Fundstrat
Bitcoin Trading Flat Below $17K on Its 14th Birthday
Bitcoin (BTC) is trading around $16,600 as Gemini co-founder accused Digital Currency Group CEO Barry Silbert of “bad faith stall tactics.” Silbert responded, saying his firm submitted a proposal to Genesis and Gemini’s advisers last Thursday. DCG is the parent company of CoinDesk. Sean Farrell, Global Advisors Head of Digital Asset Strategy at research firm Fundstrat, shares his crypto markets analysis.
Bitcoin Hovers Around $17K Ahead of Inflation Data, Fed Meeting
Bitcoin trading steady over $17,000 with the latest U.S. Consumer Price Index (CPI) report to be released Tuesday and the U.S. Federal Reserve's interest rate decision Wednesday. Bitcoin's implied volatility has also declined in recent weeks, Fundstrat noted. "All About Bitcoin" host Christine Lee breaks down the Chart of the Day.
Bitcoin Bottom Could Be Seen at $13,000
According to Fundstrat analysis, BTC could start giving back recent gains seen since mid-June lows below $18,000, in parallel with U.S. stocks, and continue to do so into the second to third week of July before a larger intermediate-term low develops.
Crypto Market Cap Dips Below $1T as Celsius Pauses Withdrawals
Sean Farrell, Fundstrat Global Advisors head of digital asset strategy, joins "First Mover" to discuss his outlook on the crypto market as bitcoin falls below $23,000 and Celsius freezes withdrawals due to "extreme market conditions."
Why This Crypto Winter Might Soon Be Over
Bitcoin's 90-day correlation with tech stocks, in contrast to the 2018 sell-off where BTC was not correlated with tech stocks at all, suggests the bottom is not necessarily where the marginal crypto native seller capitulates, but where the marginal legacy macro seller becomes exhausted. Fundstrat's research suggests BTC is much less likely to experience a prolonged crypto winter for this reason. "All About Bitcoin" host Christine Lee breaks down the Chart of the Day.
Is Bitcoin’s Rally Over?
Bitcoin is trading around $48,000 and is roughly flat over the past 24 hours. Still, the cryptocurrency is up 13% over the past week as buyers continued to defend lower support around $40,000, but is the rally over?
