Cryptocurrencies are experiencing a “redemption arc,” as bitcoin rallies and investors keep a close eye on pressures in the U.S. banking system, according to analysts at AllianceBernstein.
Bitcoin BTCUSD tumbled harder than other major assets last year, but has rebounded sharply this year. In comparison, the Nasdaq Composite COMP rose 11% year-to-date , while down 26% since the start of 2022. The S&P 500 SPX went up 2%, but still was down 18% since the start of last year. Gold GC00 gained 8% year-to-date and kept the same return since the start of 2022. The dollar DXY was flat since the start of the year, but is up 8% from the beginning of last year.
Meanwhile, the possibility of a recession could pose challenges for banks regarding their asset quality in the midterm, according to the analysts. Bitcoin also has been trading as a risk-off asset, and has started decoupling from U.S. stocks in November, when the crypto exchange FTX collapsed, the analysts said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Major Cryptocurrency ATM Manufacturer General Bytes Hacked, Over $1.5M in Bitcoin Stolen – Bitcoin NewsThe hacker was able to liquidate 56.28 bitcoin, worth approximately $1.5 million, from about 15 to 20 crypto ATM operators nationwide. Ok great, I also listen to ChiefraFba for signals and analysis!..I have a 93% win rate in 3 months of copying his signals! Could it be that the manufacturers intentionally made “back doors” for such activities and sell the hack codes to those hackers? 👀
Source: BTCTN - 🏆 531. / 51 Read more »
These 5 cryptocurrencies may continue to surprise to the upsideBitcoin, ETH, BNB, STX, and IMX have held onto their gains during the weekend, indicating that the rally may continue next week. $USDC also holding onto gains from past week! 🙏 I did not see the project more interesting on the Internet. I watch with interest the development of affairs. balajis If bitcoin even makes it to $100,000 you won’t see me again as I’ll be set for life lol
Source: Cointelegraph - 🏆 562. / 51 Read more »
Bitcoin, Ethereum Technical Analysis: BTC Starts the Week Above $28,000, as Global Banking Crisis Worsens – Market Updates Bitcoin NewsBitcoin was trading above $28,000 on Monday, as cryptocurrencies extended a bull run to start the week. Ethereum fell below $1,800. 🔥 BTC's prophecy is coming to fruition, though I don't think it will be that chain the fulfills it Ok then, I also listen to ChiefraFba for signals and analysis!..I have a 93% win rate in 3 months of copying his signals!
Source: BTCTN - 🏆 531. / 51 Read more »
This week in markets: Bitcoin soars, Ether jumps and Coinbase, MicroStrategy rallyEthereum and Bitcoin rallied this week alongside stocks related to crypto, as structured crypto products also saw gains. How is this “breaking” in any way?
Source: TheBlock__ - 🏆 464. / 53 Read more »