Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Market picture
Crypto market capitalisation fell a further 1.6% overnight to 1,137 trillion. A brief dip in the morning to 1,113 took the market to its lowest level in almost two months. Bitcoin is down 1.7%, Ethereum is down 1.2%, with the top altcoins losing between 0.8% (Cardano) and 7% (Bitcoin Cash).
Bitcoin slipped to $28.3K in light trading early Thursday morning before stabilising at $28.6K. The fall below $28.8K confirmed the local dominance of the bears. The following key support points are now at the next round level of $28K and then at the $27.2K area, where the 200-day moving average and uptrend support from last November are centred.
Ethereum pulled back below $1800 and tested its 200-day moving average. It bounced steadily from this level in March and June. Given the bearish sentiment in global markets and rising government bond yields, the chances of a drop to the previous lows of $1630 are increasing.
News background
The new SEI crypto token surpassed $1.6 billion in trading volume overnight. The token beat major crypto assets such as XRP, BNB and Dogecoin (DOGE) in turnover. The SEI launched its Sei Network blockchain project on Tuesday. The developers are positioning it as a network for high-frequency trading applications with high transaction processing speeds.
Tron co-founder Justin Sun described himself as a “Bitcoin supporter” and said he owns more than 100,000 BTC.
According to an agency report, the Federal Bureau of Investigation seized $1.7 million in various digital assets between March and May 2023.
Coinbase Exchange received a CFTC’s Futures Commission Merchant licence allowing crypto-based futures trading access to select US customers.
Observers noticed the movement of 1,005 BTC from the sleeping 13-year-old wallet, and some cryptocurrency community members even thought Satoshi Nakamoto had moved the coins.
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.