First Mover Americas: Bitcoin Falls to 2-Month Low
The latest price moves in bitcoin (BTC) and crypto markets in context for May 12, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Markets
Bitcoin Prices Slip to 2-Month Lows As CoinDesk’s Bitcoin Trend Indicator Turns Neutral From Bullish
Prices fell to $26,160 soon before press time, reaching the lowest since March 17.
Long-Term Bitcoin Holders Boost Their Stash as BTC Prices Decouple From Nasdaq
Long-term holder wallets are witnessing net accumulation at the fastest pace since October 2021.
Bitcoin Tends to Become More Volatile Around Monthly U.S. Inflation Releases: Kaiko
Monthly U.S. inflation readings influence the Fed policy, which impacts both crypto and traditional markets.
Are Cryptocurrencies an Inflation Hedge? Theoretically Yes, Factually No Says S&P
Some argue that crypto assets could be in demand in a high-interest rates/high inflation environment because they could serve as a store of value, however crypto’s track record is too short to prove this, S&P said.
Bitcoin Trades at Nearly $650 Premium on Binance.US
The widening discrepancy between the bitcoin price on Binance’s U.S. arm and global counterparts has some observers worried about impending legal action directed at the unit.
First Mover Americas: PEPE Peaks After Binance Listing
The latest price moves in bitcoin (BTC) and crypto markets in context for May 4, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Meme Coin Trading Volume Surges to Two-Year High, Signals Caution for Bitcoin Bulls
Speculative mania in meme coins has historically presaged bearish reversals in bitcoin.
Crypto Options Exchange Deribit’s Ether Volatility Index Hits Record Low
Deribit’s forward-looking ether volatility index (ETH DVOL) hit lifetime lows over the weekend. Expectations for price turbulence appear underpriced considering the lingering macroeconomic uncertainties.
Pepecoin’s Bewildering Rise Turned a Pittance Into an Almost 5,000,000% Meme Coin Profit
A pseudonymous crypto trader bought trillions of the meme coin three weeks ago on UniSwap for $263, and still holds about $9 million of PEPE after selling several million dollars worth, according to data from blockchain platform Arkham.