• Contact
  • Privacy Policy
  • Advertise With Us
  • Login
  • Register
Your Trading Edge Magazine
Advertisement
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
Your Trading Edge Magazine
No Result
View All Result

Bitcoin Steadies After Ending Longest Winning Streak Since 2013

January 19, 2023
in Finance
Reading Time: 2 mins read
A A
0
Bitcoin Steadies After Ending Longest Winning Streak Since 2013
0
SHARES
7
VIEWS
ShareShareShareShareShare

(Bloomberg) — Bitcoin steadied after snapping a rare 14-day winning streak as a mood of caution supplanted the risk appetite that drove up a variety of assets at the start of the year.

Most Read from Bloomberg

The largest token swung between gains and losses on Thursday and was up about 0.2% at $20,813 as of 12:50 p.m. in Singapore. Smaller coins like Solana and Polkadot posted modest increases. Bitcoin on Wednesday retreated 2.5%, ending its longest run of daily gains since 2013.

Bitcoin “has now become very overbought on a near-term basis” and is “getting ready for a short-term pullback,” said Matt Maley, chief market strategist at Miller Tabak + Co.

Shares fell and Treasuries rallied on Thursday on economic growth concerns, and that somber sentiment washed across digital assets too. The crypto sector also continues to grapple with the fallout of the collapse of the FTX exchange.

Genesis Global Capital — the lending unit of Digital Currency Group — is laying the groundwork for a bankruptcy filing as soon as this week, according to people with knowledge of the situation. DCG’s businesses are key cogs in the ailing digital-asset industry.

Bitcoin’s 14-day relative strength index has dropped from more than 90 but remains above 70, the threshold for so-called overbought conditions. For some strategists, that hints at the possibility of a pause in Bitcoin’s 2023 advance.

Bitcoin and a gauge of the top 100 tokens have both jumped more than 20% this year, alleviating at least a sliver of last year’s digital-asset rout. Much of that has been driven by the view that debilitating interest-rate hikes are coming to an end as inflation cools.

Virtual coins have shed about $2 trillion since a peak in November 2021, precipitating a series of blowups that led a swath of institutional and retail investors to wash their hands of crypto.

For crypto market prices: CRYP; for top crypto news: TOP CRYPTO.

–With assistance from Vildana Hajric.

Most Read from Bloomberg Businessweek

©2023 Bloomberg L.P.

Credit: Source link

ShareTweetSendPinShare
Previous Post

Sands to Release Fourth Quarter 2022 Financial Results

Next Post

BlockchainSpace Makes An Exceptional Move for Web3 Community Support with Metasports Acquisition

Related Posts

Gig companies are now obsessed with profits—not just revenue growth, says analyst.
Finance

Gig companies are now obsessed with profits—not just revenue growth, says analyst.

February 3, 2023
5
White House top economic advisor Brian Deese to depart mid-February
Finance

White House top economic advisor Brian Deese to depart mid-February

February 3, 2023
3
Americans prefer to cling to cash after shaken by stock market volatility
Finance

Americans prefer to cling to cash after shaken by stock market volatility

February 3, 2023
7
Tech stocks extend post-Fed rally, Dow futures lag
Finance

Tech stocks extend post-Fed rally, Dow futures lag

February 2, 2023
4
2 reasons Meta stock is exploding 20% after a whopper earnings miss
Finance

2 reasons Meta stock is exploding 20% after a whopper earnings miss

February 2, 2023
6
Next Post
BlockchainSpace Makes An Exceptional Move for Web3 Community Support with Metasports Acquisition

BlockchainSpace Makes An Exceptional Move for Web3 Community Support with Metasports Acquisition

Recommended

NFT Collection Caked Apes Official Price, Stats, and Review

NFT Collection Caked Apes Official Price, Stats, and Review

January 20, 2023
4
LBank Exchange Will List Balto Token (BALTO) on February 3,…

LBank Exchange Will List Balto Token (BALTO) on February 3,…

February 1, 2023
4
Pro recommends buying Shake Shack stock despite soft guidance

Pro recommends buying Shake Shack stock despite soft guidance

January 11, 2023
4
FTX Has Been Pure Hell

FTX Has Been Pure Hell

February 7, 2023
4
China’s population decline: what this means for global supply chain

China’s population decline: what this means for global supply chain

January 18, 2023
4
Your Trading Edge Magazine

This is an online news portal that aims to share the latest news about trade, finance, crypto and much more. Feel free to get in touch with us!

What’s New Here!

  • FTX Has Been Pure Hell
  • Pro says ‘Take-Two shares are attractive’ despite weak guidance
  • Pinterest stock down 10% on disappointing Q4: should you buy?

Subscribe Now

Loading
  • Contact
  • Privacy Policy
  • Advertise With Us

© 2021 - ytemagazine.com - All rights reserved!

No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe

© 2021 - ytemagazine.com - All rights reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?