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NEW DELHI: Major cryptocurrencies traded lower on Friday as the US regulator delayed the approval of Bitcoin ETFs. This has dented the sentiments of crypto investors. However, digital tokens, pegged with dollars, showed signs of resilience. Majority of the top 10 digital tokens were trading with cuts at 9.30 hours IST. The Securities and Exchange Commission (SEC) said in a regulatory filing that it will seek public comments on a proposal to list Bitcoin ETFs on Cboe Global Markets Inc…. Source link

Bitcoin traded lower as investors unpacked Wednesday’s announcement from the U.S. Federal Reserve that it could raise interest rates by late 2023. Assets deemed to be risky like stocks and crypto also appear to be weighed down by lingering concerns that the Fed may wind down its bond-buying program sooner than expected.  Some analysts, however, expect bitcoin to remain resilient if inflation continues to rise, which could lead to outperformance versus traditional markets.  In a newsletter… Source link

Aurich Lawson | Getty Images Last week, El Salvador’s government passed a law to accept bitcoin as legal tender alongside the US dollar. The country receives $6 billion in remittances per year—nearly a quarter of its gross domestic product—and the hope is that bitcoin’s lower transaction costs could boost that amount by a few percentage points. The move was first proposed by the country’s president, Nayib Bukele, who said he hoped… Source link

TipRanks 3 Big Dividend Stocks Yielding 7%; Analysts Say ‘Buy’ Inflations fears are rising, along with the price of gasoline and lumber and milk – and, oddly, the unemployment rate. The initial unemployment claims ticked up last week, even as the number of job openings reached a record high level. Between the COVID relief bill, the infrastructure proposal, and a jobs act, the Biden Administration’s spending plans are totaling $6 trillion. And with economic activity reopening after the… Source link

Litecoin remains in a bearish posture from a macro perspective following yet another gruelling lower high following last month’s 75% correction. Litecoin is now the 12th largest cryptocurrency with a market cap of $11.2 billion. It has now formed three consecutive lower highs at $206, $195 and $180, indicating that investors are losing interest in the asset. Trade volume has also dropped off significantly, with it recording just $2 billion of the past 24-hours compared to last month when it… Source link

According to the stock-to-flow deflection chart, today, bitcoin is the most undervalued with respect to the last 10 years of its history. A similar situation occurred in the middle of the 2017 bull market. After which, the BTC price continued its exponential growth. Additionally, bitcoin is deviating from its 11-year uptrend line. The deviation reaches 36% negative. This gives an additional signal that the value of BTC is undervalued and also shows room for upside. The peaks of previous bull… Source link

Bitcoin traders and investors are still reeling from a steep sell-off that’s wiped around $1 trillion from the combined cryptocurrency market. The bitcoin price has crashed from almost $65,000 per bitcoin to under $40,000 despite a flood of positive bitcoin news in recent weeks—including Twitter TWTR chief executive Jack Dorsey teasing a bitcoin payments plan. Now, analysis of bitcoin trading data has suggested the bitcoin price could be hit by a so-called “short squeeze”—when… Source link

Ethereum Ethereum slid by 6.91% on Wednesday. Following a 1.51% fall on Tuesday, Ethereum ended the day at $2,367.73. A mixed start to the day saw Ethereum rise to a mid-morning intraday high $2,555.00 before hitting reverse. Falling short of the first major resistance level at $2,620, Ethereum slid to a late intraday low $2,351.01. Ethereum fell through the first major support level at $2,487 and the second major support level at $2,430 to end the day at sub-$2,400 levels. At the time of… Source link