El Salvador Moves 5,689 BTC Into Cold Storage, Avalanche Foundation Discloses Community Coin Investments

Mar 15, 2024
Market Update The crypto market suffered from a sharp decline early this morning, which saw $BTC (-4.48%) fall over 8% to the mid $65,000s before paring losses to $68k. $ETH (-5.07%) and altcoins saw similar price action, fueling over $727 million in liquidations over the last 24 hours. Funding rates have been getting frothy, and the drop helped to bring rates to more neutral levels across the board (see below). $SOL (+3.18%) has still managed to make a new all-time high in market capitalization, exceeding the November 2021 mark of $80.97 billion. Equity indices are falling today, with the SPY and QQQ decreasing 0.60% and 1.10%, respectively, as investors are likely derisking ahead of next week’s FOMC meeting, given this week’s economic data signaling some stalling in disinflation. Interestingly, despite drops in Bitcoin and equity indices, COIN (+2.11%) and WGMI (3.85%) are showing relative strength. Bitcoin miners have struggled as of late, but it will be interesting to monitor if this marks a local bottom.Source: CoinGlassEl Salvador President Nayib Bukele announced via Twitter the movement of a large chunk of El Salvador’s Bitcoin holdings into cold storage. He attached an image of a wallet address showing 5,689 Bitcoin, equivalent to about $390 million at current pr

Unlock this page with a FREE 30-Day Trial!

*Free trial available only on a monthly plan

Reports you may have missed

MARKET COMMENTARYU.S. EQUITIES ARE RELATIVELY FLAT AS THEY CONSOLIDATE ABOVE PRIOR ALL-TIME HIGHS. THE SPX IS TRADING AT 5,300, AND THE NDQ IS HOVERING NEAR $18,600, WHILE THE DXY 0.00% (-0.07%) IS SHOWING A SLIGHT DECLINE, TRADING AT $104.4. Crypto assets are showing strength, with BTC -0.77% rising 2.84% to $67.1k and ETH -1.34% surging 4.86% to $3,090. Liquid staking tokens are building on Ether's outperformance, as LDO -2.83% and PENDLE -0.27% have gained 10.11% and 13.43%, respectively. Similarly, layer-2...

CRYPTO MARKET UPDATETODAY, WE ARE SEEING SOME MINOR CONSOLIDATION IN THE CRYPTO MARKET COINCIDING WITH THE SLIGHT BOUNCE IN THE RATES AND DXY 0.00% . BTC -0.77% is trading just north of $65k, while ETHBTC continues to struggle, with ETH -1.34% moving lower for the 5th consecutive day and still trading below the $3k mark. Despite the market consolidation, SOLBTC is still green on the day as SOL -0.87% works to regain the $160 level....

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 1/1

🎁 Unlock 1 extra article by joining our Community!

You’ve reached your limit of 1 free monthly articles. Please enter your email to unlock 1 more articles.

Already have an account? Sign In