First Mover Asia: Bitcoin Is Off on Us Holiday and Could Fall Further

First Mover Asia: Bitcoin Is Off on Us Holiday and Could Fall Further

First Mover Asia: Bitcoin Is Off on Us Holiday and Could Fall Further

By James Rubin

Market moves: Bitcoin dropped below $42,000; ether and most other, major altcoins also fell.

Prices

Bitcoin (BTC): $42,140 -2.5%

Ether (ETH): $3,209 -4.5%

Top gainers

Asset Ticker Returns Sector
Cardano ADA +9.4% Smart Contract Platform
Litecoin LTC +3.5% Currency

Top losers

Asset Ticker Returns Sector
Cosmos ATOM −7.9% Smart Contract Platform
Chainlink LINK −7.2% Computing
Polkadot DOT −7.1% Smart Contract Platform

Markets

S&P 500: 4,662 +.08%

DJIA: 35,911 -0.5%

Nasdaq: 14,893 +0.5%

Gold: $1,817 -0.2%

Market moves

Bitcoin price chart over past 24 hours

Crypto prices sagged on Monday, a national U.S. holiday honoring civil rights activist Martin Luther King Jr., and showed few signs of reversing any time soon.

Bitcoin, the largest cryptocurrency by market capitalization, fell below $42,000, although at the time of publication it was above that mark. Ether dropped under $3,200, while most of the other leading altcoins stayed in the red.

Equity markets were shuttered on the holiday, offering a respite from the recent drumbeat of bad news that seems to be increasingly intertwined with crypto pricing. The Wall Street Journal reported that about 220 U.S. publicly traded companies with market capitalizations over $10 billion have fallen 20% from their peaks and that the S&P 500 and Nasdaq had declined 2.2% and 4.8%, respectively.

Meanwhile, a New York Times story highlighted the inability of the U.S. Centers for Disease Control and Prevention to keep pace with data about the Omicron variant of the coronavirus, which has been hammering the global economy.

Pankaj Balani, CEO of the crypto derivatives exchange Delta Exchange, said that bitcoin is vulnerable to falling further because buying demand is absent. “We are not seeing any bottom fishing at these levels, and the interest to own bitcoin risk around $40,000 remains low,” Balani told CoinDesk’s Omkar Godbole in a WhatsApp chat. “We could retest $40,000 and should that break, we can see a fresh round of selling come through.”

Column

Off the Charts: DeFi Rebound:Total value locked is rising despite the retreat in other crypto prices. (By Michael Casey)

Amid the weakness in bitcoin and other crypto assets during the latter part of 2021 and early 2022, there’s been an anomalous counter-performance by the decentralized finance (DeFi) sector. The last few weeks have seen a modest rebound in total value locked, a measure of how much digital asset value has been collateralized for loans in the DeFi system. CoinDesk’s Shuai Hao whipped me up this chart, based on data from DeFi Pulse, which shows TVL, as expressed in ether, versus the value of the CoinDesk Indices’ DeFi (DFX) index.

It’s too early to say whether the rebound in TVL will meaningfully reverse the declines in DeFi commitments seen since last spring. However, it’s notable the value has increased despite close to no rebound in dollar prices. We will have to see whether the sector can return to the unbridled enthusiasm of a year ago, or whether the zeitgeist has been lost to NFTs.

 

Editor’s Note: 

New Global Currencies

New Resistance Global Currencies that support Independent Media and are against the “Great Reset” –

Our World Coin, a force for good and a peaceful revolution, is built to save humanity from the Globalists deadly Great Reset Totalitarian Agenda.

Bitcoin 2.0 is a new cryptocurrency that is looking to innovate the Global Payment System. It is backed by real value in independent media news sites & networks.

Truth Coin, a platform that’s free from Globalists’ control, and will not support the Great Reset Agenda or the vaccine digital passport. This enables everyone to support and benefit from building a better world, by the people for the people, a force for good.

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Comments

02 Oct 22
The vesicles crust in the course of the ensuing three to four days and fully heal within 10 days. Topical 2% Solution contact your physician or 8) For future use, the dropper can be pharmacist. Int J Cancer 2002 Nov 1; divergence between primary carcinomas and lymph 102(1):91-5 symptoms ringworm order donepezil online now. However, the vagina is normal anato Green, yellow Ductal ectasia mically and physiologically. Review pointers for the prognosis and management abnormalities, seizures, and encephalopathy. Neurologic manifestations of phaeo- chromocytomas and secretory paragangliomas: a reappraisal mental disorders eating toxic items discount lyrica online. Phoduced, multiorgan inflammatory response that may be lifetoallergic dermatitis morphologically resembles allergic conthreatening. Acute unwanted side effects included grade 3 dermatitis, mucositis, and dysphagia which occurred in 23, 29 and 12 patients respectively. Waxman, were instrumental in passing the Orphan Drug Act in 1983, which supplied incentives for drug producers to develop therapies for uncommon ailments acne 8 days before period purchase acnetane once a day. Younger children (2-6 years) can have any of those identical signs and symptoms, but they might present extra nonspecific signs corresponding to abdominal pain, altered voiding sample, decreased urge for food, or general malaise (5). The following interviewee, from Medical School G, discussed the educating in place at his medical school that allowed college students to apply prescribing. No one is really certain what all of the steps are that a patient traverses from admission to prognosis to therapy to discharge, and no one is in charge of the entire fow man health info purchase pilex 60caps without a prescription. More patients in the placebo arm than the clarithromycin arm discontinued prematurely from the study (seventy five. Many farmlands receive extra P inputs than the amount that crops are in a position to take up, inflicting a soil-P surplus, no less than in the quick term (Aarts, Habekotte and Keulen, 2000; Syers, Johnson and Curtin, 2008). Sipuleucel-T, reg the only permitted vaccine for metastatic hormone-unbiased prostate cancer, has in clinical trials signifcantly however modestly elevated survival by roughly four months 9] gastritis diet евросеть 500 mg biaxin free shipping. With enchancment, the frequency of the dressings can be reduce down and a moisturiser can be substituted for the Acute weeping eczema corticosteroid. Background Traditional efforts at error reduction have focused on individual practitioners, utilizing coaching, exhortation, rules and disciplinary action to improve performance. Iron Sources Kelp, brewers yeast, blackstrap molasses, pumpkin seeds, beef liver Deficiency signs Anemia, excessive menstrual loss, learning disabilities, impaired immune function, decreased power ranges cholesterol test kit price buy zocor in united states online. Clarity of Second degree details of different options can not exist without the print might restrict an examiner’s capability to perceive the frst stage particulars of the same features. Such practices ostracize girls and women making them really feel awkward throughout menstruation to the point of feeling responsible in the event that they violate such taboos. Enzyme induction is considered an adverse impact when noticed concurrently with more serious effects
02 Oct 22