Crypto Market Vibes: Bitcoin’s Minor Slouch and a Sprinkle of Hope
Bitcoin & Ethereum: The Slow Drift
Bitcoin dipped about 0.4% and sighed as it hovered near $37,270. Ethereum, feeling a bit more restless, fell 0.85% but still strutting above $2,040.
Liquidity Took a Coffee Break
With U.S. markets on holiday, liquidity was as thin as a paper cut in a room full of sand. Predicting the next market thunderstorm? Hard. No clear signs of a major storm coming.
Positive Surprises: Record Highs & Spot ETF Dreams
Despite the gloom, Bitcoin cheered up by smashing a record level not seen since April 2022 – a crisp $38,400. The belief in soon‑to‑be‑launched Bitcoin spot ETFs is keeping the vibes bright.
Grayscale Bitcoin Trust (GBTC) Gets a Hug
GBTC’s discount to NAV took a tiny dip to 8%, its lowest since 2021. Investors are dreaming of a SEC blessing that could turn GBTC into a spot ETF – a real happy dance for crypto lovers.
Stablecoins Make Their Move
USDT and SBI Holdings just inked a memorandum, promising smooth liquidity for users and businesses. This marks another push by the stablecoin issuer to expand across Asia.
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