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A weaker dollar often becomes a tailwind to risk assets, including bitcoin, as occurred in the second half of 2020 and early 2021. The greenback is a global reserve currency, playing an outsized role in global trade and non-bank borrowing. When the dollar strengthens, it causes financial tightening worldwide, disincentivizing
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However, some market watchers warned of a dump as traders were more incentivized to go short or bet against, a price rise as such positions earned fees from those going long. In futures trading, longs pay shorts when funding is positive, and vice-versa when funding is negative. Source
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Bitcoin (BTC) starts a new week still riding high near $37,000 as macroeconomic data returns to the fore.The largest cryptocurrency continues to circle its highest levels in 18 months, with excitement over a possible exchange-traded fund (ETF) approval in the United States driving sentiment.That is getting increasingly greedy, however, as
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Moody’s Analytics launched its AI-enabled Digital Asset Monitor meant to track the volatility and risk in DeFi amid the mainstream adoption of stablecoins by institutional investors. The fast growth of fiat-backed stablecoins to over $120 billion by retail users in the past years has attracted major attention from institutional investors seeking
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Defi lending platforms see a spike in stablecoin borrowing rates, signaling a market rebound with rising demand and potential arbitrage opportunities. The current bull market has triggered a resurgence for the defi sector, as interest rates for borrowing stablecoins have significantly increased across most defi lending services. The interest rates for borrowing
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"Fed interest rate decisions have seen reduced medium-term directional impact on BTC as correlations reign moderate, K33 analysts Anders Helseth and Vetle Lunde noted in a market preview Tuesday. "We still expect a significant intraday volatility contribution from the Wednesday FOMC, as the market typically reacts with bursts of strongly
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The market expects the UK’s apex bank to hold off on increasing or decreasing interest rates even as economic data is falling. The Bank of England (BoE) is expected to hold UK interest rates on Thursday due to recorded price pressures and a decline in economic activity. At the moment, the
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The difference, represented by funding rates (that is, the cost of holding long/short positions in perpetual futures, also called perp premium), has surged above an annualized 10% across major exchanges, including Binance, according to Velo Data. Positive funding rates mean buyers, or longs, pay shorts to keep their leveraged bullish
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Bitcoin (BTC) consolidated near $34,000 after the Oct. 24 Wall Street open as the dust settled on 15% daily gains.BTC/USD 1-hour chart. Source: TradingViewOpinions diverge on Bitcoin funding ratesData from Cointelegraph Markets Pro and TradingView tracked BTC price volatility through the day, with $34,000 a focus at the time of
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Major NFT creators Yuga Labs and Bored Ape Yacht Club reconsider listings on dominant platforms Blur and OpenSea, challenging recent royalty cutbacks. Major players in the non-fungible token (NFT) space, including Yuga Labs Inc., creators of the Bored Ape Yacht Club and CryptoPunks, along with Pudgy Penguins collection, are reevaluating their
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