Bitcoin Slips Towards $42K as Interest Rates Soar; Chainlink’s LINK Defies Crypto Slump
Cryptocurrencies slid lower Monday with bbitcoin nearing $42K as soaring U.S. interest rates amid strong economic data, hawkish Powell weighed on prices.
Bitcoin
Bitcoin To Reach $70K By Year End: Markus Thielen
The macro environment, monetary tailwinds, U.S. election cycle and increasing TradFi demand all point to higher prices.
Bitcoin ETFs See $700M Net Inflows as BlackRock, Fidelity Gains Offset GBTC Outflows: CoinShares
New U.S. bitcoin ETFs have amassed $7.7 billion in funds since debut, offsetting the $6 billion outflows from incumbents, according to CoinShares data.
El Salvador’s Bitcoin-Friendly President Nayib Bukele Wins Re-Election
The country in 2021 became the first nation to adopt bitcoin as legal tender.
Protocol Village: Kodiak Finance, Berachain-Based DEX Project, Raises $2M
The latest in blockchain tech upgrades, funding announcements and deals. For the period of Feb. 1-7.
U.S. Added 353K Jobs in January, Blowing Past Estimates
The latest update on the labor market came less than two days after the Fed’s Jerome Powell poured cold water on market hopes of a rate cut in March.
First Mover Americas: Bitcoin Holds $43K
The latest price moves in bitcoin [BTC] and crypto markets in context for Feb. 2, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
BlackRock and ProShares’ Bitcoin ETFs Surpassed GBTC’s Daily Volumes
GBTC has led bitcoin ETF volumes, mostly in outflows, since the products started trading in early January.
Traders Prefer Bitcoin to Ether Despite Developing Spot ETH ETF Narrative
The ether-bitcoin forward term structure is downward sloping structure, which means that traders expect ETH to perform weaker than BTC as time goes by, one trader said.
Bitcoin Steady at $43K as Tumbling U.S. Regional Bank Stocks Reignite Worries
Bitcoin so far remained muted compared to its vehement rally during the March banking crisis, but one analyst said he’s “cautiously long” amid the turmoil.