Bitcoin (BTC) $63,327.32 -2.09%
Ethereum (ETH) $1,828.37 -2.80%
Tether (USDT) $1.00 -0.01%
Solana (SOL) 74.648207 -2.52%
Chainlink (LINK) $8.14 -3.52%
Cardano (ADA) $0.16 0.02%
Litecoin (LTC) $44.75 -1.02%
Dash (DASH) $34.29 0.97%
Polygon (MATIC) 0.25693 2.45%
Helium (HNT) 0.206416 -2.86%
X-Cash (XCASH) 2.0E-6 0.47%
Dogecoin (DOGE) $0.00 0.00%

Cryptocurrencies: 29493

Markets: 111745

Market Cap: $2,174,176,227,833

24h Vol: $63,464,506,029

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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