Grayscale Bitcoin Trust Discount Narrows to 8-Week Low as DCG Faces Pressure

Also possibly at work could be any investor positioning taking place around the start of the year. Having grown fat in a number of one-way (mostly down) crypto trades last year, traders might be covering some of those bets as 2023 begins. Alongside the move in GBTC to start the year, there have been sizable rallies in the stocks of crypto exchange Coinbase (COIN) and bitcoin miners Marathon Digital (MARA) and Riot Platforms (RIOT) – all three of which tumbled 75% or more in 2022. Original

Bitcoin price targets 8-week highs as Ethereum reaches $1.8K

Bitcoin (BTC) looked to target new August highs at the Aug. 8 Wall Street open as upcoming United States inflation data fueled sentiment. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $25,000 next major BTC resistance Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it hit $24,246 on Bitstamp, its best since July 30. The pair was within striking distance of its highest since mid-June at the time of writing, while traders and analysts scanned the charts for signs of resistance. For on-chain monitoring resource Material Indicators, this came…

Bitcoin Heads for Record 8-Week Losing Streak

Put/call ratios for bitcoin open interest hit a 12-month high of 0.72 yesterday, research firm Delphi said in a note Friday, adding that the data indicated “bearish sentiment among investors.” Similar ratio levels were reached last May. (A put option is, generally speaking, a bet on a price decline, while a call option is a bet on upside.) Source