BitDigest May 25 · Issue #909
- Crypto marketcap back above $1.5 trillion
- Fed’s Brainard sees benefits in digital dollar
- Elon speaks with North American bitcoin miners and gets commitment on renewable mining statistics
Crypto Fear & Greed Index
The Fear & Greed Index for bitcoin and other large cryptocurrencies is up 1-point this week after dropping down to 10 during the 7-day period. This recent collapse is the largest drop the index has encountered in over a year and first time the index has fallen below 35 since last year’s March – April selloff. The index is likely to remain in this range until bitcoin can start to retest $40,000.
The Headlines
Digital Dollar Benefits Americans
BoE Head Remains a Crypto-Skeptic
MARA to Help Finance New Site for Thier Rigs
EQOS Reports New Trading Highs
One River Files Prospectus for Carbon-Neutral Bitcoin ETF
HSBC Not Planning Crypto Offering
Elon Meets with Bitcoin Miners
Mergers & Acquisitions
Galaxy Acquires Vision Hill
Market Data
Crypto Hedge Funds Returned 128% in 2020
Wharton Demystifies DeFi
Thoughts on the Ecosystem
Digital Yuan Not a Threat to USD
SEC Should Focus on Providing Regulatory Clarity Over New Enforcement Actions
Bitcoin's Success is Risk
Daily Cartoon
Reports you may have missed
Happy Halving Day to all. It has been another volatile 24 hours for crypto markets, with war-related headlines sending risk assets lower overnight. BTC-1.60% briefly dipped below the $60k mark but has since recouped all its losses and is now trading above $64k. ETH-1.85% followed BTC's initial drop, trading below $2900 last night, but it has now rebounded to above $3000. SOL-1.60% has shown remarkable resilience amid the turmoil, now...
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...
