Market Wrap: Bitcoin in Pullback Mode as Regulatory Concerns Rise
Bitcoin is declining as regulatory concerns rise; ether is holding support.
Bitcoin is declining as regulatory concerns rise; ether is holding support.
Enactment of the bill, if it is passed and signed into law, is still far off.
The changing trading patterns in USDT might be the result of China's recent crackdown on cryptocurrency mining and trading.
Bitcoin is under pressure, although buyers could return for a brief bounce.
Put-call open interest ratio measures the number of open positions in put options relative to calls.
NFT marketplace OpenSea saw record trading volume on Saturday and Sunday as CryptoPunks, ArtBlocks and Bored Ape Yacht Club prices soared.
The weekly chart is holding support and could signal a return of positive momentum this month.
Investors are again HODLing for the long-term, taking liquidity out of the market.
The pullback from Saturday's top to current prices is likely to do with uncertainty around the U.S. infrastructure bill, one expert said.
Since the end of May, tether's growth has gone completely flat.
Stiff price resistance is still seen in the low $40,000 range, but analysts are wondering aloud if the worst of the recent bear market might have passed.
Bitcoin hits its highest level since mid May and has risen more than 15% over the past week.
The token began the day at $18.26 and climbed to $27.56 after the announcement from Binance, according to data from Messari.
Lower support near $34,000 could stabilize the pullback into the weekend.
The "max pain point" for the July expiry was $35,000.
Analysts see the cryptocurrency's price as remaining range-bound.
The market is holding that price floor well as large investors return.
In digital assets, high yields are ubiquitous, but it’s not always clear what risks are actually taken to generate these yields, says our columnist.
“After this eight-day rally, bitcoin may well need to reset,” one analyst said.
Shares of the popular zero-commission trading app opened down as much as 10% on Thursday before closing the day down 8.4%.
DeFi has challenged many aspects of traditional capital markets including the creation and discovery of alpha returns, says IntoTheBlock's CEO.
Users can now open USDC positions and stake CVI USDC through the index.
Lower support is seen around $34,000-$36,000, which is the middle of a two-month range.
Analysts expect bitcoin to pause at around $40K before its next leg up.
Data underscores that It’s not that easy to win over a crypto trader’s heart.
Even while pressure mounts to taper its asset purchases, the central bank will continue its accommodative quantitative easing.
The GBTC shares traded at a discount of 6.6% to net asset value (NAV) on Tuesday, the smallest margin since June 22.
Lower support near $36K could stabilize a pullback.
Ripple's xRapid cross-border payment service allows customers to transfer funds using XRP, making transactions faster and cheaper.
Ether outperformed bitcoin in terms of volume growth and price performance.