Bitcoin (BTC) $103,904.63 -1.80%
Ethereum (ETH) $2,477.12 -6.16%
Tether (USDT) $1.00 -0.01%
Solana (SOL) 150.885794 -2.18%
Dogecoin (DOGE) $0.18 -7.44%
Cardano (ADA) $0.66 -4.50%
Chainlink (LINK) $13.26 -5.50%
Litecoin (LTC) $85.23 -4.24%
Helium (HNT) 2.994824 0.95%
Polygon (MATIC) 0.25693 2.45%
Dash (DASH) $21.15 -2.50%
X-CASH (XCASH) 3.0E-6 -6.49%

Cryptocurrencies: 26307

Markets: 103788

Market Cap: $3,243,668,241,616

24h Vol: $147,397,847,100

Seeking Alpha

2021-02-01 03:46:00

Why The Bloom Is Off The Bitcoin Trade For Now

Why The Bloom Is Off The Bitcoin Trade For Now

Institutional demand seems weaker than advertised.The Grayscale carry trade, a significant source of institutional demand, has broken down recently.Tether drama is casting uncertainty on bitcoin investments.Friday's pop was a short-term phenomenon.I expect bitcoin to break below $30K in the next few weeks.

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