MARKETS DAILY: Crypto Update | Bitcoin Dropping Back to 24K ‘In the Cards’ and U.S. Court in Austin Examining Lawsuit Questions from Crypto Engineers and Investors

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CoinDesk

Business News, Daily News, News, Tech News

4.7 • 698 Ratings

🗓️ 25 May 2023

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

Risk assets are down across the board, which raises concerns about Bitcoin's price. A lawsuit pertaining to smart contracts, open-source software, and token holders has been filed in response to federal sanctions on the Tornado Cash protocol. Today's Stories: Bitcoin-Based ‘Space Pepes’ Led Weekly Trading Volumes Among NFT Collections Sam Altman’s Crypto Project Worldcoin Raises $115M, Led By Blockchain Capital Black Market for Worldcoin Credentials Pops Up in China Lawyers Challenging U.S. Tornado Cash Sanctions Say Free Speech Is at Stake Do Kwon's Detention in Montenegro Extended After High Court Decision to Revoke Bail DeSantis: ‘Bitcoin Represents a Threat to the Current Regime’ Market Watch Links: BRN00 | Brent Crude Oil Continuous Contract Overview | MarketWatch First Mover Americas: Bitcoin Falls to $26K; Is $24K Next? Bitcoin Options Market Signals Weakness over 6 Months Amid Debt Ceiling Drama Bitcoin's 'Ichimoku Cloud' Suggests Deeper Drop Toward $24K: Technical Analysis - This episode was hosted by Adam B. Levine, edited by Ryan Huntington, and Senior Producer is Michele Musso. All original music by Doc Blust and Colin Mealey. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:59.1	It's Thursday, May 25th, 20203, and this is Markets Daily from CoinDesk.
1:01.1	I'm Adam B. Levine here again with your daily news roundup.
1:04.2	On today, show we're talking Bitcoin, top headlines, and more.
1:08.0	And just a reminder, CoinDesk is a news source and does not provide investment advice. Bitcoin and Ether are down as risk assets sell off across the board,
1:22.3	and BTZ's recent price slide may have legs according to technical analysis by alternative asset
1:26.8	management fund
1:27.7	Valkyri investments. The leading cryptocurrency by market value is declined by about 10% this month,
1:33.0	including a slide this week of nearly 4%. Thanks in part to renewed bets that the Fed will remain
1:37.4	hawkish, a recovery in the U.S. dollar index and lingering U.S. debt ceiling uncertainty,
1:42.4	which is not terribly surprising.
1:44.2	According to Valkyrie, a further decline towards $24,000 may be in the cards,
1:48.4	as Bitcoin's daily chart Ichimoku Cloud, a momentum indicator, has flipped bearish.
	...

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