Share this article
Market Wrap: Bitcoin Holds Above $20K Amid Light Trading
U.S. equity markets were closed in celebration of the Juneteenth holiday.
Updated May 11, 2023, 6:40 p.m. Published Jun 20, 2022, 8:32 p.m.
The Market Wrap team is out of the office Monday because it's a federal holiday in celebration of Juneteenth, with most traditional markets closed in the U.S. In place of the usual markets summary, here are highlights from Monday's crypto trading:
- Bitcoin (BTC) was recently trading just above $20,100, roughly flat for the past 24 hours. The largest cryptocurrency by market capitalization reclaimed its perch above the $20,000 threshold late Sunday.
- Ether (ETH), the second-largest crypto by market cap, was recently trading just over $1,100, a slight increase over the same period.
- Most other major cryptos were in the green amid light trading.
For the latest cryptocurrency prices, please go here, and for the latest news headlines, please go here.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
In the meantime, check out the most important crypto market stories from last week:
- Fed Announces Biggest Rate Hike in 28 Years: "The labor market is extremely tight, and inflation is much too high," said Chair Jerome Powell.
- Coinbase Lays Off Around 1,100 Employees: The exchange is reducing its workforce by roughly 18%. CEO Brian Armstrong admits the company "grew too quickly."
- Kevin O’Leary Says ‘Panic Event’ Is Needed Before Crypto Bottoms: The strategic investor spoke to CoinDesk ahead of crypto marketplace WonderFi's move to the Toronto Stock Exchange.
- MicroStrategy Defended at BTIG; Saylor Not Expecting Imminent Margin Call: Shares of the technology company have tumbled alongside bitcoin, down 35% over the past few days and nearly 75% so far this year.
- Binance, Kraken and Polygon Accelerate Hiring in Response to Industry-Wide Job Cuts: Coinbase (COIN), BlockFi and Crypto.com are among the crypto-related companies announcing layoffs this week.
- Celsius Troubles, UST Collapse May Help Crypto Long Term, FSInsight Says: The firm sees good buying opportunity now for bitcoin .
- With Market Crash, El Salvador Is Down $52M on Its Bitcoin Bet: The country has made $104 million in investments in the cryptocurrency since it made bitcoin legal tender in September.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
From Lockstep to Lag, Bitcoin Poised to Catch Up With Small Cap Highs
The Federal Reserve begins Treasury bill purchases later Friday, starting with $8.2 billion as part of its reserve management program.
What to know:
- The Russell 2000 index has pushed to new all time highs alongside strength across U.S. equities and metals, while bitcoin remains 27% below its peak, marking a rare divergence after years of moving in sync.
- With small-cap stocks highly sensitive to falling interest rates and 2026 earning-per-share growth expectations near 49%, according to Goldman Sachs, improving macroeconomic conditions could realign bitcoin and crypto with small-cap strength.
- The Federal Reserve starts Treasury bill purchases today with an initial $8.2 billion operation, the first step in a $40 billion reserve management program running until April.
Top Stories
