Author: Editorial Office CVJ.CH

Bitcoin USD daily basis Bitcoin USD Chart Analysis – Approaching Resistance Zone 40’000 USD During the reporting week, consolidation continued in the new area after the May 19 sell-off. On Monday, declines led the Bitcoin price to the 33’600 USD, below the respective lows of the previous week. This prompted a retest of the 30’000 USD support zone established over the last 25 trading days on Tuesday. The daily low came about just below 31’000 USD, however, the price recovered again to 33’372 USD by the close of trading. Due to the fact that on the renewed test of the…

Social media in China is blocking recent search results, and suspending the accounts of popular crypto-related content creators. If the situation continues, then this appears to be the latest step in Beijing’s increasing censorship of cryptocurrency information over the Internet. Searches for the Chinese or English names of Huobi, Binance and OKEx have recently been censored in China. For example, the Google-like search engine Baidu does not return results when searching for one of Asia’s leading crypto exchanges. In addition to other measures in the field of Bitcoin mining, the censorship indicates a tougher crackdown by China. Crypto censorship on…

A summarizing review of what has been happening at the crypto markets of the past week. A look at trending sectors, liquidity, volatility, spreads and more. The weekly report in cooperation with market data provider Kaiko. The last 7 days in cryptocurrency markets: Price Movements: May was one of crypto’s worst performing months on record, with Bitcoin down 37% and most top crypto assets in the red. Volume Dynamics: For the first time ever, the volume of Ethereum traded throughout the month was greater than the volume of Bitcoin. Order Book Liquidity: Market depth and spreads have made a full…

Bitcoin is to officially become a currency on par with the US dollar in El Salvador. Through partnerships, the president of the Central American country wants to quickly build a modern financial infrastructure to use Bitcoin as a network and means of payment. At a conference in Miami, the president of El Salvador announced that he wants to make Bitcoin a legal tender. The bill he will send to Congress would promote Bitcoin to an official currency. This could make El Salvador the first country in the world to formally adopt a crypto-asset as a means of payment. Update 09.06.2021:…

One of the first cryptocurrency exchange traded products (ETPs) will become available to institutional investors in the UK to trade on Aquis Exchange. This arrangement was made in partnership an established British market-maker and liquidity provider specialising in ETFs. The 21Shares Bitcoin ETP (ABTC) will become available on Aquis Exchange, a pan-European MTF business based in London and Paris which offers trading in some of the biggest and most liquid stocks across 15 European markets. The ETP will be centrally cleared (CCP) and is engineered like an ETF. Bitcoin exposure for institutional investors ETPs trade on exchanges in a similar…

Bitcoin USD daily basis Bitcoin USD Chart Analysis – Renewed Failure at the 40,000 USD Mark The reporting week continued to be about overcoming the sell-off, which, on the 19th of May, reached its lowest point so far. As observed in the previous week, trading activity was once again concentrated in the 35, 000 – 40, 000 USD zone. On Monday, the bottoming of the two previous trading sessions was used to establish further above the 35,000 USD area. This was achieved with a close of 37,254 USD at the end of the day’s trading. Tuesday and Wednesday were subsequently…

Standard Chartered Bank (StanChart) wants to establish an institutional trading platform for cryptocurrencies in the UK and Europe. The new exchange is expected to launch in the fourth quarter of 2021, depending on approvals from the relevant regulators. London-based Standard Chartered is one of the most influential financial institutions globally. Its innovation arm now wants to create a trading platform in cooperation with the first licensed crypto exchange operator from Hong Kong (OSL). Standard Chartered’s new platform is aimed at the European market, and aims to connect institutional traders with counterparties looking to trade cryptocurrencies. Trading platform for institutions The…

As the price of crypto currencies increases, so too do the number of digital currency scams grow. The phenomenon of fraudulent crypto schemes can take on a variety of forms. It is thus important to protect yourself. What sounds too good often comes with a catch. According to Federal Trade Commission (FTC) data, Americans have lost more than 80 million USD to crypto scams since October 2020 – a 1,000% increase from fall 2019. People between the ages of 20 and 39 were hit particularly hard, accounting for about 44% of reported losses. The latest FTC data showed about 7,000…

