Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Market picture
Bitcoin rose 1.3% over the past week, finishing near $19,500. Ethereum added 1.3% to $1320. Other leading altcoins from the top 10 showed mixed dynamics, from a decline of 2.8% (BNB) to a growth of 17.2% (XRP).
Total crypto market capitalisation, according to CoinMarketCap, increased by 1.7% over the week to $944bn. The cryptocurrency Fear & Greed Index declined by 2 points over the week to 22 and remained in "extreme fear" mode.
Bitcoin has been declining in the past week, following the stock market, but has moved rather reluctantly. BTCUSD remained above the lower end of last month's trading range. This could be a continuation of buyers' optimistic mood or a manifestation of crypto's secondary nature, which is waiting for signals from equities. The last month has made the crypto market look more stable than the equity market, even if it’s lethargic.
News background
According to CryptoQuant, the mass movement of stablecoins to exchanges could signal that the crypto market is growing. However, the opposite process is now happening, with only about 25% of Tether (USDT) being on trading platforms.
According to the Ontario Securities Commission, more than 30% of Canadians plan to buy crypto assets soon, and the regulator sees no need to counteract their intentions.
FTX – one of the largest crypto exchanges – will launch a Visa debit card in more than 40 countries in Latin America, Europe, and Asia.
Binance could spend more than $1bn on investments in the crypto industry by the end of the year, the exchange's head, Changpeng Zhao, said.
About the author
Alex Kuptsikevich is a financial market professional with 16-years’ experience and a senior financial analyst at FxPro. He is the author of daily reviews on the impact of economic events with comments featured in top international and Russian media. Alex covers fundamental analysis, global markets, the foreign exchange market, gold, oil, and cryptocurrencies in his analytical pieces. As the senior financial analyst at FxPro, Alex is a guest expert in 1-tier global media such as Forbes, Coindesk, Euromoney and Morning Star.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.