Bitcoin Slips Below 200-Week Moving Average as Strong Dollar Weighs on Risk Assets

·2 views

Bitcoin dropped below its 200-week moving average, a closely watched long-term technical level. The move came as the U.S. Dollar Index remained above 103, adding pressure on riskier assets. Gold failed to regain lost ground amid the same backdrop. Oil prices, by contrast, rebounded over the period covered.

Read the full story at CoinDesk

This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Discussion (0)

BTCS sells ether at a loss to protect its $64 million Aave loan

Nasdaq-listed Ethereum treasury firm BTCS sold ether at a loss to keep its $64 million loan on the Aave lending platform in good standing. The company holds 46,676 ETH as collateral for the borrowing. Without action, the loan could become eligible for liquidation if ether's price falls to around $1,700. The sale was made to bolster the collateral position against that risk. The move highlights the pressure crypto treasury companies face when token prices decline while they carry leveraged debt.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Bitcoin treasury firm Nakamoto owes Kraken $165 million, exceeding its market value

Bitcoin treasury company Nakamoto has an outstanding debt to the exchange Kraken of about $165 million. Roughly 70% of the firm's bitcoin holdings are pledged as collateral to Kraken. The coins were acquired at prices near $118,000 each. Bitcoin's current trading price has fallen below $69,000, which has pushed the value of the pledged holdings down. As a result, the amount Nakamoto owes now exceeds the company's entire market capitalization.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Bitcoin ETFs post over $1.5 billion in net outflows so far this year

Spot Bitcoin exchange-traded funds have seen more than $1.5 billion in net withdrawals since the start of the year. Investors have been redeeming shares quickly, which analysts point to as the main driver of the recent market downturn. On Friday, Bitcoin's spot price dropped below $70,000, its lowest level since August. The sell-off reflects growing caution among holders of these funds. The article links the pullback in prices directly to these rapid redemptions.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Possible SpaceX-Tesla merger revives attention on roughly 30,000 bitcoin

Reports suggest a merger between SpaceX and Tesla could be announced as early as December. The combined entity would hold about $2.1 billion worth of bitcoin, according to the source article. That figure represents only a small fraction of the overall value the merged company would have. The article highlights the bitcoin holdings as a point of renewed interest in the talks. Details of the deal remain unconfirmed in the reporting.

0 comments Read more at CoinDesk