Cryptocurrencies continued to slide as buyers appear to be taking some profits. Some analysts are now cautious on bitcoin’s short-term price direction given the recent loss of upside momentum.Bitcoin declined toward a three-week low on Thursday around $56,000 before stabilizing near $58,000. BTC is down about 11% over the past week, compared with a 14% drop in ether over the … [Read more...] about Market Wrap: Cryptocurrencies Slide as Buyers Stick to the Sidelines
Sidelines
Stablecoin inflows to exchanges dip as traders watch Bitcoin from the sidelines
The growth of stablecoin's market cap and circulating supply has been one of the best indicators for attaining a general pulse on how participants in the market are feeling during bullish and bearish times.Monitoring the Tether (USDT) treasury for large issuances was a common tactic used by analysts and traders to position themselves for a possible pump in the price of Bitcoin … [Read more...] about Stablecoin inflows to exchanges dip as traders watch Bitcoin from the sidelines
Most of the Institutions Eyeing Bitcoin are Sitting on the Sidelines
In brief:According to Tyler Winklevoss, there is a lot of institutional money coming into BitcoinMost of it is still sitting on the sidelinesBitcoin’s price growth is ‘in the second pitch of the first inning’Accumulation of Bitcoin is ongoing with exchange balances dropping by 20% since last MarchBitcoin testing $60k is possible due to the market optimism injected by the … [Read more...] about Most of the Institutions Eyeing Bitcoin are Sitting on the Sidelines