Cryptocurrency Analysis and News Portal
Bitcoin (BTC) created resistance at $37,500 on Friday amid an increasing consensus that a new dive was underway. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewFunding signals dip expectationsData from Cointelegraph Markets Pro and TradingView revealed $37,500 as the ceiling which capped price action overnight into Friday.BTC/USD had recovered from a trip to
Read More
Outflows do not necessarily imply passive investing and investors often tokenize coins drained from centralized exchanges on the Ethereum blockchain to earn extra yield. The number of wrapped bitcoin (WBTC) has increased by 13,000 this year, extending the year-long rising trend. WBTC is the first ERC20 token backed 1:1 with
Read More
The price of bitcoin has dropped after the Federal Reserve said that it will likely raise interest rates in March. Bitcoin lost its yesterday’s gain, now trading at $36k at press time. However, Fed Chairman Jerome Powell stated during a press conference that there is still a lot of uncertainty, including
Read More
The slight recovery in the crypto markets this week all but retracted as major cryptocurrencies dipped up to 7% in the past 24 hours amid a hawkish U.S. Federal Reserve (Fed) outlook to cut back on inflation.In a Wednesday meeting, Fed Chairman Jerome Powell said the agency was ready to
Read More
"Short-positioned traders are dominating the derivative market. This indicates that bitcoin's bounce was driven by [the spot market] rather than derivatives, which is confluent with the significant bidding seen on Coinbase," Marcus Sotiriou, analyst at the UK-based digital asset broker GlobalBlock, wrote in an email to CryptoX. Source
Read More
The U.S. Federal Reserve said Wednesday it would hold interest rates near zero, even as it edges closer to removing some of the extraordinary stimulus provided to financial markets since the coronavirus hit in March 2020.The benchmark U.S. short-term interest rate will remain in the current range between 0% and
Read More
If the Fed stays the course, it could amount to a dramatic change to the macroeconomic environment. More to the point, it might be perceived as a major change by investors and employers, who would shift their own choices accordingly. Among other impacts, higher Fed interest rates usually draw capital
Read More
The broader crypto market recorded its second day of growth ahead of a U.S. Federal Reserve (Fed) statement on Wednesday. Prices of bitcoin, ether and other major cryptocurrencies rose as much as 7% in the past 24 hours, with memecoin Dogecoin leading gains among the biggest assets by market capitalization.Terra's
Read More
A fair amount of news happened last week: The Federal Reserve announced it is still nowhere close to issuing a digital dollar and the U.S. House of Representatives held a surprisingly substantive discussion around crypto's energy impact.You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and
Read More
Bitcoin (BTC) held onto fresh upside on Tuesday after a resurgent stock market took the largest cryptocurrency above $37,500.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView.Fed may spark fresh volatilityData from Cointelegraph Markets Pro and TradingView showed BTC/USD trading above $36,000 on Tuesday, with maximum 24-hour gains totaling 14% versus Monday’s floor. Bitcoin’s
Read More