First Mover Asia: Bear Market? Taxes? Crypto’s Allure in India Grows, KuCoin Survey Finds; Bitcoin Continues Holding Pattern Over $21K

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Despite regulatory hurdles that Indians face to invest in or trade crypto, they remain upbeat about investing in digital assets and the sector’s outlook, a kucoincom survey has found; BTC and ETH trade sideways. shauryamalwa and JPRubin23 report

Ten-year Treasury yield daily close: 3.11%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 atCrypto jitters continued Wednesday as Federal Reserve Chair Jerome Powell's next public comments about inflation and the economy neared.

"Bitcoin is not at the bottom and the crypto winter is not turning to spring quite yet," Stefan Rust, CEO of Layer1 blockchain and incubator Laguna, said in an email. Other major altcoins were mixed with AVAX and SHIB slightly on the reddish side but ATOM rising more than 7%. Markets have been running in place this week until Powell offers some hoped-for hint about the pace of the Fed's next interest rate hike. Minutes from last month's Federal Open Market Committee meeting have suggested that the bank will approve a third consecutive 75-basis point rate hike, although most indicators lately point to an economy slowing but not headed for recession – moderate enough to merit a dovish touch likely to please markets.

 

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