Crypto SWOT: Bitcoin and the wider crypto market are nursing sharp losses for the month

  • 📰 KitcoNewsNOW
  • ⏱ Reading Time:
  • 50 sec. here
  • 31 min. at publisher
  • 📊 Quality Score:
  • News: 124%
  • Publisher: 78%

Kitco News News

Gold,Silver,Platinum

The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.

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.

Please consider carefully the fund’s investment objectives, risks, charges and expenses. For this and other important information, obtain a fund prospectus by visiting www.usfunds.com or by calling 1-800-US-FUNDS . Read it carefully before investing. Distributed by U.S. Global Brokerage, Inc.

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:

 /  🏆 13. 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.

Crypto whale scoops up 84,000 BTC in July: Bullish market shift?Crypto whales have significantly increased their Bitcoin holdings in the past month, accumulating over 84,000 BTC.
Source: CryptoAmb - 🏆 22. / 68 Read more »

2024 elections: Crypto industry’s $119M bet on pro-crypto candidatesThe crypto’s sector $119 million donation on the 2024 November election: Can it shift the political landscape?
Source: CryptoAmb - 🏆 22. / 68 Read more »