Strengthened US economic data may lead to increased sensitivity in crypto markets, impacting investment strategies and interest rate expectations.
The post Bitcoin funds see $319 million in outflows as US economic data strengthens appeared first on Crypto Briefing.
Investor confidence in Bitcoin ETFs is waning, potentially signaling broader skepticism in the crypto market's stability and future growth.
The post US Bitcoin ETFs shed $277 million over past week amid market downturn appeared first on Crypto Briefing.
Traders could be waiting for Bitcoin to bounce off the $55,724 support opening positions in LTC, FET, MNT and AAVE.
Bitcoin (BTC) price has been reeling under selling pressure and is on target to fall by more than 9% this week. Bitcoin has consistently formed lower highs for the past few months, which is a negative sign. This brings the onus on the bulls to defend the support.
The markets are gearing up for a major catalyst in the form of a September rate cut by the United States Federal Reserve. The FedWatch Tool shows a 30% probability of a 50 basis point rate cut on Sep. 18. Some believe that if that happens, risk assets, including Bitcoin could rally.
Crypto market data daily view. Source: Coin360
Despite recent turbulence in the crypto market, bitcoin’s price continues to carry a premium in South Korea. As of 4 p.m. EDT, bitcoin is trading at $59,002 per unit, but in South Korea, the exchange rate hits $59,900, reflecting a 1.52% premium. Despite First Negative Dip Since Oct. 2023, South Korea’s Bitcoin Premium Continues Interestingly, […]
Bitcoin traders expect BTC to rally if the Fed rolls out a 0.50% rate cut, but hedging these bullish positions is also necessary. Here is how it's done.
Bitcoin (BTC) has repeatedly failed to close above the $62,000 level since Aug. 3 and is currently down 11% over the past 30 days. More notably, the cryptocurrency has decoupled from the S&P 500 index, which is up 1% in the same period and only 1% below its all-time high.
Bitcoin price in USD (right) vs. S&P 500 futures (left), 12-hour. Source: TradingView
Investors expect that risk markets, including Bitcoin, could see significant gains if the Federal Reserve (Fed) cuts interest rates, and professional traders are using BTC options to maximize gains while limiting risks.
Many analysts say a drop in spot Bitcoin ETF demand is the primary reason for BTC’s price weakness, but there’s more to it than that.
Bitcoin (BTC) has struggled to maintain above $60,000 for an entire week, with the latest rejection occurring on Aug. 27. The subsequent 9.9% two-day correction, which saw Bitcoin fall to a low of $57,918 on Aug. 28, resulted in the forced liquidation of $143 million in leveraged BTC longs on derivatives exchanges. Traders are now questioning why Bitcoin keeps failing to break above $60,000.
Some analysts attribute the recent weakness to the disappointing spot Bitcoin exchange-traded fund (ETF) outflows. However, such data is typically reflexive, meaning traders often turn bearish after a news event alters their perception. More crucially, Bitcoin's most recent correction on Aug. 29 coincided with movements in the S&P 500 index.
Bitcoin/USD (left) vs S&P 500 futures (right). Source: TradingView
Bloomberg's integration of Polymarket data into its Terminal highlights the increasing institutional acceptance and relevance of blockchain-based prediction markets.
The post Bloomberg integrates Polymarket data to Terminal appeared first on Crypto Briefing.
TRON's rise and Toncoin's decline could signal shifting investor confidence and market dynamics in the cryptocurrency landscape.
The post TRON’s market cap gains could push Toncoin out of top 10 appeared first on Crypto Briefing.
Nasdaq's move to trade Bitcoin index options could significantly enhance institutional confidence and maturity in the digital assets market.
The post Nasdaq applies to trade Bitcoin index options, awaits SEC green light appeared first on Crypto Briefing.
Professional Bitcoin traders have yet to hop on the wagon after BTC’s weekend rally. Cointelegraph explains why.
Bitcoin (BTC) gained 6.2% on Aug. 23, pushing its price to levels unseen in three weeks, and has since maintained the $63,000 support level. Despite this positive price movement, BTC derivatives traders appear to be relatively unmoved, indicating a lingering skepticism regarding the sustainability of this trend.
Some market participants attributed the ongoing macroeconomic factors as the primary drivers for the crypto market's behavior, with investors eagerly awaiting the United States Federal Reserve’s decision on interest rates in September.
Given that the Russell 2000 small-cap stock index is currently trading 2% below its highest-ever closing in July 2024, it’s challenging to argue that traders have become risk-averse. At the same time, gold, a traditional safe-haven asset that generally benefits during periods of uncertainty, is merely 0.6% below its all-time high.
