Tag: Markets

Bitcoin stays flat at $26K after PPL data as markets await Fed’s Powell

Bitcoin (BTC) stuck to $26,000 on June 14 as fresh United States macroeconomic data prints failed to move cryptocurrency markets. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView PPI offers Bitcoin bulls little fuel Data from Cointelegraph Markets Pro and TradingView showed BTC/USD staying stubborn as Producer Price Index (PPI) data showed U.S. inflation continuing to slow. US PPI just came in: -0.3% vs 0.2% previously-0.1% was predicted Just like yesterday, was lower than the predictions, furthering the likelihood of a pause at tomorrows #FOMC meeting. https://t.co/SymSTWwHSS — Decentrader (@decentrader)…

Crypto Markets Stay Down Following SEC Suing Binance

U.S. Bankruptcy Court Judge Sean Lane extended a mediation period between crypto lender Genesis and its creditors at a Monday hearing as tensions flared over the role Genesis’ parent company, Digital Currency Group (DCG), would play in the lender’s restructuring. The period, slated to end last month, will now conclude on June 16. Judge Lane appointed a mediator to steer talks between the insolvent lender and its creditors on May 1 after discussions between the parties broke down earlier this year. “There’s lots of different kinds of conversations that have…

Why Did Bitcoin BTC Price Fall to $25.4K? SEC Lawsuit Against Binance Rocks Crypto Markets

Ether, the second largest crypto in market value, was recently changing hands below $1,800, off more than 5% from Sunday, same time. ETH and other major altcoins followed a similar path to bitcoin on Monday with the bulk of their declines coming in the immediate hours after the SEC suit. BNB, Binance’s exchange token, and SOL, the native cryptocurrency of the Solana blockchain, recently plunged more than 10%. ADA and MATIC, the tokens of smart contract platforms Cardano and Polygon, and popular meme coin DOGE were recently off more than…

Cryptocurrency markets’ low volatility: A curse or an opportunity?

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The cryptocurrency market has been experiencing low volatility for the past two months, but does that mean investors should just sit and wait? Cryptocurrency markets are well-known for their volatility, where large price swings help investors create or lose fortunes. Yet there are often periods of relative stability where the tight price action bores some while being an opportunity for others. Since the beginning of the year, Bitcoin’s (BTC) price has soared by over 60%, climbing from around $18,000 to over $27,000 at publishing time. However, the cryptocurrency has been…

Crypto markets rebounded by 83% in Q1 2023 data shows

On-chain data released by Messari, focusing on the layer-1 blockchain ecosystem analysis during Q1 2023, show that the market capitalization of the leading chains rebounded by 83%. Ethereum and BNBChain emerged as the most deflationary networks in Q1 2023. Ethereum leads rebound The cryptocurrency market experienced a rebound in Q1 2023, witnessing an average increase of 83% quarter-on-quarter (QoQ) in the market capitalization of the featured layer-1 blockchains. However, despite this recovery, their market cap remains down by 58% year-on-year (YoY), the researchers note. Among the featured L1s, Ethereum emerged…

Crypto markets ‘lackadaisical’ as institutional buying slows — Novogratz

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Galaxy Digital CEO Mike Novogratz has described the broader crypto market as being “lackadaisical” — or lacking enthusiasm — due mainly to a shying away of institutional investors from cryptocurrencies. In a June 1 interview with CNBC, Novogratz said that while the relatively small retail buyers add some stability to the market with their modest holdings, the lack of large-scale buyers is becoming a concern. Mike Novogratz on CNBC Market Alert  Source: CNBC“There’s a constant bid from retail. We’re seeing it through all the platforms, and there’s just not a…

EU officials sign Markets in Crypto-Assets framework into law

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Officials with the European Union have signed the Markets in Crypto-Assets, or MiCA, bill into law following final approval from finance ministers. On May 31, Sweden’s minister for rural affairs, Peter Kullgren, and European Parliament President Roberta Metsola signed the long-anticipated cryptocurrency regulatory framework into law roughly three years after the European Commission introduced the measure. Lawmakers in the EU had batted the MiCA framework from legislative body to body, with different aspects of the bill subject to debate, before reaching final approval in 2023. EU news MiCA has been…

European Markets Open Higher Following US Debt Ceiling Deal

European stock markets were higher in pre-trade amid impending Congress vote on the proposed US debt ceiling bill. European markets opened higher on Monday following the US debt ceiling deal between President Joe Biden and House Speaker Kevin McCarthy. Over the weekend, the two high-ranking politicians finally agreed to raise the US debt ceiling, thereby preventing a default. In light of the deal, Biden and McCarthy now seek to convince Congress to approve implementation in the coming week. European Markets Respond Positively to US Debt Ceiling Development Following Choppy Week The development…