Bitcoin (BTC) $84,186.97 -1.83%
Ethereum (ETH) $2,668.10 -1.72%
Tether (USDT) $1.00 -0.01%
Solana (SOL) 114.797592 -1.62%
Chainlink (LINK) $12.49 -1.62%
Cardano (ADA) $0.24 -2.97%
Litecoin (LTC) $70.65 12.77%
Dash (DASH) $61.89 -3.84%
Polygon (MATIC) 0.25693 2.45%
Helium (HNT) 0.505111 -1.78%
X-Cash (XCASH) 3.0E-6 0.00%
Dogecoin (DOGE) $0.00 -0.30%

Cryptocurrencies: 30100

Markets: 114183

Market Cap: $2,862,690,892,614

24h Vol: $117,859,155,002

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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