenized stocks of companies such as Facebook, Google, Netflix, Nvidia, PayPal and Tesla.
