Market Wrap: Bitcoin Stabilizes as Traders Prepare for Taproot Upgrade
Analysts expect further upside despite short-term price swings.
Bitcoin Retreats From All-Time High, Ether Follows
The shakeout appeared to coincide with a turn lower in U.S. stock markets.
Rapper Money Man Becomes the First Artist to Receive Advances in Bitcoin
Atlanta-based multi-platinum rapper and entrepreneur Money Man has become the first artist to receive advances in bitcoin. Music label Empire paid its first artist advance in BTC to Money Man worth $1 million through Square's Cash App. Money Man, along with Empire CEO and founder Ghazi, share their insights.
Makara CEO: Bitcoin's Pullback a 'Natural, Healthy Movement in the Market'
Jesse Proudman, CEO of crypto investment advisor Makara, discusses his bitcoin analysis as it retreats from an all-time-high near $69,000. The pullback is a "natural, healthy movement in the market as we continue to move up," Proudman said. Plus, his views on bitcoin as an inflation hedge, buying trends to watch among investors, and reactions to Miami Mayor Francis Suarez's crypto ambitions for the city.
Bitcoin and Stock Markets Demonstrate Stronger Positive Price Correlation Amid Inflation Fear
The closing price of the U.S. stock indexes, alongside bitcoin and ether over seven days, reveals the bearish reaction to rising inflation. The 90-day correlation between bitcoin and the S&P 500 has increased from around zero in June to about 0.3% now, representing a slightly positive price relationship. "All About Bitcoin" host Christine Lee breaks down the Chart of the Day.
Bitwise Withdraws Bitcoin Futures ETF Filing, Citing Cost, Complexity
Bitwise Asset Management has withdrawn the application for its Bitcoin futures ETF, citing what it said are the cost and complexity of such ETFs. The company will instead focus its efforts on its spot bitcoin ETF filing already in the pipeline. "The Hash" squad discusses the story and what it reveals about the pros and cons of investing in ETFs.
Bitcoin Could Find Support at $56K-$60K
Upside momentum is starting to slow, especially given recent overbought signals on the charts.
Investing in Bitcoin Directly May Be Better Bet Than Coinbase: Mizuho
The crypto exchange could face industry headwinds amid the wider adoption of cryptocurrency, Mizuho told clients.
Bitcoin Retreats From All-Time High, Ether Follows
Bitcoin is down 5% in the last 24 hours after peaking at an all-time high of around $68,950 Wednesday. Ether also reached an all-time high Wednesday, hitting $4,851, but is down a little over 2% on the day. Rich Rosenblum, co-founder and president of GSR Markets, discusses the potential factors driving lower prices.
