The largest cryptocurrency by market cap is likely to remain stubbornly rangebound a little above $29,000, market analysts believe.
First Mover Asia: Bitcoin Turns Range-Bound Again Amid an Absence of Fresh Capital; Altcoins Dip Further Into Red
PLUS: A spot bitcoin ETF may be in the offing, and crypto prices are unpredictable, but MicroStrategy “still fills a need in the marketplace,” the president of crypto asset fund ProChain Capital told CoinDesk TV.
Bitcoin Seesaws Back Over $29.2K, as Investors Brush Off Binance Angst; BCH, UNI, LTC Sink
BTC returned to its rangebound ways a day after it rose suddenly and then subsequently dropped as dramatically.
Bitcoin Rebounds to $29.2K, Recovering From DeFi Fears; CRV Jumps 5%, XRP Rises
CRV was up more than 5% after Tron blockchain founder Justin Sun purchased more than $2 million of the token. ETH, SOL remained in slightly negative territory despite climbing in recent hours.
Bitcoin Lingers Near $29.2K, as Investors Mull Latest Industry Woes; CRV Sinks 12.5%
Crypto Catalysts: Jobs Data to Highlight the Week’s Macro Releases
Among other reports, investors will be eyeing ADP’s private sector jobs total, which last month, soared beyond expectations, a concern for central bankers and other inflation watchers.
Bitcoin Dips Below $29.2K After Curve Exploit but Continues Its Range-Bound Ways; ETH, SOL, MATIC Sink
BTC hovered comfortably over $29,300 for much of the weekend but dropped in the hours after Curve Finance tweeted that it had suffered an exploit.
Bitcoin Wobbles, Then Regains Its Balance Above $29.2K; ETH, DOGE, MATIC Fall
The largest cryptocurrency ticked down for a couple of hours after a report that the Bank of Japan was mulling a change to its yield curve control policy before regaining ground.
Bitcoin Surpasses $29.6K After Fed’s Rate Hike; CoinDesk Market Index Jumps 1.2%
A few more Fed rate hikes are likely, but “the hardest work is done,” one expert said.
Bitcoin Stuck Below $30K Before Likely Fed Rate Hike, While DOGE Spikes 9%
Except for the popular meme coin, which was recently up more than 10%, the largest cryptos by market cap were largely unchanged over the past 24 hours as investors awaited a likely 25 basis point increase from the U.S. central bank.
Crypto Catalysts: Likely Rate Hike on the Menu as FOMC Begins Latest Monetary Policy Deliberations
The U.S. central bank has been telegraphing its intent in the weeks after halting rate increases last month for the first time in over a year. ThePersonal Consumption Expenditures report arrives Friday, but cryptos and other risk-on assets have been largely immune to macro events.
First Mover Asia: XRP, XLM Climb While Bitcoin Trudges Below $30K
PLUS: Ripple’s partial victory last week in its ongoing legal feud with the Securities and Exchange Commission left important questions unsettled for token issuers, a crypto lawyer told CoinDesk TV.
Crypto Catalysts: Investors to Weigh Jobs, Retail Sales, Production Data for Latest Inflation Signals
The jobs market remains strong, a concern for the U.S. central bank which seems intent on raising the Federal Funds rate 25 basis points.
First Mover Asia: Bitcoin Holds Steady Over $30K as Inflation Data, Macro Issues Leave Investors Increasingly Unmoved
ALSO: Former CFTC Chair Timothy Massad told CoinDesk TV that regulatory agencies “don’t have to resolve” the stubbornly troublesome issue whether cryptos are commodities or securities.
Crypto Catalyst Watch: June CPI, PPI Readings Hold the Spotlight
The CPI sank to 4% in May and has been trending downward, although the Federal Reserve seems likely to follow through on an intended rate hike later this month.
Bitcoin Falls Back Below $31K After Late Monday Surge
The head of research for digital asset manager 3iQ wrote that the largest cryptocurrency by market capitalization is still riding tailwinds from multiple spot bitcoin ETF filings and other June events.
Kraken Co-Founder Jesse Powell Under Federal Investigation on Claims of Hacking, Cyberstalking Non-Profit
The agency searched the Los Angeles home of Jesse Powell as it probes whether he had interfered with computer accounts of the non-profit. A lawyer for Powell said he’s done “nothing wrong” and that the matter does not touch on his crypto interests.
Bitcoin Hovers Over $30.3K Despite Renewed Inflation Worries
In comments Thursday at a Madrid event on financial stability, Fed Chair Jerome Powell said that “it will take time for the full effects of monetary restraint to be realized.”
First Mover Asia: Bitcoin Retreats, Quickly Regains $30K Perch as Investors Mull ETF Timing, Inflation
ALSO: Fast-paced, entrepreneurial Seoul ranked fourth globally in CoinDesk’s crypto hub series. Korea’s digital asset friendly, regulatory environment and a vibrant retail community have helped enabled the industry’s rising prominence in the city.
Los Angeles: Where Hollywood Magic and Creativity Meet Web3
The City of Angels is a global influencer in art, fashion and, especially, entertainment. Less known are its significant contributions in technology innovation. Together, the No. 11 spot on CoinDesk’s Crypto Hubs 2023 is a Web3 power. Plus it has the best movie stars.