Tag: Markets

How slow US job growth could boost markets

Since the economic effects of the COVID-19 pandemic, the job market in the United States has been making gradual progress toward recovery. Despite recent encouraging job growth, it has yet fully returned to pre-pandemic levels. Nevertheless, the crypto market has benefited despite the gradual rebound. Slow US job growth and crypto According to the most recent employment data, the United States created 236,000 jobs in March, more than the forecasted 228,000 jobs. Even though this seems like a slight divergence, it is essential to remember that these figures can significantly impact…

dYdX winds down Canada operations, more exchanges exit North America markets

The decentralized derivatives exchange, dYdX, announced on April 7 that it would no longer provide its services in Canada. As of April.7, the registration of new users was disabled. Current users can continue trading on the dYdX platform for the next week. After the April 14, they can only exit their current positions. However, withdrawals will still be available. It has been hypothesized that a shift in the regulatory climate was the primary factor for dYdX halting their services to Canadians.  We hope that the current regulatory climate in Canada will…

Smaller investors can have outsized impact on crypto investment markets: BIS study

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The Bank for International Settlements (BIS) has released a working paper examining “crypto carry” — the differences between Bitcoin (BTC) and Ether (ETH) spot and futures prices — and its effect on crypto investment markets. The complex paper sheds light on the behavior of crypto investors, particularly smaller investors, in relation to boom and bust cycles. “Carry” describes the results of “going long in the spot market, while selling forward the same amount forward via a futures contract.” The paper bases its findings on “stylized facts” based on a variety…

BTC Drops Below $28,000, as Markets Consolidate on Thursday – Market Updates Bitcoin News

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Bitcoin was once again trading below $28,000, as markets consolidated ahead of Friday’s non-farm payrolls report. Payrolls are expected to come in at 240,000 for last month, with the unemployment rate in the U.S. remaining at 3.6%. Ethereum was also lower today, following an eight-month high on Wednesday. Bitcoin Bitcoin (BTC) was once again trading under $28,000 on Thursday, as markets began to prepare for tomorrow’s non-farm payrolls report. BTC/USD dropped to an intraday low of $27,831.56 in today’s session, which comes less than 24 hours after trading at a…

BLUR Token Plummets Over 28% in March, Despite Blur’s Dominance in NFT Sales Market – Markets and Prices Bitcoin News

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While the non-fungible token marketplace Blur has captured a significant amount of the market share in terms of NFT sales, the market’s native token, BLUR, lost more than 28% in value last month. At present, BLUR tokens are down more than 88% since the crypto asset’s all-time high recorded on February 14, 2023. Blur’s Native Token Slides 28% Against the Greenback in 30 Days The NFT marketplace Blur has captured a majority of the NFT sales over the past month, according to metrics from dappradar.com. Additionally, according to data from…

US CFTC sues Binance, crypto markets contract, ex-FTX boss faces fresh allegations

This week, like it has been the trend, regulators in the United States didn’t slow down. The Commodity Futures Trading Commission (CFTC) formally brought charges against Binance, alleging breaches of the Commodity Exchange Act. Despite the markets contracting, gains posted in the preceding week remained intact. Meanwhile, fresh revelations emerged on the ongoing FTX case. A deluge of regulatory actions The global trend of strengthening regulatory oversight for cryptocurrency has been gaining momentum. Financial regulatory bodies around the globe aim to offer clear guidance to the fledgling industry and protect…

BTC Nears $29,000 to Start April, as ETH Also Rebounds – Markets and Prices Bitcoin News

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Bitcoin was back in the green on Saturday, as prices moved close to the $29,000 level to start the weekend. Following a volatile session on Friday, cryptocurrency markets were mostly higher entering April. Ethereum moved back above the $1,800 level. Bitcoin Bitcoin (BTC) rose towards $29,000 on Saturday, as markets continued to react to yesterday’s personal consumption expenditure (PCE) figures in the United States. PCE climbed to 0.3% in March, less than the 0.4% markets were expecting, showing that inflation was slowing. BTC/USD rose to an intraday high of $28,802.46…

Bitcoin plunges below $28k amid market’s recent dip

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Bitcoin (BTC), the world’s largest cryptocurrency, has suddenly dropped in value, slipping below $28,000 to trade at $27,953 on March 31. This decline represents a 4.1% decrease from its 90-day high of $29,159 reached just the day before on Mar. 30. BTC daily price chart | Source: CoinMarketCap The market capitalization has also taken a hit, shrinking to $1.17 trillion, a nearly 2% drop within 24 hours.  As we analyze this recent downturn, let’s explore possible reasons for the decline and potential future movements. Key trading range and support levels…

Cointelegraph Markets Pro’s 390% gain dwarves Bitcoin’s 33% rise

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In Cointelegraph Markets Pro’s latest VORTECS™ Report, the institutional-grade crypto trading platform displayed how its members could have captured a cumulative 390% gain by following seven trades based on four different advanced data indicators. The report depicts trading alerts generated between March 11 – 18, 2023.  The potential gains available to Cointelegraph Markets Pro subscribers significantly outperform a simple buy-and-hold strategy during the same period, which would’ve yielded holders of Bitcoin (BTC) a 33% gain. Cointelegraph Markets Pro uses indicators such as the VORTECS™ Score, NewsQuakes™, Most Active On-Chain and…

UAE Central Bank Implements Digital Currency Strategy – Emerging Markets Bitcoin News

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The central bank in the United Arab Emirates said it has started implementing its digital currency strategy with partners G42 Cloud and R3. According to the central bank, the digital currency initiative is expected to “further position and solidify the UAE as a leading global financial hub.” CBDC Strategy to Focus on Three Pillars The United Arab Emirates (UAE) central bank recently said it would start implementing its digital currency strategy with its two partners G42 Cloud and R3. According to a report, the UAE’s apex bank’s two partners are…