Bitcoin's price traded below $30,000 late Monday amid continued turbulence in the crypto market.
According to data from TradingView, BTC fell to $29,825 before posting a recovery. At press time, the cryptocurrency is trading at $29,850.As reported earlier Monday, the algorithmic stablecoin UST has incurred a significant price decline, falling more than 30% on Binance against USDT. At press time, UST is trading for roughly $0.67, with a low of $0.6065.
Speaking to The Block on the market situation Monday, Genesis Global Trading head of derivatives Josh Lim said that"[w]e're seeing a slow-motion meltdown, partially because it's mostly been long holders selling and also because OTC market structure has shifted to slow-moving algo executions instead of at-risk blocks."
"Now that some corporate treasuries are underwater on their BTC cost basis and others are very close, markets are waiting and watching to see if shareholders will force some de-risking," he continued.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Georgia nuclear plant’s cost now forecast to top $30 billionVogtle is the only nuclear plant under construction in the United States, and its costs could deter other utilities from building such plants, even though they generate electricity without releasing climate-changing carbon emissions.
Les mer »
Low-wage earners to get high-speed Internet for $30 in Biden programAt&T, Comcast, Verizon and 17 other providers will offer discounts under the plan, which the White House estimates will extend to 48 million households.
Les mer »
$30 subsidies for internet service coming to low-income familiesFamilies of four earning about $55,000 annually — or those including someone eligible for Medicaid — will get a $30 monthly credit, meaning about 40% of Americans will qualify. Tribal community mem…
Les mer »
Save $30 on Anker’s noise-canceling Liberty 3 Pro earbudsAnker’s noise-canceling Soundcore Liberty 3 Pro earbuds are just $130 today
Les mer »
‘The Profit’ host Marcus Lemonis facing $30 million lawsuit from Pa. brothers alleging show was ‘mob-style scam’ that bankrupted their businessMarcus Lemonis is reportedly worth half a billion dollars, but the big-time businessman will have to come off of a few million of those bucks if a former Pennsylvania company gets its way in court.
Les mer »
Bitcoin's price is down over 50% from November all-time highs amid crypto market compressionBitcoin’s price is down over 50% from November all-time highs amid crypto market compression
Les mer »