Bitcoin (BTC) $89,609.93 0.59%
Ethereum (ETH) $3,041.56 1.00%
Tether (USDT) $1.00 -0.01%
Solana (SOL) 132.886579 1.00%
Dogecoin (DOGE) $0.14 1.44%
Cardano (ADA) $0.42 1.61%
Chainlink (LINK) $13.99 3.84%
Litecoin (LTC) $82.16 2.60%
Dash (DASH) $47.54 1.08%
Polygon (MATIC) 0.25693 2.45%
Helium (HNT) 1.954297 1.50%
X-CASH (XCASH) 1.0E-6 0.00%

Cryptocurrencies: 28005

Markets: 116055

Market Cap: $3,052,473,135,211

24h Vol: $86,926,750,486

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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