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Bitcoin News Roundup for June 2, 2020
With the price of bitcoin briefly breaking above $10,000, CoinDesk's Markets Daily is back!
Updated Dec 6, 2022, 6:28 p.m. Published Jun 2, 2020, 4:00 p.m.
With the price of bitcoin briefly breaking above $10,000, CoinDesk's Markets Daily is back!
STORY CONTINUES BELOW
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This episode is sponsored by Bitstamp and Ciphertrace.
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A big short squeeze has taken bitcoin passed a major psychological hurdle – some think its the start of a breakout.
Bitcoin Rises Above $10K for First Time in 25 Days as Protests Roil US Cities
Bitcoin has risen above $10,000 for the first time in almost a month as protests in U.S. cities continue to intensify.
Chinese Chip Maker With a Hand in Crypto Mining Plans $2.8B IPO
Hong Kong-listed SMIC plans to raise $2.8 billion via an initial public offering on the Shanghai Stock Exchange, in hopes of advancing its chip making practices. The company is working with Canaan Creative to build a new crypto miner.
Maker of Coldcard Bitcoin Wallet Rolls Out an Extra-Strength 'USB Condom'
CoinKite, maker of the Coldcard hardware wallet, has introduced two accessories that underscore the near-paranoia required to safely hold bitcoin.
For early access before our regular noon Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica or RSS.
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These Three Metrics Show Bitcoin Found Strong Support Near $80,000
Onchain data shows multiple cost basis metrics confirm heavy demand and investor conviction around the $80,000 price level.
What to know:
- Bitcoin rebounded from the $80,000 region after a sharp correction from its October all time high, with price holding above the average entry levels of key metrics.
- The convergence of the True Market Mean, U.S. ETF cost basis, and the 2024 yearly cost basis around the low $80,000 range highlights this zone as a major area of structural support.
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