- Spot bitcoin fell 1.45 percent to $9,501 as of 0900 UTC as the U.S. dollar rebounded from its seven-day plunge.
- The cryptocurrency’s downside move surfaced ahead of a fresh U.S. trade and unemployment data release at 0830 ET on Thursday.
- The U.S. stock market, which remains positively correlated to bitcoin, also dived as investors booked short-term profits.
Bitcoin continued to tail the moves in the global stock market this Thursday.
The benchmark cryptocurrency fell by 1.45 percent to $9,501 minutes after 0900 UTC. The downside swing mainly came as a part of a short-term technical correction, wherein traders booked their intraday profits near the top of $9,689. So it seems, certain macro factors also kept traders from holding Bitcoin.
BTCUSD holding above psychological support of $9,500 | Source: TradingView.com, Coinbase
,
If reproduced, please indicate the source: https://www.uucj.net/bitcoin-stocks-fall-as-dollar-rebounds-ahead-of-u-s-trade-data/
Recommendation
-
Michael Goldstein on Rejecting All Forms of Activism – WBD171
Published on December 1st, 2019 by BTCMedia,
-
Chainalysis Report Confirms Criminal Transactions Represent 1.1% of all Crypto Activity » The Merkle Hash
No one will be surprised to learn that criminals still favor Bitcoin. A new report by Chainalysis shows 2019 was a good year for the culprits, but a bad one for the rest of the world. Over the years, there have been many rumors regarding Bitcoin and online crime. A Different Look at Crypto in Crime In the report, Chainalysis notes severe growth compared to 2018. A bit unusual,a s 2018 saw a decline in illicit cryptocurrency transactions compared to the year prior. Last year, the figures spiked to well above $11 billion. This figure may be a lot lower than most had assumed, however. With this rise in illicit crypto transactions, a very problematic situation ensues. That said, it is crucial to put everything into perspective. These illicit streams represent 1.1% of all yearly global cryptocurrency activity. That doesn’t mean the problem should be ignored, but it needs to be put in the right perspective at all times. Surprisingly, the majority of crimes involving primarily pertain to terrorism financing and darknet markets. Combined with stolen funds, they make up…
-
Tesla (TSLA) Stock Rose 11.32%, Morgan Stanley Says It’s Still a Sell
Despite the massively weakening demand in the European market, the TSLA stock surged 11% on Monday beating down the bears. Reportedly Tesla is focusing on strengthening its position in the North American market. On Monday, March 2, the Tesla Inc (NASDAQ: TSLA) stock gained over 11% with its price moving close to $750 but Morgan Stanley still asks investors to be cautious. This recovery came amidst the broader markets showing marginal recovery on Monday. Although the COVID-19 cases have been on a rise, investors pulled the markets up in hope of a possible stimulus. Tesla (TSLA) stock has been the top performer on Wall Street since the beginning of 2020. With a mammoth run of over 100% gains in just the first 40 days of the year, investors have their eyes glued on it. Moreover, this has helped the electric car to be the second-most valued automobile company globally after Toyota Motor Corp (TYO: 7203). With its strong Q2 2019 results and robust manufacturing set up, Tesla has been making an aggressive move to expand its presence in the global…
-
GAME Copies GameStop’s Corporate Greed Manifesto This Pandemic
Certain stores have refused to close down despite the ongoing coronavirus pandemic sweeping the world. Amongst those companies are game retailers like GameStop and their UK counterpart GAME. GAME seems determined to follow GameStop example, and their behaviour shouldn’t be forgotten when all of this is over. At a time of crisis like the current Coronavirus Pandemic, the best can be bought out in people. It can also really bring out the worst in people, and by people I mean companies. GAME is a UK-based game retailer, similar to GameStop. In an effort to become more like GameStop, GAME has refused to close down during the coronavirus pandemic. Even worse than that, they’re asking more and more of their staff with no increase in wages. Another day, another company whose management should be headed for the guillotine. Even GAME’s own employees are calling for the shop to finally shut down. | Source: Twitter Game Seems Determined to Become as Vile as GameStop After all of the awful things they did lately, GameStop did eventually close down. It’s quite a coincidence…
-
This Financial Trend “Could Not Be More Bullish” for BTC
After March’s 50% crash, there are many reasons to be bearish on Bitcoin. As seen by the recent decrease in the crypto market’s liquidity and some traders publicly throwing in the towel, the crash forced many to abandon the space. But, according to a prominent macro investor, a trend is transpiring that “could not be more bullish for Bitcoin.” Related Reading: Crypto Tidbits: Bitcoin At $7,000, FATF Regulation, Coinbase Backs Ethereum DeFi Bitcoin to Be Boosted by This Factor According to Dan Tapiero — the founder of DTAP Capital and Gold Bullion International and a Bitcoin bull — the recent price action in the investment-grade corporate bond market has been “truly incredible, maybe even once in a lifetime.” He looked to the below chart, which shows that an index of corporate bonds has almost reached all-time highs after a severe 20% correction, which is a result of the Federal Reserve buying bonds to the tune of dozens of billions of dollars a week to stabilize the economy. What’s crazy is that this trend is far from over, with the U.S….
