408 days ago
Bitcoin jumped over the last few days in light of tumbling US Treasury yields and uncertainty in the banking sector. It has now advanced by 60% this year alone. All eyes will be on the Fed next week, which could add volatility to Treasury yields and in turn Bitcoin.
523 days ago
Bitcoin is retesting its lows of two weeks ago and looking at technicals, as long as it doesn't cross around USD15'660 it shouldn't be headed lower. The next leg lower or higher should depend on the next phase of contagion (or not) of FTX's bankruptcy on other industry players. For instance, Genesis is attempting to raise funds at the moment to avoid being forced to file for bankruptcy.
534 days ago
As Sam Bankman-Fried quit FTX and filed the company bankruptcy, the crypto market suffered more selling pressure, as investors anticipate liquidation and crypto withdrawals could weigh on prices for longer. Bitcoin alone the largest crypto is down 4.62% in the past 24 hours and down 21.31% in the past 7 days. FTX Token the crypto which is directly tied with the company is down 22% in the past day, and the token is worth just $2.8, from a peak of $80 a year ago.
537 days ago
Bitcoin fell to as low as USD17'484, the lowest level since Nov. 2020, after Binance, the world's largest crypto exchange, said it had signed a letter of intent to acquire the non-US assets of rival FTX, which faces a "significant liquidity crunch." Many crypto-related stocks such as Robinhood, Silvergate, and Coinbase fell as investor confidence in crypto took a hit.
544 days ago
Markets are steady this morning, ahead of the Fed interest rate decision and press conference. Bitcoin is forming what appears to be a descending triangular pattern with prices flirting with the top of the descending pattern. A move above around USD20'600, or taking out the highs from the last few sessions, would be very encouraging, from a technical perspective.
