MARKETS DAILY: Crypto Update | Bitcoin Holds Above $30k Before Historically Strong July and Zimbabwe's State-Issued, Gold-Backed Digital Token

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Business News, Daily News, News, Tech News

4.7 • 698 Ratings

🗓️ 27 June 2023

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

Crypto funds saw the largest inflows in a year, primarily in bitcoin-related products. Today's Stories: Circle’s Allaire Says Bitcoin ETFs Likely to be Approved: Bloomberg EU Seals Deal on Crypto Bank-Capital Rules Zimbabwe's Gold-Backed Digital Token Won't Fix the Country's Currency Woes, Economists Say Markets Links: BRN00 | Brent Crude Oil Continuous Contract Overview | MarketWatch First Mover Americas: Crypto Funds See Largest Inflow in a Year Bitcoin Holds Above $30K as Investors Await Historically Strong July, Eye Options Expiry This episode was hosted by Adam B. Levine and George Kaloudis. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl. 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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0:00.0	It's Tuesday, June 27th, 2023, and this is Markets Daily from CoinDesk.
0:09.9	I'm Adam B. Levine here again with George Calutus for your daily news roundup.
0:13.1	On today, we're talking Bitcoin, Zimbabwe, top headlines, and more.
0:16.7	And just a reminder, CoinDesk is a news source and does not provide investment advice.
0:28.5	Thank you. And just a reminder, CoinDesk is a new source and does not provide investment advice. And now, here's George with today's markets update.
0:31.1	It's a mixed bag of a day with Bitcoin up, ether down slightly, and the broader
0:35.3	CoinDest index trending higher.
0:38.2	Sentiment is generally positive.
0:39.8	According to data from Digital Asset Manager coin shares, over the last week, digital asset
0:44.1	investment products enjoyed the largest single weekly inflows in a year after nine consecutive
0:48.9	weeks of outflows.
0:50.6	Bitcoin related products were the primary asset for inflows, with $188 million coming in, a healthy
0:55.6	94% of inflow.
0:58.3	Short Bitcoin products in contrast saw a total outflow of $4.9 million, marking the ninth
1:03.5	consecutive week of net exits.
1:06.0	However, the positive sentiment in Bitcoin did not flow through into all-coin investments, as Bitcoin's
1:11.3	dominance, a measure of how much of crypto's market value is made up of Bitcoin's market
1:15.2	value ticked up from 51.5% to about 51.3 quarters percent.
1:21.0	Bitcoin continues its strong 2023, up 85%, massively outperforming traditional markets, and
1:27.1	it stands to get stronger as June comes
1:28.9	to a close and we enter July, a month which has been historically strong for Bitcoin's price.
1:34.2	Now, past performance is not indicative of future results, but three consecutive years of price
	...

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