Bitcoin flat as crypto winter deepens
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Latest prices
CoinDesk Market Index (CMI)
1047
−5.6 ▼ 0.5%
Bitcoin (BTC)
$22,365
-38.9 ▼ 0.2%
Ethereum (ETH)
$1562
−7.4 ▼ 0.5%
S&P 500 futures
4,044.50
−5.3 ▼ 0.1%
FTSE 100
7,904.61
−42.5 ▼ 0.5%
Treasury Yield 10 years
3.96%
▼ 0.1
BTC/ETH prices per CoinDesk indices, as of 07:00 ET (11:00 UTC)
The main things
Bitcoin began Monday trading just below $22,400 after falling sharply towards the end of last week. BTC fell last week following the news that crypto-friendly Silvergate Bank had asked for more time to file its 2022 annual report. Ether was also trading in the red on Monday. Decentraland’s MANA token gained 5% on Monday, in contrast to the rest of the crypto market which traded down.
An American securities and exchange official so that say the agency’s employees Binance.US operates an unregistered securities exchange in the United States, and that employees believe the sale of VGX tokens by Voyager Digital violated federal securities laws. In a bankruptcy hearing to determine whether Voyager should be sold to Binance.US, William Uptegrove, a lawyer for the SEC, said he was responding to Judge Michael Wiles of the US Bankruptcy Court for the Southern District of New York who said at the outset. of the hearing that the SEC had provided little guidance or detail on its objection to the Voyager sale. Voyager, a crypto broker, filed for Chapter 11 bankruptcy last July.
Crypto exchange City bit announced on Saturday that it is suspending deposits in US dollars (USD).. “We have temporarily suspended USD deposits via bank transfer (including SWIFT) due to service disruptions from our endpoint processing partner until further notice,” the exchange said, adding that withdrawals will be stopped from March 10. However, users can continue to deposit and withdraw crypto to and from wallet addresses and fund purchases through credit cards and other payment methods.
Today’s chart
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The chart shows changes in funding rates in the bitcoin perpetual futures market since the beginning of January.
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Prices have turned negative, a sign bearish short position traders are dominant and are willing to pay bullish long traders.
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In other words, leverage is now skewed bearish.
