Bitcoin Soars After Small Drop Below $ 30,000: Markets Wrap Around

BNY Mellon has joined State Street and four other banks to offer custodial support to a new crypto trading platform, Pure Digital. Virtually Human Studio has raised $ 20 million in Series A funding, led by TCG Capital Management.

Bitcoin rebounded on Wednesday, climbing to $ 32,000, after falling below $ 30,000 the day before.

Institutional adoption could have sparked the early morning crypto rally, when bitcoin jumped more than 10%. Ethereum broke above $ 2,000 for the first time in a week.

BNY Mellon, which owns AUC’s $ 45 trillion, has joined State Street and four other banks to offer custodial support to a new crypto trading platform, Pure Digital.

Later that day, Tesla’s Elon Musk said he owned ethereum, bitcoin and dogecoin. He added that he “would like to see bitcoin succeed”. Musk also said Telsa would likely resume accepting bitcoin as a payment method in the future. In its bullish remarks at “The B-Word” conference, Ethereum climbed 13% while dogecoin jumped nearly 20%. The panel also featured Cathie Wood of Ark Invest and Jack Dorsey, CEO of Twitter.

Bitcoin is now facing resistance of around $ 34,000.

Crypto

Bitcoin is trading around $ 31,730.57, up 6.24% in 24 hours at 4:00 p.m. ET. Ether is trading around $ 1,945.31, rising 8.38% in 24 hours at 4:00 p.m. ET. ETH: BTC is at 0.061, rising 1.4% at 4:00 a.m. ET.VIX fell -8.57% to 18.03 by 4:00 p.m. ET.

Overview

“We are finding that transaction volumes have increased at lower price points, possibly because people are buying lower. At least the whales definitely are, ”TabTrader CEO Kirill Suslov said in a note. “However, such a large round number price point can be both difficult to break through, and if pierced successfully, negative pressure can prevail.”

Chart: TradingView

US stocks made gains for a second consecutive trading session after rebounding from Monday’s big hit in stocks.

Actions

The Dow Jones rose to 34,794, up 0.84%. The S&P 500 rose 0.80% to 4,357. The Nasdaq rose 0.90% to 14,629.

Fixed income

10-year US Treasuries return 1.292% at 4 p.m. ET.

Merchandise

Brent crude climbed to $ 72.74 a barrel, advancing 4.17%. Gold was little changed, down -0.40% to $ 1,803.80.

Currencies

The US dollar fell -0.21%, according to the Bloomberg Dollar Spot Index.

In other news …

Virtually Human Studio has raised $ 20 million in Series A funding, led by TCG Capital Management.

We ensure …

Sales of existing homes in the United States will take place on Thursday. The European Central Bank’s rate decision will be on Thursday. The Tokyo Summer Olympics begin on Friday.

That’s it for today’s markets. I’ll see you here tomorrow.

Back to top button