Bitcoin stalls near record highs amid derivative pressures but breakout potential remains
Bitcoin reaches all-time low in volatility compared to gold as derivatives keep the price between $100k and $105k.
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Bitcoin remains locked in a tight range near its record highs, with derivatives market pressures keeping the price between $100,000 and $105,000 despite strong on-chain fundamentals and historically low volatility compared to gold. Meanwhile, Moody's historic downgrade of the US credit system is reinforcing Bitcoin's appeal as a safe-haven asset, helping it hold steady at the $100,000 mark amid growing fiscal uncertainty. In corporate moves, Basel Medical Group is bucking the trend by adding $1 billion in Bitcoin to its treasury even as its share prices fall, highlighting the complex dynamics at play in the crypto market today.
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The global crypto market cap is $3.27 trillion, with a 24-hour volume of $95.73 billion. The price of Bitcoin is $103,125.90, and BTC market dominance is 62.6%. The price of Ethereum is $2,481.09, and ETH market dominance is 9.1%. The best-performing sector is eCommerce, which gained 1%. The Crypto Fear & Greed Index is currently Greed (74).
📰 Top News
Bitcoin stalls near record highs amid derivative pressures but breakout potential remains
Bitcoin reaches all-time low in volatility compared to gold as derivatives keep the price between $100k and $105k.
Moody’s historic downgrade of US credit system could add fuel to Bitcoin safe-haven status
Bitcoin maintains its $100,000 perch as a hedge against US fiscal instability in wake of Moody’s downgrade.
Basel Medical Group to add $1B in Bitcoin to treasury amid falling share prices
BMGL’s share performance contrasts with the typical market reaction to corporate Bitcoin acquisitions.
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