Featuring views and opinions written by market professionals, not staff journalists.Of the cryptocurrencies tracked by CoinMarketCap, the best performer for the week was Popcat, rising 63.18%.
Bitcoin and the wider crypto market are nursing sharp losses for the month so far even as global stocks push back toward record highs after shaking off a growth scare over the U.S. economy. The largest digital asset has fallen about 9% in August, reports Bloomberg, lagging a gain of almost 1% in MSCI Inc.’s world share index as well as a jump in gold to all-time highs.
A signal from the Bitcoin derivative market points to the growing risk of a “short squeeze” that can stoke sharp rallies in the largest digital asset. The metric is the funding rate for Bitcoin perpetual futures, which helps to gauge how bullish or bearish speculators are, reports Bloomberg.
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