MARKETS DAILY: Crypto Update | Bitcoin Still Stuck in Limbo

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4.7 • 698 Ratings

🗓️ 6 September 2023

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

Bitcoin has remained almost entirely locked below the $26,000 mark since the start of September. Today's episode is sponsored by Kraken Pro. Today’s Stories: First Mover Americas: Bitcoin Still Stuck in Limbo Bitcoin Set to Form Death Cross as Dollar Index Teases Golden Crossover Sam Bankman-Fried's Laptop Has a New Battery Now, DOJ Says Russian Lawmaker Predicts That Digital Ruble Will Displace Banks - From our sponsors: Meet the all-new Kraken Pro. The powerful, customizable, beautiful way to trade crypto. It’s Kraken's most powerful trading platform ever - packed with trading features like advanced order management and analytics tools — all in a redesigned, modular trading interface. Head to pro.kraken.com and trade like a pro. Not investment advice. Some crypto products and markets are unregulated. The unpredictable nature of the cryptoasset markets can lead to loss of funds and profits may be subject to capital gains tax. - This episode was hosted by Michele Musso. “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	This episode of Markets Daily is sponsored by Cracken.
0:08.1	It's Wednesday, September 6th, 2023, and this is Markets Daily from CoinDesk.
0:13.1	Hi, Michelle Muso here with your Crypto Markets Roundup. On today's show, we're talking Bitcoin,
0:17.6	a death cross, SBF's laptop, and more. And just a reminder, CoinDesk is a news
0:23.2	source and does not provide investment advice. Bitcoin has remained almost entirely locked
0:34.5	below the $26,000 mark since September 1st, showing little to know
0:38.1	signs of life. BTC is basically unchanged over 24 hours down 0.1% at around $25,700.
0:45.6	The CoinDest Market Index CMI is down by a slim 0.04%. Investors appear to be exercising
0:52.9	caution and refraining from significant actions awaiting
0:55.8	further developments in both the cryptocurrency market and the broader economy. A crypto market
1:00.7	analyst at Japanese Exchange, BitBank, noted, quote, it appears that the majority of speculative
1:06.3	funds have already exited the crypto space, and market participants are now anticipating the next move
1:12.0	by the Federal Reserve."
1:13.9	In September and October, Ether is poised to exhibit superior performance compared to Bitcoin,
1:19.9	as per the insights provided by the cryptocurrency analytics firm K-33.
1:24.5	Notably, with a considerable likelihood of the inaugural Ether Exchange traded fund
1:29.5	ETF in the United States, gaining regulatory approval around mid-October, astute investors have an
1:35.4	opportunity to leverage the impending momentum that will propel ETH's value. This strategic
1:40.8	perspective is articulated by the senior analyst Vetley Lund.
1:45.0	September has consistently posed a historical challenge for BTC, with negative returns observed in this particular month every year since 2016.
1:53.7	Consequently, the prevailing odds appear to favor Ethereum, as asserted by Lund, who alludes to Bitcoin's notable 60% surge during the three weeks leading
2:01.8	up to the approval of its inaugural U.S. futures base ETF in 2021.
	...

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