Btc

Bitcoin fell to its lowest level since July 2021 on Monday as slumping equity markets continued to hurt cryptocurrencies, which are currently trading in ...

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The latest moves in crypto markets in context for May 9, 2022.

Bitcoin's price is down more than 50% from its November 2021 peak and has fallen over 11% today, nearing the $30000 mark, leaving many investors scrambling ...

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Terra's UST stablecoin has continued to slip below its dollar peg—and throwing Bitcoin at the problem has yet to work.

But the solution hasn't made a difference yet. As of May 3, LFG had stockpiled nearly $4 billion worth of Bitcoin, Avalanche, UST, and LUNA for its reserves that it could fall back on in case the algorithm stopped working. On Coinbase, the listed price got as low as $0.65. Order is theoretically restored as the free market does all the work. As in most markets, it's all but impossible to determine to what degree Terra's troubles were a result of the crypto downswing and to what degree Terra helped cause that downswing. As the stablecoin's price peg slipped to $0.985 this weekend, it voted to lend out $750 million in Bitcoin and $750 million in UST to "proactively defend the stability of the $UST peg & broader Terra economy, especially under volatility and the uncertainty of macro conditions in legacy markets."

Bitcoin prices have suffered some heavy losses lately, falling to less than $30,000 during a day where risk assets experienced a broad sell-off.

But when observed over a multi-year timeline, their overall rise in price was nothing short of meteoric.” Between rate hikes and asset sales, these financial institutions could have a significant impact on the global asset markets, which many believe have become inflated as a result of unprecedented stimulus. “The crypto world is experiencing a rate of adoption globally that is incredibly fast – perhaps at twice the rate at which the internet itself was adopted in the 90s,” Powell noted. “What I think is important to keep in mind here is that, longer term, Bitcoin and the crypto industry more generally are undergoing a process that is quite different from what traditional equities are experiencing right now,” he stated. “Bitcoin’s decline is primarily based on these macro factors and the rising risks of a global credit deleveraging that are at play, as opposed to its fundamentals, adoption, and growth potential,” said Rule. “Rising rates, a historic pace of monetary policy tightening to combat unprecedented levels of inflation, a strengthening U.S. Dollar versus other global currencies, and a deterioration in global growth outlooks are all macroeconomic forces at play that are driving bitcoin lower,” he stated.

Bitcoin, the largest cryptocurrency by market value, is plunging alongside stocks. Analysts talk to Fortune about what's next.

“It’s not as significant as a money-market fund ‘breaking the buck,’” he said, referring to a famous turning point in the great financial crisis of 2008, “but it is adding to this lingering anxiety among crypto investors. Bonds haven’t been crushed this badly since just after World War I,” he said, adding that the “majority of tech is down well over 60% and many [are] down 80% plus.” But “I’m not sure the nations these central banks inhabit can handle rates that high with their debt loads, so I remain optimistic we don’t actually get to that point.” Ether, the second-largest cryptocurrency, is trading at around $2,316, down 9% within the past day and 18% in the past week. It comes against the backdrop of traditional markets taking a hit. Analysts tell Fortune that Bitcoin flirting with the $30,000 level is cause for concern.

Bitcoin has gotten caught up in a broader market selloff as investors sold the cryptocurrency along with other risk-on assets, such as tech stocks. Last week, ...

“Technically, Bitcoin’s structure is bearish as lower-lows and lower-highs persist, but Bitcoin is now approaching the bottom of the 16-month range. [And] loan 750M UST to accumulate BTC as market conditions normalize.” “As a result, the LFG Council has voted to execute the following: Loan $750M worth of BTC to OTC trading firms to help protect the UST peg. The goal is to get to $10 billion worth of Bitcoin. The reserves currently stand at around $3.5 billion. Aside from the macro drivers weighing on Bitcoin, there is also a debate around Bitcoin as a reserve currency. Bitcoin has gotten caught up in a broader market selloff as investors sold the cryptocurrency along with other risk-on assets, such as tech stocks.

Bitcoin is in line for a trip to $35000 next, one trader says as BTC price volatility ebbs as Terra's UST recovers.

Terra ( LUNA) was at $32 after hemorrhaging over 50% of its value in 24 hours. BTC/USD nonetheless managed to recover from its own collapse to trade at near $32,000 at the time of writing on May 10. Kwon retweeted a summary of the situation from Jose Macedo, founding partner at Delphi Ventures, who argued that Terra’s contingency measures would ultimately lead to a greater decentralization of the crypto industry’s largest decentralized USD stablecoin. At the same time, BTC/UST on major exchange Binance began behaving erratically, reaching highs of more than $42,000 while other Bitcoin dollar markets struggled to preserve $30,000. Initial liquidity steps to mitigate the impact of the threat proved insufficient, however, and UST subsequently fell to lows of $0.67, according to data from CoinMarketCap. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD plumbing lows of $29,731 on Bitstamp.