June 2022 / 76 posts found
Bitcoin rises after snapping longest-ever losing streak as investors seek a market bottom
Cryptocurrency Bitcoin rose over the weekend as cryptocurrency investors continue to look for a bottom following a rough six months of selling. The largest cryptocurrency by market cap was higher by 4.6 percent Monday, according to Coin Metrics. Ether advanced nearly 5 percent. Crypto continues to move in tandem with stocks. Futures tied to major stock averages were all higher on Monday morning too. Investors have held their breath while watching prices across risk assets move higher, uncertain if the moves are temporary or if a more permanent reversal is finally here. “Token prices fell 27 percent in May, following a 20 percent […]
Long-Term Correlation Between Bitcoin and Wall Street Waned as BTC Has Better Returns (Report)
Prior to the pandemic, Bitcoin appealed to many as an inflationary hedge due to its low (near zero) correlation with traditional assets such as stocks. However, in recent times, the narrative has taken a 180° turn, owing to macroeconomics shifts. According to a report by 21Shares, Bitcoin and the S&P 500 moved in sync, with their correlation rising to an all-time high of 0.69. This bred uncertainty in the usefulness of crypto assets in portfolio diversification. Bitcoin Correlation to S&P 500 Lower in the Long-term While it does not dispute the coupling of crypto and traditional assets, 21Shares shows that […]
Kraken Daily Market Report for June 04 2022
Bitcoin Bitcoin Overview Daily spot trading volume: $223.3 million, 30 day average spot: $983.5 million. Total futures notional: $72.1 million. The top five traded coins were, respectively, Ethereum (↑1.7%), Bitcoin (↑0.6%), Tether (↑0.03%), USDC (↑0.01%), Solana (↑1.8%). Strong returns from Kintsugi (↑31%), KeeperDAO (↑19%), and Robonomics (↑12%). June 04, 2022 $223.3M traded across all markets today Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD ETH $1803.67 ↑1.7% $71.5M BTC $29850.00 ↑0.6% $41.3M USDT $1.00 ↑0.03% $39.3M USDC $1.00 ↑0.01% $16.8M SOL $38.96 ↑1.8% $11.1M…
Bitcoin ETPs Saw Massive Inflows in May Despite the Crypto Market Selloff Catalyzed by UST’s Depeg Event
Summary: The month of May saw a strong recovery in the inflow of Bitcoin into ETPs, with a total of 9,765 BTC. The flow of BTC into Bitcoin ETPs has also been favorable into June, with the global holdings hitting an all-time high of 205,008 Bitcoin. The Canadian Purpose Bitcoin ETF has led inflows of Bitcoin into ETPs. The month of May 2022 will go down in history as one of the most tumultuous periods in the Bitcoin and crypto markets primarily due to the crypto-wide sell-off kick-started by UST depegging and subsequent massive inflation of LUNA. The events caused […]
Slumping cryptocurrency prices undercut pay cheque trend
Cryptocurrency Cryptocurrency Choose your subscription Trial Try full digital access and see why over 1 million readers subscribe to the FT For 4 weeks receive unlimited Premium digital access to the FT’s trusted, award-winning business news Digital Be informed with the essentialnews and opinion MyFT – track the topics most important to you FT Weekend – full access to the weekend content Mobile & Tablet Apps – download to read on the go Gift Article – share up to 10 articles a month with family, friends and colleagues Print FT print edition delivered Monday – Saturday along with ePaper access […]
China Targets Xinjiang’s Development Park for Introducing Bitcoin Mining in 2018
In a new report, a central leading group for the inspection work of ecological and environmental protection said that ecological and environmental problems in some of the areas of Xinjiang Uygur Autonomous Region and Xinjiang Production and Construction Corps (XPCC) are still prominent, and are not well resolved. The inspecting team revealed that certain localities and departments do not have the necessary understanding of the need for ecological and environmental protection of the autonomous regions. Many entities have reportedly focused on development while neglecting the environmental downsides and blindly launching projects but “failing to manage and control them.” The report […]