Recurring market commentary on what’s happening in the crypto markets, summarized by the Crypto Broker team at Crypto Finance AG.
It was a pretty quiet weekend in terms of volume, but not necessarily in terms of market moves.
Bitcoin BTC (daily)
Bitcoin (BTC) went from 39’000 USD to 42’000 USD, and then straight back down to 40’000 USD. After the July expiry on Friday, there were two attempts to break the 42’000 USD resistance. The winner of the weekend was clearly Ether (ETH), gaining approx. 8% over bitcoin ahead of the August 4th fork, implementing EIP-1559. All other FTX indices, Alt/Mid/Shit, outperformed BTC over the weekend as well.
Ethereum / Bitcoin ETHBTC (daily)
The most prominent Exchange, Binance, is going to wind down derivatives in Europe, and CEO Changpeng Zhao (CZ) has hinted at stepping down and finding a replacement. FTX Exchange and Binance have both have removed high leverage trading and limited the leverage to 20x.
Copyright © 2021 | Crypto Broker AG | All rights reserved.
All intellectual property, proprietary and other rights and interests in this publication and the subject matter hereof are owned by Crypto Broker AG including, without limitation, all registered design, copyright, trademark and service mark rights.
This publication provided by Crypto Broker AG, a corporate entity registered under Swiss law, is published for information purposes only. This publication shall not constitute any investment advice respectively does not constitute an offer, solicitation or recommendation to acquire or dispose of any investment or to engage in any other transaction. This publication is not intended for solicitation purposes but only for use as general information. All descriptions, examples and calculations contained in this publication are for illustrative purposes only. While reasonable care has been taken in the preparation of this publication to provide details that are accurate and not misleading at the time of publication, Crypto Broker AG (a) does not make any representations or warranties regarding the information contained herein, whether express or implied, including without limitation any implied warranty of merchantability or fitness for a particular purpose or any warranty with respect to the accuracy, correctness, quality, completeness or timeliness of such information, and (b) shall not be responsible or liable for any third party’s use of any information contained herein under any circumstances, including, without limitation, in connection with actual trading or otherwise or for any errors or omissions contained in this publication.
Investments in virtual currencies are high-risk investments with the risk of total loss of the investment and you should not invest in virtual currencies unless you understand and can bear the risks involved with such investments. No information provided in this publication shall constitute investment advice. Crypto Broker AG excludes its liability for any losses arising from the use of, or reliance on, information provided in this publication.