Bitcoin edged higher to $27,700 Wednesday afternoon as crypto markets calmed after Monday’s sharp rally. XRP and AVAX jumped 3% and 7%, respectively.
Ether’s price dropped to its lowest price compared to bitcoin since July 2022 as the launch of futures-based ETH ETFs attracted meager interest from investors.
Broader crypto markets dropped 0.7% in the past 24 hours, the CoinDesk Market Index (CMI) shows.
The latest price moves in bitcoin (BTC) and crypto markets in context for Oct. 4, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Low volatility returned to crypto markets after a sudden move higher earlier this week following ETF decisions.
The tides finally changed after Gary Wang and Nishad Singh (both FTX directors who have since pled guilty to fraud in the ongoing trial) joined the firm.
Michael Lewis’ “Going Infinite” outlines how the FTX CEO was worried his employees had gotten too rich because SRM’s price had gone up so much. So, he made it impossible for them to sell for longer.
The latest price moves in bitcoin (BTC) and crypto markets in context for Sept. 29, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Bitcoin Slips Below $27K, but What Might Government Shutdown Mean for Prices?
The asset manager Thursday said it had already begun purchasing ether futures contracts.