The culprits? Those pesky profit-takers and ETF outflows, with a dash of macro risk aversion thrown in for good measure. Yet, the old chap remains perched comfortably above the $54,900 realized price, like a cat on a windowsill, smug in its profitability.
The crypto market appears to be having a case of the Mondays, holding its breath despite U.S. equity futures rising by about 0.25% since the clock struck midnight UTC. A curious sight indeed!
According to them, there is little prospect for recovery before April.
January’s CPI, a timid creature, arrived below expectations-headline inflation at 2.38%, core CPI at 2.5%, the lowest since the world still believed in normalcy. The markets, ever fickle, rejoiced on Friday, but crypto, that restless enfant terrible, squandered its gains by weekend’s end. Ah, the brevity of joy in this digital bazaar.
When Bitcoin [BTC] plummeted to the $68,000 range, investors were more frightened than a cat at a dog show. But instead of running for the hills and selling off their digital treasures, the market held its ground like a determined tortoise facing a hungry hare.
Armstrong mused that the general mood amongst retail users has been spiffingly resilient. The modern denizen of the crypto bazaar appears less inclined to wink at declines.
In a plot twist worthy of a daytime soap opera, federal, state, and local officers decided to channel their inner action heroes by raiding two jewelry stores in Irving and Frisco. These establishments are allegedly in cahoots with scammers who apparently think they’re the stars of a crime thriller, threatening the elderly with false claims about criminal investigations. You know, classic “We’re from the government and we’re here to help!” approach.
Bitcoin [BTC], the aging lion, roared a mere 8.3%, while Ethereum [ETH], its cub, managed 9.2%. But in this circus, comparisons are a fool’s game, for strength relative to the weak is no strength at all. Beware, dear spectator, lest you be ensnared by the siren song of FOMO, that most treacherous of temptresses.
Behold, the erstwhile czar of Mt. Gox, Mark Karpelès, hath revealed a most peculiar habit: he, in his boundless munificence, once bestowed upon his minions not mere wages, but golden tokens of fortune-Casascius coins, no less! Alas, these were but trifles compared to the leviathans now stirring on the blockchain.
The bustling activity of traders congregated near the lower range, akin to villagers gathering before a harvest festival, laying down strong positions before the great breakout occurred.