Market Wrap: Cryptos Mixed Amid Global Uncertainty

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MARKET WRAP: Bitcoin $BTC price gains were short-lived, while ether $ETH continued to underperform. Markets could rise if war-related conditions ease.

Ten-year Treasury yield daily close: 2.00%

Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index ; Ether is the CoinDesk Ether Price Index ; Gold is the COMEX spot price. Information about CoinDesk Indices can be found atEther , the world's second-largest cryptocurrency by market capitalization, is down 20% over the past 30 days, compared with a 12% drop in BTC over the same period.

"The ETH/BTC cross has continued to trend lower to 0.066. Since early February, we have seen an 8% decline in the ETH/BTC cross, which we often use as a risk barometer for crypto assets more broadly," Coinbase Institutional wrote in an email on Friday."What it seems to be telling us is that risk appetite away from the perceived 'safe havens' of the asset class is still somewhat low.

The chart below shows that the ETH/BTC price ratio is below its 40-week moving average, which is similar to what occurred during the 2018 crypto bear market.Fir Tree Capital Management, a hedge fund with $4 billion in assets under management, has made a sizable short bet against the stablecoin tether , according to a Bloomberg report on Friday. The position was structured as an"

 

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Markets will rise irrespective of war-related conditions during times of war people invest in gold or the new found digital gold Bitcoin. Sticking to the fundamentals here, we are only going to go higher. Keep in mind last year the biggest tech companies in the world entered.

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