-- Bitcoin trails traditional assets in August as the month draws to a close, hampered by ebbing liquidity and lingering worries that governments may sell from their stockpiles of the cryptocurrency.The US, China, the UK and Ukraine are potential sources of such disposals, as are creditors receiving tokens from the collapsed Mt. Gox digital-asset exchange, research company Kaiko wrote in a note. That’s part of a possible $33 billion overhang of Bitcoin supply, according to the analysis.
“Spot market volumes for Bitcoin remain subdued, contributing to recent choppy price action,” Sean Farrell, head of digital-asset strategy at Fundstrat Global Advisors LLC, wrote in a note. Seasonal trends suggest activity typically picks up after Monday’s US Labor Day holiday, he added.
Combined daily trading volume for the US Bitcoin ETFs has dropped to less than $2 billion from a peak of more than $10 billion in March, according to data compiled by Bloomberg. GENEVA — The Swiss city of Basel will host next year's Eurovision Song Contest from May 13 to 17, organizers announced Friday.Full-time workers could get right to four-day weekMan caught upskirting at British Museum by off-duty officer jailed
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Source: CryptoAmb - 🏆 22. / 68 Read more »