-
Coinbase Crypto Ratings Council adds 3 new members |
Coinbase Crypto Ratings Council has welcomed three new members to its fold. The organization work towards creating a ‘cryptocurrency assessment standard’ that determines whether cryptocurrencies are securities as per U.S. regulations. The addition of new members to the Coinbase Crypto Ratings Council shows its rising graph as a leading research organization in the crypto realm. The new members include OKCoin US, eToro, and Radar. All will jointly contribute to efforts to determine and optimize the way exchanges security status of a cryptocurrency. The new members will substantially increase the technical prowess and legal acumen of the group. Coinbase Crypto Ratings Council expansion positive for the crypto industry CRC members undertake an in-depth review of every rating before it is published. The cryptocurrencies are rated on a scale of one to five. One denotes coins that do not appear to have security characteristics, while a rating of five demonstrates strong security-related credentials. For example, Ethereum Classic has a rating of two under the CRC scale. The underlying reasons to identify the cryptocurrency’s security credentials are also elaborated in detail by the…
-
Huobi Exchange Plots Return to US Crypto Market as Soon as This Month, Exec Says
Global crypto exchange Huobi Group could be back in the U.S. market as early as this month, a group vice president told CoinDesk. Such a move would come five months after Huobi’s San Francisco-based over-the-counter (OTC) brokerage, Huobi US (HBUS), abruptly halted operations, citing unspecified regulatory roadblocks. At the time, Singapore-based Huobi Group said it would return but did not give a timeframe. Now, the exchange aims to relaunch this business in partnership with a local licensed trading platform, said Ciara Sun, Huobi Group’s vice president of global business. This would allow it to be compliant with regulations at a lower cost, she said. “By working with a fully regulated local partner, we don’t have to apply for licenses to run the businesses from every state,” Sun said. “We will come back as Huobi Group and there will not be a separate legal entity like Huobi US anymore.” According to Sun, Huobi has been in talks with a crypto brokerage about a potential strategic partnership that could involve Huobi acquiring a minority stake. She would not identify the brokerage. Read…
-
Four Telcos Test Blockchain Solution To Automate Roaming Discounts
A group of four international telecommunications companies are currently testing a blockchain-based solution to automate the management of inter-operator roaming discount agreements. According to a report published on Feb. 17 by Mobile Europe, Deutsche Telekom, T-Mobile US, Telefonica and Orange say the solution vastly reduces the complexity of the current system, and is “production ready.” Simplifying to allow scaling The new solution revamps a process that hasn’t changed in many years and involves drafting, signing and manually implementing agreements for discounted roaming charges. Automating this workflow speeds up and streamlines this process. Use of blockchain means that the terms of the agreement cannot subsequently be altered. New technologies were set to make the existing process even more complex, as Rolf Nafziger, Senior Vice President of Deutsche Telekom Global Carrier, explained: “The inter-operator workflow in roaming has been basically unchanged for the last 20 years. In the near future however, new services […] will drastically increase the complexity of inter-operator discount agreements and respective settlements. This blockchain-based solution is the start of automating sections of our workflow. It will put us…
-
Cosmos (ATOM) is launching on Coinbase Pro
On Monday, January 13, transfer ATOM into your Coinbase Pro account ahead of trading. Support for ATOM will be available in all Coinbase’s supported jurisdictions. Per previous launches, transfers will open during business hours, Pacific Standard Time. On Monday, January 13, we will begin accepting inbound transfers of ATOM to Coinbase Pro. We will accept deposits for at least 12 hours prior to enabling full trading. Trading will begin on or after 10AM Pacific Standard Time the following day if liquidity conditions are met. Once sufficient supply of ATOM is established on the platform, trading on the ATOM/USD, and ATOM/BTC order books will start in phases, beginning with post-only mode and proceeding to full trading should our metrics for a healthy market be met. Support for ATOM will be immediately available in all Coinbase’s supported jurisdictions. At this point, Coinbase will not support ATOM staking. Cosmos is an interoperable blockchain protocol that facilitates the transfer of data between existing chains. It operates via a hub-and-spoke model that leverages the design elements of other chains to enable cross-chain interaction. The Cosmos…
-
Bitcoin SV (BSV/USD) Price Analysis » The Merkle Hash
Medium-Term Trend: Downtrend For the last one week, the price of BSV/USD pair has been moving south ways, thus recording a bearish performance. On the 4-hourly chart, the pair’s price failed to trade above $133.954 thus slipped downside as it was pulled by the strong selling gravity coming from the bears. The price spiked down by 7.85% over the past one week, as it dipped from $133.000 to $122.550 as at 07:45 UTC. Currently, there is a struggle to breach $121.133 support level, thus suggesting high interest in lower price digits. Additionally, the long-term SMA has been continuously gravitating above the short-term SMA, while the RSI has been hovering below average, thus suggesting a negative outlook. Therefore, investor’s sentiments have declined; hence, a bearish outlook should be anticipated. Short-Term Trend: Downtrend Similarly, on the hourly chart of BSV, the trend has not changed. The bearishness stills continue at a very stronger pace, as it has been bolstered by the moving averages that have currently poised to bearish crossover. BSV/USD pair has therefore down surged by 1.6% over…
