Bitcoin Cash Spikes 10% After Halving, Bitcoin Hovers Above $66K
Analysts said BTC traders are probably waiting for macroeconomic signals before making a move, referring to the current market lull.
Analysts said BTC traders are probably waiting for macroeconomic signals before making a move, referring to the current market lull.
Most funds may have taken short positions as a part of a “carry trade,” one observer said.
Flows into the new spot ETFs have been subdued for a couple of weeks, possibly prompting a renewed interest in macro drivers for price direction.
The Securities and Exchange Commission has opened up comment periods for ETF applications for Grayscale, Fidelity and Bitwise.
Bitfinex Derivatives announced the launch of perpetual futures tied to Volmex’s proprietary bitcoin and ether implied volatility indices.
The unabated expansion of stablecoin supply shows capital continues to flow into the crypto market, one observer noted.
Trading volumes for the exchange-traded funds soared to $110 billion, three times higher than either January or February, led by BlackRock’s IBIT.
The last confirmed government sale was just more than a year ago.
The bitcoin halving, expected in mid-April, remains the main supply-side event, the report said.
The CoinDesk 20 index, which tracks major tokens minus stablecoins, slumped just over 4.5%.