BitDigest January 26 · Issue #828
- Crypto prices slide over night dropping total market cap back below $950 billion
- Band of England’s governor does not believe any existing cryptocurrencies are structured to survive
- India’s Central Bank says it is exploring a digital fiat
Crypto Fear and Greed Index
The Fear & Greed Index for bitcoin and other large cryptocurrencies experienced a massive one-day decline dropping to 40 on January 22nd as bitcoin traded around $30,000 but has recovered and is now posting a 71, falling 9 points compared to last week to coincide with the 10% decline of bitcoin during the same period.
Correction
In yesterday’s update, I provided the wrong link forValyrie Funds. The correct link is https://www.valkyriefunds.io/.
The Headlines
No Existing Cryptocurrency is Structured to Survive Over Long Term
RBI Exploring CBDC
BSP Approves Crypto Framework
MARA Buys $150 Million in Bitcoin
Overstock Spinning Out Medici Ventures
Diginex FormsStrategic Partnership with GSR Markets
The9 Signs Agreement to Purchase Mining Rigs
University Endowments Buying Crypto
Quorum to be Added to China's BSN
Grayscale Donates $1 Million to Coin Center and Pledges to Match Addition $1 Million
MicroStategy to Share Bitcoin Playbook
Market Data
BTC Mining Difficulty Hits Another High
Ripple Scales in 2020
Thoughts on the Ecosystem
Bitcoin is the Best Hedge Against Inflation
Bitcoin Failing to be a Currency
Insurers 'Funding Organized Crime' by Paying Ransomware Claims
Reports you may have missed
Tether Outlines New Organizational Structure, Aptos Partners with Microsoft, Brevan Howard, and SK Telecom
Traditional markets are finding some relief in Thursdayâs trading after four consecutive sessions of losses. The SPY and QQQ have gained approximately 0.30%, while the IWM (+0.99%) is showing outsized gains. Crypto markets are finding larger relief, with $BTC rising 3.92% to $63.7k, and $ETH gaining 2.71% to exceed $3,050. Injective ($INJ) is one of the leading tokens today, gaining 9.37% following news of a partnership with JamboPhone to bring blockchain-powered financial solutions to emerging markets. JamboPhone...
Equities and crypto assets are selling off in tandem today as inflation and geopolitical fears have spooked risk assets. The SPY and QQQ have decreased by 0.46% and 0.92%, respectively, while crypto is selling off more aggressively. $BTC (-5.49%) has tested the high $59,000s and $ETH (-4.42%) is trading below $3,000. Among a sea of red, $SUI is showing relative strength, gaining 6.44% on the back of a partnership announcement with...
Risk assets remain under pressure as the DXY's relentless rally has continued, now approaching its 2023 highs, currently at 106.5. Rates continue to move higher, with the 10Y now reaching a new year-to-date high of 4.7%. Gold continues its upward march amid persistent geopolitical tensions. Crypto remains weak in the face of rising rates, geopolitical risks, and tax season. $BTC continues to range between $61K and $63K following yesterday's afternoon...
Crypto prices suffered steep declines over the weekend following news of Iran launching drone strikes at Israel. Bitcoin and Ethereum reached respective lows of $60.8k and $2.85k, while many altcoins saw drops of over 20%. Open interest (OI) across all coins on Friday was $48 billion, and after the rapid price declines, approximately 25% of that was wiped, with total OI of about $36 billion at the time of writing. $BTC...
