Bitcoin Slips Under $60,000 Again as Crypto Market Faces Broad Pressure
Bitcoin has dipped below $60,000, dropping 5.4% in the past 24 hours to $59,600 amid a broader crypto market downturn. Other major cryptocurrencies, including ETH and SOL, also saw significant losses. Analysts attribute the decline to a mix of factors, including the "September Effect" and a potential rebound in the U.S. Dollar Index.
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Coinbase, Robinhood Upgraded by Barclays Analyst, Citing 'Matured' Business Models
Barclays has upgraded both Coinbase and Robinhood to equal weight from underweight. Analysts at the British bank argued that both companies have "matured meaningfully." Coinbase, in particular, could profit from a friendlier regulatory environ...
Markets
Sep. 06, 2024
Bitcoin Pumps, Then Dumps Below $55K as Jobs Report Spurs Crypto Volatility
The brief rally in the cryptocurrency markets following Friday's U.S. jobs report quickly reversed in volatile action. Bitcoin {{BTC}} jumped to $57,000 earlier today following the key report, only to the erase its gains and tumble below $55,000...
Markets
Sep. 06, 2024
Crypto Market to Stay Highly Correlated to Stocks Amid Macro Events and Dwindling Network Activities, Citi Says
Crypto market expected to remain highly correlated to stocks, the report said. The bank noted that network activity has been falling on Ethereum and stalling on the Bitcoin blockchain. Both bitcoin and ether spot ETFs have seen outflows, the b...
Markets
Sep. 06, 2024
U.S. Added 142K Jobs in August, Likely Setting Stage for 25 Basis Point Rate Cut
The U.S. posted August job growth of 142,000, slightly less than expected, but the unemployment rate dipped to 4.2% Sizable downward revisions to the July and June reports made the employment picture somewhat weaker than previously thought Und...
Markets
Sep. 06, 2024
First Mover Americas: BTC Treads Water Ahead of U.S. Jobs Report
This article originally appeared in First Mover , CoinDesk’s daily newsletter, putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk 20 Index: $1,773.25...
Markets
Sep. 06, 2024
Crypto Market Lacks Major Near-Term Catalysts, JPMorgan Says
Total crypto market cap was about $2 trillion at the end of last month, the report said. JPMorgan said the crypto ecosystem lacks major catalysts in the near-term. Stablecoins were the outlier, as total market cap grew and volumes also increas...