First Mover Asia: Crypto Can’t Shake the Correlation Narrative; BTC, ETH Sink but Meme Coins Rise

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Whether crypto prices continue to correlate regularly with stocks, particularly from the tech sector, is an ongoing debate; BTC and ETH fall, but meme coins DOGE and SHIB continue their recent rally on Tuesday. TheSamReynolds and JPRubin23 report

Ten-year Treasury yield daily close: 2.82%Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index ; Ether is the CoinDesk Ether Price Index ; Gold is the COMEX spot price. Information about CoinDesk Indices can be found atMost major cryptos were on the defensive for a second consecutive day, with bitcoin and ether both trading slightly lower from respective two-plus-month highs they reached less than 48 hours ago.

"The recent crypto rebound has hit a wall as retail traders continue to lick their wounds and institutions respect key technical levels," Edward Moya, senior market analyst for foreign exchange Oanda, wrote in an email."Bitcoin can’t yet break above the $25,000 level, but it seems to be maintaining a bullish trajectory here."

"The upcoming merge has led to elevated trading activity for ETH, especially in the options market, where the open interest surpassed BTC’s for the first time in history," Arcane Research noted in a newsletter.

 

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thesamreynolds JPRubin23 Can't bet on a meme coin in the long run tho, that's literally a gamble roll. I'm stacking more $bit since bitDAO is constantly growing and improving its DAO-2-DAO ecosystem and capitalizing on builders even during these harsh market conditions

thesamreynolds JPRubin23 Get Set Play seeks to fill the gap in the market between the current centralized Esport world, and gamers who can be brought to the next generation of the P2E community by offering tokenized DAO gaming, made possible with blockchain technology.

thesamreynolds JPRubin23 🚀 Thnks a millon.

🚀 Thankss a millon

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