Cryptocurrencies are going down... What may signal a recovery?
Crypto assets inch up
For the last week, crypto assets jumped, backed by a 25% leap in Bitcoin Cash, in contrast with a backdrop of further indications of sluggishness in fiat currencies, including the evergreen buck.
As a matter of fact, on the Investing.com Index, Bitcoin went up by up to 2.7% for the last week ending up with $3,982.00, persisting to attempts to hit the $4,000 mark. As for trading volumes of this crypto asset, they have gone up a bit, although staying below maximum levels.
Meanwhile, Bitcoin Cash inched up by about 25% for the last seven days to a two-month maximum of $165.29.
Ethereum tacked on by up to 3.8% on a weekly basis demonstrating an outcome of $138.06. As for XRP, it surged by nearly 1.5% coming up with a reading of $0.31396. Litecoin ascended by nearly 8.5% showing $59.527.
In general, digital coins headed north to $139 billion, in contrast with $132 billion the previous week, notwithstanding a lack of evident upbeat catalysts.
CBOE Global Markets came up with a statement that it’s about to cease trading in Bitcoin futures just a year after its launch. On Friday, the Chicago-based group told that it won’t list fresh contracts for the crypto asset, suggesting that trade will cease when open contracts are settled in June. As for interest in Cboe futures, it slumped because trading volumes at Cboe turn out to be lower than those on CME.
Besides this, the Basel Committee on Banking Supervision called on financial institutions to post their exposure to digital coins due to the fact they have a real potential to drive financial stability fears and also risks for financial institutions.
On Tuesday, crypto assets dived, with Bitcoin decreasing below the psychologically crucial $5,000 mark for the first time this year…
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Welcome to Tuesday, people! Here’s your markets update ahead of the European trading session.