Bitcoin Relief Rally Fades; Support Holds at $32K
Bitcoin is down about 12% over the past seven days and was trading around $33,000 at press time.
Bitcoin is down about 12% over the past seven days and was trading around $33,000 at press time.
Bitcoin Trust shares bought in January are unlocked next month, and the incentive to reinvest is relatively low.
Bitcoin gave up some gains on Wednesday, suggesting the short-squeeze rally is fading.
The world of high frequency trading is characterized by heavy competition and short-term opportunities. Could DeFi be a new way to get ahead?
Selling options, be it a put or a call, is better suited for institutions with ample capital and a high-risk tolerance.
BTC is up 9% over the past 24 hours.
"The market looks to have digested most negative news during the recent sell-off from $41,000 to $29,000," one analyst said.
DOT was one of the day's biggest winners.
Bitcoin’s near 50% decline from all-time highs surprised analysts as China’s crackdown fueled bearish sentiment.
The price on the $500 million bond has fallen by almost three points.
Some in the industry now go so far as to predict a sixfold increase in the total dollars raised using such funding methods over the next four years.
The Arcane Research report says this downward trading indicates institutional investors are being “cautious” at the moment.
With the price of BTC just north of $29,000, it's little more than $3,000 a coin above the average price of $26,080 that CEO Saylor shelled out.
The decline brings the year-to-date gain down to just 3%, according to CoinDesk 20 data.
BTC is down about 22% over the past seven days.
Some see that level holding, while others say further declines are likely.
CME's bitcoin futures goes into "backwardation" and BTC inflows to exchanges rise as China "FUD" continues.
China's central bank said major financial institutions must stop providing trading, clearing and settlement for crypto transactions.
Data from services on Bitcoin and Ethereum shows what's real in crypto adoption stories.
"BTC held by ETFs and funds are a significant and measurable sample of network demand," one observer said.
Bitcoin’s ‘death cross’ could increase selling pressure into the weekend.
BTC buyers struggled near $40K resistance this week. Upside appears to be limited.
Bitcoin remains relatively resilient, having priced in the Fed's hawkish tilt in advance.
MicroStrategy CEO Michael Saylor said the problem isn't bitcoiners but those negative headlines about mining.
Bitcoin is under pressure as Fed taper concerns linger, although some expect crypto to remain resilient.
In the wake of the crash, billionaire Mark Cuban is now calling for regulation of stablecoins.
Upside momentum has been weak, which means the corrective phase from May is not yet complete.
"The data show HODLers are buyers here," one research firm noted.
The U.S. central bank also increased estimates of coming inflation to 3% from the 2.2% projection in March, largely due to transitory factors.
The Bitcoin network's processing power could rebound if miners relocate to other locales, one analyst predicts.