First Mover Asia: Bitcoin Falls Below $26.5K as Crypto Market Fades Amid Coinbase, Binance Angst

While the financial community eyes jobs data, inflation figures, and the Securities Exchange Commission impacts, one straightforward factor my give more insight into where the price of bitcoin is headed next.

As a primary vehicle for buying crypto assets, the amount of stablecoins on exchanges can serve as a precursor to buying demand. While some notable exchanges offer a “fiat onramp,” meaning the exchange of U.S. dollars directly for crypto, some investors acquire crypto assets via the exchange of stablecoins like USDC and USDT for crypto., the amount of stablecoins held on exchange addresses has declined from 32 billion to 19 billion between January 2022 and June 2023. The price for both BTC and ETH are down 45% and 50% respectively over that time frame.

Increases in the stablecoin exchange balance during the remainder of 2023 will be a likely indication that buying demand is increasing.This article was written and edited by CoinDesk journalists with the sole purpose of informing the reader with accurate information. If you click on a link from Glassnode, CoinDesk may earn a commission. For more, see our

Portugal Últimas Notícias, Portugal Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Biggest Movers: DOGE, SOL Big Losers Following Binance, Coinbase Lawsuits – Market Updates Bitcoin NewsDogecoin was one of the biggest losers in crypto markets on Tuesday, as markets continued to react to the SEC suing Binance and Coinbase.
Fonte: BTCTN - 🏆 531. / 51 Consulte Mais informação »

Bitcoin Rallies Above $27K as Crypto Market Shrugs Off SEC Lawsuits Against Binance, Coinbase$BTC rose over $27K as the wider crypto market rallied, despite SECgov lawsuits against binance and coinbase. $BTC may benefit from the crackdown, spurring investors to ditch altcoins, one observer noted. sndr_krisztian reports
Fonte: CoinDesk - 🏆 291. / 63 Consulte Mais informação »

Bitcoin OG keeps faith in bull market as BTC price bounces 8%Bitcoin wipes out most traces of its Binance and Coinbase losses with BTC price near $27,000. “Time to start the new uptrend to $38-42K on Bitcoin,” Michaël van de Poppe, founder and CEO of trading firm Eight, responded. Van de Poppe referenced the 200-week moving average (MA), an important support level which, at $26,400, was only lost for a few hours.
Fonte: Cointelegraph - 🏆 562. / 51 Consulte Mais informação »