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On Tuesday, Bitcoin turned out to be marginally lower, finding itself on track for another losing session because market participants search for another catalyst to drive market sentiment in the crypto market.
The currency pair BTC/USD hit $6,423.55, losing by 0.4%.
As follows from the CME Group Inc., on Monday volumes on Bitcoin futures headed south for the third trading session in a row. With 2,480 transactions, they have decreased by 69% since August 13, exactly when over 8,000 Bitcoin futures contracts managed to change hands.
Notwithstanding the deceleration in volumes, some market experts pointed out that the falling volatility appears to be an upbeat sign for enthusiasts of digital assets. A firm price range is good for Bitcoin as it lifts its use as a reliable store of value and provides developers of the network with more time to create the infrastructure, which will be required going forward.
In addition to this, altcoins, which are any crypto assets that aren’t bitcoins, kept diving for the second day in a row. Following a resurgence late the previous week, the currency pair ETH/USD has headed south for the second day, decreasing by 3.6% coming up with an outcome $275.40. As a matter of fact, the second largest digital currency has gone down by 14% since overleaping $320 on Saturday.
Additionally, the currency pair BCH/USD lost 3.3% being worth $526.30. Furthermore, the currency pair LTC/USD decreased by 0.56% demonstrating $54.96. As for the currency pair XRP/USD, it ended up with 33 cents, losing 4.4%.
Bitcoin futures that concluded marginally lower on Monday were seen in the red early afternoon. The Cboe Global Markets Inc.’s September contractXBTU8 decreased by 0.7% hitting $6,410. As for the CME Group Inc August contract BTCQ8, they dipped by 0.4% reaching $6,405.
On Wednesday, the evergreen buck declined because the Japanese yen kept to a two-month minimum due to the fact that market participants had the latest trade reports digested…
On Tuesday, the evergreen buck added versus its counterparts because market participants weighed the latest worsening in the tit-for-tat tariff conflict between China and America, while a weaker common currency also raised market sentiment…
On Monday, the evergreen buck declined versus its counterparts on worries of an escalation in the US-China trade conflict, while a stronger UK currency and euro also put pressure on market sentiment…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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