Trading


Markets

Bitcoin Drops 5%, Slipping Below $50K on Leverage Washouts

Some $187 million of crypto trading positions were liquidated over the past 24 hours.

24-hour Bitcoin Chart (Messari)

Markets

Bitcoin Struggles Near Resistance; Support at $53K

Long-term momentum is starting to fade, which could limit price gains this month.

Bitcoin four-hour price chart shows support/resistance levels with RSI on bottom panel (Damanick Dantes/CoinDesk, TradingView)

Markets

Goldman Sachs Sees Crypto Options Markets as ‘Next Big Step’ for Institutional Adoption

While CME Group’s bitcoin futures contracts initially lured in Wall Street firms, Goldman’s head of crypto trading says options are “more versatile.”

Goldman Sachs to Offer Bitcoin to Wealth Management Clients

Markets

Bitcoin Rangebound Between $55K Support and $60K Resistance

The intermediate-term uptrend remains intact.

Bitcoin daily price chart (Damanick Dantes/CoinDesk, TradingView)

Markets

Polygon’s MATIC Token Jumps After 21Shares ETP Listing

At press time, the token was up 16% in 24 hours. Are cryptocurrency markets repricing “layer 2″ tokens?

Latest rally for Polygon's MATIC token can be seen as the tall green candle on the right, on the daily price chart. (TradingView)

Markets

Bitcoin Turns Lower as Fed Chair Suggests Inflation No Longer ‘Transitory’

Federal Reserve Chair Jerome Powell’s turnabout suggests the U.S. central bank might move more quickly to tighten monetary policy – potentially a negative for speculative assets including bitcoin.

Federal Reserve Chair Jerome Powell testifies Tuesday before the U.S. Senate Banking Committee. (C-Span)

Markets

Axie Infinity Finds Ready Players in Hyperinflation-Racked Venezuela

As they have in the Philippines, some players are making enough money to feed their families.

Bolívar Avenue in Maturín, the city in Venezuela where Axie player Juan Tirado lives. (Cesar Pérez via Wikipedia)

Markets

Bitcoin Struggles at $60K Resistance; Support Above $53K

Short-term downside is likely into the Asia trading day.

Bitcoin four-hour price chart shows short-term resistance levels with RSI in second panel. (Damanick Dantes/CoinDesk, TradingView)

Markets

Junk-Rated El Salvador’s ‘Bitcoin Bonds’ Look Explosive (Think Volcano)

Anyone buying Salvador’s bitcoin-backed bond is betting on the cryptocurrency in a very big way, ignoring the country’s distressed-debt situation, one strategist said.

El Salvador President Nayib Bukele announces new "bitcoin bonds" at an event on Saturday. (Samson Mow via Twitter)

Markets

ProShares Bitcoin Futures ETF Wins ‘First Mover Advantage’ as VanEck Launch Falls Flat

The ProShares ETF has $1,4 billion in assets, compared with $8.7 million for the VanEck fund.

Pixabay (Modified by CoinDesk)