CRYPTO NEWS - Bitcoin Still Around 57k - Nothing is Happening
CRYPTO NEWS - Bitcoin Still Around 57k - Nothing is Happening
00:12 Intro
02:45 Crypto News
04:17 Bitcoin News
05:48 Crypto Market News
06:15 Bitcoin Still Around 57k
07:09 Outro
Bitcoin remained around $57,000 on Thursday as the market remained in a wait-and-see mode. The oldest cryptocurrency’s daily trading volume on centralized exchanges also declined.
Data compiled by CoinDesk shows that bitcoin’s trading volume across 11 major centralized exchanges sank from a day ago and was much lower than a week ago. Ether, the second-largest cryptocurrency by market capitalization, fell slightly but remained in the $4,500-$4,600 range.
Meanwhile, the price for the USDT/CNY (tether/Chinese yuan) pair tumbled entering December,as the deadline approaches for Huobi, a popular crypto exchange among Chinese investors, to close the accounts of its existing users in mainland China. Amid China’s latest ban on crypto trading and mining, Huobi announced that it would remove all mainland Chinese accounts by the end of this year.
As a previous Asia First Mover mentioned, the market in China has been slowly rebounding from the country’s September crypto trading ban with tether’s quoted prices in the yuan on the over-the-counter (OTC) market recovering from a deep discount.
Under normal market conditions, the price of tether expressed in yuan should match that of the U.S. dollar’s exchange rate with the Asian currency, but tether had traded at a significant discount since China’s ban and turned into negative (as much as negative 5.31% yesterday) again after a brief recovery, according to data from feixiaohao.
#bitcoin #btc #cryptocurrency
00:12 Intro
02:45 Crypto News
04:17 Bitcoin News
05:48 Crypto Market News
06:15 Bitcoin Still Around 57k
07:09 Outro
Bitcoin remained around $57,000 on Thursday as the market remained in a wait-and-see mode. The oldest cryptocurrency’s daily trading volume on centralized exchanges also declined.
Data compiled by CoinDesk shows that bitcoin’s trading volume across 11 major centralized exchanges sank from a day ago and was much lower than a week ago. Ether, the second-largest cryptocurrency by market capitalization, fell slightly but remained in the $4,500-$4,600 range.
Meanwhile, the price for the USDT/CNY (tether/Chinese yuan) pair tumbled entering December,as the deadline approaches for Huobi, a popular crypto exchange among Chinese investors, to close the accounts of its existing users in mainland China. Amid China’s latest ban on crypto trading and mining, Huobi announced that it would remove all mainland Chinese accounts by the end of this year.
As a previous Asia First Mover mentioned, the market in China has been slowly rebounding from the country’s September crypto trading ban with tether’s quoted prices in the yuan on the over-the-counter (OTC) market recovering from a deep discount.
Under normal market conditions, the price of tether expressed in yuan should match that of the U.S. dollar’s exchange rate with the Asian currency, but tether had traded at a significant discount since China’s ban and turned into negative (as much as negative 5.31% yesterday) again after a brief recovery, according to data from feixiaohao.
#bitcoin #btc #cryptocurrency
