Genesis Trading Market Analysis Bitcoin Bitcoin Price markets Cryptocurrencies litecoin Grayscale Genesis Trading Market Analysis Bitcoin Bitcoin Price

Data shows traders are slightly bullish even as crypto’s total market cap falls under $800B

Reading now: 864
cointelegraph.com

The total cryptocurrency market capitalization dropped by 5% between Nov. 14 and Nov. 21, reaching a notable $795 billion. However, the overall sentiment is far worse, considering that this valuation is the lowest seen since December 2020.

The price of Bitcoin (BTC) dipped a mere 2.8% on the week, but investors have little to celebrate because the current $16,100 level represents a 66% drop year-to-date.

Even if the FTX and Alameda Research collapse has been priced in, investor uncertainty is now focused on the Grayscale funds, including the $10.5 billion Grayscale Bitcoin Trust.Genesis Trading, part of the Digital Currency Group (DCG) conglomerate, halted withdrawals on Nov.

16. In its latest quarterly report, the crypto derivatives and lending trading firm stated that it has $2.8 billion worth of active loans.

Read more on cointelegraph.com
The website financemag.cash is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA