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Bitcoin has failed twice this week to scale the $31,000 mark, with open interest in stablecoin-margined futures rising on both occasions.
ALSO: Former CFTC Chair Timothy Massad told CoinDesk TV that regulatory agencies “don’t have to resolve” the stubbornly troublesome issue whether cryptos are commodities or securities.
Wednesday's CPI report showed sizable decelerations in both overall and core U.S. inflation, which one might've thought would drive BTC's price higher.
Tokens such as AGIX and FET saw modest bump after Musk announced new Artificial Intelligence (AI) company "xAI" to take on ChatGPT.
The latest price moves in crypto markets in context for July 12, 2023.
The bank lifted its MicroStrategy price target to $510, representing 24% potential upside, the report said.
The dollar value of the unlock amounted to 38% of the cryptocurrency's average 30-day trading volume and had potential to push prices lower, per one analyst.
Crypto traders anticipates a big move in bitcoin as Bollinger bands have tightened to the lowest level since early January.
ARK currently owns 11.03 million shares of Coinbase.
PLUS: Chinese Yuan-backed stablecoins are an impossibility.
- 09:56QCP: The current market sentiment remains cautious, and tonight's non-farm employment report is attracting attentionQCP's analysis states that Bitcoin failed to reclaim the $99,000 resistance level, triggering a widespread market sell-off and pushing BTC back to a new low of $95,600. The outlook for cryptocurrencies remains uncertain due to three consecutive days of decline. Meanwhile, in the latest development of Trump relaxing cryptocurrency regulations, it is reported that the U.S. Securities and Exchange Commission is reducing the size of its cryptocurrency enforcement division. This move is expected to promote the establishment of new cryptocurrency working groups and foster more constructive relationships between the U.S. Securities and Exchange Commission and this industry. The release of tonight's non-farm employment report will attract attention; although options lean bullish, market sentiment remains cautious.
- 09:54The probability of Solana ETF getting approved within the year is now reported to be 84% on PolymarketPolymarket market prediction data shows that the probability of Solana ETF being approved in 2025 is currently reported at 84%, with a total trading volume of this prediction contract at $65,739.
- 09:53Securities Regulatory Commission: Supports the issuance of REITs for new infrastructure projects such as artificial intelligence and data centersThe China Securities Regulatory Commission has issued the "Implementation Opinions on Doing a Good Job in the Financial 'Five Major Articles' of the Capital Market". It will increase multi-level bond market support for technological innovation. Promote high-quality development of technology innovation company bonds, optimize issuance registration process, encourage relevant institutions to provide credit enhancement support for technology companies issuing bonds according to marketization and rule of law principles, and explore more tech-innovation themed bonds. Include high-quality corporate tech-innovation bonds into benchmark market-making varieties, increase policy support for exchange pledge-style repurchase discount factor. Explore intellectual property asset securitization business. Support projects such as artificial intelligence, data centers, smart cities and other new types of infrastructure as well as science and technology innovation industrial parks to issue Real Estate Investment Trusts (REITs), promote revitalizing existing assets, support digital transformation of traditional infrastructure.