Bitcoin (BTC) $97,945.33 -4.48%
Ethereum (ETH) $3,892.21 1.13%
Tether (USDT) $1.00 -0.01%
Solana (SOL) 238.895287 1.69%
Dogecoin (DOGE) $0.44 -2.65%
Cardano (ADA) $1.19 -0.52%
Chainlink (LINK) $24.01 0.86%
Litecoin (LTC) $136.54 7.74%
Helium (HNT) 8.840447 6.75%
Polygon (MATIC) 0.694278 -0.25%
Dash (DASH) $61.57 7.50%
X-CASH (XCASH) 3.0E-6 -5.85%

Cryptocurrencies: 24151

Markets: 92278

Market Cap: $3,597,361,398,400

24h Vol: $316,655,814,603

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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