News Formal

Fed rate pause triggers traders’ pivot to stocks — Will Bitcoin catch up?

  • 📰 Cointelegraph
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 51%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Equities markets are lifting off to new year-to-date highs while Bitcoin price action remains out of sync with the trend. noshitcoins explains why.

the rally to come under pressure in the second half of 2023 “if growth stalls in absolute terms."

OKX, for instance, provides a margin-lending indicator based on the stablecoin/BTC ratio. Traders can increase their exposure by borrowing stablecoins to buy Bitcoin. On the other hand, Bitcoin borrowers can only bet on the decline of a cryptocurrency’s price.The above chart shows that OKX traders’ margin-lending ratio has been declining since June 10, indicating the overwhelming dominance of longs is over.

The opposite movement happened at Binance, as top traders reduced their long-to-short ratio to 1.18 on June 15 but subsequently added longs, and the indicator stands at 1.25. Albeit an improvement, Binance’s top traders' long-to-short ratio is presently in line with the previous two-week average.Bitcoin’s price gains are capped despite resilience in derivative metrics

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 562. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian stocks pause rally, eyeing China stimulus, Powell testimonyInvestors are looking ahead to China's rate decision and Fed testimony from Jerome Powell.
Source: Reuters - 🏆 2. / 97 Read more »

Stocks rally stalls, eyes Powell testimony for rate cluesInvestors are looking ahead to China's rate decision and Fed testimony from Jerome Powell.
Source: Reuters - 🏆 2. / 97 Read more »

Stocks rally stalls, eyes on Powell testimony for US rate cluesInvestors are looking ahead to China's rate decision and Fed testimony from Jerome Powell.
Source: Reuters - 🏆 2. / 97 Read more »