Crypto World Today: Ups and Downs
The world of cryptocurrency is like a roller coaster, full of ups and downs. Today was no different. Bitcoin, the biggest cryptocurrency, had its ups and downs too, but it ended the day on a good note. Let’s look at what happened today in the crypto world.
Bitcoin’s Roller Coaster Ride
Bitcoin started the day going down a bit, but then it went back up again. It even tried to break through a wall at around $90,935[1]. This was because of some technical signs that said it was time to buy, like the MACD golden cross and the RSI being overbought[1]. Even though it went up and down a bit, Bitcoin ended the day around $89,500[5]. This is good news because it means Bitcoin is getting stronger and might keep going up if it keeps this momentum.
What’s Happening in the Global Crypto Market
The total value of all cryptocurrencies in the world went up a little bit, by 1.72%, to reach $3.05 trillion[5]. Bitcoin is still the strongest, with about 61% of the total market[5]. Other cryptocurrencies that did really well today were MOVE, CRO, and SUI[5].
News from the Regulatory World
In the world of rules and laws, the U.S. put tariffs on some things from Canada and Mexico, which could affect the economy and the crypto market too[4]. There are also talks about how to make rules for digital assets, like cryptocurrencies, to make sure they’re safe and private[4]. These things show how the crypto world is connected to the rest of the economy.
Other Interesting Things That Happened
Here are some other big things that happened in the crypto world today:
– Japan’s Crypto Tax Plan: Japan wants to make crypto taxes lower, from a maximum of 55% to 20%[5].
– ETF Filings: Two companies, Bitwise and Canary Capital, said they want to make ETFs for Aptos (APT) and Axelar (AXL)[5].
– Coinbase’s Plans: Coinbase wants to sell more kinds of tokens, but they’re waiting for the rules to be clear[5].
What Does It All Mean?
Today’s crypto market had some good news with Bitcoin getting stronger, but there are still things to worry about, like the economy and new rules. Investors have to pay attention to all these things to make good decisions. The crypto world is always changing, and it’s shaped by what’s happening inside and outside of it.
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Sources:
– CoinStats
– Gallagher Insurance
– Goforth Solutions
– GovInfo
– GSR Markets