Bitcoin shifts to a level below $28,000 | coindesk JAPAN

price

Bitcoin: $27,966, +1.7%
Ethereum: $1,777, +1.8%
● CoinDesk Market Index: 1,231.08, +1.9%

● S&P500: 3,970.99, +0.6%
Gold: $1,978, -0.2%
● US 10-year yield: 3.38%, ±0.0

Bitcoin (BTC) rose 1.7% to start the Asian week just below $27,966 and $28,000. Ethereum (ETH) slightly outperforms Bitcoin, up 1.8% near $1,777.

Edward Moya, Senior Market Analyst at Oanda, appeared on CoinDesk TV on the 24th and said that the future of Coinbase will determine the future price movement of crypto assets.

“Crypto traders are keeping an eye on Coinbase. Coinbase CEO Brian Armstrong said he wasn’t completely surprised by the SEC’s notice. If all tokens are securities, , no one knows how regulators will regulate it.” “Coinbase’s success is essential for long-term crypto growth. It is an option.”

Moya said bitcoin cannot test the $30,000 level for now, but it appears poised to plateau.

BitBull Capital CEO Joe DiPasquale said in an email that the market remained largely bullish after the Federal Open Market Committee (FOMC) announced a relatively modest rate hike.

“It didn’t happen, but we were expecting a correction to $25,000. “If these price movements continue for a while, altcoins may start rising again.

Ethereum traders, meanwhile, are reassured as the latest DeFi (decentralized finance) crisis appears to be winding down, pushing prices higher.

CoinDesk reported over the weekend that hackers who stole $200 million from Euler Finance returned most of the money. Layer 1 tokens such as Solana (SOL) and EOS (EOS) took the news positively and started the week higher.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
| Image: CoinDesk
｜Original: First Mover Asia: Bitcoin Is Ready for a Consolidation Phase