Wrap

Market Wrap: Bitcoin Stabilizes After China Crypto Ban Sell-Off; Volatility to Remain Elevated

Market Wrap: Bitcoin Stabilizes After China Crypto Ban Sell-Off; Volatility to Remain Elevated

Bitcoin is stabilizing above the $40,000 support level after China’s latest crypto ban triggered immediate selling. BTC is down about 11% over the past week, compared to a 15% decline in ether over the same period. Analysts expect volatility to remain elevated given the regulatory headwinds. Exchange tokens, especially those with a large share of …

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Market Wrap: Crypto Market Cap Breaks $1.5T as Buyers Show Up for the Dip

Market Wrap: Crypto Market Cap Breaks $1.5T as Buyers Show Up for the Dip

Bitcoin has fully pared losses from Sunday’s dip as the leading cryptocurrency fell from around $48,600 to below $46,000 early Monday morning. As of 21:00 UTC (4 p.m. ET), bitcoin was trading above $48,600 on Coinbase. But the leading cryptocurrency still has yet to trade above the psychologically significant $50,000 mark.  Much of bitcoin’s choppy …

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Market Wrap: The 'Elon Effect' Blasts Bitcoin to $44.8K While Ether Moons

Market Wrap: The ‘Elon Effect’ Blasts Bitcoin to $44.8K While Ether Moons

Bitcoin’s price is getting closer to Mars thanks to Elon Musk while ether moons to a new record. Investors are pulling BTC out of DeFi, likely to diversify their profits. Bitcoin (BTC) trading around $44,023 as of 21:00 UTC (4 p.m. ET). Climbing 14.5% over the previous 24 hours. Bitcoin’s 24-hour range: $38,051-$44,801 (CoinDesk 20) …

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Market Wrap: Bitcoin Trading Tepidly at $33.7K While SushiSwap Eats Raw Market Share

Market Wrap: Bitcoin Trading Tepidly at $33.7K While SushiSwap Eats Raw Market Share

Bitcoin is taking a break, staying in a tight trading range with lower than average volume compared to the past month. Meanwhile, alternative cryptocurrencies and decentralized finance are stealing the spotlight. Bitcoin (BTC) trading around $33,782 as of 21:00 UTC (4 p.m. ET). Gaining 2.5% over the previous 24 hours. Bitcoin’s 24-hour range: $32,341-$34,715 (CoinDesk …

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Market Wrap: Bitcoin Plunges to $30.3K as Options Traders Bet on Sub-$800 Ether

Market Wrap: Bitcoin Plunges to $30.3K as Options Traders Bet on Sub-$800 Ether

Bitcoin’s plunge to as low as $30,305 was intensified from leveraged long derivative liquidations; options traders are totally bearish on ether, the native asset of Ethereum. Bitcoin (BTC) trading around $33,277 as of 21:00 UTC (4 p.m. ET). Slipping 10.9% over the previous 24 hours. Bitcoin’s 24-hour range: $30,305-$38,947 (CoinDesk 20) BTC above the 10-hour …

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Market Wrap: Bitcoin Hovers Around $27K While ETH/BTC Pair Goes Bullish

Market Wrap: Bitcoin Hovers Around $27K While ETH/BTC Pair Goes Bullish

Bitcoin has mostly traded in a tight, low-volume range Monday while some profit-taking from bitcoin into ether is appearing on the ETH/BTC charts. Bitcoin (BTC) trading around $26,822 as of 21:00 UTC (4 p.m. ET). Gaining 2.3% over the previous 24 hours. Bitcoin’s 24-hour range: $25,759- $27,447 (CoinDesk 20) BTC very near its 10-hour and …

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Market Wrap: Bitcoin Fails to Reach $16.5K; Wrapped BTC Hits $2 Billion

Market Wrap: Bitcoin Fails to Reach $16.5K; Wrapped BTC Hits $2 Billion

Analysts are bullish on bitcoin’s price but the options market is decidedly bearish on the remaining weeks of 2020. Ethereum’s wrapped bitcoin token crosses $2 billion locked. Bitcoin (BTC) trading around $16,240 as of 21:00 UTC (4 p.m. ET). Gaining 0.30% over the previous 24 hours. Bitcoin’s 24-hour range: $15,971-$16,487 BTC above its 10-day and …

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Market Wrap: Bitcoin Loses Steam at $15.9K; Over 600K ETH Yanked From DeFi

Market Wrap: Bitcoin Loses Steam at $15.9K; Over 600K ETH Yanked From DeFi

A bitcoin rally to new 2020 highs has been slowed by lower spot volume. Meanwhile, some ether investors are moving capital out of DeFi. Bitcoin (BTC) trading around $15,502 as of 21:00 UTC (4 p.m. ET). Gaining 2.6% over the previous 24 hours. Bitcoin’s 24-hour range: $15,190-$15,934 BTC near its 10-day moving average but above …

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