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Bitcoin investors have been unmoved by recent macroeconomic data. Muted reactions suggest that they’ve already priced in much of what has occurred
The latest price moves in crypto markets in context for July 20, 2023.
The share of bitcoin trade volume on Japanese exchanges rose from 69% to 80% in the first six months of the year, data tracked by Kaiko show.
The CCIP protocol is designed to help build cross-chain applications and services and went live for early access users on the Avalanche, Ethereum, Optimism and Polygon blockchains this week.
El Salvador’s bonds due in 2027 have gained 62% in the last six months as the country finds itself on a better financial footing.
A lot can be learned from the listing of the first Gold ETF, but looking to the past also comes with some caveats.
We view XRP's breakout above the Ichimoku cloud as a good example for bitcoin, Fairlead's Katie Stockton said.
PLUS: Ripple's partial victory last week in its ongoing legal feud with the Securities and Exchange Commission left important questions unsettled for token issuers, a crypto lawyer told CoinDesk TV.
Bitcoin’s stall despite a recent wave of positive crypto news is a cause for concern, one observer said.
The possibility the SEC will approve the conversion of GBTC into an ETF is playing a role, according to analysts.
- 09:53After a certain whale cancelled the pledge of 8.67 million OM, it deposited 7 million OM into the exchangeAccording to Golden Finance report, as monitored by SpotOnChain, after 281 days of silence, a whale cancelled the pledge of 8.67 million OM 12 hours ago and then deposited another 7 million OM ($43.45 million) into the exchange. On April 17, 2024, this whale withdrew 8.81 million OM from the exchange at a pledge price of only $0.682 per OM. Now that OM has exceeded $6.1, this whale still has a remaining balance of 1.67 million OM ($10.2 million), with an estimated total profit of $47.64 million (+793%).
- 09:49In the past 7 days, the stablecoin on Ethereum has increased by about 1.3 billion US dollarsGolden Finance reports, according to Lookonchain monitoring, in the past 7 days, the stablecoins (USDT and USDC) on Ethereum have increased by about 1.3 billion USD, while the stablecoins (USDT and USDC) on Hyperliquid have decreased by about 77 million USD.
- 09:47QCP Capital: A more positive bullish outlook may not appear until the third quarterPANews reported on March 10 that Singaporean cryptocurrency investment firm QCP Capital stated today that last Friday's Non-Farm Payroll (NFP) data provided some respite for the stock and cryptocurrency markets, further strengthening market expectations for a rate cut in May. Bitcoin spent most of Saturday hovering around $86,000, seemingly laying the groundwork for a steady recovery this week. However, this momentum was interrupted during Sunday's low liquidity period by the Bybit hacking incident. The hackers cashed out at least $300 million from a record-breaking theft of $1.5 billion in cryptocurrencies, causing BTC and ETH to retest key support levels. As the hackers have shown an intention to cash out rather than risk further losses (the stolen assets have already depreciated by 25%), holders may sell off early to avoid supply pressure from further hacker sales, which could exacerbate today's price drop. In the past 24 hours, demand for bearish options has increased due to concerns about additional selling pressure. Although $80k remains a key support level for BTC in recent times, upside potential seems limited as narratives about strategic bitcoin reserves have been fully priced into the market. Recent option flows suggest more bullish prospects might not emerge until Q3. Until new narratives are found within crypto markets short-term correlation between BTC and stocks is likely to increase further. Currently both these risky assets trade near recent lows with tariff risks still present; volatility may rise ahead of key US macroeconomic data releases - Consumer Price Index (CPI) on Wednesday and Producer Price Index (PPI) on Thursday.