The People’s Bank of China (PBoC), the Chinese central bank, plans to use their digital yuan during the 2022 Winter Olympics in Beijing. It could be the first test for China’s central bank digital currency (CBDC) with international users. With the increasing adoption of crypto-assets, central bank digital currencies (CBDCs) have once again become a prominent topic. While the Federal Reserve in the U.S. is still in the planning stages, China has already conducted its first pilot programs for the digital yuan. At the Winter Olympics in 2022, foreign athletes and visitors will also be able to use the digital…

A summarizing review of what has been happening at the crypto markets of the past week. A look at trending sectors, liquidity, volatility, spreads and more. The weekly report in cooperation with market data provider Kaiko. The last 7 days in cryptocurrency markets: Price Movements: Crypto markets rebounded slightly following last week’s market mayhem, with Bitcoin closing Sunday +1%. Volume Dynamics: The Asian exchange landscape has evolved significantly since 2017. We explore patterns in trade volume, trade sizes, and market dominance in one of the most important crypto regions. Order Book Liquidity: Liquidity for Tether markets on Binance and Huobi…

Bitcoin USD daily basis Bitcoin USD Chart Analysis – Consolidation After Sell Off The reporting week was all about handling the selloff of the previous week. Here, the market participants were mainly focused on the new lows that were created on “Black Wednesday” of the previous week – just below 30,000 USD. In the course of Sunday’s trading, prices travelled in this direction again, with a daily low of 31,000 USD and the close of trading being marked at 34,758 USD. Thus, old lows were no longer undercut and the market has shown that buyers can be found in…

Large US investor Carl Icahn has once again spoken out about cryptocurrencies. Like other former Bitcoin sceptics, he has changed his mind towards the new asset class and plans a potential 1 billion dollars investment. Carl Icahn is one of the most successful investors on Wall Street. He ranks 124th on the Forbes list with an estimated 16 billion USD net worth. His primary investment vehicle is the publicly traded Icahn Enterprises. He also runs an investment fund, which is made up of his personal money and money from his company. Now, cryptocurrencies have piqued his interest. So far, the…

PricewaterhouseCoopers International (PwC) has published a comprehensive report on cryptocurrencies. The study provides an overview of how hedge funds and asset managers are dealing with the new asset class on a global scale. The PwC group has published its third annual report examining the global crypto hedge fund landscape. This is based on data from research conducted in the first quarter of 2021. The study was also produced in collaboration with the Alternative Investment Management Association (AIMA), and offers insights into how traditional hedge funds view cryptocurrencies. Number of crypto hedge funds correlated with Bitcoin price The launch of actively…

According to a report by Goldman Sachs, cryptocurrencies such as Bitcoin are considered investable assets. The asset class carries its own specific risk, according to the big bank, as it is still relatively young and going through an adoption phase. Recently, a detailed report on cryptocurrencies as an asset class by US big bank Goldman Sachs became public. The bank’s researchers found that many of the major cryptocurrencies are unique and rightly occupy their specific niches in the market. In this regard, Goldman compares crypto assets to volatile penny stocks that react with wild swings to the smallest news. It…

A summarizing review of what has been happening at the crypto markets of the past week. A look at trending sectors, liquidity, volatility, spreads and more. The weekly report in cooperation with market data provider Kaiko. The last 7 days in cryptocurrency markets: Price Movements: Despite the market-wide correction, most crypto assets still have positive YTD returns. Volume Dynamics: May 19th had the highest daily spot volumes ever recorded. Following the initial sell-off, large market participants aggressively bought the dip. Order Book Liquidity: Price slippage for BTC-USD and ETH-USD markets has fallen consistently since last March’s market collapse.  Volatility and…

Bitcoin USD daily basis Bitcoin USD Chart Analysis – Sell Off to the 30,000 USD Support Zone The trend of lower daily trading levels that started on May 12 consistently continued in the reporting week, and finally led to a downright sell-off. The omens were already bad with the break of the 50,000 USD support zone on the weekend of the previous week. Accordingly, the bears took the reins and two trading days with lower daily lows and highs followed on Monday and Tuesday. The respective daily lows at the beginning of the week at 42,300 USD were already close…