Market Wrap: As Traditional Markets Rally, Bitcoin Gets Boring

Bitcoin broke above $9,250 for the first time since Friday as the leading cryptocurrency continues to trade in a tight range just above $9,000 for several weeks. But cryptocurrency markets have stayed quiet as traders expect a big move. Bitcoin was trading hands around $9,250 as of 20:00 UTC (4 p.m. ET).  Ether, the second-largest […]

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Market Wrap: Bitcoin Quiet at $9.3K While DeFi Gets Loud

It’s a lethargic Thursday across most markets, including bitcoin. Yet, on a longer-term view, the big growth story remains the Ethereum network’s DeFi movement, which continues to help drive ether’s performance in 2020.  Bitcoin (BTC) was trading around $9,395 as of 20:00 UTC (4 p.m. ET), gaining 0.97% over the previous 24 hours.  At 00:00 […]

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Market Wrap: Bitcoin Slides, Stocks Tread Water on Trump China Comments

Bitcoin declined for the first time in three days as traders in digital-asset markets and more traditional stocks considered the implications of U.S. President Donald Trump’s latest broadsides against China on the coronavirus and Hong Kong.  Bitcoin (BTC) was changing hands around $9,400 as of 20:00 UTC (4 p.m. ET), slipping less than a percent […]

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Market Wrap: Crypto Mining Stock Hut 8 Jumps on Unusually High Trading Volume

Shares of cryptocurrency mining firm Hut 8 Mining Corp. (TSX:HUT) surged 32 percent with unusually high trading volume on the Toronto Stock Exchange Friday.  The huge, surprising bounce for the stock arrives after the firm warned earlier in April that coronavirus-related issues might hurt its business.  Like cryptocurrencies themselves, mining company stocks are prone to […]

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Market Wrap: Bitcoin Price Volatility Declines in Contrast to S&P 500

You know things are weird when bitcoin is getting less volatile and stocks aren’t. After surging about a month ago during a frantic sell-off, the 30-day volatility of daily returns from the leading cryptocurrency has dropped in recent days, and is almost back to where it was before the panic started in early March. Volatility […]

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Bitcoin Tests $7K as Spot Trading Volumes Subside to Normal Levels

After weeks of elevated activity, trading volumes on spot bitcoin exchanges have subsided, boding well for some traders if not the venues themselves. Prices for bitcoin (BTC) climbed less than a percent Tuesday, retracing gains lost the day before when it hit a one-week low, according to CoinDesk’s Bitcoin Price Index (BPI). The price of […]

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Bitcoin Drops as Traders See Bearish Signals in Futures Markets

Bitcoin slid Monday to its lowest point in the past seven days, with traders saying bearish signals are appearing after the cryptocurrency’s 30 percent rebound from a market bottom in mid-March. After recovering from the depths of the coronavirus-induced sell-off, bitcoin repeatedly failed to break above a price of $7,400.  Bitcoin (BTC) prices fell Monday […]

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Profit-Taking Keeps Bitcoin in Tight Range as Fed Reopens Spigot

Bitcoin and ether fell slightly Thursday as traditional markets climbed on additional stimulus measures by the U.S. Federal Reserve and Bank of England.  Over the past 24 hours, bitcoin (BTC) was down 1 percent Thursday afternoon New York time and ether (ETH) was down 1.2 percent.  Notable gainers on CoinDesk’s big board include dash (DASH) […]

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Traders Finding More Arbitrage Opportunities in Bitcoin

As bitcoin (BTC) experiences vertigo-inducing gains, cryptocurrencies are breaking out of a period where they followed or even lagged behind traditional markets. In fact, prices in the crypto market are seeing such a steep upward trend that arbitrage traders are able to trade between Bitfinex and other exchanges to easily capture profit.  Bitcoin is up […]

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Yields of 25% to 42% Lure Lenders Back to DeFi Platform bZx

Lenders and depositors are coming back to bZx because the decentralized protocol for margin trading is offering significantly higher yields on ether deposits compared to its peers.  The total number of ether (ETH) locked in bZx increased to 24,711 on Thursday, having jumped by over 20 percent from 17,739 to 21,514 on Wednesday, according to […]

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