Bitcoin stuck at $28K

Expert market comment from senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Bitcoin stuck at $28K

FxPro | 1193 ngày trước

Market picture

Bitcoin is down 1.3% over the past week, finishing around $27,800. Ethereum lost 2.7% to $1760. Other leading altcoins from the top 10 showed mixed dynamics: from a decline of 8.2% (Polkadot) to a growth of 13.6% (XRP).

Total crypto market capitalisation, according to CoinMarketCap, fell 1.4% to $1.16 trillion over the week.

Bitcoin had updated 9-month highs to around $28,900 but corrected in the second half of the week.

As a result of another recalculation, bitcoin's mining difficulty rose by 7.56%. The figure renewed its all-time high at 46.84 T. The average hash rate was 335.23 EH/s. Correlated metrics have increased by more than 30% since the beginning of the year.

News background

Tether technical director Paolo Ardoino said the company has about $1.6 billion in excess reserves to support its stablecoin USDT. In his view, amid the banking crisis and global economic uncertainty, bitcoin may well surpass its previous record high of $68,000.

The Fed's board of directors has once again rejected Custodia Bank's application for membership, indicating that the bank's business model does not meet the goals set out in the Federal Reserve Act.

JPMorgan bank said the US banking crisis has opened up opportunities to increase market share for some crypto exchanges by offering banking services to cryptocurrency firms and investors.

German securities processing giant Deutsche Wertpapier Service Bank AG (dwpbank), which manages 5.3 million customer accounts for various banks, has launched wpNex, a bitcoin trading platform.

Nasdaq, the operator of the stock exchange of the same name, has announced plans to launch cryptocurrency storage services by the end of the second quarter of 2023.

By the FxPro analyst team

FxPro

4.5

440 đánh giá

Loại: NDD

Cơ quan quản lý: FCA (UK), SCB (The Bahamas)

Thẻ: Phân tích

Oil Enters July on a Knife Edge

Oil ended June with a dramatic reversal as markets shifted from pricing a lasting supply shock to anticipating a gradual recovery in Middle Eastern exports. Yet shrinking inventories, fragile supply chains and unresolved geopolitical risks suggest volatility is far from over, leaving Brent highly sensitive to any disruption or diplomatic setback.

Headway | 7h 20phút trước

Today Technical Analysis: Gold rebounds back above $4,000 as the dollar index faces strong resistance

Gold has regained bullish momentum after rebounding strongly from the $3,942 support area. Price is trading above the 20-period moving average, while the 5 and 10-period moving averages have crossed back above the MA20, confirming a renewed short-term uptrend.

STARTRADER | 9h 13phút trước

Today Fundamental Analysis: US indices start the month weaker as tech sell-off continues

U.S. stock futures turned lower after early gains as investors waited for the June U.S. jobs report, a key release that could shape expectations for the Federal Reserve’s next policy move.

STARTRADER | 10h 9phút trước

U.S. 2-Year Yield Holds Key Level Before Payrolls

The U.S. 2-year yield enters July 2 in a holding pattern before the June payrolls report. This part of the curve is the market’s cleanest proxy for Federal Reserve expectations, so today’s jobs data can quickly reset pricing for July, September, and year-end policy risk.

Errante | 11h 9phút trước

Yen spikes ahead of US jobs report as Warsh gives little away

Fed’s Warsh keeps investors guessing but cites lower inflation risks. Yen spikes higher on suspected intervention. Dollar lacks direction after mixed US data and ahead of June NFP. Oil slips further as progress seen in US-Iran talks. Chip stocks back under pressure, gold edges up.

XM Group | 13h 5phút trước