Bitcoin held steady over $27K after rising before US equity markets opened Friday. An unexpectedly strong jobs report also seemed to leave investors unstirred. JPRubin23 writes
Bitcoin rose a little on Friday, but largely shrugged off an unexpectedly strong jobs report, along with a week’s worth of upset and uproar over the U.S. debt ceiling, end-game negotiations and renewed inflation concerns.
The largest cryptocurrency by market capitalization was recently trading at about $27,180, up 1.2%. BTC edged above $27,000 shortly before U.S. equity markets opened on Friday after spending much of the previous two days well below this threshold, a result largely of the sort of inflationary angst that has hobbled prices over the past 18 months.
“Bitcoin is holding steady after a busy week filled with a debt limit deal, a complicated jobs report that showed both robust hiring and surging layoffs, and as lawmakers inch towards figuring out how to regulate crypto,” Edward Moya, senior market analyst at foreign exchange market maker Oanda, wrote in an email, flagging recent discussion of a Securities Clarity Act that could clarify “if some tokens are unregistered securities.
Almost without exception, other major cryptos spent the day solidly in positive territory with ADA and SOL, the tokens of the Cardano and Solana smart contract platforms, recently rising more than 4% and 3.5%, respectively. Meanwhile, a bevy of small DeFi focused protocols were
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
First Mover Americas: Bitcoin Begins June Dropping Back Below $27KBitcoin and the broad cryptocurrency market sold off for the second consecutive day on Thursday with fears over inflation and continued rate hikes resurfacing. LedesmaLyllah reports in First Mover Americas
Read more »
Bitcoin Starts June Dropping Back Below $27K; State of Crypto in Hong KongBitcoin (BTC) and the broad cryptocurrency market sold off for the second consecutive day on Thursday, with fears over inflation and continued rate hikes resurfacing. Todd Groth, CFA, CoinDesk Indices head of index research, shares his crypto markets analysis. Plus, InvestHK head of financial services and fintech King Leung discusses Hong Kong's state of crypto as the country's securities regulator begins accepting applications for crypto trading platform licenses. And, Nestcoin co-founder Yele Bademosi shares his reaction to crypto adoption and innovation in Nigeria.
Read more »
Bitcoin price slips under $27K, but data shows BTC whales counter trading DXY strengthBitcoin price struggles to find footing above $27,000, but JLabsJanitor says BTC whales are counter-trading US dollar $DYX strength.
Read more »
Bitcoin Lingers Under $27K to Continue Its May Sluggishness Amid Inflation ConcernsBitcoin was lingering under $27K to continue its slow-moving ways from May when it sank close to 4%. RNDR and LTC were among the biggest gainers for the month, according to CoinDesk Indexes. JPRubin23 writes
Read more »
Lido (LDO) and Aptos (APT) Soar by 7%, BTC Remains Shaky at $27K (Market Watch)FIL, LDO, and APT are today's top performers from the top 36 cryptocurrencies.
Read more »
U.S. Adds 339K Jobs in May, Blowing Through Estimates for 195K; Bitcoin Steady at $27KThe jobs numbers topped expectations for a 14th consecutive month, with May job gains of 339K versus forecasts for 195K. The unemployment rate, however, rose to 3.7% from 3.4%. Bitcoin remains just above $27K. SteveAlpher reports
Read more »