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The U.S. central bank has been telegraphing its intent to renew rate hikes for weeks. ThePersonal Consumption Expenditures report arrives Friday, but cryptos and other risk-on assets have been largely immune to macro events.
Bitcoin-related funds saw outflows of $13 million over the past week, reversing five weeks of bullish inflows, according to Coinshares analyst James Butterfill.
Digital asset investment products recorded outflows last week for the first time since mid-June, CoinShares reported.
Regulatory uncertainty surrounding Binance, the largest crypto exchange, tends to weigh on crypto prices.
Worldcoin price soared to $3.58 shortly after launching but traders and crypto advocates have many concerns.
MKR looks primed to continue the rally given its recent buyback mechanism and two other key metrics that impact Maker’s price.
Bitcoin price is down today as investors expect the Federal Reserve to raise rates and crypto whales send record amounts of BTC to exchanges.
The latest price moves in crypto markets in context for July 24, 2023.
Bitcoin is at the pivotal 50-day SMA support, and a drop below this level could result in accelerated selling of BTC and altcoins.
One analyst pointed out the $27,000 level could be a short-term target for bitcoin amid the lack of positive news.
- 14:28Web3 game developer M10 secures $3 million in seed fundingWeb3 game developer M10 has completed a $3 million seed round of financing. Investors include the Sui Foundation, GSR, Big Brain Holdings, Monoceros, Blockchain Founders Fund and Presto Labs etc.
- 14:27Ark Invest: Still optimistic about the long-term prospects of Bitcoin, current market sentiment is overly pessimisticNews on March 12, despite the significant market downturn in March, Cathie Wood's investment firm Ark Invest remains optimistic about Bitcoin. On Tuesday, Ark Invest stated in a report: Ark is still optimistic about the long-term prospects of Bitcoin and believes that policy changes and technological breakthroughs in areas such as artificial intelligence and robotics will rekindle spending and increase productivity. Ark Invest also pointed out that relaxed regulation and tax cuts are potential major driving factors for Bitcoin to recover from the current market turmoil. The market has become overly pessimistic about the current macroeconomic and geopolitical sentiment.
- 14:26Trader Eugene: The previous short position of $84,200 has been closed. Short-term operations are only to maintain market feelTop trader Eugene Ng Ah Sio posted on his personal channel that the short positions he opened earlier tonight at $84,200 Bitcoin have been closed. These trades are almost irrelevant to his own profit and loss, but they allow him to better grasp the market pulse and stay sharp when truly needed.