Crypto-Follow logo Crypto-Follow logo
Seeking Alpha 2022-01-28 18:22:00

Bitcoin, ether hold onto slight gains as global crypto market cap ticks higher

The global cryptocurrency market takes a breather intra-day as bitcoin (BTC-USD) and ethereum (ETH-USD) edge higher, and appeared to have bottomed on Monday. Bitcoin (BTC-USD) troughed at $32.8K on Monday following a steep sell-off that occurred in the wake of Russia's proposal on banning digital assets, in addition to the Securities and Exchange Commission's rejection on SkyBridge Capital's Spot Bitcoin exchange-traded fund. Ether (ETH-USD) also confirmed support at $2.1K on the same day. For bitcoin (BTC-USD), "the only bullish argument here is if it can recover back to 41 and do so quickly," @allstarcharts writes in a Twitter post. Recent price volatility taking hold across a wide variety of risk assets, such as stocks, could continue to weigh on crypto prices, as liquidity seems to be rotating out of growth-oriented assets. And the Biden administration's proposed national security memorandum, along with other regulatory tensions evolving around the space, are developments

#
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer