BTC is trading well off its recent highs above $24K, but is still faring better than earlier in the month; a number of institutional investors see the decline in COIN's price as an opportunity to buy shares. JPRubin23 and TheSamReynolds report
Bitcoin traded sideways on Sunday to fall below $22,400, well-off mid-week highs.
Ether, the second largest crypto by market cap, was trading at $1,560, also down slightly for the same period. Other cryptos were largely in the red, with YGG and AXS both off more than 7%. The crypto Fear & Greed Index has improved over the past two weeks, but remains in fear territory reflecting deep concerns about conditions potentially affecting crypto.
"BTC did see some positive price action following its resilience, post the CPI data earlier this month," wrote Joe DiPasquale, the CEO of crypto fund manager BitBull Capital, in an email to CoinDesk."The fact that news of Tesla selling its BTC holdings did not crash the price is also a positive sign for the bulls.Investors will now be eyeing this week's interest rate decision by the U.S. central bank's Federal Open Markets Committee .
Crypto declines tracked major equity indexes on Friday as the tech-heavy Nasdaq fell nearly 2% and the S&P 500, which has a heavy tech component, dropped almost a percentage point. Stocks, like cryptos though, had their best week in a while after months of losses. Gold rose slightly, although it has also steadily fallen from March highs over $2,000.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
236K BTC Sold by Large Institutions Since Terra's Implosion in MayBy Arcane Research analyst's estimate, Tesla only suffered a slight loss in the Bitcoin dump as 75% of its holdings were sold at $32,209.
Read more »
Bitcoin must close above $21.9K to avoid fresh BTC price crash — traderBuckle up. If you want Bitcoin to avoid a crash, it must stay around the $20,000 mark, suggests a trader.
Read more »
BTC, DOGE and SHIB Price Analysis for July 24How long can DOGE and SHIB rise faster than BTC? Dogecoin dogecoin jasdoge DogecoinMemes RacerDoge crypto cryptocurrency doge
Read more »
Not just Bitcoin price: Factors affecting BTC miner profitabilityBTC miners might need an accountant because their expenses are going up in comparison to their income. Here's why:
Read more »
BTC, BNB and ADA Price Analysis for July 23Can altcoins rise against the fall of BTC? Dave_Jonez_02 BNB Pain_Alive_BNB Binance_DEX BinanceResearch CardanoStiftung ADAcoin_ Cardano cardano Cardano_ emurgo_io
Read more »
Bitcoin, Ethereum Technical Analysis: BTC Moves Towards $22,000 to Start the Weekend – Market Updates Bitcoin NewsBitcoin moved towards $22,000 to start the weekend, as prices consolidated following Friday’s gains. Ethereum also slipped on Saturday.
Read more »