Bitcoin’s Recent Weakness Is More Tied to Global Markets Than to Anything Crypto Specific, Coinbase Says
Both equities and gold have been trading lower since reaching highs in mid-April, the report said.
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Both equities and gold have been trading lower since reaching highs in mid-April, the report said.
The latest price moves in bitcoin (BTC) and crypto markets in context for May 3, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Bitcoin held steady as the dollar index nursed losses ahead of a U.S. jobs report that is expected to show the unemployment rate remained below 4% for the 27th straight month.
The business has a number of positive catalysts including its smart wallet Coinbase Prime, layer-2 network Base and its growing international offering, the analysts said.
CEO Sui Chung sees South Korea and Israel as the next markets to list crypto ETFs.
Early Friday, Friend.Tech airdropped its native token, FRIEND, while debuting version 2 of the platform.
Crypto markets have seen significant profit taking in recent weeks with retail investors playing a bigger role than institutions, the report said.
The latest price moves in bitcoin (BTC) and crypto markets in context for May 2, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
The cryptocurrency is already showing signs of maturity as its volatility drops to all-time lows on a yearly scale, the report said.
Recently, traders have sold $80,000 BTC call options expiring at the end of May to generate additional yield, one observer said.