MARKETS DAILY: Crypto Update | Is Bitcoin Close to Breaking Out of Its Current Range?

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4.7 • 698 Ratings

🗓️ 29 August 2023

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

The latest price moves in crypto markets in context for August 29, 2023. Today's episode is sponsored by Kraken Pro and Simpluris. Today's Stories: First Mover Americas: Is Bitcoin Close to Breaking Out of Its Current Range? Bitcoin's Most Loyal Holders Continue Accumulation Despite Price Lull Tokenized U.S. Treasuries Arrive to XDC Network as Digital Bond Market Grows DCG Reaches Crucial In-Principle Deal With Genesis Creditors, Recoveries Could Be Up to 90% FTX Customers Hit by 'Withdrawal' Phishing Mails After SIM Swap Attack - 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. - Simpluris: If you purchased FEI or TRIBE tokens in the Genesis Event between March 31st and April 3, 2021, a class action settlement may affect your rights. You can learn more about the settlement and file a claim here. - 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 and Simpleris.
0:09.0	It's Tuesday, August 29th, 20203, and this is Markets Daily from CoinDesk. Hi, I'm Michelle
0:14.7	Muso here with your Crypto Markets Roundup. And on today's show, we're talking Bitcoin, Genesis,
0:19.9	FtX, and more. And just a reminder,
0:23.6	CoinDisk is a news source and does not provide investment advice.
0:32.9	Bitcoin has fallen back below $26,000, reflecting generally bearish sentiment among crypto traders
0:39.2	and a lack of bullish catalyst to rally markets.
0:42.5	After strengthening briefly last week to $26,200, Bitcoin dropped as low as $25,886 on Monday,
0:50.4	but has since climbed back up to where it started.
0:53.4	Institutional crypto exchange LMAX Digital said that Bitcoin is getting closer to a breakout
0:58.2	from the current range due to how tight the contraction has gotten in recent sessions.
1:02.8	A note said, quote, whenever ranges get too tight, it's often a warning sign for a surge
1:06.9	in volatility, end quote.
1:08.9	An editorial analyst said softness in the market is also being seen in other asset classes such
1:13.8	as equities.
1:14.8	The analyst also said in a morning note that this comes as investors, quote, pay close attention
1:20.1	to the discussions at Jackson Holm.
1:22.4	The indication from Wyoming is that central bankers are intent on keeping rates at higher
1:26.6	levels to prevent a
1:27.6	resurgence in inflation, which is not being taken well by risk assets across the board, end
1:33.1	quote. Long-term holders of Bitcoin have shown a continued accumulation of the tokens despite
1:38.6	a recent billion-dollar shakeout, suggesting a bullish outlook in the longer term remains intact
	...

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